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Styrenic Polymer Market for Medical Application 2024 Key Vendors are Chi Mei Corporation, Kraton Polymers LLC, Americas Styrenics LLC, INEOS ABS (USA) Corporation, Chevron Phillips Chemical Company
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Medical Styrenic Polymer Market size is expected to surpass USD 4.5 billion by 2024. Pressing need to substitute plastics including PVC in the medical industry owing to its hazardous environmental implications will drive medical styrenic polymers market size by 2024. PVC is extensively utilized in the healthcare industry to create devices for storing IV solutions, blood/medicine containers, tubes and connectors owing to brilliant clarity and ability to withstand broad range of temperature conditions.
However, significant amount of toxic component released from PVC which may contaminate IV fluids and migrate into human body has led to formulation of strict regulations to gradually replace these products with styrene plastic which is eco-friendly and plasticizer free making it desirable across medical & healthcare industry.
Paradigm shift from metallic medical devices to polymer devices owing to its desirable attributes which includes design flexibility, better physical characteristics, light weight and cost efficiency will make significant contribution towards medical styrenic polymer market size by 2024. In addition, increasing preference for smaller size medical devices along with complex functionality will result in escalating product demand by 2024. This is primarily due to easily micro-molding nature of plastic to produce small components with high tolerance.
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Medical instruments segment captured the highest market share and is accounted to thrust at a CAGR close to 7.5% over the projected time spell. Increasing product use to manufacture devices & equipment owing to stringent regulations imposed against PVC use is likely to make prominent contribution to medical styrenic polymers market size by 2024.
Medical fabrics segment for medical styrenic polymer market will witness promising gains owing to increasing product use to manufacture masks, operating gowns, surgical or orthopedic drapes, patient gowns, dressings in the coming years to gradually replace conventional plastic use from medical industry.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Styrolution Group GmbH
2. BASF SE
3. Americas Styrenics LLC
4. Styron LLC (Trinseo S.A.)
5. Saudi Basic Industries Corporation
6. Chi Mei Corporation
7. Kraton Polymers LLC
8. INEOS ABS (USA) Corporation
9. Chevron Phillips Chemical Company LLC
10. Bayer MaterialScience AG
11. Nova Chemicals Corporation
12. LG Chem Ltd.
13. ELIX Polymers
14. Evonik Industries
15. Covestro AG
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Asia Pacific is expected to be the fastest growing region for medical styrenic polymer market by 2024. This is credited to increasing healthcare ethics and environment friendly material use for widespread medical applications which will subsequently boost the regional medical styrene polymers market size by 2024.
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