North America Styrene Monomer Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application [Polystyrene, Acrylonitrile-Butadiene Styrene (ABS), Styrene-Acrylonitrile (SAN), SB Latex and Rubber, and Others] and End-User Industry (Packaging, Automobile, Consumer Goods, Construction, and Others)
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.
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Market Overview and Dynamics
The North America styrene monomer market is expected to reach US$ 6512.73 million by 2028 from US$ 4576.41 million in 2021; it is estimated to grow at a CAGR of 5.2% from 2021 to 2028. 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 North America. However, volatility in the prices of styrene monomers restrains the styrene monomer market growth in the region.
Various products manufactured from styrene monomers are used in a wide range of industries, such as packaging and automotive. Styrene monomers are primarily used to produce polystyrene (PS) that is utilized in the production of everyday goods. The use of polystyrene in packaging, consumer electronics, toys, recreational equipment, and safety helmets has increased lately. A styrene monomer is also used to produce expanded polystyrene (EPS), styrene-acrylonitrile (SAN), and acrylonitrile-butadiene styrene (ABS). Expandable polystyrene is capable of enhancing buildings' design and structural integrity, while expanded polystyrene beads are being used mainly in the insulation and packaging industries. Styrene acrylonitrile is used in many consumer goods, packaging, and automotive applications, and acrylonitrile-butadiene styrene finds application in the automobile and electronics industries. There is a high demand for styrene-butadiene rubber in car tires and various household items. In the automotive industry, acrylonitrile-butadiene styrene is used in the production of auto parts, dashboards, and wheel covers. It is also well-suited for heavy-duty applications. Hence, the flourishing automotive industry in various North American countries is fueling the growth of the styrene monomer market in the region.
The unprecedented rise in the number of COVID-19 cases across the US and Canada, and the subsequent shuttering of manufacturing facilities have hindered the growth of various markets in North America. A significant disruption in manufacturing has lowered the demand for styrene monomers in the region. The COVID-19 pandemic has also limited the progress of the construction industry due to disrupted supply chains of construction materials. The pandemic has also impacted the automotive industry, as major automotive and tire plants temporarily discontinued their production in 2020. However, the North America styrene monomer market is reviving on the account of significant measures taken by governments and the rapid progress of vaccination. Many players are resuming pre-COVID investment plans with the gain in confidence with restabilizing economies. These factors are anticipated to increase the demand for styrene monomer in North America in the coming years.
Key Market Segments
Based on application, the North America 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 North America 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 North America styrene monomer market are Americas Styrenics LLC (AmSty), Asahi Kasei Corporation, BASF SE, and Idemitsu Kosan Co., Ltd.
Reasons to buy the report
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NORTH AMERICA STYRENE MONOMER MARKET SEGMENTATION
- Polystyrene
- Acrylonitrile-Butadiene Styrene (ABS)
- Styrene-Acrylonitrile (SAN)
- SB Latex and Rubber
- Others
- Packaging
- Automobile
- Consumer Goods
- Construction
- Others
By Country
- US
- Canada
- Mexico
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
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Styrene Monomer Market, by Application
1.3.2 Styrene Monomer Market, by End-use Industry
1.3.3 Styrene Monomer Market, by Geography
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Styrene Monomer Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 Expert Opinion
5. Styrene Monomer Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Increasing Demand from Various End-use Industries:
5.1.2 Growing Use of Expanded Polystyrene in Construction Industry
5.2 Key Market Restraints
5.2.1 Volatile Styrene Prices:
5.3 Key Market Opportunities
5.3.1 Rapid Growth in Automotive Industry:
5.4 Future Trends
5.4.1 Increasing Focus on Making Recycled Styrene Monomer:
5.5 Impact Analysis
6. Styrene Monomer – North America Market Analysis
6.1 Styrene Monomer Market –Revenue and Forecast to 2028 (US$ Mn)
7. North America Styrene Monomer Market - By Application
7.1 Market Overview
7.2 Styrene Monomer Market, By Application (2020 and 2028)
7.3 Polystyrene
7.3.1 Polystyrene: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Acrylonitrile-Butadiene Styrene (ABS)
7.4.1 Acrylonitrile-Butadiene Styrene (ABS): Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Styrene-Acrylonitrile (SAN)
7.5.1 Styrene-Acrylonitrile (SAN): Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
7.6 SB Latex and Rubber
7.6.1 SB Latex and Rubber: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
7.7 Others
7.7.1 Others: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Styrene Monomer Market Analysis – By End-use Industries
8.1 Overview
8.2 Styrene Monomer Market, By End-Use Industries (2020 and 2028)
8.3 Packaging
8.3.1 Packaging: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Automobile
8.4.1 Automobile: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Consumer Goods
8.5.1 Consumer Goods: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Construction
8.6.1 Construction: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Others
8.7.1 Others: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
8.8 North America
8.8.1 Overview
8.8.2 North America: Styrene monomer Market –Revenue and Forecast to 2028 (US$ Million)
8.8.3 North America: Styrene monomer Market, By Application
8.8.4 North America: Styrene monomer Market, by End Use
8.8.5 North America: Styrene monomer Market, by Key Country
8.8.5.1 US: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
8.8.5.1.1 US: Styrene monomer Market, by Application
8.8.5.1.2 US: Styrene monomer Market, by End Use
8.8.5.2 Canada: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
8.8.5.2.1 Canada: Styrene monomer Market, by Application
8.8.5.2.2 Canada: Styrene monomer Market, by End Use
8.8.5.3 Mexico: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
8.8.5.3.1 Mexico: Styrene monomer Market, by Application
8.8.5.3.2 Mexico: Styrene monomer Market, by End Use
9. Impact of COVID-19 Pandemic on North America Styrene Monomer Market
9.1 Impact of COVID-19 on Styrene Monomer Market
9.2 North America: Impact Assessment of COVID-19 Pandemic
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 Merger and Acquisition
11. Company Profiles
11.1 Americas Styrenics LLC (AmSty)
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Asahi Kasei Corporation
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 BASF SE
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Idemitsu Kosan Co.,Ltd.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 INEOS Styrolution Group GmbH
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 LG Chem
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 LOTTE Chemical CORPORATION
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 LyondellBasell Industries Holdings B.V.
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Trinseo
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Westlake Chemical Corporation
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Styrene monomer Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 2. North America Styrene monomer Market, by End Use – Revenue and Forecast to 2028 (USD Million)
Table 3. US Styrene monomer Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 4. US Styrene monomer Market, by End Use – Revenue and Forecast to 2028 (USD Million)
Table 5. Canada Styrene monomer Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 6. Canada Styrene monomer Market, by End Use – Revenue and Forecast to 2028 (USD Million)
Table 7. Mexico Styrene monomer Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 8. Mexico Styrene monomer Market, by End Use – Revenue and Forecast to 2028 (USD Million)
Table 9. Glossary of Terms, Global Styrene Monomer Market
LIST OF FIGURES
Figure 1. Styrene Monomer Market Segmentation
Figure 2. Styrene Monomer Market Segmentation – By Country
Figure 3. North America Styrene Monomer Market Overview
Figure 4. North America Styrene Monomer Market, By End-use Industry
Figure 5. North America Styrene Monomer Market, by Country
Figure 6. North America Styrene Monomer Market, Industry Landscape
Figure 7. Ecosystem: Styrene Monomer Market
Figure 8. Expert Opinion
Figure 9. North America Styrene Monomer Market Impact Analysis of Drivers and Restraints
Figure 10. Styrene Monomer Market – Revenue and Forecast to 2028 (US$ Mn)
Figure 11. Styrene Monomer Market Revenue Share, By Application (2020 and 2028)
Figure 12. Polystyrene: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Acrylonitrile-Butadiene Styrene (ABS): Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Styrene-Acrylonitrile (SAN): Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. SB Latex and Rubber: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Others: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Styrene Monomer Market Breakdown, by End-Use Industries (2020 and 2028)
Figure 18. Packaging: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Automobile: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Consumer Goods: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Construction: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Others: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. North America: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. North America: Styrene monomer Market Revenue Share, by Application (2020 and 2028)
Figure 25. North America: Styrene monomer Market Revenue Share, by End Use (2020 and 2028)
Figure 26. North America: Styrene monomer Market Revenue Share, by Key Country (2020 and 2028)
Figure 27. US: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Canada: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Mexico: Styrene monomer Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Impact of COVID-19 Pandemic in North America
CONTACT US
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DISCLAIMER
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No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior permission of the publisher, “The Insight Partners”.
- 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
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