Global styrene-acrylonitrile resins market is expected to experience a 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 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 includes high heat resistance, rigidity, accountable process ability, excellent chemical resistance and smooth flow, the product is expect 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 global styrene-acrylonitrile (SAN) resins market over the forecast period. Different styrene-acrylonitrile applications are house wares, air conditioner impellers, marine instruments, swimming pool components and meters covers.
Global styrene-acrylonitrile is segmented on the basis of applications. Application segment includes cosmetics sector, medical sector and consumer sector. Consumer sector is further segmented into bottle caps, lamps, calculator, writing materials and drawing equipment. In cosmetic sector, SAN is used in lipstick cases and compact cases while in medical industry they are widely used in medical equipments 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 in the regional market growth owing to rise in consumer products market growth. Huge styrene-acrylonitrile (SAN) resins demand is expected from developing countries in 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 in Europe market growth on account of developing appliance industry.
Global market players operating in this sector includes Ningbo LG Yongxing Chemical, Chi Mei Corporation, Styrolution, Formosa Plastics Group, Toray Industries, Sabic Innovative Plastics, Samsung Cheil Industries and China National Petroleum. Global styrene-acrylonitrile (SAN) resins market is highly fragmented in nature. Over the forecast period, industry participants are expected to expand its facilities and introduce new product lines to have competitive edge in the global market. Significant number of new entrants is expected in the coming years.
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