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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. 

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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. 

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. 

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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:

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Russia
• APAC
• China
• India
• Japan
• Malaysia
• Indonesia
• Australia
• Latin America
• Brazil
• Mexico
• MEA
• South Africa
• Saudi Arabia
• UAE

Company Profiles:

• LG Chem
• RTP Company
• Blackwell Plastics
• Hardie Polymers
• Entec Polymers
• SABIC Innovative Plastics
• Ineos
• Trinseo
• BASF
• China National Petroleum
• Toray Industries

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 industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights, Inc.

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