Global Styrene Market Demand & Forecast Analysis, 2016-2032

Executive Summary : - 

 Styrene possess higher tendency to get polymerized and thus can be used in wide range of application such as production of polymers like polystyrene (PS), expanded polystyrene (EPS), acrylonitrile butadiene styrene (ABS) and styrene butadiene rubber (SBR). EPS is growing at higher rate due to demand in construction sector and is expected to grow with same rate in next five years. PS has reached to saturation in developed countries but it has scope in developing countries. Overall market for PS is steady due competition by its substitute, PET.

Ethylbenzene is made by alkylation of benzene with ethylene in the presence of alumina chloride or zeolite catalyst. It is a colourless liquid which is highly flammable and has sweet aroma similar to that of gasoline. Most important application of ethyl benzene is in the production of styrene monomer which is mainly consumed in production of plastics, on its own in homopolymers such as polystyrene (PS) and expandable polystyrene (EPS). It is also used in conjunction with other monomers in products such as styrene acrylonitrile resins (SAN), acrylonitrile butadiene styrene (ABS) and styrene butadiene rubber (SBR). Other use of ethylbenzene is in anti-knocking agents, diethyl benzene, and natural gas recovery. It is also used as solvent in paints.

Asia-pacific leads the Styrene consumption due to strong Polystyrene demand while Western Europe and North America together accounted for 35% of global Styrene production. Asia-pacific is forecast to grow at much higher rate owing the significant growth in China which is estimated to be more than 8% annually. North America and Western Europe are not expected to witness significant growth.

Ethylbenzene production accounts for the largest chemical outlet for benzene globally. Almost all ethylbenzene is consumed in styrene production. The global ethylbenzene and styrene market is projected to grow at about 2% to 2.5% per year during the forecast period.