Acrylonitrile Producers Market Size, Major Key Players 2021: Business Opportunities and Drivers, Technologies, Forecast to 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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