South America 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.

South America Styrene Monomer Strategic Insights

Strategic insights for the South America 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.

South America Styrene Monomer Report Scope

South America Styrene Monomer Regional Insights

The geographic scope of the South America 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 South America styrene monomer market is expected to reach US$ 1226.87 million by 2028 from US$ 918.10 million in 2021; it is estimated to grow at a CAGR of 4.2% 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 South 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 South American countries is fueling the growth of the styrene monomer market in the region.

Brazil has been ranked to be the third-most affected economy due to the COVID-19 pandemic globally. In South and Central America, the country has reported the highest number of COVID-19 cases, followed by Argentina, Colombia, Peru, Chile, among others. Governments of countries in the region have taken several actions to protect their citizens by controlling the spread of SARS-CoV-2 through lockdowns, trade bans, and travel restrictions. These actions hampered the growth of the styrene monomer market in South and Central America. Moreover, the underperformance of the construction industry amid the COVID-19 pandemic further hampered the market growth. However, the business activities are expected to gradually recover in the coming months as the governments from the region continue to enact their reopening plans to kick start their economies. In some areas of Brazil, vehicle production levels are almost back to the levels registered in pre-pandemic years. 

Key Market Segments

Based on application, the South 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 South 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 South America 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 South America 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 South America 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 South America styrene monomer market.

SOUTH AMERICA 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

• Brazil
• Argentina
• Rest of South America

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