Global Styrene Acrylonitrile (SAN) Resins Market, By Type (Suspension, Emulsion and Continuous Mass Polymerization), By Application (Consumer Goods, Electrical and Electronic Appliances, Packaging, Automotive, Building and Construction, Medical Devices, Graft Polyols), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Styrene Acrylonitrile (SAN) Resins Market
Data Bridge Market Research analyses that the styrene acrylonitrile (SAN) resins market will witness a CAGR of 6.20% for the forecast period of 2021-2028. Growth in the demand for styrene acrylonitrile (SAN) resins especially in the developing economies like India and China, growing use of styrene acrylonitrile (SAN) resins for a wide range of end user applications such as packaging, healthcare, electric and electronics, and others, increasing investment by the government for research and development activities and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the styrene acrylonitrile (SAN) resins market. Therefore, the styrene acrylonitrile (SAN) resins market value, which was USD 2,100 million in 2020, would stand tall by USD 3,397.93 million by 2028.
Styrene is a colorless organic compound that is derived from benzene. Therefore, styrene acrylonitrile (SAN) resins are copolymer plastics consisting of styrene and acrylonitrile that are used in place of polystyrene owing to their higher thermal resistance properties. Acrylonitrile in this compound adds a yellow tint to the usual composition of the plastic and further enhances the compounds mechanical properties.
Rise in demand for styrene acrylonitrile (SAN) resins by the buildings and construction industry in developed and developing economies is the root cause fuelling up the market growth rate. Rising application areas for styrene acrylonitrile (SAN) resins such as in the consumer goods and growth and expansion of various end user industries especially in the developing economies will also directly and positively impact the growth rate of the market. Rising demand and need for general-purpose and high-impact polystyrene, rising awareness about the benefits of styrene acrylonitrile (SAN) resins such as high rigidity, decent flow, chemical resistance, high heat resistance, and good processability, growing focus on the technological advancements and modernization in the production techniques will further carve the way for the growth of the market.
However, insufficiency in raw material demand and supply owing to the lockdown and volatility in their prices will pose a major challenge to the growth of the market. High costs associated with research and development proficiencies, rising environmental concerns and strict global trade restrictions will dampen the market growth rate. Growing penetration of alternatives in the market will also impede the market growth rate.
This styrene acrylonitrile (SAN) resins market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on styrene acrylonitrile (SAN) resins market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Styrene Acrylonitrile (SAN) Resins Market Scope and Market Size
The styrene acrylonitrile (SAN) resins market is segmented on the basis of type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of type, the styrene acrylonitrile (SAN) resins market is segmented into suspension, emulsion and continuous mass polymerization.
The styrene acrylonitrile (SAN) resins market is also segmented on the basis of application into consumer goods, electrical and electronic appliances, packaging, automotive, building and construction, medical devices and graft polyols.
Styrene Acrylonitrile (SAN) Resins Market Country Level Analysis
The styrene acrylonitrile (SAN) resins market is analysed and market size, volume information is provided by country, type and application as referenced above.
The countries covered in the styrene acrylonitrile (SAN) resins market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the styrene acrylonitrile (SAN) resins market owing to the increase in the research and development activities and increase in the demand from numerous end-user industries in this region. Asia-Pacific will continue to undergo substantial gains during the forecast period owing to the high economic growth in the emerging countries, surging urbanization and industrialization, growing industrialization, and abundant availability of raw materials.
The country section of the styrene acrylonitrile (SAN) resins market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Styrene Acrylonitrile (SAN) Resins Market Share Analysis
The styrene acrylonitrile (SAN) resins market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to styrene acrylonitrile (SAN) resins market.
Some of the major players operating in the styrene acrylonitrile (SAN) resins market report are PetroChina Company Limited, Formosa Plastics Corporation, U.S.A., INEOS Styrolution Group GmbH, CHIMEI., TORAY INDUSTRIES, INC., China National Petroleum Corporation, Tianjin Dagu Chemicals Co., Ltd., Ningbo LG Yongxing Chemical Co. Ltd., Innovative Plastics Corporation, SABIC, Cheil Worldwide, Chevron Corporation., Total, Dow, DSM, NOVA Chemicals, Bayer AG, Ashland, DuPont. and Mitsubishi Chemical Holdings Corporation among others.
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