Europe Styrene Monomer Market

Market Introduction

Styrene is a clear, colorless aromatic liquid. Styrene monomer is used as a building block for the production of variety of plastic and rubber products.  It is used in the manufacture of materials which are then used to produce different products across a wide range of industries. Styrene monomer is used primarily to produce polystyrene (PS). Polystyrene is used in various applications including, packaging, consumer electronics, toys, recreational equipment, etc.

Europe Styrene Monomer Strategic Insights

Strategic insights for the Europe Styrene Monomer provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Styrene Monomer Report Scope

Europe Styrene Monomer Regional Insights

The geographic scope of the Europe Styrene Monomer refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The Europe styrene monomer market is expected to reach US$ 7056.20 million by 2028 from US$ 5042.41 million in 2021; it is estimated to grow at a CAGR of 4.9% from 2021 to2028. Key factors contributing to the market growth are the increasing demand from the packaging and other industries, and rapid growth in the automotive industry across Europe. However, volatility in the prices of styrene monomers restrains the styrene monomer market growth in the region.

Expanded polystyrene is capable of enhancing the design and structural integrity of the building. The use of expanded polystyrene in the construction industry has increased in recent years. The material is used in the construction industry in applications such as lightweight concrete and panels, decorative tiles and molding, and embankment backfilling. Expanded polystyrene is used as insulation in roofs, walls, and foundations. It benefits the construction work through sustainability, energy efficiency, and durability. One of the main trends in the construction industry is the use of prefabricated structural insulated panels (SIPs). Expanded polystyrene serves as a significant component of structural insulated panels. Prefabricated systems are often made from a series of interconnecting panels, each of which is essentially a sandwich of grey expanded polystyrene bonded between outer and inner board materials. The rise in the use of such prefabricated systems is creating demand for expanded polystyrene. Further, there is a high demand for styrene-butadiene rubber in automotive parts and tire manufacturing. In the automotive industry, acrylonitrile-butadiene styrene is used in wheel covers and dashboards; it is also well-suited for heavy-duty applications. The automotive industry is one of the most rapidly growing industries in the world, and the demand for various products manufactured from styrene monomer is increasing with the proliferation of this industry.

In Europe, France, the UK, and Russia are the worst-affected countries by the COVID-19 pandemic. The massive outbreak has led to a temporary distortions in operation efficiencies of industrial bases in the region, and disruptions in the supply chain, which has hindered the growth of the styrene monomer market in Europe. The European construction industry has faced also faced serious challenges in terms of the availability of construction materials due to disruptions in the supply networks. The temporary discontinuation of automotive production amid the pandemic led to decreased styrene monomer demand. However, with the rapid pace of vaccination, various industries are overcoming the ill effects of the pandemic. Thus, the demand for styrene monomers has begun to rise again across diverse industrial applications, which is expected to drive the styrene monomers market growth in Europe in the coming years.

Key Market Segments

Based on application, the Europe styrene monomer market is segmented into polystyrene, acrylonitrile-butadiene styrene (ABS), styrene-acrylonitrile (SAN), SB latex and rubber, and others. The polystyrene segment led the market with the largest market share in 2020 and is expected to register the highest CAGR during the forecast period.

Based on end-user industry, the Europe styrene monomer market has been segmented into packaging, automobile, consumer goods, construction, and other end-user industries. In 2020, the packaging segment held the largest market share, and it is expected to register highest CAGR in the market during 2021–2028.

Major Sources and Companies Listed

A few of the companies profiled while preparing this report on the Europe styrene monomer market are Americas Styrenics LLC (AmSty), Asahi Kasei Corporation, BASF SE, and Idemitsu Kosan Co., Ltd.

Reasons to buy the report

• Determine prospective investment areas based on a detailed trend analysis of Europe styrene monomer market over the next years.
• Gain an in-depth understanding of the underlying factors driving demand for different addictions therapeutics segments in the top spending countries and identify the opportunities offered by each of them.
• Strengthen your knowledge of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
• Identify the major channels driving the Europe styrene monomer market, providing a clear picture of future opportunities that will help analyze, resulting in revenue expansion.
• Channelize resources by focusing on the ongoing programs undertaken by the different countries within the Europe styrene monomer market.

EUROPE STYRENE MONOMER MARKET SEGMENTATION

By Application

• Polystyrene
• Acrylonitrile-Butadiene Styrene (ABS)
• Styrene-Acrylonitrile (SAN)
• SB Latex and Rubber
• Others

By End-User Industry

• Packaging
• Automobile
• Consumer Goods
• Construction
• Others

By Country

• Germany
• France
• Italy
• UK
• Russia
• Rest of Europe

Company Profiles

• Americas Styrenics LLC (AmSty)
• Asahi Kasei Corporation
• BASF SE
• Idemitsu Kosan Co.,Ltd.
• INEOS Styrolution Group GmbH
• LG Chem
• LOTTE Chemical CORPORATION
• LyondellBasell Industries Holdings B.V.
• Trinseo
• Westlake Chemical Corporation