The Global Styrenic Polymers Market is expected to surpass US$ 6,100.5 million by 2030, exhibiting a CAGR of 6.2 % during the forecast period (2023-2030)
Styrenic polymers are plastic that has extremely dimensional stability and excellent mechanical properties. Acrylonitrile-butadiene-styrene, styrene-acrylonitrile, styrene-methyl methacrylate copolymer, polystyrene, expandable polystyrene, and acrylonitrile-styrene-acrylate copolymer are some of the styrenic polymers. They are used to manufacture a wide range of household goods such as furniture, cups, consumer electronics, etc.
Global Styrenic polymers Market is estimated to account for around US$ 3,559.2 Million in terms of value in the year 2022 and it is predicted to grow at a CAGR of 7.0% during the forecast period (2023-2030)
Drivers:
Rising demand for polystyrene from the medical industry due to its excellent physical and mechanical properties is driving market growth. High versatile and transparent property of polystyrene and also the availability of the product in a wide range of color is further anticipated to foster the market growth of styrenic polymers over the forecast timeframe.
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https://www.coherentmarketinsights.com/market-insight/styrenic-polymers-market-4119
Market Opportunities
Rapid growth in the medical packaging industry is expected to provide potential market opportunities over the forecast period. Styrenic polymers are packaging of the medical devices and medicines due to their excellent crack resistance and transparency properties. Growing the geriatric population around the globe is creating demand for healthcare needs thus fueling the demand for styrenic polymers from the medical industry for packaging.
Global Styrenic Polymers Market - Impact of Coronavirus (Covid-19) Pandemic
The sudden outbreak of the novel coronavirus has increased the demand for the styrenic polymers market throughout the globe owing to an upsurge in the demand for styrenic polymers across various end-use industries such as pharmaceuticals and medical industries. Moreover, the rapidly increasing demand for health facilities also supports market growth.
