Global Styrene-Acrylonitrile Resins Market was valued at USD xx Mn in 2019 and is expected to reach at USD xx Mn by 2027 at a CAGR of xx% over forecast period 2020-2027.
Global Styrene-Acrylonitrile Resins Market
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The report covers the analysis of COVID-19 pandemic impact on the market by region and on the key players revenue affected till April 2020 and expected short term and long term impact on the market.
Global Styrene-Acrylonitrile Resins Market Dynamics:
Styrene acrylonitrile resin is a copolymer plastic consisting of styrene and acrylonitrile. It is also known as SAN. It is widely used in place of polystyrene owing to its greater thermal resistance. The chains of the polymer show alternating repeat units of styrene and acrylonitrile, and it is a copolymer. Increasing use of acrylic styrene acrylonitrile resin in the construction industry is mainly driving the growth of the global styrene-acrylonitrile resins market. Rising investment in infrastructure development especially in commercial and housing sector in developing countries such as China, India and Japan that in turn is expected to propel the growth of acrylic styrene acrylonitrile resin market over forecast period.
However, factors such as an availability of substitute polymers and high cost of Acrylic styrene acrylonitrile resin are restraining the market growth over forecast period.
Global Styrene-Acrylonitrile Resins Market is segmented by end users and by Region. By end users medical end user segment is expected to hold highest market share over forecast period. Medical end user segment held 34.76% of market share in 2019 and is expected to keep its dominance over forecast period. Styrene acrylonitrile resins are widely used in medical applications such as autoclavable devices, dental and medical light diffusers. The Styrene-Acrylonitrile Resins are used due to their strength, dimensional stability and high resistance to alkali and acids. Medical end user segment is followed by consumer sector and construction sector. Consumer sector is expected to hold 29.43% of market share over forecast period. Increasing usage of styrene-acrylonitrile resins in various consumer products such as lamps, calculators, printers, writing and drawing equipment, cylindrical impellers for air-conditioners is driving the growth of this segment over forecast period.
By geography, APAC held 38.76% of market share in 2019 and is expected to keep its dominance over forecast period. China, Japan, India and South Korea are major countries contributing in the regional market growth owing to rise in consumer products market growth. Increasing demand from china for styrene-acrylonitrile (SAN) resins as a raw material for automotive component is expected to create lucrative opportunities for market over forecast period. APAC is followed by North America and Europe. The North America held 31.34% of market share over forecast period. Growth in the building and construction and automotive end user segment is fuelling the acrylic styrene acrylonitrile resin market in North America.
Report covers in depth analysis of key development, and company profiles of market leaders, potential players and new entrants. Some of the key players covered in this report are Samsung Cheil Industries, INEOS, Chi Mei Corporation, Ningbo LG Yongxing Chemical, China National Petroleum, Styrolution, among others. These players are adopting various Greenfield and brown filed growth strategies such as merger and acquisition, expansion, joint ventures, collaboration and strategic alliances to increase their regional presence and business opeartions. Styrolution has inaugurated a new styrene acrylonitrile unit in Gujarat to meet the growing demand for styrene acrylonitrile resins across key growth industries in India.
The objective of the report is to present a comprehensive analysis of the Global Styrene-Acrylonitrile Resins Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Styrene-Acrylonitrile Resins Market dynamics, structure by analyzing the market segments and project the Global Styrene-Acrylonitrile Resins Market. Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Styrene-Acrylonitrile Resins Market make the report investor’s guide.
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Global Styrene-Acrylonitrile Resins Market End User
• Cosmetics sector
• Medical sector
• Consumer sector
Global Styrene-Acrylonitrile Resins Market by Region
• North America
• MEA& Africa
• Latin America
Global Styrene-Acrylonitrile Resins Market Major Key players
• Samsung Cheil Industries
• Chi Mei Corporation
• Ningbo LG Yongxing Chemical
• China National Petroleum
• Sabic Innovative Plastics
• Formosa Plastics Group
• Toray Industries
• Tianjin Dagu Chemicals
• Techno Polymer
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