Styrenic Polymers Market continues to grow with Versalis launching a novel type of expandable polystyrene (EPS), under the trademark Extir FL 3000

 

Styrenic Polymers Market

Polymers have a growing trend towards unpainted, seamless surface patterns. Unpainted or partially painted polymers provide more options for color matching across products. These paints are a great solution for applications that require intricate detailing including black and white as well as many other color combinations. This trend towards seamless polymers is ideal for packaging applications and other high-volume production runs. When it comes to geographical impact, emerging regions namely Asia Pacific seems to be gaining significant traction in the styrenic polymers market. Many countries in the said region are witnessing rapid industrialization and urbanization, which can accelerate the demand for styrenic polymers in the near future. On the contrary, Europe as well as North America exhibiting lucrative signs for styrene polymer products since there has been a surge in the construction industry.

Over the years styrenic polymers have major applications in the automotive sector. Since styrenic polymers are lightweight, heat-resistant, and chemically inert, they have witnessed significant demand in the recent past. As per the Organisation Internationale des Constructeurs d'Automobiles (OICA), total vehicle (commercial + passenger) sales reached 96 million units in 2017, increasing from 86 million units in 2013 globally. As per the India Brand Equity Foundation (IBEF), India’s domestic automobile sales reached 21.55 million units in FY20, registering a CAGR of 1.29%. Thus, such rapid developments can augment growth of the styrenic polymers market.

Polymer material requires some kind of catalyst to achieve its chemical reaction. Acrylonitrile has been a well-known catalyst in the global polymers market. However, recent studies have shown that this catalyst is no longer effective due to its propensity to form ozone. This is not a concern with Styrenic Polymers since their organic structure does not change when heated.  Regardless of these benefits, there are certain challenges that could possible limit the market growth. The environmental concerns are rising along with health concerns due to the usage of styrene. Besides, growing acceptance of other resins as a substitute to unsaturated polyester resin (UPR) can potentially impede growth of the styrenic polymers market.

Medical devices are another key sector where styrenic polymers are widely used. In fact, styrenic polymers are increasingly replacing metallic devices due to lightweight, cost-effectiveness, easy disposability, design versatility, and better aesthetics. Such a positive shift in preference can contribute to growth of the styrenic polymers market.

Recently, in June 2019, Versalis launched a novel type of expandable polystyrene (EPS), under the trademark Extir FL 3000


Location: India

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