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Medical Styrenic Polymers Market Size By Product (Polystyrene, Acrylonitrile Butadiene Styrene [ABS], Styrene Acrylonitrile [SAN], Methyl-Methacrylate Butadiene Styrene [MBS], Methyl-Methacrylate Acrylonitrile Butadiene Styrene [MABS], Styrene Methyl–Methacrylate [SMMA], Styrene Butadiene Styrene [SBS], Styrene Ethylene Butylene Styrene [SEBS]), By Application (Medical Packaging, Medical Containers, Medical Instruments, IV Solution Bags, Medical Fabrics), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

  • Report ID: GMI1821
  • Published Date: Jul 2020
  • Report Format: PDF

Industry Trends

Medical Styrenic Polymers Market size was valued at around USD 3.2 billion in 2019 and will exhibit a growth rate of over 5.7% CAGR from the period of 2020 to 2026.  The demand for styrenic polymers is mainly driven by its rising preference over traditional polymers and metals, owing to growing concerns over environmental threats.

Poly vinyl chloride (PVC) is among the most popular thermoplastic used across medical industry. Moreover, another factor driving the medical styrenic polymers market is the drastic shift from traditionally used metallic devices to polymer based medical devices, owing to its wide advantages over metallic devices. Polymer based medical highly desirable in medical applications mainly due to its design versatility, easy disposability. light weight, cost effectiveness and better aesthetics. This shift in preference is anticipated to positively contribute to the overall market size during the forecast period.

Medical Styrenic Polymer Market Statistics

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A variety of styrenic polymers such as, SMMA, ABS, SAN, MABS, SBCs, MBS, etc. is employed in medical applications. Polystyrene is among the most common polymer types of styrenic copolymer and constitute a major chunk of the overall medical styrenic polymers market mainly due to several excellent properties such as aesthetics, color stability and melt flow consistency among others. The other most commonly used styrenic polymers are SEBS and ABS.

Styrenic polymers are widely used in containers, IV solution bags, packaging, fabrics and other applications such as tubing’s, multiflow devices etc. Medical packaging constitutes a major chunk which accounts for approximately 20% of the total medical styrenic polymers in 2019. Medical packaging includes packaging for pharmaceutical capsules, tablets, liquids, ointments, powders and creams, as well as for overwrapping medical devices via material made up of ABS, polystyrene, SBS, MBS, SEBS, etc. These growing applications of styrenic polymers in medical devices will positively impact the medical styrenic polymers market share throughout the forecast period. However, the high price of styrenic polymers is projected to be a major factor retraining the overall market during the assessment period.

Indispensable use of Polystyrene will complement growth

Medical Styrenic Polymer Market by Product

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Polystyrene will constitute approximately 50% of the total industry share in 2026. It is the most widely applicable styrenic polymer in the medical industry. It provides several desirable attributes such as excellent flow consistency and color stability, good resistance to ethylene oxide sterilization process, UV light sterilization process as well as to gamma and electron beams.

ABS and SEBS are other major segments in the overall market. Acrylonitrile butadiene styrene held a market share of over 12% in terms of revenue in 2019 and is projected to grow at a CAGR of over 6% during the review period. The other medical styrenic polymers market segment include Acrylonitrile Styrene Acrylate (ASA), Styrene Isoprene Butadiene Styrene (SIBS), Unsaturated Polyester Resin (UPR), etc. ASA exhibits similar properties to ABS such as high gloss, good chemical and heat resistance and high impact strength at low temperatures hence are widely used in medical devices across the globe.

The increasing application of medical styrenics in packaging applications to drive the overall market

Medical Styrenic Polymer Market by Application

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Medical instrument was the largest segment in 2019 and is projected to exhibit a CARG of 6.8% throughout the forecast period. Medical instruments segment includes medical drip chambers, dry powder inhaler, diagnostic instruments, disposable laboratory ware, petri dishes, tissue culture components, flasks, pipettes, etc. The growing demand for styrenic polymers in these applications shall substantially contribute to the growth of the medical styrenic polymers market segment during the assessment period.

Moreover, the ongoing pandemic across the globe has further propelled the demand for medical instruments in turn boosting the demand for medical styrenic polymers. The aforementioned trends along with stringent regulations against using harmful polymer materials has triggered demand for styrene-based polymers in medical instruments which shall further generate substantial gain for the medical styrenic polymers market.

Medical packaging was another major segment in 2019 and held a market share of over 22% in terms of revenue. Stringent regulations imposed by regional regulatory bodies to reduce impact of harmful and toxic materials release in the environment is a key factor which is replacing conventional polymers such as polycarbonate, polyvinyl chloride, etc. with styrene-based polymers as packaging material in the medical industry. Styrenic polymers are plasticizer free and impose no or minimum harm on the environment. For instance, polystyrene which is the most common styrenic polymer as packaging materials owing to its excellent environmental qualities.

The other application segment held a market share of over 5% in 2019. The other application segment for medical styrenic polymer market includes hemodialyzer housing, medical tubing, IV connectors, valves, multi flow devices, etc. which are formed from ABS, SAN, MBS, Polystyrene, etc.

Asia Pacific to generate substantial revenue gains throughout the assessment period

Medical Styrenic Polymer Market by Region

North America held the largest share of over 38% of the total market size in 2019. This can be attributed to growing healthcare spending in the North American region. Moreover, the presence of strict healthcare standards and regulations has resulted in the substitution of conventional metallic devices to thermoplastic elastomer owing to their easy processability and their compliance with the environmental regulations. North American market was closely followed by the European market and shall exhibit similar growth trends throughout the giver period 2020-2026

Capacity expansion is one of the major strategic outlooks of the overall market

Capacity expansion is one of the commonly witnessed strategies in the global market. The major companies in the medical styrenic polymers industry are seen to expand their manufacturing capacity to cater to a larger target market. Some of the key product producing companies include Styrolution group GmbH, BASF, Trinseo, SABIC, Chi Mei, Kraton, Chevron Phillips Chemical, Bayer MaterialScience, Nova Chemical, LG Chem, ELIX Polymers, Mitsubishi Chemical Holding, Ovation Polymers, Grupo Dynasol, and Formosa Chemical & Fibre Corporation among others.

Medical styrenic polymers market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in million square meters & revenue in USD million from 2015 to 2026, for the following segments:

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By Product

  • Polystyrene
  • ABS
  • SAN
  • MBS
  • MABS
  • SMMA
  • SBS
  • SEBS
  • Others

By Application

  • Medical packaging
  • Medical containers
  • Medical instruments
  • IV solution bags
  • Medical fabrics
  • Others

By Region:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • China
    • India
    • Australia
    • Japan
    • Indonesia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • GCC
Authors: Kiran Pulidindi

Frequently Asked Questions (FAQ) :

medical styrenic polymer market’s recorded worth was USD 3.2 billion in 2019.

The medical styrenic polymer market is likely to register a crcr of 5.7% over the forecast period.

Increasing preference for styrenic polymers as opposed to conventional polymers and metal on account of increasing environmental concerns will push the product demand.

Medical packaging applications held more than 20% of the overall market share in 2019 and will depict appreciable growth ahead, driven by product adoption in packaging for liquids, creams, powders, pharmaceutical capsules, and tablets.

Polystyrene has excellent characteristic such as good resistance to UV light sterilization process & ethylene oxide sterilization process, high flow consistency, etc., owing to which the segment may hold around 50% of the medical styrenic polymer market share by 2026.

High demand for medical instruments such as dry powder inhaler, disposable laboratory ware, medical drip chambers, etc., that use styrenic polymers, will push segment growth, poised to register 6.8% CAGR through 2026.

Medical styrenic polymers will gain heavy traction in North America owing to rising healthcare expenditure and stringent medical care norms. North America held the biggest revenue share of over 38% in 2019.

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Premium Report Details

  • Base Year: 2019
  • Companies covered: 10
  • Tables & Figures: 202
  • Countries covered: 17
  • Pages: 204
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