Industry/ Innovation/ Related News:
April 20, 2018 – Top Polymer Enterprise Ltd. (China), a notable thermoplastic elastomer maker announced the investment of USD 15 million in a factory near Atlanta. This will be company’s first plant (expansion) outside China and is expected to boost the company’s existence into the US market. The U.S. site will be operational by May 2019.
Global Styrenic Polymers Market – Segmentations
For an easy grasp and enhanced understanding, MRFR has segmented the analysis into 3 Key dynamics.
By Product Types: Comprises – Polystyrene, EPS (Expanded Polystyrene), ABS (Acrylonitrile Butadiene Styrene), UPR (Unsaturated Polyester Rubber Resin), and SBR (Styrene Butadiene Rubber) among others.
By End-Use Industry: Building & Construction, Automotive, Consumer Goods, Marine Accessories, Electrical & Electronics, and Packaging, among others.
By Regions: North America, Europe, APAC and Rest of the World.
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Global Styrenic Polymers Market – Synopsis
Styrenic Polymers Products have become an inseparable part of modern lives adding value, convenience, and quality to the daily life. Becoming an integral component in a diversified range of products from an aeroplane toy to a real-life aeroplane, from myriad consumer electronics to transportation, construction, and medical applications, Styrenic Polymers enjoy an absolute monopoly. Increasingly finding a new application area with the growing proliferation of technology, these polymers have garnered quite a prominence around the world.
And with each application expanse, the market for Styrenic Polymers is increasing on the global level, enjoying an extensive traction all around. After the recent involvement of high-quality virgin, Styrenic Polymers in chemical recycling technology developed by Agilyx (US) to recycle PS (polystyrene) waste, these polymers have become a more valuable material that is re-usable plus helping the environment reducing plastic waste. The pervasively increasing importance certainly provides the impetus to the market growth, furthering demand.
Acknowledging the kind of traction gained by this market, Market Research Future (MRFR) recently published a study report. According to MRFR, Styrenic Polymers market is expected to grow enormously by 2023, registering a phenomenal CAGR during the anticipated period (2017 – 2023). Augmenting applications of Unsaturated Polyester Resin (UPR) in wind energy generation coupled with the increasing demand for Styrene Butadiene Rubber (SBR) backed by the enforced tire labeling regulations are fuelling the market growth of Styrenic Polymers.
In addition, other factors contributing the market growth include increasing population & urbanization across the world. Improving economic conditions that enhance consumers’ affordability worldwide are providing impetus to the market growth. Increasing investments transpired into R&D activities by the market players coupled with the increasing government interest and investment funding for improving the technology is creating a larger revenue pocket in the market.
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