MRO Magazine

Research and Markets: Global Styrene Market 2015-2019 – Growing Demand and Production in APAC Market


June 10, 2015
By Business Wire News

DUBLIN

Research and Markets (http://www.researchandmarkets.com/research/663d7s/global_styrene) has announced the addition of the “Global Styrene Market 2015-2019” report to their offering.

The Global Styrene market to grow at a CAGR of 4.82% over the period 2014-2019

The Global Styrene market is divided into the following segments based on derivatives: Polystyrene, EPS, ABS, SBR, UPR, Thermoplastic Elastomers, and Others.

The report, Global Styrene Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas and the APAC and EMEA regions; it also covers the Global Styrene market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

R&D in the production process of styrene is a major trend emerging in the market. Consequent to fluctuations in crude oil prices, styrene producers such as Shell, Dow Chemicals and LyondellBasell are increasingly investing in R&D to reduce investment and cut operating costs in a bid to improve their margins.

According to the report, the growing demand for primary styrene derivatives such as expandable polystyrene, unsaturated polyester resin, and styrene butadiene rubber is one of the major drivers in the Global Styrene market. Also, high demand for EPS and UPR from the Construction industry in the APAC region and the Middle East will propel the growth of the Global Styrene market.

Further, the report states that the price of styrene is closely linked to that of benzene, which has a direct link with international crude oil prices. Styrene prices are related to benzene prices, which, in turn, are directly related to crude oil prices. Any volatility in the latter therefore affects the profitability of styrene producers.

Key Vendors

  • Bayer MaterialScience
  • CNPC
  • Dow Chemical
  • Lyondell Basell Chemical
  • Nova Chemicals
  • Shell Chemicals

Other Prominent Vendors

  • Americas Styrenics
  • BASF
  • Chevron Phillips Chemical
  • LG Chem
  • Mitsubishi Chemical
  • Styrolution
  • Total Petrochemicals

For more information visit http://www.researchandmarkets.com/research/663d7s/global_styrene

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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