According to the report titled ‘Global Styrenics Market Size study, by Polymer Type (Polystyrene, Styrene Butadiene Rubber, Acrylonitrile Butadiene Styrene, Unsaturated Polyester Resin and Others), by Application (Automotive, Electrical and Electronics, Building and Construction, Packaging, Consumer Products and Others), and Regional Forecasts 2021-2027,’ available with MarketStudyReport, global styrenics market is expected to witness tremendous growth during the period 2021-2027.
 

Growing inclination towards renewable energy, widespread product application across end-use industries like plastic packaging, insulation, disposable containers, etc., and increased tire labeling regulations are propelling the growth of global styrenics market.
 

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/4219626/
 

For the unversed, styrenics are polymers that act as building block for majority of plastic products. It is an organic liquid which evaporates readily. It is widely used in construction, automotive, and other industries.
 

Rapid industrialization and surging infrastructure development across the globe, particularly in emerging economies, are further accelerating the progress of the business environment. 
 

Besides this, the rapid expansion of automotive sector is estimated to boost the overall growth of market. In this regard, Statista reported that the worldwide production of lightweight vehicles is projected to increase to 93 million units by the year-end of 2025, up from 70 million units in the year 2020. 
 

Despite the positive outlook, rising health concerns and harmful environmental impact of styrenics are likely to hinder industry development in the forthcoming years. 
 

Based on polymer type, the market is categorized into acrylonitrile butadiene styrene, polystyrene, unsaturated polyester resin, styrene butadiene rubber, and others. In terms of application spectrum, worldwide styrenics industry is divided into packaging, building & construction, electricals & electronics, automotive, consumer products, and others. 
 

From a regional standpoint, Asia Pacific market is reckoned to show robust growth during the forecast period, owing to the increasing number of construction projects, robust expansion of packaging industries, as well as surge of automotive industries in countries like India and China. Additionally, government programs to promote wind energy are further augmenting the growth of the market. 
 

The competitive landscape of global styrenics market is defined by companies such as Asahi Kasei Corporation, BASF SE, Saudi Basic Industries Corporation (SABIC), Bayer AG, The Dow Chemical Company, Eni S.p.A, Repsol Exploracion S.A., Ineos Group Ltd., Koninklijke DSM N.V., and Total S.A. among others.