Urja Daily
No Result
View All Result
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe
No Result
View All Result
Urja Daily
No Result
View All Result
Home Editor's Pick Market Research

Styrenics Market to Garner $134.9 Billion, Globally, By 2030

Urja Daily by Urja Daily
August 17, 2021
in Market Research
Reading Time: 3 mins read
0
Allied Market Research
Share on FacebookShare on TwitterShare on Linkedin

PORTLAND, Ore. – Allied Market Research published a report, titled, “Styrenics Market By Wattage (Low Power, Medium Power, and High Power), Spectrum (Narrow and Broad), Installation Type (New Installation and Retrofit), and Application (Indoor Farming, Commercial Greenhouse, Vertical Farming, Turf and Landscaping, Research, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.” According to the report, the global styrenics industry generated $76.6 billion in 2020, and is expected to garner $134.9 billion by 2030, witnessing a CAGR of 5.9% from 2021 to 2030.

Prime determinants of growth

RELATED POSTS

Are Micro Electric Vehicles the Perfect Urban Mobility Solution?

Can the Energy Management System (EMS) Market Overcome Challenges to Unlock Growth Opportunities?

Rising demand in the application of the wind energy, surge in application in automobile industry, and growth in demand for various plastic in consumer sector drive the growth of the global styrenics market. However, surge in environment and healthcare concerns hinder the market growth. On the other hand, rapid development of infrastructure in developing countries presents new opportunities in the coming years.

Covid-19 Scenario

  • The styrenics market witnessed a negative impact of the covid-19 outbreak. The lockdown resulted in suspension of production facilities and disruptions in the supply chain.
  • Furthermore, declined demand from the end-using industries including automotive, construction, and consumer owing to closure during lockdown led to decreased sales of the market.
  • Nevertheless, the implementation of vaccination drives and relaxations of government regulations across the globe are assisting the market in reviving.

The polystyrene segment to maintain its lead position during the forecast period

Based on polymer type, the polystyrene segment contributed to the highest share in 2020, holding nearly one-third of the global styrenics market, and is estimated to maintain its lead position during the forecast period. The increase in demand for various disposable household products, electronic gadgets, and automobile has increased the demand for polystyrene market. However, the styrene butadiene rubber segment is estimated to register the highest CAGR of 6.5% from 2021 to 2030. The SBR has various applications in automobile industry as a pneumatic tire, in construction sector as a waterproofing, sealing and binding agent. It is also used as a binder in li-ion batteries.

The automotive segment to maintain its dominant share during the forecast period

Based on application, the automotive segment held the highest share in terms of revenue in 2020, accounting for around one-third of the global styrenics market, and is projected to maintain its dominant share during the forecast period. This is attributed to the increase in demand of various transport vehicles especially in personal vehicle and industrial trucks, forklifts and other. However, the building and construction segment is projected to manifest the largest CAGR of 7.5% from 2021 to 2030, owing rapid growth in population and increase in demand for various constructional activities around the world.

Asia-Pacific, followed by North America, to grow at the fastest CAGR

Based on region, Asia-Pacific, followed by North America, is estimated to witness the fastest CAGR of 6.7% during the forecast period. In addition, the region has also accounted for the highest market share in 2020, contributing to nearly half of the global styrenics market, and is expected to maintain its leadership status by 2030. This is due to investments in developing variety of infrastructure such as transport, smart cities, and food storage in this region.

ShareTweetShare
Urja Daily

Urja Daily

Related Posts

Micro Electric Vehicles

Are Micro Electric Vehicles the Perfect Urban Mobility Solution?

by Palak
September 18, 2025
0

The global mobility industry is going through a period of rapid change. As urban populations continue to rise and issues...

Energy Management System

Can the Energy Management System (EMS) Market Overcome Challenges to Unlock Growth Opportunities?

by Palak
September 15, 2025
0

As industries, governments, and consumers face unprecedented pressure to reduce carbon footprints, cut costs, and meet sustainability goals, the role...

Fuel Cell Vehicle Market

What Are the Latest Technological Innovations in Fuel Cell Vehicles?

by Palak
September 8, 2025
0

The automotive industry is experiencing a profound transformation as the world shifts toward sustainable energy solutions. While battery electric vehicles...

EV Battery Revolution

What’s Holding Back the EV Battery Revolution?

by Palak
September 4, 2025
0

The Electric Vehicle (EV) Battery Market is at the center of the global clean mobility transition. With EV adoption accelerating...

Autonomous Driving Software

What Opportunities Exist for Startups in the Autonomous Driving Software Market?

by Palak
September 3, 2025
0

The rise of self-driving technology is reshaping global mobility, creating a wave of opportunities across software, hardware, and services. Among...

Next Post
ALYI

ALYI CEO Sees Potential Expansion Of EV Taxi Program

Alpha Motor WOLF

Alpha Motor Corporation To Debut WOLF, Pure Electric Truck

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

VinFast

VinFast Expands into Hyderabad with Dual Showroom Launch

September 26, 2025
Mr. Saleem Ahmed, Officiating Head, ESSCI

India Can Lead in Semiconductor Innovation, If We Skill Right

September 25, 2025

MOST VIEWED

  • Hydrom

    Hydrom and Thyssenkrupp Nucera Partner for Green Hydrogen Projects in Oman

    0 shares
    Share 0 Tweet 0
  • SFC India Selected Dassault Systèmes for Indigenization and Digital Transformation of Wastewater Treatment Plants

    0 shares
    Share 0 Tweet 0
  • Juniper Green Energy Secures 1 GW Solar Module Deal with First Solar

    0 shares
    Share 0 Tweet 0
  • PGCIL Wins ISTS Project for Renewable Energy Integration in Karnataka

    0 shares
    Share 0 Tweet 0

VinFast Expands into Hyderabad with Dual Showroom Launch

India Can Lead in Semiconductor Innovation, If We Skill Right

Samsung and Videotex Partner to Expand Tizen OS TVs in India

Mitsubishi Electric Launches KEGMIL to Streamline Elevator and Escalator Service Management

Zen Mobility Launches Pixi Pod and Pico Pod for Urban EV Needs

Renewables Resilience: July Data Shows Growth Amidst Anti-Clean Energy Bills

Latest Magazine

© 2016 – 2025 TechZone Print Media | All Rights Reserved

  • About Us
  • Contact Us
No Result
View All Result
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe

© 2016 - 2025 TechZone Print Media | All Rights Reserved