Styrene Monomer Market Key Companies and SWOT Analysis by 2028

Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028

Styrene Monomer Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application [Polystyrene, Acrylonitrile-Butadiene Styrene (ABS), Styrene-Acrylonitrile (SAN), SB Latex and Rubber, and Others] and End-Use Industry (Packaging, Automobile, Consumer Goods, Construction, and Others)

Report Date : Dec 2021
Report Code : TIPRE00026171

Category : Chemicals and Materials
Status : Published

Available Report Formats :
No. of Pages : 149

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The styrene monomer market was valued at US$ 29,904.30 million in 2021 and is projected to reach US$ 42,558.55 million by 2028; it is expected to grow at a CAGR of 5.2% from 2021 to 2028.

Styrene monomer is used as a building block to produce a variety of plastic and rubber products. Styrene monomer is used primarily to produce polystyrene (PS). Polystyrene is used in various applications, including packaging, consumer electronics, toys, and recreational equipment. Styrene monomer is also used to produce expanded polystyrene (EPS), styrene-acrylonitrile (SAN), acrylonitrile-butadiene styrene (ABS), unsaturated polyester resins (UPR), styrene-butadiene rubber (SBR), and styrene butadiene latex (SBL).

In 2020, Asia Pacific held the largest revenue share of the global styrene monomer market. In Asia Pacific, the growing urbanization is fueling the demand for styrene monomer. The construction industry extensively uses styrene chemical-based products for building materials. In addition to this, styrene monomer chemical is widely used to manufacture paints. Furthermore, the rising strategic partnership and joint ventures among market players is expected to positively influence the market in the Asia Pacific region.

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Styrene Monomer Market: Strategic Insights

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Impact of COVID-19 Pandemic on Styrene Monomer Market

The COVID-19 pandemic has drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the styrene monomer market.The significant decline in the growth of several industrial sectors has impacted the demand for styrene monomers in the global market. Various industries have faced supply chain disruption due to the COVID-19 pandemic. The demand for styrene monomer has been negatively affected due to the total shutdown of construction activities. The pandemic has also caused fluctuations in the prices of styrene monomers. However, as the economies are planning to revive their operations, the demand for styrene monomers is expected to rise globally. The previously postponed construction projects are ready to resume, which would further provide an opportunity for the styrene monomer market players to regain normalcy.

Global Styrene Monomer Market Breakdown – by Region

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Market Insights
Increasing Demand from Various End-Use Industries

Styrene monomer is primarily used to produce polystyrene (PS), utilized in various everyday products. The growing demand for polystyrene for various applications such as packaging and consumer electronics is creating the demand for styrene monomers. Expandable polystyrene beads are mainly used in the insulation and packaging industry, while expanded polystyrene can enhance buildings' design and structural integrity. The increasing demand for these materials from various end-use industries is driving this market substantially.

End-use Industry Insights

Based on end-use industry, the global styrene monomer market has been segmented into packaging, automobile, consumer goods, construction, and others. The packaging segment held the largest share of the global styrene monomer market in 2020. Solid polystyrene finds applications in packaging products and rigid foodservice containers. Polystyrene foam is used in lightweight protective packaging and foodservice containers.

Styrene Monomer Market, by End-Use Industry – 2020 and 2028

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The key players operating in the global styrene monomer market include Americas Styrenics LLC (AmSty); Asahi Kasei Corporation; BASF SE; Idemitsu Kosan Co., Ltd.; INEOS Styrolution Group GmbH; LG Chem; LOTTE Chemical CORPORATION; LyondellBasell Industries Holdings B.V.; Trinseo; and Westlake Chemical Corporation. Players operating in the market are highly focused on developing high-quality and innovative product offerings to fulfill the customer's requirements.

Report Spotlights

Progressive industry trends in the styrene monomer market to help players develop effective long-term strategies
Business growth strategies adopted by developed and developing markets
Quantitative analysis of the styrene monomer market from 2019 to 2028
Estimation of global demand for styrene monomer
Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
Recent developments to understand the competitive market scenario
Market trends and outlook, as well as factors driving and restraining the growth of the styrene monomer market
Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
The size of the styrene monomer market size at various nodes
Detailed overview and segmentation of the market, as well as the styrene monomer industry dynamics
Size of the styrene monomer market in various regions with promising growth opportunities

Global Styrene Monomer Market

By Application

Polystyrene
Acrylonitrile-Butadiene Styrene (ABS)
Styrene-Acrylonitrile (SAN)
SB Latex and Rubber
Others

End-Use Industry

Packaging
Automobile
Consumer Goods
Construction
Others

Company Profiles

Americas Styrenics LLC (AmSty)
Asahi Kasei Corporation
BASF SE
Idemitsu Kosan Co., Ltd.
INEOS Styrolution Group GmbH
LG Chem
LOTTE Chemical CORPORATION
LyondellBasell Industries Holdings B.V.
Trinseo
Westlake Chemical Corporation

Styrene Monomer Report Scope

Report Attribute	Details
Market size in 2021	US$ 29.9 Billion
Market Size by 2028	US$ 42.56 Billion
Global CAGR (2021 - 2028)	5.2%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Application Polystyrene Acrylonitrile-Butadiene Styrene Styrene-Acrylonitrile SB Latex and Rubber By End-Use Industry Packaging Automobile Consumer Goods Construction
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Americas Styrenics LLC (AmSty) Asahi Kasei Corporation BASF SE Idemitsu Kosan Co.,Ltd INEOS Styrolution Group GmbH LG Chem LOTTE Chemical CORPORATION LyondellBasell Industries Holdings B.V Trinseo

Frequently Asked Questions

Can you list some of the major players operating in the global styrene monomer market?

The major players operating in the global styrene monomer market are Americas Styrenics LLC (AmSty), Asahi Kasei Corporation, BASF SE, Idemitsu Kosan Co.,Ltd., INEOS Styrolution Group GmbH, LG Chem, LOTTE Chemical CORPORATION, LyondellBasell Industries Holdings B.V., Trinseo, Westlake Chemical Corporation, among others.

Which region held the largest share of the global styrene monomer market?

In 2021, Asia Pacific held the largest share of the global styrene monomer market. The food industry is one of the major end-users of the styrene monomer as it is extensively utilized in food packaging. Moreover, in the Asia Pacific region, growing construction work is expected to accelerate the demand for styrene monomers.

Based on application, which segment is leading the global styrene monomer market during the forecast period?

The polystyrene segment held the largest share of the global styrene monomer market in 2021. Styrene is mainly used in the production of polystyrene, which is a major material used in applications such as packaging, consumer electronics, toys, recreational equipment, and refrigerator door liners.

Based on end-use industry, which segment is leading the global styrene monomer market during the forecast period?

Ans. The packaging segment held the largest share of the styrene monomer market in 2021. Styrene monomers are extensively utilized in food packaging. Polystyrene foam is used in lightweight protective packaging and foodservice containers.

Based on application, which segment is the fastest growing segment in the global styrene monomer market?

The Acrylonitrile-Butadiene Styrene (ABS) segment is the fastest growing segment in the global styrene monomer market during the forecasted period. Various properties of acrylonitrile-butadiene styrene plastic make it a suitable material for applications such as automotive, sports equipment, electrical appliances, and toys.

Based on end-use industry, which segment is the fastest growing segment in the global styrene monomer market?

The automobile segment is the fastest growing segment in the global styrene monomer market during the forecasted period. Acrylonitrile-butadiene styrene (as a thermoplastic resin) and styrene-acrylonitrile are used in automotive applications.

Research Manager

Habi Ummer

Manager,
Market Research & Consulting

Habi is a seasoned Market Research Analyst with 8 years of experience specializing in the Chemicals and Materials sector, with additional expertise in the Food & Beverages and Consumer Goods industries. He is a Chemical Engineer from Vishwakarma Institute of Technology (VIT) and has developed deep domain knowledge across industrial and specialty chemicals, paints and coatings, paper and packaging, lubricants, and consumer products. Habi’s core competencies include market sizing and forecasting, competitive benchmarking, trend analysis, client engagement, report writing, and team coordination—making him adept at delivering actionable insights and supporting strategic decision-making.

What are the Styrene Monomer Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

Styrene Monomer Market Report Snapshots

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