Growth in Consumption of Packaged Food Products Expected to Drive Global Ms Resin (SMMA) Market : Ken Research

MS resin is also called Styrene methyl methacrylate (SMMA). It is a transparent copolymer, which is generally composed of styrene-monomer and methyl-methacrylate. MS resin or SMMA replaces the customary plastics and conservative thermoplastic-elastomers in the automotive applications. It is a very lucrative alternative to higher-priced clear resins including Acrylic PMMA. MS resin provides many advantages for instance low-hygroscopicity, ease-of-processing, good weather resistance, excellent transparency, extraordinary optical properties and low residual stress for molded products. The MS resin market is expected to expand at a fixed pace owing to low cost of MS and superior mechanical properties during the forecast period.

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MS resin-based food containers have essential properties including resistance to humidity, gas and heat. It provides high tensile strength, durability and chemical resistance. Moreover, MS resin has an extensive range of applications in the automotive industry such as care & heavy vehicle windows, light accessories, sunroofs, windshields and interior & exterior trims. The MS resin market is primarily driven by growth in transportation and automotive industries. Additionally, surge in adoption of MS resin as an alternative to the acrylic is another factor that drives the growth of market.

Referring to the study, Global MS Resin (SMMA) Industry Research Report 2021 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2027. Some of the key companies operating in the global MS resin market include INEOS Styrolution, Nippon Steel & Sumikin, Denka, A. Schulman (Network Polymers), LG MMA, Chi Mei, Deltech Polymers, Resirene and among others.

Based on types, MS resin market can be segregated as food grade, ordinary grade and optical grade. In addition, based on application types, market can be segregated as medical care, construction, automobiles, electronics, optics, toys & leisure and others.

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Increase in literacy rate, followed by rise in sales of smart devices & consumer electronic products, growth in industrialization, increase in use of MS Resin in the food & beverage industry, growth in purchasing power and increase in penetration of smart devices, such as tablets, Smartphone, and laptops are some major factors, which are responsible for growth of the MS resin market. Apart from this, increase in competition from substitutes and raw material volatility may impact the market. Moreover, development of BPA-free range of SMMA, growth in consumption of packaged food product and rise in availability of potential substitutes are leading opportunities for global market.

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Based on regional analysis, the North-America is a leading region in global MS resin market owing to rise in demand for copolymers in various manufacturing processes and growth in automotive industries across the region. The Asia-Pacific and Europe regions are anticipated to exhibit higher growth rate due to presence of various manufacturing sites and rise in demand for MS resin from end-use industries over the forecast period. It is predicted that future of the global MS resin market will be bright on account of growth in adoption of MS resin as an alternative for acrylic coupled with rise in demand for house appliances industries during the forecast period.

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