Sytrene Market to Exceed Demand of 41 Million Tons in 2020, Asia Pacific will Drive Growth
FARMINGTON, Conn., Dec. 1, 2011 /PRNewswire-iReach/ — Global Information, Inc. presents “Styrene Global Market to 2020 – Substitution of Polystyrene by Polypropylene and Polyethylene Terephthalate to Impact Growth in Developed Regions” by GBI Research.
(Photo: <font size=”2″ face=”Arial”>http://photos.prnewswire.com/prnh/20111201/CG15900</font>)
Demand from Asia Pacific and Developing Nations to Drive the Styrene Market Over the Forecast Period
In 2010, the global styrene demand stood at 21,657,608 tons in 2010. The global demand for styrene will increase to reach 41,148,015 tons by 2020 at a CAGR of 4.4%. A significant portion of the increase in demand for styrene historically has come from the Asia Pacific region, and the same trend is expected to continue in the forecast period. The Asia-Pacific, South and Central America and Middle East and Africa regions have lower per capita consumption of styrene and styrene derivatives when compared to North America and Europe. This provides opportunities for the further penetration of these petrochemicals in such regions. The Asia-Pacific region is expected to account for 76.4% of global styrene demand in 2020.
China to Account for 70.4% of the Total Demand in 2020
China accounted for 51.4% of the total styrene demand in Asia Pacific (14,184,710 tons)and is expected to account for 70.4% of the market in 2020. China imports a significant amount of Styrene despite having emerged as a global petrochemical products manufacturing hub and having the advantage of lower operating costs. This styrene is required 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 and SBR Account for 75% of the Global Styrene Demand in 2010
Polystyrene, ABS/SAN and SBR/SBL 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.
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.
About the Report
‘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.
Find advanced material market research, industry forecasts, and business analysis: http://www.giiresearch.com/material_report.shtml
About Global Information Inc.
Global Information (GII) (http://www.giiresearch.com) is an information service company partnering with over 300 research companies around the world. Global Information has been in the business of distributing technical and market research for more than 25 years. Expanded from its original headquarters in Japan, Global Information now has offices in Korea, Taiwan, Singapore, Europe and the United States.
Media Contact: Jeremy Palaia, Global Information, Inc., 1-860-674-8796, Press@gii.co.jp
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SOURCE Global Information, Inc.