The Business Research Company’s Styrene-Petrochemicals Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, August 6, 2021 /EINPresswire.com/ — The global styrene-petrochemicals market size is expected to grow from $31.31 billion in 2020 to $34.22 billion in 2021 at a compound annual growth rate (CAGR) of 9.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is then expected to reach $26.96 billion in 2025 at a CAGR of -6%.
Companies are investing in developing methods to recycle styrene to increase the efficiency and popularity of styrene. In 2018, a joint industry initiative called Styrenics Circular Solutions launched its dedicated website as part of its commitment to lead a new and comprehensive approach to the recycling of styrene. The website provides details on the efficient uses of styrene-based products and Styrenics Circular Solutions’ initiatives to transform the styrenics industry.
The major players covered in the global styrene-petrochemicals industry are Alpek SAB DE CV, Ashland Inc, Ineos Group AG, Nova Chemicals Corporation, Bayer Material science, Chevron Phillips Chemical Company LLC, ENI S.p.A., INEOS Styrolution Holding Ltd., Saudi Basic Industries Corp. (SABIC), Total S.A., The Dow Chemical Company, Styron LIC, Styrolution Group GmbH, Royal DSM, DowDuPont, Covestro, Trinseo, DSM.
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The styrene market consists of sales of styrene and related services used for making synthetic rubber, resins, and plastics and improving drying oils. Styrene is a colorless, gritty organic compound derived from benzene. Styrene is readily evaporated and is also used as a precursor to polystyrene and several other copolymers. Styrene is a fragrant liquid used for making synthetic rubber, resins, and plastics and improving drying oils.
TBRC’s styrene market report is segmented by type: acrylonitrile butadiene styrene, expanded polystyrene, others, and by application into automotive, construction, packaging consumer goods, others.
Styrene-Petrochemicals Global Market Report 2021: COVID-19 Impact And Recovery To 2030 is one of a series of new reports from The Business Research Company that provides styrene-petrochemicals market overview, forecast styrene-petrochemicals market size and growth for the whole market, styrene-petrochemicals market segments, and geographies, styrene-petrochemicals market trends, styrene-petrochemicals market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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