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Acrylic styrene acrylonitrile resin Market

Market Insights on Acrylic styrene acrylonitrile resin covering sales outlook, demand forecast & up-to-date key trends

Acrylic Styrene Acrylonitrile Resin Market By Grade (Extrusion, Injection), Application (Automotive, Building & Construction, Electronics & Electrical) & Region - Forecast 2022-2032

Acrylic styrene acrylonitrile resin Market Overview

Valued at US$ 829.06 Million in 2021, global sales of acrylic styrene acrylonitrile resins are projected to increase Y-o-Y at 6.1% to reach US$ 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 US$ 1,432.74 Million.

Report Attribute

Details

Estimated Base Year Value (2021)

US$ 829.06 Million

Expected Market Value (2022)

US$ 879.63 Million

Anticipated Forecast Value (2032)

US$ 1,432.74 Million

Projected Growth Rate (2022-2032)

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, antistatic properties of acrylic styrene acrylonitrile resin make the surface dust repellent. Acrylic styrene acrylonitrile resin has a competitive advantage over styrenic 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 weatherability, so demand for 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.

Which are Some Prominent Drivers Spearheading Acrylic Styrene Acrylonitrile Resin Market Growth?

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, 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 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 impetus for the growth of the Acrylic styrene acrylonitrile resin market.

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What are the Challenges Faced by the Acrylic Styrene Acrylonitrile Resin Industry?

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 the market growth of acrylic styrene acrylonitrile resin.

Why is Asia-Pacific emerging as an Opportunistic Acrylic Styrene Acrylonitrile Resin Market?

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.

Nikhil Kaitwade
Principal Consultant
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How is North America Contributing to Growth of the Acrylic Styrene Acrylonitrile Resin Market?

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.

Market Competition

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.

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Report Scope

Report Attribute

Details

Growth Rate

CAGR of 5% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

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
  • APEJ
  • Japan
  • Latin America
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Poland
  • Russia
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • 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.

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Key Segments Profiled in the Acrylic Styrene Acrylonitrile Resin Industry Survey

Grade:

  • Extrusion Grade Acrylic Styrene Acrylonitrile Resin
  • Injection Grade Acrylic Styrene Acrylonitrile Resin

Application:

  • Acrylic Styrene Acrylonitrile Resin for Automotive
  • Acrylic Styrene Acrylonitrile Resin for Building & Construction
  • Acrylic Styrene Acrylonitrile Resin for Electronics & Electrical
  • Acrylic Styrene Acrylonitrile Resin for Other Applications

Region:

  • North America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Latin America
  • Middle East and Africa

Frequently Asked Questions

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

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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Acrylic styrene acrylonitrile resin Market