Styrenics Market to Reach $108,510 Million by 2018 at a CAGR of 4.81% - New Report by MarketsandMarkets
(PRWEB) July 25, 2013 -- The report "Styrenics Market – Polystyrene (Expanded, GPPS), Acrylonitrile Butadiene Styrene, SBR, UPR – Global Trends & Forecasts to 2018" defines and segments the global styrenic market with analysis and forecasting of volume consumed and revenue generated. The styrenic consumption will grow from an estimated 35,007 kilo tons in 2013 to 44,270 kilo tons by 2018, growing with a CAGR of 4.81% during the same period.
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The styrenics market is mainly driven by growing demand for end-use industries such as building and construction, packaging, automotive, and consumer goods. Rising need for infrastructure is driving the consumption of Polystyrene (PS) and Expanded Polystyrene (EPS) in the construction industry. Similarly, growing consumer goods demand and tire labeling regulations are expanding the market for Acrylonitrile Butadiene Styrene (ABS) and Styrene Butadiene Rubber (SBR) respectively. Unsaturated Polyester Resin (UPR) is consumed on a large scale in applications such as pipes & tanks, marine accessories, wind energy, etc.
The immense potential of styrenics market is attracting various small and big level industry players. It is experiencing a huge surge, especially in Asia-Pacific, due to its flourishing infrastructure sector. It is the highest growing market followed by Europe and North America, driving the global consumption of styrene-based polymers.
Expansion is the major growth strategy adopted by the market players. Most of the companies are expanding their operations to new regions and developing new products so as to increase their styrenic polymers business. However, the diversified range of styrene-based products and varied application areas provide opportunities for all players, not allowing one particular player to lead the market.
The report forecasts revenue of the global styrenics market and its various submarkets with respect to main regions namely, Asia-Pacific, Europe, North America, and Rest of the World.
The report segments the global styrenics market by types such as Polystyrene (PS), Expanded Polystyrene (EPS), Acrylonitrile Butadiene Styrene (ABS), Styrene Butadiene Rubber (SBR), Unsaturated Polyester Resin (UPR), and other polymers. These polymers are further segmented on the basis of their respective applications. It also focuses on company analysis and metrics such as drivers, restraints, opportunities, and winning imperatives.
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