Styrene Acrylonitrile (SAN) Market

Styrene Acrylonitrile Market anticipated to witness healthy CAGR over 2019-
2025: Global Market Insights, Inc.
According to a new research report by the market research and strategy consulting
firm, Global Market Insights, Inc, Styrene Acrylonitrile Market size is likely to witness
substantial growth from 2019 to 2025 on account of growing consumer & lifestyle
products industry across the globe. SAN is copolymer of acrylonitrile and styrene
polymers. The product has excellent glossiness and transparency. The product can
be made by two process; injection molding and extrusion.
Consumer products such as containers, cups, cover, hangers, etc. have a continuous
demand unaltered by supply dynamics. This styrene acrylonitrile market will be
primarily driven by increasing per capita income of consumers especially in Asia
Pacific and Latin America. Increased disposable income leads to high expenditure
power and consumers preferring spending on consumer & lifestyle products.
Cosmetics industry will also be highly influencing product demand over the forecast
timeframe. Cosmetics market is majorly driven by women across the globe. Rising
women workforce in every sector of economy in every nation, has increased their
disposable income leading to improved lifestyle choices and upgraded preferences for
cosmetics, which has highly benefitted cosmetics manufacturers over past few
decades.
Rising concerns towards styrene use due to its detrimental environmental effects may
pose challenge to styrene acrylonitrile market growth during the forecast timeframe.
Availability of substitutes such as polystyrene, acrylic and polycarbonate also may
hamper product demand in the coming years. Other challenges for this industry are
likely to be product commercialization at a large scale and fluctuating crude oil prices.
Variation in crude oil prices deeply impact the petrochemical derivatives business. The
supply demand dynamics highly depend on crude oil trade and therefore other players
in the supply chain get eventually affected, thus considerably influencing the polymers
production business.
On the basis of application, the global styrene acrylonitrile (SAN) market has been
segmented into consumer goods, medical devices, cosmetics and others. The product
is widely used in applications requiring chemical resistance and transparency such as
battery casings. SAN is also used in manufacturing general household items such as
covers for instruments, storage container and other kitchenware. Styrene helps in
creating products that are unique and very few substitutes for which, are available in
market. In cosmetics industry, the product is used in lipstick tube, compact and
foundation bottles, cream/lotion small size packs, mini perfume pack cases, etc.
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Asia Pacific is likely to expand at a significant CAGR in the global styrene acrylonitrile
market. Asian markets are a major revenue source for cosmetic companies. India,
Japan, South Korea, Indonesia, Malaysia and China are important cosmetics markets.
South Korea is a prominent cosmetics market as women on an average use 13 beauty
products daily. Men also have a fair share in cosmetic spending in this country, with
sales accounting for face care creams and skin lightening lotions. Presence of big
brands such as Estee Lauder, L’Oréal and Procter & Gamble, Co. in Asian countries
will drive cosmetics market significantly, which will positively influence product demand
over the forecast period.
North American medical industry will be growing significantly during the forecast
period. The product is widely used in medical & dental light diffusers and autoclave
devices in medical industry. As per National Health Expenditure Accounts (NHEA),
U.S. healthcare spending grew 3.9% in 2017, amounting to USD 3.5 trillion accounting
for 17.9% of GDP. The per capita healthcare spending was USD 10,739 per person in
the same year. Retail spending for medical products such as medical instruments,
surgical dressings, etc. grew 2.2% to USD 64.1 billion in 2017. This shall positively
influence styrene acrylonitrile (SAN) market demand in North America over the
forecast period.
The industry has presence of some of prominent polymer manufacturers including
BASF, SABIC Innovative Plastics, Toray Industries, Trinseo, Blackwell Plastics, LG
Chem, RTP Company, China National Petroleum, Hardie Polymers and Inseo. Many
small and medium sized companies are functional in this industry. Local presence
gives an edge to these small sized companies over large multi-national players.
Expanding the application scope of the product i.e., widening product usage in various
other consumer goods are general agendas of the company to promote their products
among buyers.
By Application, 2014-2025 (Tons) (USD Million)
• Consumer goods
• Medical devices
• Cosmetics
• Others
The above information has been provided for the following regions and countries:
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North America
• U.S.
• Canada
Europe
• UK
• Germany
• France
• Italy
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• Spain
• Russia
APAC
• China
• India
• Japan
• Malaysia
• Indonesia
• Australia
Latin America
• Brazil
• Mexico
MEA
• South Africa
• Saudi Arabia
• UAE
Company Profiles:
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LG Chem
RTP Company
Blackwell Plastics
Hardie Polymers
Entec Polymers
SABIC Innovative Plastics
Ineos
Trinseo
BASF
China National Petroleum
Toray Industries
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom research
reports along with growth consulting services. Our business intelligence and industry
research reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These exhaustive
reports are designed via a proprietary research methodology and are available for key
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biotechnology.
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Global Market Insights, Inc.
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