The Increasing demand for Styrene-Acrylonitrile Resin (SAR) butadiene styrene in the construction and automotive industry is driving the market for Styrene-Acrylonitrile Resin (SAR).
The global Styrene-Acrylonitrile Resin (SAR) market is forecast to reach USD 16.08 Billion by 2028, according to a new report by Reports and Data. Styrene-Acrylonitrile Resin (SAR) is the main monomer of synthetic fibers commonly called acrylics, which are defined as a manufactured fiber in which the fiber-forming substance is any long-chain synthetic polymer composed of at least 85% by weight of Styrene-Acrylonitrile Resin (SAR) units.
The increasing production of carbon fiber is also likely to drive the market demand up. Most of the carbon fibers are made from an organic polymer known as polyStyrene-Acrylonitrile Resin (SAR) (PAN), which is manufactured using Styrene-Acrylonitrile Resin (SAR). Thus, growth in the demand for carbon fiber will boost the demand for the market product. Carbon fiber finds its application in aerospace and defense, wind energy, sports and leisure, and automotive, as they are lighter and stronger in comparison to steel. They are also used in the manufacturing of fishing rods, windsurfing masts and boards and kites, hockey sticks, and bicycle handlebars, which in turn propels market demand.
Asia Pacific held the largest market share throughout the forecast period. High demand for electrical and electronics, home appliances, gadgets, and automobiles in China and India are encouraging market growth. Moreover, the growth in the construction sector in the developing nations are also boosting market demand. China, Japan, Taiwan, Korea are the hub of semiconductors, and this also encourages the growth of the market.
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Further key findings from the report suggest:
Top key Players: Asahi Chemicals, SINOPEC, Petro China, Formosa Plastics Corporation, Shanghai SECCO Petrochemical Co., Mitsubishi Rayon Co., INEOS, Taekwang Industrial Co., Ascend Performance Materials Operations LLC, and Sumitomo Chemical Co, among others.
An increase in demand from the automotive industry is one of the primary reasons for the growth of the market. Manufacturers in the automotive industry are using composites and plastics in automotive structure, exterior, interior, powertrain, and electrical component as well. This is boosting the demand of the market in the segment.
Direct sales channel is one of the mode of distribution channels in the Styrene-Acrylonitrile Resin (SAR) market. These channel take the shortest route to the consumer and are sold directly to them. Most of the automotive companies have their own stores, where they sell their own manufactured cars.
Styrene-Acrylonitrile Resin (SAR) butadiene styrene is a sturdy engineering thermoplastic and amorphous polymer that is used in the production of lightweight, rigid, and molded products which are used in a diverse set of end-use applications. It is normally used to manufacture protective housing for power tools and plastic face guards for a wall socket.
Regional Outlook
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Acrylic Fiber
- Styrene-Styrene-Acrylonitrile Resin (SAR) Resin (SAR)
- Styrene-Acrylonitrile Resin (SAR) Butadiene Styrene
- Acrylamide
- Others
End-User Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Electrical and Electronics
- Packaging
- Automotive
- Constructions
Distribution Channel Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Direct
- Indirect
- Hybrid
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Table of Contents:
- Report Overview
1.1 Research Scope
1.2 Key Styrene-Acrylonitrile Resin (SAR) market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline
- Global Growth Trends
2.1 Global Styrene-Acrylonitrile Resin (SAR) market size
2.2 Latest regional market trends
2.3 Emerging growth trends
- Competitive Outlook
3.1 Global Styrene-Acrylonitrile Resin (SAR) market key players
3.2 Global Styrene-Acrylonitrile Resin (SAR) size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Styrene-Acrylonitrile Resin (SAR) market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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