Styrene Global Markets to 2020 - Substitution of Polystyrene by Polypropylene

Nov. 18, 2011 - PRLog -- The global demand for styrene has been steadily increasing over the last ten years. In 2000, global styrene demand stood at 17,298,363 tons, before increasing to 21,657,608 tons in 2010. A significant portion of the increase in demand for styrene was from the Asia-Pacific region, and the same trend is expected to continue in the forecast period. The Asia-Pacific region is expected to account for 76.4% of global styrene demand in 2020. The global demand for styrene will increase to reach 41,148,015 tons by 2020.

China has rapidly emerged as a global petrochemical products manufacturing hub. Production in
China enjoys the advantage of lower operating costs.But currently,China imports a considerable amount of styrene in order to produce styrene derivatives such as polystyrene, expanded polystyrene, acrylonitrile butadiene styrene and styrene butadiene rubber. Hence there is huge scope for styrene capacity additions in China.Demand from China is currently driving the Asia- Pacific market’s demand for styrene; however, South Korea and India also have high gross domestic product (GDP) growth rates, and styrene demand in these countries is increasing at a rapid rate.

Polystyrene, ABS/SAN and SBR/SBL with 8,834,932 tons, 4,120,250 tons and 2,312,987 tons of demand, respectively, were the leading end-use segments for styrene in 2010. Together they accounted for more than 75% of the global styrene demand. In terms of the end-uses of styrene, a similar trend is expected to continue throughout the forecast period.

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The main end-use of styrene is in styrene based derivatives such as polystyrene, ABS/SAN and SBR/SBL, among others. Almost all globally produced styrene is used to manufacture these derivatives. The demand for these styrene-based derivatives is witnessing strong growth globally, providing a boost to styrene demand. This growth of styrene or styrene-based derivatives demand is expected to grow consistently in the coming years, mainly in the Asia-Pacific region. This will lead to an increase in global styrene and styrene capacity in the future.

‘Styrene Global Markets to 2020 - Substitution of Polystyrene by Polypropylene and Polyethylene Terephthalate to Impact Growth in Developed Regions’ is an in-depth report from
GBI Research focusing on the demand side of the global styrene industry. The report provides the reader with detailed analysis and forecasts of the major economic and market trends affecting global styrene demand in the major global regions. It also provides analysis and description of the major drivers and restraints affecting styrene demand in various regions. Global styrene demand is assessed in terms of end-user segments and price and a competitive landscape, at both regional and country level, is also provided. Overall, the report presents a comprehensive analysis of the global Styrene market covering all the major parameters. The report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.

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