Styrene Acrylonitrile Resins Market By Analysis of Major Industry Segments, Growth, Share 2024

The segment of consumer goods is expanding at a CAGR of 3.5% from 2016 to 2024. It is set to be the fastest-growing end user segment for SAN resins throughout the above forecast period, owing to the very high priorities set by the retail industry on packaging aesthetics and product integrity.

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This demand is a key contributor to the 4.0% CAGR expressed by the global styrene acrylonitrile resins market between 2016 and 2024, in terms of revenue. By 2024, the global SAN resins market is expected to reach US$2.8 bn and was pegged at US$2 bn in 2015. Asia Pacific is expected to increase its market share of volume in this market, which was rated at 54.1% in 2015, owing to the high demand for SAN resins in China.

“China is the world’s largest market for styrene acrylonitrile resins and a top converter as well as producer of plastics,” states a TMR analyst. “In 2013, this nation alone held nearly 25% of the global share of plastic production by volume. This is why producers of SAN resins are all hoping to get in on the action in China,” the analyst adds.

The China plastic industry has consistently worked on high investments and low operating costs, making it an extremely lucrative location for most plastic raw material providers. This region has shown a staggering growth rate over the past decade, which implies keeping a high rate of plastics production rates though the economic meltdown that hit the world in 2009.

The global styrene acrylonitrile resins market is moderately consolidated, where top players own large shares while a larger number of small and mid-sized producers operate in some of the most fruitful regions for SAN resins demand, including China and India. INEOS Styrolution Group GmbH, Trinseo S.A., and Asahi Kasei were the top three manufacturers of SAN resins in 2015, with a collective share of 35.7% in revenue.

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