Styrene Acrylonitrile Market Growth by Key Players: Samsung Cheil Industries, Chi Mei, INEOS, Ningbo LG Yongxing Chemical, Styrolution, China National Petroleum, Sabic Innovative plastics, Toray Industries, Formosa Plastics, Tianjin Dagu Chemicals, Styron
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Styrene acrylonitrile market is divided into five types named, polystyrene, expanded polystyrene, acrylonitrile butadiene styrene, styrene butadiene rubber and unsaturated polyester resin. The product has widespread applications in packaging, building & construction, electrical & electronic appliances and automotive. The packaging segment is expected to be the fastest growing segment due to rising demand for several types of packaging.
Rising applications in electronic lenses, house wares, radio, tractor components, meter covers, marine instruments, cups, dust covers, dial switches and CD players will drive styrene acrylonitrile market.
Rapid urbanization, increased income levels and infrastructure development are likely to boost styrene acrylonitrile market growth. Additionally, product is widely used in personal care industry for wrapping bottle caps and nozzles due to good packaging property. Rigid packaging is gaining preference in personal care products industry, due to improved shape and aesthetic value.
The product is a transparent, yellow color and rigid plastic manufactured by copolymerization of acrylonitrile and styrene. SAN has many features including, high clarity, processability, rigidity, stability, chemical & heat resistant, offers superior safety and hygiene. The product is non-biodegradable and prolong exposure should be avoided as it causes cancer. SAN offers versatility of design, high performance and simplicity of economy and production. The product is flammable, has higher water absorption capacity than polystyrene, processing temperature and minimal impact strength.
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Asia pacific region, led by China for styrene acrylonitrile market holds the largest market share owning to increasing urbanization rate and GDP growth. Other factors which include, improving economic condition, growing disposable income and demand for electronic and consumer goods will fuel the product market size.
North American market for the product is projected to experience moderate growth due to market saturation. Styrene acrylonitrile market in the region is driven by end users including, transportation and appliance industry.
Europe, dominated by France and Germany is expected to witness significant growth in styrene acrylonitrile market with rise in appliance industry in the region.
The styrene acrylonitrile market is consolidated with presence of many manufacturing companies worldwide. Some of the major companies are Samsung Cheil Industries, Chi Mei, INEOS, Ningbo LG Yongxing Chemical, Styrolution, China National Petroleum, Sabic Innovative plastics, Toray Industries, Formosa Plastics, Tianjin Dagu Chemicals, Styron, Techno Polymer and Petro China.
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