Global Styrene Acrylonitrile (SAN) Resins Market to reach USD 3 billion by 2027.Global Styrene Acrylonitrile (SAN) Resins Market is valued approximately USD 2.51 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 2.6 % over the forecast period 2021-2027.
Styrene acrylonitrile resin is a type of plastic which consist of styrene and acrylonitrile. It is also known as SAN. It is widely used in cosmetics and pharmaceutical industries due to its greater thermal resistance. SAN resins are widely used for making containers for cosmetics and personal care products like toothbrushes and other makeup brushes.
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The resin is also used for making cups, trays, covers, containers, cassette cases, juicers, and mixers, disposable lighters, hangers, doorknobs. Rising personal care industry and growing medical sector has led the adoption of Styrene Acrylonitrile (SAN) Resins across the forecast period. According to Statista Revenue in the Personal Care segment is projected to reach USD 254.9 billion in 2021.Revenue is expected to show an annual growth rate (CAGR 2021-2025) of 5.68%, resulting in a projected market volume of USD 317.9 billion by 2025. Also, with the increasing demand from end use industries the adoption & demand for Styrene Acrylonitrile (SAN) Resins is likely to increase the market growth during the forecast period. However, negative impact of covid 19 on small scale industries is likely to affect the growth of the market over the forecast period of 2021-2027.
The key regions considered for the global Styrene Acrylonitrile (SAN) Resins market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to Overall production and Volume. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027. Factors such as urbanization coupled with rising GDP, high demand from end-use industries would create lucrative growth prospects for the Styrene Acrylonitrile (SAN) Resins market across Asia-Pacific region.
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Major market player included in this report are: Samsung Cheil Industries INEOS Chi Mei Ningbo LG Yongxing Chemical China National Petroleum SABIC Formosa Plastics Toray Tianjin Dagu Chemicals PetroChina
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type: Suspension Emulsion Continuous mass Polymerization
By End Use Industry: Consumer goods Electrical & electronic appliance Packaging, Automotive Building & construction Medical, Graft polyols
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By Region: North America U.S. Canada Europe UK Germany France Spain Italy ROE
Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019 Base year – 2020 Forecast period – 2021 to 2027
Target Audience of the Global Styrene Acrylonitrile (SAN) Resins Market in Market Study:
Key Consulting Companies & Advisors Large, medium-sized, and small enterprises Venture capitalists Value-Added Resellers (VARs) Third-party knowledge providers Investment bankers Investors
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