Styrene Acrylonitrile Resins Market
Styrene Acrylonitrile (SAN) Resins Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Press Release :
The demand within the global market for styrene acrylonitrile (SAN) resins has been rising on account of key advancements in the consumer electronics industry. Styrene acrylonitrile, in essence, is a copolymer that consists of acrylonitrile and styrene, it is commonly used as a substitute for polystyrene due to the high thermal resistance offered by styrene acrylonitrile. The polymer chain alternates between acrylonitrle and styrene, and the repeated alternation of these units imparts key qualities to styrene acrylonitrile. TVs, handheld devices, PCs, and personal care products are some of the consumer electronics that are manufactured through the use of styrene acrylonitrile. The demand within the global market for styrene acrylonitrile has been escalating majorly due to the growing popularity of smart phones across the globe. Furthermore, the market for styrene acrylonitrile is foreseen to witness the inflow of massive revenues over the coming years as personal care products glut the worldwide markets.
A report by Transparency Market Research (TMR) sheds value on several key factors that have aided the growth of the global market for styrene acrylonitrile (SAN) resins. The global market for styrene acrylonitrile is projected to accumulate revenues worth US$2.8 bn by 2024-end, rising up from a value of US$2 bn in 2015. Furthermore, the global market for styrene acrylonitrile is expected to expand at a steady CAGR of 4.0% over the period between 2016 and 2024.
Consumers Goods Industry to Remain Top-User of Styrene Acrylonitrile
Based on end-users, several industries and sectors deploy styrene acrylonitrile for manufacturing a range of products. However, the demand for styrene acrylonitrile resins in the consumer electronics industry has been the highest over the past decade, majorly due to the wide product portfolio of the industry. Furthermore, styrene acrylonitrile plays a key role in enhancing the quality of consumer electronics by keeping overheating at bay. Furthermore, the use of styrene acrylonitrile in packaging of body-care products has also given an impetus to the growth of the global market. Copolymers such as styrene acrylonitrile are extensively used in the automotive industry as well, and the sheer size of the latter becomes a media for market growth. Other key segments based on end-user include buildings and constructions, electrical and electronics, appliances, and others.
Asia Pacific to Emerge as Regional Leader
The demand within the market for styrene acrylonitrile resins in North America has been on a rise over the past years, majorly due to the expansive consumer goods industry in the US and Canada. However, it is the growth rate of the market for styrene acrylonitrile in Asia Pacific that has supplanted all other growth parameters. The boisterous growth rate of the market for styrene acrylonitrile in Asia Pacific owes to the massive electrical and electronics industry in India and China. Furthermore, the governments in these countries have been promoting other key industries such as cosmetics, constructions, automotive, and appliances, which has also bolstered regional demand.
Some of the key players in the global market for styrene acrylonitrile resins are Techno Polymer Co., Ltd., LG Chem, and SABIC.
The report analyzes and forecasts the styrene acrylonitrile resins market on the global and regional level. The study provides historic data of 2015 along with forecast from 2016 to 2024 based on volume (kilo tons) and revenue (US$ Mn).
The study provides a decisive view of the styrene acrylonitrile resins market by dividing it into end-user and regional segments. End-user segments have been analyzed based on current trends and future potential. The market has been estimated from 2016 to 2024 in terms of volume (kilo tons) and revenue (US$ Mn). Regional segmentation includes current and forecast demand for SAN resins North America, Europe, Rest of Asia Pacific, Latin America, and Middle East & Africa. These regions have been further sub-segmented into countries and sub-regions with relevance to the market. Segmentation also includes demand for individual end-user type in all the regions.
The study covers drivers and restraints governing the dynamics of the market along with their impact on demand during the forecast period. Additionally, the report comprises opportunities in the styrene acrylonitrile resins market on the global and regional level.
The report includes detailed value chain analysis to provide a comprehensive view of the styrene acrylonitrile resins market. Analysis of Porter’s Five Forces model has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein applications have been benchmarked based on their market size, growth rate, and general attractiveness for future growth.
The market has been forecast based on constant currency rates. Prices of styrene acrylonitrile resins vary in each region and are a result of the demand-supply scenario in the region. Hence, a similar volume-to-revenue ratio does not follow for each individual region. Individual pricing of styrene acrylonitrile resins for each end-user has been taken into account while estimating and forecasting market revenue on the global level. Regional average price has been considered while breaking down the market into end-user segments in each region.
The report provides the size of the styrene acrylonitrile resins market in 2015 and the forecast for the next eight years. Size of the global styrene acrylonitrile resins market has been provided in terms of volume and revenue. Market volume has been defined in kilo tons, while market revenue for regions is in US$ Mn. Market size and forecast for each end-user segment has been provided in the context of the global and regional market. Numbers provided in the report are derived based on demand generated from different end-users. Market dynamics prevalent in North America and Europe have been taken into account for estimating growth of the global SAN resins market.
Market estimates for this study have been based on volume, with revenue being derived through regional pricing trends. Prices of commonly utilized grades of styrene acrylonitrile resins in each end-user have been considered, and customized end-user pricing has not been included. Demand for styrene acrylonitrile resins has been derived by analyzing the global and regional demand for styrene acrylonitrile resins in each end-user. Prices considered for calculation of revenue are average regional prices obtained through primary quotes from numerous regional suppliers, distributors, and direct selling regional producers based on manufacturers’ feedback and application requirement. Forecasts have been based on expected demand in styrene acrylonitrile resins end-users.
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players include LG Chem Ltd., INOES Styrolution Group GmbH, SABIC, TRINSEO S.A., Chi Mei Corporation, Techno Polymer Co., Ltd., INEOS ABS (USA) Corporation, and Formosa Chemicals & Fiber Corporation. Company profiles comprise attributes such as company overview, brand overview, financial overview (in terms of financial year), business strategies, and recent/key developments.
The report segments the global styrene acrylonitrile market as follows:
Styrene Acrylonitrile Resins Market - End-user Analysis
- Consumer goods
- Electrical & electronic appliances
- Building & construction
- Others (Including medical, graft polyols, etc.)
Styrene Acrylonitrile Resins Market - Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East and Africa
- South Africa
- Rest of MEA