Bulgaria, August 06,2019- The Asian and Pacific styrene market was equal to 1.996 million tons in 2013. The largest country market within the region was India, which in 2013 accounted for a share of 27% of the total in volume terms. Until 2023, the Asian and Pacific market is forecast to reach around 3 million tons, thus growing at a CAGR of about 3.9% per annum in the period 2018-2023. This is a slight slowdown, compared to the growth at a CAGR of around 4.5% per year, registered in 2013-2017.

The Asian and Pacific production of styrene is likely to grow to around 2.4 million tons in the medium term. Upward dynamics of the overall installed production capacities in the region are also expected. Their annual average utilization rates, on the other hand, are projected to decline. In addition, the market is forecast to become relatively unbalanced in terms of supply and demand, also showing moderately upwards dynamics in the medium term.

The market has observed a significant volume growth in the past few years, despite cost pressures. This was mainly due to the interpolymer substitution that had already occurred in less technically demanding applications. Another emerging trend on the styrene market is linked with developments in processes, products and applications for styrene polymers. Among the notable trends are customized nanostructured surfaces, weight reduction, improvements in application performance and safety, as well as the tailoring of commodity plastics to customers’ needs and their applications.

The insights are from a recently published report about the Asian and Pacific styrene market. As an overall, the report presents a strategic analysis of the styrene market in Asia and Pacific and a forecast for its development in the medium term. It provides a comprehensive overview of the market, its dynamics, structure, characteristics, main players, production capacities, trends, prices, production, imports, exports, growth and demand drivers, and all other important factors, influencing its development. The report focuses on both product and country breakdown, offering a larger perspective on the regional market dynamics as well as information on each individual country within the region.

The research report has been prepared using the unique Williams and Marshall Strategy’s methodology, including a blend of qualitative and quantitative data. The information comes from official sources and insights from market experts (representatives of the main market participants), gathered by semi-structured interviews. This report will allow its readers to quickly and cost–effectively get a strategic analysis and gain competitive intelligence about the market and to track market data, including size, value, segmentation, forecasts, dynamics and structure – past, present and future. In addition, the readers will be able to strategically assess the competitive position of the main market players, explore and identify new market opportunities in the countries within the region, recognize key market trends, opportunities and threats and key drivers behind recent market changes as well as strategically evaluate market growth potential.

The report includes information on the following companies:

• Indian Oil Corporation;

• Reliance Industries Limited;

• PT Styrindo Monomer;

• Idemitsu SM Malaysia;

• Ellba Eastern;

• Shell Chemicals Seraya;

• IRPC;

• Siam Styrene Monomer.