Valued at USD 829.06 Million in 2021, global sales of acrylic styrene acrylonitrile resins are projected to increase Y-o-Y at 6.1% to reach USD 879.63 Million in FY 2022. In the long run, the industry is poised to flourish at a steady 5% value CAGR and yield a revenue share of USD 1,432.74 Million.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 829.06 Million |
| Expected Market Value (2022) | USD 879.63 Million |
| Anticipated Forecast Value (2032) | USD 1,432.74 Million |
| Projected Growth Rate (2022 to 2032) | 5% CAGR |
Because of its good weather resistance, high strength, high temperature, and high UV resistance, acrylic styrene acrylonitrile resin is widely used in the automotive, construction, electronic & electrical, and packaging industries, among others.
In general, the antistatic properties of acrylic styrene acrylonitrile resin make the surface dust-repellent. Acrylic styrene acrylonitrile resin has a competitive advantage over styrene polymer and acrylonitrile butadiene styrene, among others, due to its cost-effectiveness, chemical resistance, stability, and performance. Extrusion-grade and injection-grade acrylonitrile butadiene styrene resins are available in the industrial market.
Extrusion-grade acrylonitrile butadiene styrene resins, for example, have high UV resistance and weather ability, so demand these resins is steadily increasing in the automotive industry. It is also used in the electronic and electrical industries due to its flame-retardant properties and roughness. Acrylic styrene acrylonitrile resin is used in the construction industry to make window and door fittings, pipe fittings, roofing, and ducts, among other things.
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With the expansion of automotive production around the world, the demand for raw materials used in component manufacturing is also rising. As an example, acrylic styrene acrylonitrile resins are widely used in the production of automotive exterior components such as mirror housing, radiator grills, and so on, as well as interior components such as overhead compartments and so on. Furthermore, the global automotive production is expected to grow at a CAGR of 3.9% over the forecast period. As a result, rising global automotive production will drive demand for
Acrylic styrene acrylonitrile resin over the forecast period. Another factor driving the market growth is the increasing use of acrylic styrene acrylonitrile resin in the construction industry. This is primarily due to increased investment in infrastructure development, particularly in the commercial and housing sectors, which is expected to provide the impetus for the growth of the Acrylic styrene acrylonitrile resin market.
The availability of substitute polymers, as well as fluctuating raw material prices, may stymie the growth of the global Acrylic styrene acrylonitrile resin market over the forecast period. The high cost of acrylic styrene acrylonitrile resin may stifle market growth of acrylic styrene acrylonitrile resin.
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Growing demand for acrylic styrene acrylonitrile resin has resulted from the Asia Pacific region's growing manufacturing and construction industries. Over the forecast period, the APAC acrylic styrene acrylonitrile resin market is expected to grow at a healthy CAGR.
According to Future Market Insights, North America is expected to dominate the Acrylic styrene acrylonitrile resin market in the coming years. Growth in the building and construction market in North America is driving the Acrylic styrene acrylonitrile resin market.
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The manufacturer of acrylic styrene acrylonitrile resins is focusing on organic growth. Manufacturers are expanding their production capacity in order to increase their footprint in both the regional and global markets. The following are some of the key players identified across the value chain of the Acrylic styrene acrylonitrile resins market: LG Chem Ltd., SABIC, INEOS Styrolution America LLC, Networks Polymers Pvt Ltd, Chi Mei Corporation, FORMOSA CHEMICALS & FIBRE CORPORATION, BASF SE and Long Yue (Dongguan) Engineering Plastics Industry Co., Ltd. among others.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Grade, Application, Region |
| Regions Covered | North America; Western Europe; Eastern Europe; Asia Pacific Excluding Japan; Japan; Latin America; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa |
| Key Companies Profiled | LG Chem Ltd.; SABIC; INEOS Styrolution America LLC; Networks Polymers Pvt Ltd; Chi Mei Corporation; FORMOSA Chemicals & Fibre Corporation; BASF SE; Long Yue (Dongguan) Engineering Plastics Industry Co., Ltd. |
| Customization | Available Upon Request |
FMI projects the global Acrylic Styrene Acrylonitrile Resin market to expand at a 5% value CAGR by 2032
Asia Pacific is expected to be the most opportunistic Acrylic Styrene Acrylonitrile Resin market.
LG Chem Ltd., SABIC, and INEOS Styrolution America LLC are some prominent Acrylic Styrene Acrylonitrile Resin manufacturers
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Process 5.1. Injection Molding 5.2. Extrusion Molding 5.3. Co-extrusion Molding 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-use 6.1. Automotive 6.2. Building & Construction 6.3. Electrical & Electronics 6.4. Consumer Goods 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. East Asia 7.5. South Asia & Pacific 7.6. Middle East and Africa 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. South Asia & Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Ravago Group 16.2. INEOS Styrolution Group GmbH 16.3. SABIC 16.4. TORAY INDUSTRIES, INC. 16.5. LG Chem 16.6. Chi Mei Corporation 16.7. Formosa Chemicals & Fibre Corporation 16.8. Lyondell Basell Industries Holdings B.V. 16.9. Dongguan Engineering Plastics 16.10. Shandong Ruifeng Chemical Co., Ltd. 17. Assumptions & Acronyms Used 18. Research Methodology
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Acrylic styrene acrylonitrile resin Market
