HOME Research Insight Asia-Pacific Shows Tremendous Opportunity

Asia-Pacific Shows Tremendous Opportunity

The global styrenic polymers market is emerging with a positive growth due to the increasing number of applications in building & construction, packaging, automotive, etc. There is a continuous need of innovations in the applications and products to help sustain against the different substitutes available in the market. Therefore, all major companies have created advanced application technology centers for research and development worldwide.

The rising attention towards the protection of human health and environmental risks has promoted various government regulations, which has further resulted in increased consumption of styrenic polymers in different industries as well as in different regions. In order to achieve this hike, innovations are being undertaken to cater to consumer needs as per their requirements. The demand for renewable and sustainable green resins are also gaining hold in this industry.

The Asia-Pacific market has tremendous opportunities for styrenic polymers and applications. This region emerged to be the driving factor for this market, contributing to more than 50% of the global demand. China is the global market leader in the consumption of polystyrene and expanded polystyrene, due to the increased demand from the construction and packaging industry. The other emerging economies such as Brazil, the Middle East, Russia, India, etc. are further lined up for the brighter future in this market. Asahi Kasei Corporation, headquartered at Japan, aims to increase its presence in the Asian market particularly in China by increasing its application development capability and global production infrastructure.

Through organic growth strategies like geographic expansion and new product developments, the companies are opting to expand their styrenic polymers business worldwide. The major companies operating in this market such as Asahi Kasei Corporation located in Japan, BASF from Germany, U.S. based Styron, Ashland; SABIC (Saudi Arabia), and Nizhnekamskneftekhim (Russia) are engaged in bringing innovations in their products as well as enhancing their penetration in the global styrenic polymers market.

Related Reports:

Styrenics Market - Polystyrene (Expanded, GPPS), Acrylonitrile Butadiene Styrene, SBR, UPR - Global Trends & Forecasts to 2018


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