Styrene Acrylonitrile Resins Market to Stand at US$2.86 Billion by 2024, Demand From Consumer Goods Industry Pushes Growth: Transparency Market Research

ALBANY, New York, March 22, 2016 /PRNewswire/ --

Transparency Market Research has published a new report titled "Styrene Acrylonitrile (SAN) Resins Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024." According to the report, the global styrene acrylonitrile resins market was valued at US$2.01 billion in 2015 and is likely to reach US$2.86 billion in 2024, expanding at a CAGR of 4.0% between 2016 and 2024.

Styrene acrylonitrile (SAN) resins are copolymers of styrene and acrylonitrile. Typically, SAN resin is composed of 70% to 80% styrene and 20% to 30% acrylonitrile. However, SAN resins are yellowish in nature and loses transparency upon injection molding, unlike polystyrene. Styrene acrylonitrile is an optically transparent material. SAN resins display several desirable properties such as mechanical strength, chemical resistance, impact resistance, and surface gloss vis-à-vis several other competing resins such as polymethyl methacrylate (PMMA), polyethylene, polystyrene, and acrylonitrile butadiene styrene (ABS). Styrene acrylonitrile resins are majorly categorized into six end-users: consumer goods, electrical & electronic appliances, packaging, automotive, building & construction, and others.

Consumer goods accounted for the largest share of the global styrene acrylonitrile resins market with more than 30% share in 2015. Demand for styrene acrylonitrile resins in the manufacture of consumer goods such as food container, toothbrush handle, and hangers among various other  applications is estimated to rise at a rapid pace during the forecast period. Furthermore, high demand for electrical & electronic appliances is projected to fuel the styrene acrylonitrile resins market during the forecast period.

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In terms of demand, Asia Pacific held the largest share of the global styrene acrylonitrile resins market in 2015, primarily due to high consumption of these resins in China and the ASEAN region. Other countries in Southeast Asia also constituted significant share of the styrene acrylonitrile resins market in 2015. Asia Pacific was followed by Europe and North America in 2015. Europe and North America accounted for the second and third largest shares, respectively, of the global styrene acrylonitrile resins market in 2015. The styrene acrylonitrile resins market in Asia Pacific is expected to expand significantly during the forecast period due to increasing usage of consumer goods and electrical & electronic appliances products in the region. Demand for styrene acrylonitrile resins in Latin America and Middle East & Africa (MEA) is anticipated to rise during the forecast period.

Companies such as LG Chem Ltd., INOES Styrolution Group GmbH, SABIC, TRINSEO S.A., Chi Mei Corporation, Techno Polymer Co., Ltd., INEOS ABS (USA) Corporation, and Formosa Chemicals & Fiber Corporation operate in the global styrene acrylonitrile resins market.

Research Report with ToC and Free Analysis: http://www.transparencymarketresearch.com/styrene-acrylonitrile-resins-market.html

The report segments the global styrene acrylonitrile market as follows: 

Styrene Acrylonitrile Resins Market - End-user Analysis 

• Consumer goods
• Electrical & electronic appliances
• Packaging
• Automotive
• Building & construction
• Others (Including medical, graft polyols, etc.)

Styrene Acrylonitrile Resins Market - Regional Analysis 

North America 

• U.S.
• Rest of North America

Europe 

• Germany
• Italy
• France
• U.K.
• Spain
• Rest of Europe

Asia Pacific 

• China
• Japan
• ASEAN
• Rest of APAC

Latin America 

• Brazil
• Rest of LATAM

Middle East and Africa 

• GCC
• South Africa
• Rest of MEA

Browse Regional Market Analysis: http://www.europlat.org/global-styrene-acrylonitrile-resins-market-to-reach-us2-86-bn-by-2024-demand-from-apac-highest.htm

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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SOURCE Transparency Market Research