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Styrenic Transparent Resins Market

Styrenic Transparent Resins Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2021-2031

Styrenic Transparent Resins: Introduction

  • Styrenic transparent resins are amorphous thermoplastics. They are used for their rigidity; clarity; excellent gloss; resistance to heat and chemicals; good processability; and load-bearing properties.
  • Styrenic transparent resins are available in different types such as styrene-acrylic resins, styrene-acrylonitrile resins, and styrene-butadiene copolymers resins
  • Styrenic transparent resins do not melt suddenly; rather, they soften at a certain temperature. These resins offer impact resistance, excellent transparency, and hinge performance. They are widely used as reinforcing agents. They can also be compounded with general-purpose polystyrene without impairing transparency. Styrenic transparent resins are used in medicine, transportation, consumer goods, and electronics industries.

Key Drivers and Restraints of Styrenic Transparent Resins Market

  • Styrenic transparent resins are primarily used in the medical sector. Many medical device engineers are replacing outdated metal devices with contemporary plastic ones due to superior rigidity, clarity, excellent gloss, heat resistance, good processability, load-bearing strength, and resistance to chemicals. Medical device manufacturers are opting for styrenic transparent resins for manufacturing medical equipment across the world. Styrenic transparent resins are gaining acceptance in the global medical sector due to their major application in medical autoclavable devices, light diffusers, and dental applications. Increase in advancement in medical equipment and devices is expected to boost the global styrenic transparent resins market in the next few years.
  • Growth in urbanization, rise in disposable income of consumers, and increase in preference of diverse culinary lifestyles have contributed to a rise in demand for consumer goods and food. Styrenic transparent resins are used in food packaging and consumer goods. Rise in adoption of styrenic transparent resins in food packaging applications is anticipated to fuel the styrenic transparent resins market in the near future.
  • Lack of awareness about styrenic transparent resins in many application sectors is likely to restrain the global styrenic transparent resins market in the near future

Styrenic Transparent Resins: Application Segment

  • Based on application, the global styrenic transparent resins market can be segmented into medicine, transport, consumer goods, electronics, industrial, and others
  • Demand for styrenic transparent resins is high in the manufacture of consumer goods such as packaging for a wide range of personal care products, toothbrush handles, hangers, food containers, personal computers, televisions, house ware, marine instruments, and other handheld devices. This is driving the consumer goods segment of the market.

Asia Pacific to Hold Leading Share of Styrenic Transparent Resins Market

  • In terms of region, the styrenic transparent resins market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is expected to hold major share of the global styrenic transparent resins market, followed by North America and Europe, during the forecast period. Rise in demand for consumer goods in China, Japan, and India is expected to create lucrative opportunities for the market in the region during the forecast period. Asia Pacific is likely to continue to hold major share of the global styrenic transparent resins market due to growth in urbanization and high demand for these resins in various end-use industries. Being the largest styrenic transparent resins consumer, China is estimated to be the key country of the styrenic transparent resins market in Asia Pacific in the near future.
  • Transportation and appliance industries are some end-use industries expected to drive styrenic transparent resins market growth in the U.S. Italy, Germany, and France

COVID-19 Impact on Styrenic Transparent Resins Market

  • On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
  • Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
  • Manufacture of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the global styrenic transparent resins market.

Key Manufacturers Operating in Styrenic Transparent Resins Market

The global styrenic transparent resins market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the styrenic transparent resins market include:

  • BASF SE
  • Denka Chemical Holdings
  • Ineos
  • Eastman
  • Daicel Polymer
  • Styrolution
  • Toray Industries
  • Chevron Phillips Chemical Company
  • World Class Plastics
  • Sabic Innovative Plastics
  • Chroma Color
  • Ningbo LG Yongxing Chemical
  • Samsung Cheil Industries

Styrenic Transparent Resins Market: Research Scope

Styrenic Transparent Resins Market, by Type

  • Extrusion Molding
  • Injection Molding
  • Others

Styrenic Transparent Resins Market, by Application

  • Medicine
  • Transport
  • Consumer Goods
  • Electronics
  • Industrial
  • Others

Global Styrenic Transparent Resins Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
Styrenic Transparent Resins Market

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