Online research company, Research and Markets has released a new report titled “Styrene Global Markets to 2020- Substitution of Polystyrene by Polypropylene and Polyethylene Terephthalate to Impact Growth in Developed Regions”.
The research study has been carried out by GBI research and focuses on the demand of the industry. The report covers major aspects such as market and economic trends along with extensive analysis and forecast. The report also clearly lists out the major factors that affect and drive the global styrene market in various locations.
The demand for styrene is assessed on the basis of segments in end user applications, the competition present in each segment at region and country levels. Data from primary and secondary resources and other proprietary databases has been taken for reference for this study.
According to the report, the global styrene market is expected to achieve a compounded annual growth rate of 6.6% for the forecast period. The demand for styrene globally has increased from 17,298,363 tons in the year 2000 to 21,657,608 tons in 2010. Asia-Pacific region was a major contributor to the substantial growth in demand. The same trend is likely to be maintained since 76.4% of global styrene demand is likely to come from the Asia-Pacific region. The global demand is likely to increase to 41,148,015 tons by the year 2020.