SDKI recently published a report on the Styrenic Polymers market which is studied for the forecast period, i.e., 2022-2031. The market is anticipated to witness growth by a CAGR of 7.5% during the forecast period.
The growth of the Styrenic Polymers market can be attributed to the rapidly growing urbanization, and increasing import and export of chemicals, especially in developed and developing nations.
According to the United Nations organization, as of 2018, 55% of the world’s population lived in urban areas, a proportion that is expected to increase to 68% by the end of 2050. The global urban population had grown rapidly from 751 million in 1950 to 5.2.2 billion in 2018.
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In addition, rising demand for plastics and specialty chemicals is also expected to fuel the growth of the Styrenic Polymers market in the forthcoming years. In 2019, specialty chemicals worth USD 860 billion were shipped worldwide, up from shipment of about USD 820 billion in 2018.
Furthermore, chemical companies all around the world are emphasizing on repositioning their asset portfolios and balancing trade-offs between different strategic business options. This in turn is assessed to offer abundant opportunities for the growth of the Styrenic Polymers market in the near future. Along with these, surging greenhouse emissions worldwide has led to the mounting need for decarbonized chemical production, which is also predicted to fuel the progress of the market.
The annual carbon dioxide emissions in the world reached a value of more than 35 billion metric tons in 2021, up from approximately 32 billion metric tons in 2020. The year 2019 recorded an all-time high value of CO2 emissions, amounted at 37 billion metric tons.
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Based on geographical analysis, the Styrenic Polymers market is segmented into five major regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. These regions are further sub-sectioned into the following:
- North America (U.S. & Canada),
- Latin America (Argentina, Mexico, Brazil, Rest of Latin America),
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe),
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), and the
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). The Styrenic Polymers market is also segmented by SEGMENTS.
The research report on the Styrenic Polymers market also contains descriptive analysis on the major enterprises operating in the market. Some of the key players mentioned in our report are key players. The report also contains critical insights on the competitors and includes business strategies, information on crucial business partnerships, and recent developments, among others.
The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
- Kraton Corporation
- Nova Chemicals
- Bayer Material Science
- LG Chem
- RTP Company
- Saudi Basic Industries Corporation
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