Styrene-Acrylonitrile Resins Market Analysis Report To 2022

Global styrene-acrylonitrile resins market is expected to experience significant positive growth over the forecast period on account of continuous developments in plastic and medical industries mainly in Asia Pacific. Changing consumer preferences is impacting cosmetics products and battery cases which in turn is expected to positively impact the global market in the coming years. Styrene-acrylonitrile is a copolymer containing 20%-30% acrylonitrile mixed with 70%-80% styrene. Owing to its properties which include high heat resistance, rigidity, accountable processability, excellent chemical resistance, and smooth flow, the product is expected to gain importance globally in the coming years. Products in which SAN is used are generally economically feasible and offers high performance with the ease in production. They also provide hygiene property coupled with safety benefits. All the mentioned properties are expected to propel the global styrene-acrylonitrile (SAN) resins market over the forecast period. Different styrene-acrylonitrile applications are housewares, air conditioner impellers, marine instruments, swimming pool components, and meters covers.

Global styrene-acrylonitrile is segmented on the basis of applications. The application segment includes the cosmetics sector, medical sector, and consumer sector. The consumer sector is further segmented into bottle caps, lamps, calculators, writing materials, and drawing equipment. In the cosmetic sector, SAN is used in lipstick cases and compact cases while in the medical industry they are widely used in medical equipment and dental instruments.

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Asia Pacific was the largest global styrene-acrylonitrile market. China, Japan, India, and South Korea were major countries contributing to the regional market growth owing to the rise in consumer product market growth. Huge styrene-acrylonitrile (SAN) resins demand is expected from developing countries in the coming years. Stagnant market growth is expected in North America followed by Europe over the forecast period. Countries such as Italy, France, and Germany are expected to contribute significantly to Europe market growth on account of developing the appliance industry.

Global market players operating in this sector include Ningbo LG Yongxing Chemical, Chi Mei Corporation, Styrolution, Formosa Plastics Group, Toray Industries, Sabic Innovative Plastics, Samsung Cheil Industries, and China National Petroleum. The global styrene-acrylonitrile (SAN) resins market is highly fragmented in nature. Over the forecast period, industry participants are expected to expand their facilities and introduce new product lines to have a competitive edge in the global market. A significant number of new entrants are expected in the coming years.