H1 2023: In the first half of 2023, the Styrene Acrylonitrile (SAN) market in the Asia Pacific region witnessed mixed prices. Although, in the first three months of March 2023, Styrene Acrylonitrile (SAN) prices experienced minimal fluctuations. Amid a gradual improvement in China's economic outlook, industry participants adopted a cautious, wait-and-see approach. Furthermore, the first quarter of 2023 witnessed the influence of diminished downstream demand from the consumer goods sector on the price of Styrene Acrylonitrile (SAN) in the APAC market. In response to the country's sluggish economic recovery, market players strategically reduced inventory levels at narrower profit margins. In the Asia-Pacific region, the Styrene Acrylonitrile (SAN) CFR market observed a significant decline during the second quarter of 2023, especially in China. Initially, China maintained stability, supported by moderate demand from related downstream construction and packaging industries. However, the absence of robust support from lower feedstock Styrene and Acrylonitrile prices compelled market participants to reduce prices for this commodity. A drop in demand from key sectors, including packaging and consumer goods, further impacted the market. As May 2023 unfolded, SAN began exhibiting a diminishing trend due to sluggish demand from downstream businesses. The month of June 2023 brought additional challenges, with weak feedstock Styrene prices adding pressure to SAN market sentiments. Moreover, demand from downstream industries continued to decline in China. In the Chinese market, buyers approached transactions cautiously, influenced by the abundance of affordable inventories in the domestic market.
The global Styrene Acrylonitrile (SAN) market stood at approximately 690 thousand tonnes in 2022 and is anticipated to grow at a healthy CAGR of 4.68% during the forecast period until 2032.
Styrene-Acrylonitrile (SAN) resin, a copolymer composed of styrene and acrylonitrile, typically contains 70%-80% styrene and 20%-30% acrylonitrile. Manufactured through continuous mass polymerization, suspension, and emulsion processes, SAN resins offer valuable properties such as high rigidity, favorable flow characteristics, chemical resistance, elevated heat resistance, dimensional stability, and efficient processability. Despite their inherent brittleness, SAN resins provide optical transparency. Recognized for facilitating easy production, delivering high performance, ensuring economic feasibility, and offering design flexibility, materials incorporating SAN find applications across various industries globally.
SAN resins possess distinct characteristics, including higher processing temperatures, increased flammability, lower impact strength, and greater water absorption. SAN resins are utilized in diverse applications such as electronic lenses, air conditioner impellers, switches, marine instruments, housewares, automotive trim, and medical devices. They are increasingly adopted in the medical sector for applications like medical light diffusers, autoclavable devices, and dental components due to their dimensional stability, resistance to acid and alkali, and robust strength. SAN's versatility extends to printers, lamps, drawing equipment, calculators, cylindrical impellers for air-conditioners, and various office supplies. The personal care industry also leverages SAN's packaging capabilities in products like bottle caps, lipstick tubes, nozzles, and compact cases. Overall, the multifaceted attributes of SAN contribute to its growing acceptance and application in diverse industrial and commercial sectors globally. SAN resin is extensively employed in various sectors for packaging purposes, encompassing personal care items such as toothbrushes and cosmetic tools like makeup brushes. The material is widely utilized in the production of food storage containers and packaging materials for fresh food. Plastic kitchenware items like spoons, ladles, spatulas, forks, and chopping boards predominantly rely on SAN resin. The packaging segment holds the largest share in the styrene-acrylonitrile industry segment due to its diverse range of applications. The global Styrene Acrylonitrile (SAN) market size is anticipated to reach nearly 1100 thousand tonnes by 2032.
Based on region, Asia Pacific region is the largest consumer of Styrene Acrylonitrile (SAN) and is likely to dominate the Styrene-Acrylonitrile (SAN) market in the forthcoming years, driven by robust industrial growth and burgeoning economic activities, particularly in countries like China and India. The region's expanding manufacturing sector, coupled with the increasing preference for SAN-based products, contributes significantly to its market dominance. Key industries such as Electronics and automotive, major consumers of SAN in applications like automotive trim and consumer goods materials, are witnessing substantial growth in the Asia Pacific. The rising middle-class population and ongoing urbanization further fuel the demand for SAN-derived products. Favourable government policies, substantial infrastructure investments, and a focus on technological advancements underscore the region's pivotal role in SAN production and consumption. As the Asia Pacific continues its economic ascent, it is expected to maintain its leadership in the global SAN market landscape.
Based on the end-user industry, the global Styrene Acrylonitrile (SAN) market is divided into Consumer Goods, Packaging, Automotive, Electrical and Electronics, and Others. However, Packaging Industry dominates the global Styrene Acrylonitrile (SAN) market followed by the Electrical and Electronics industry.
Major players in the Global Styrene Acrylonitrile (SAN) market are Asahi Kasei Corporation, Blackwell Plastics, LG Chem, SABIC, TORAY INDUSTRIES, INC., CHIMEI, China Petrochemical Corporation, Formosa Plastics Corporation, Hardie Polymers, INEOS, Trinseo, and Others.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Styrene Acrylonitrile (SAN) which covers production, demand and supply of Styrene Acrylonitrile (SAN) market in the globe.
• To analyse and forecast the market size of Styrene Acrylonitrile (SAN)
• To classify and forecast Global Styrene Acrylonitrile (SAN) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Styrene Acrylonitrile (SAN) market in the globe.
To extract data for Global Styrene Acrylonitrile (SAN) market, primary research surveys were conducted with Styrene Acrylonitrile (SAN) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Styrene Acrylonitrile (SAN) market over the coming years.
ChemAnalyst calculated Styrene Acrylonitrile (SAN) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Styrene Acrylonitrile (SAN). ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Styrene Acrylonitrile (SAN) manufacturers and other stakeholders
• Organizations, forums and alliances related to Styrene Acrylonitrile (SAN) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Styrene Acrylonitrile (SAN) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Styrene Acrylonitrile (SAN) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
690 thousand tonnes
Market size Volume in 2032
1100 thousand tonnes
Growth Rate
CAGR of 4.68% from 2023 to 2032
Base year for estimation
2022
Estimated Year
2023
Historic Data
2015 – 2021
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Foreign Trade.
Segments covered
By End-Use: (Consumer Goods, Packaging, Automotive, Electrical and Electronics, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Styrene Acrylonitrile (SAN) market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Styrene Acrylonitrile (SAN).
3. Capacity By Location
To better understand the regional supply of Styrene Acrylonitrile (SAN) by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Styrene Acrylonitrile (SAN) by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Consumer Goods, Packaging, Automotive, Electrical and Electronics, and Others) are creating a market and the forecast for the growth of the Styrene Acrylonitrile (SAN) market.
7. Demand by Region
Analyzing the change in demand of Styrene Acrylonitrile (SAN) in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Styrene Acrylonitrile (SAN). Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Styrene Acrylonitrile (SAN).
10. Company Share
Figure out what proportion of the market share of Styrene Acrylonitrile (SAN) is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Styrene Acrylonitrile (SAN).
12. Country-wise Export
Get details about quantity of Styrene Acrylonitrile (SAN) exported by major countries.
13. Country-wise Import
Get details about quantity of Styrene Acrylonitrile (SAN) imported by major countries.
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of Styrene Acrylonitrile (SAN) in terms of volume in 2022?
Ans:
The global market size of Styrene Acrylonitrile (SAN) had reached approximately 690 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Styrene Acrylonitrile (SAN)?
Ans:
Asia Pacific region is the leading consumer of Styrene Acrylonitrile (SAN) globally.
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