Styrene Acrylonitrile (SAN) Resins Market -
Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2016 - 2024
Global Styrene Acrylonitrile (SAN) Resins Market: Snapshot
The growth of the consumer electronics industry is the primary factor driving the
demand for styrene acrylonitrile resins. SAN resins are widely used in consumer
electronics, including PCs, TVs, most handheld devices, and personal care products.
Consequently, the current growth in smartphone sales is providing SAN resins
manufacturers a good chance for generating optimum revenues. Additionally, the
future demand for styrene acrylonitrile resins could come from its growing use in
packaging for personal care products.
The global styrene acrylonitrile (SAN) resins market is thus expected to be valued
around US$2.8 bn by the end of 2024. This market was recorded at US$2 bn in 2015
and is projected to expand at a CAGR of 4.0% within a forecast period from 2016 to
2024, in terms of revenue. By volume, this global market is progressing at a CAGR
of 3.0% within the same forecast frame..
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acrylonitrile-resins-market.html
Asia Pacific Holds Better Part of Demand for SAN Resins
In 2015, the Asia Pacific region accounted for nearly 54% of the global styrene
acrylonitrile resins volume. This market share is expected to rise even further by
2024, owing to the massive demand for SAN resins shown by China. China has been
the largest consumer of SAN resins in the past ten years and is expected to remain
the dominant consumer till 2024. The nations holds major opportunities for SAN
resins producers due to its low cost of operations in the plastics industry, coupled
with the heavy investments in it. Most players regard China as the most attractive
market in the world for styrene acrylonitrile resins.
North America and Europe are showing similar trends in SAN resins demand. Both
regions are ramping up their SAN resins consumption in the industries of consumer
goods and packaging. Consumer goods will remain the fastest growing end user
across all regions.
The U.S. is the largest country in North America, in terms of SAN resins
consumption, and was the second-largest consumer of SAN resins in the world in