Global Styrenic Polymers Market Size, Share, Growth Analysis, By Product(Polystyrene (PS), Expanded Polystyrene (EPS)), By Application(Medical, Building & construction) - Industry Forecast 2022-2028

Global Styrenic Polymers Market size was valued at USD 3.48 billion in 2021 and is poised to grow from USD 3.72 billion in 2022 to USD 6.78 billion by 2030, growing at a CAGR of 6.9% in the forecast period (2023-2030).

Styrenic polymers are produced by polymerizing styrene monomers with materials such as butadiene and acrylonitrile. They have a wide range of characteristics, including outstanding weather resistance, UV stability, and strong impact strength. A type of plastic with extraordinary mechanical properties and extremely high dimensional stability is called a styrenic polymer. Expandable polystyrene, polystyrene, acrylonitrile-butadiene-styrene, polystyrene-acrylonitrile, polystyrene-methyl methacrylate, and polystyrene-acrylonitrile are examples of styrenic polymers. They work in the manufacturing of numerous household products, such as furniture, cups, and consumer electronics. In the packaging, building, automotive, and electrical appliance industries, styrenic polymers are frequently used. The growing use of unsaturated polyester resins (UPR) in marine accessories, pipelines, storage tanks, and wind energy equipment including wind blades and rotors is expected to lead to the development of styrenic polymers. They work in the manufacturing of numerous household products, such as furniture, cups, and consumer electronics. These polymers are quickly replacing metallic components in a variety of end-user sectors.

Top-down and bottom-up approaches were used to estimate and validate the size of global Styrenic Polymers Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.

Segments covered in this report

Global Styrenic Polymer Market is segmented based on product, application, and region. Based on product, global styrenic polymer market is segmented Polystyrene (PS), Expanded Polystyrene (EPS), Acrylonitrile Butadiene Styrene (ABS), Styrene Butadiene Rubber (SBR), Unsaturated Polyester Resin (UPR), and other Polymers. On the basis of application, Styrenic Polymers Market is categorized into medical, building & construction, packaging, automotive, appliances, marine accessories, wind energy, and others. Based on region, Styrenic Polymers Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Driver

Styrenic polymers are increasingly being used in place of PVC in the healthcare industry, which is what is majorly fueling market expansion. Styrenic polymers are being employed more frequently to make high-performance, tiny medical devices, which is driving market expansion. The micro-molding of medical devices is made simple by these polymers.

One of the main factors boosting market expansion is the rising use of styrenic polymers in the automotive industry. The most often used parts of a car are its electroplated interior components and its unpainted exterior pieces, such as its front grille, radiator grille, side mirror housings, and rearview mirrors.

Styrenic polymers are a type of plastic that are highly sought after due to their exceptional mechanical characteristics. These polymers additionally offer straightforward disposal, design flexibility, light weight, and outstanding beauty. Styrenic polymers' benefits are what are causing the industry to grow.

Restraint

Styrene can be hazardous when exposed due to its high volatility, which can cause irritation of the eyes, skin, and respiratory system, as well as problems with the nervous system, dizziness, and other symptoms. It incompletely burns, producing carbon monoxide, and decomposes, emitting hazardous fumes. Since the styrene-based polymers must be burned since they cannot biodegrade, the risk of an explosion increases. These environmental and health concerns are having a bad effect on market expansion.

The high cost of styrenic polymers in compared to other thermoplastic materials is expected to impede market expansion. Polystyrene and ABS are among the priciest materials. For instance, the most affordable PVC material costs roughly three times as much as ABS on average.

Market Trends

Styrenic-based powder polymer modifiers are being developed by some businesses. These cutting-edge products satisfy the demand for compounders and extruders to improve polymer properties and enable improved processing. A few of the changes are increased rigidity, improved colour fastness and retention, resistance to UV radiation, dimensional stability, and impact resistance. Several modifiers offer improved processing as well, including the capacity to function at lower temperatures and with less energy. The styrenics-based modifiers are applicable to a wide range of polymers. A number of polymers, including ABS, ASA, PBT, PC, PP, PE, PS, PVC, SAN9, SBC, TPE, and TPU, have been tested for compatibility and efficacy.