Acrylonitrile Producers Market : Global Industry , Growth, Opportunity and Forecast 2021-2027
Market
Overview
In terms of value, the global
acrylonitrile styrene acrylate (ASA) market is expected to reach USD 1,050.6
Million in 2025 and register a CAGR of 6.1%. Acrylonitrile styrene acrylate
(ASA) is produced by copolymerization reaction between styrene and
acrylonitrile. It is tough and exhibits properties such as thermal stability,
chemical resistance, and rigidity.
Acrylonitrile Producers Market is significantly used in the
construction industry. The increasing spending on renovation activities is
driving market growth. Additionally, increasing investments in infrastructure
projects such as transportation, water management, and energy sectors are
favoring the growth of the acrylonitrile styrene acrylate market in the region.
In the US, revenue from the construction industry crossed USD 1 trillion in
2016–2017 and is expected to reach USD 1.7 trillion by 2020.
Moreover, the exterior parts
of automobiles require high-performance materials such as ASA to protect them
from harsh weather conditions and aging. The application of ASA in the
manufacturing of automobile components has increased owing to its unique
properties and increasing preference for lightweight vehicles.
Regional
Analysis
The Asia-Pacific market is
projected to register a healthy CAGR during the forecast period due to high
public sector investments in the construction industry. The growing
urbanization in the Philippines, India, Indonesia, and China has increased the
spending in infrastructure development. The US is expected to be the leading
market in North America; it registered a CAGR of 5.2% in 2018. The South and
West regions are projected to register a CAGRs of 6% and 5%, respectively.
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Competitive
Analysis
The prominent players in the
global acrylonitrile styrene acrylate (ASA) market include Lauren International
(US), BASF SE (Germany), A. Schulman (US), LANXESS (Germany), INEOS Styrolution
Group GmbH (Germany), LG Chem Ltd (South Korea), Chi Mei Corporation (Taiwan),
Entec Polymers (US), and SABIC (Saudi Arabia).
Market
Segmentation
The global acrylonitrile
styrene acrylate (ASA) market has been segmented on the basis of manufacturing
process, application, and region. By manufacturing process, the global
acrylonitrile styrene acrylate (ASA) market has been divided into extrusion,
coextrusion, injection molding, and others. The extrusion segment held
significant market share in 2018 and is estimated to be dominant in the next
five years owing to the growing use in the construction industry. The global
market has been segmented based on application into automotive, construction,
furniture, and others. The high demand for ASA in the construction industry is
expected to fuel the growth of the segment during the review period.
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