August 10, 2022

Asia Pacific to Provide Enhanced Growth Opportunities to Styrene Acrylonitrile Copolymer Market in the Forecast Period of 2021-2026

5 min read
tyrene Acrylonitrile Copolymer Market

The new report by Expert Market Research titled, ‘Global Styrene Acrylonitrile Copolymer Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global styrene acrylonitrile copolymer market, assessing the market based on its segments like application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.

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The key highlights of the report include:

Market Overview (2016-2026)

  • Historical Market Size (2020): USD 2.1 Billion
  • Forecast CAGR (2021-2026): 5.8%
  • Forecast Market Size (2026): USD 2.9 Billion

The consumer products category accounts for a considerable portion of the styrene acrylonitrile copolymer industry in terms of end use. It is also the product’s fastest-growing end-use sector. In the manufacturing of toothbrush handles, hangers, food containers, computers, televisions, and mobile devices, styrene acrylonitrile resins are in high demand, which is predicted to boost the product’s market growth. Furthermore, during the projection period, the styrene acrylonitrile copolymer sector is likely to profit from growing demand for electrical and electronic equipment.

The Asia Pacific region is predicted to grow strongly during the projected period. The region, led by China, has the greatest market share for styrene acrylonitrile copolymer due to increased urbanisation and GDP growth. Improved economic conditions, rising disposable income, and the expansion of the region’s electronic and consumer goods industries are all predicted to boost product demand.

Industry Definition and Major Segments

Styrene acrylonitrile resin is a copolymer plastic made up of styrene and acrylonitrile. Another name for it is SAN. It is frequently used to replace polystyrene due to its higher thermal resistance.

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Based on application, the market can be broadly categorised into:

  • Medical Sector
  • Consumer Goods
  • Cosmetics
  • Others

The global regions for styrene acrylonitrile copolymer market include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

The development of end-use sectors such as cosmetics, medical, plastics, and packaging, among others, is assisting the market for styrene acrylonitrile copolymer. Furthermore, the expanding usage of styrene acrylonitrile in medical applications such as dental equipment, autoclavable devices, and medical light diffusers is a major driver for the expansion of the styrene acrylonitrile copolymer business. As a result, the medical industry’s expansion is likely to have a substantial impact on the industry’s expansion. Furthermore, the product is widely utilised in the fabrication of plastics used in industry and offices due to its high strength, dimensional stability, and alkali resistance.

The adoption of modern materials and technology, as well as capacity expansion by key industry players, are projected to help the market grow throughout the forecast period. Furthermore, rising product demand in the cosmetics industry for usage in compact and lipstick case packaging, as well as a growing preference for rigid packaging in personal care goods, are likely to add to industry growth.

Key Market Players

The major players in the market are Ineos Group Ltd, LG Chem Ltd, RTP Company, Trinseo S.A., Chi Mei Corporation, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

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