Global Styrenics Market 2017-2021
Styrenics belong to the family of plastic products and use styrene as the key building block. Styrenics can easily be processed over a varied temperature range above its softening point. This is due to its amorphous structure. Except for moderately crystalline polymers including polyethylene, polypropylene, polyamides, and polyesters, styrenic polymers (excluding iso-tactic and syndio- polystyrene) do not exhibit different melting points. Hence, no thermal energy for melting of polymeric crystals is required during processing.
Technavio’s analysts forecast the global styrenics market to grow at a CAGR of 4.81% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global styrenics market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price for the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Styrenics Market 2017-2021
Technavio recognizes the following companies as the key players in the global styrenics market: Sinopec, Covestro, LyondellBasell Industries Holdings, Synthos, and Total.
Other Prominent Vendors in the market are: Alpek, Americas Styrenics, Asahi Kasei, BASF, DSM, SABIC, and SIBUR.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is emerging economies and infrastructural development. The emerging economies are focusing on infrastructural developments and long-term projects. China, India, Brazil, and countries in the Middle East are likely to increase their expenses in the infrastructure segment in the coming years. China continues to maintain its position as the leading market for styrenics resins in terms of consumption and production in the world. The country is expected to experience substantial growth in the styrenics market during the forecast period. This is due to the rising investment in infrastructural development and construction projects.”
According to the report, one of the major drivers for this market is high growth in wind energy applications of UPR. UPR is used to manufacture wind blades, nacelles, rotors, and other products. These resins have varied advantages like low process and fast curing time against traditionally used epoxy resin. The usage of these resins during the manufacturing process improves energy efficiency and reduces cost by about 35%-40%. The manufacture of wind blades is a major application of UPR in the wind energy sector. UPR is preferred over epoxy resins for blade manufacturing due to the price advantage that it offers for a similar set of properties.
Further, the report states that one of the major factors hindering the growth of this market is Availability of high-performance substitutes. The availability of substitutes such as epoxy, vinyl ester, acrylic, and polyurethane resins restricts the growth of the market. Vinyl ester is resistant to moisture and offers commercial barrier coating and corrosion resistance. Its mechanical and thermal properties are better than styrenics. Hence, the acceptance of epoxy, vinyl ester, acrylic, and polyurethane resins is becoming a restraint for the growth of the global styrenics market.
Sinopec, Covestro, LyondellBasell Industries Holdings, Synthos, Total, Alpek, Americas Styrenics, Asahi Kasei, BASF, DSM, SABIC, and SIBUR.
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