Styrene Acrylonitrile Market size is forecasted to grow at a steady pace between 2023 to 2032 fueled by increasing material use in consumer goods, cosmetics, and other prominent sectors.
Styrene acrylonitrile holds immense application scope in kitchen equipment and utensils. The material is known for its resilience to cleaning agents, oils, and transparency which make it highly suitable for making sinks, mixing bowls, and fitting for refrigerators. It is utilized for cutlery, tableware, beakers, jars, thermally insulated jug exterior casings, as well as storage containers for a variety of goods.
SAN is popular for its visual transmittance which is more than 90%, making it easily colorable. It provides excellent resistance to heat stress and good chemical resistance. The substance has a glass transition temperature of at least 100 degrees Celsius. Favorable qualities like transparency, grease resistance, stress crazing, and resistance to food stains are projected to increase demand for SAN material across multiple applications.
During the next few years, the global SAN market is anticipated to witness expansive growth due to the proliferation in the medical sector. SAN resins have become an important material used in the making of dental equipment, autoclavable devices, and medical light diffusers. Apart from this, the material’s high durability has enabled its use in offices and other commercial settings for a wide range of products, including printers, instruments, lamps, and more.
Based on the application, the cosmetic sector is expected to hold a major share of the styrene acrylonitrile market over the projected period. Due to its opaque qualities, SAN copolymer is employed as a film-forming material in a variety of personal care and cosmetics products. The copolymer has large molecules that do not penetrate the skin, making it highly desirable in cosmetic products and formulas like sunscreens and other lotions. The expanding working women population globally might fuel the use of SAN in cosmetics. According to a report by Marmara University, the female employment rate in the service sector of Turkey has reached 59.6%, while the entry of women into the labor force has increased drastically in all sectors.
The Asia Pacific styrene acrylonitrile market is predicted to expand at a decent pace attributed to the growing GDP, increased urbanization, and high product demand from end-user industries. The cosmetics and beauty sector in developing nations including China, India, and Japan is witnessing expansive growth. Estimates state that in the past decade, the Chinese beauty market expanded on average by 15% yearly, reaching RMB 300 billion in 2019 and witnessing retail sales of RMB 340 billion in 2020. The presence of leading cosmetic brands and growing awareness and demand for high-quality beauty products is likely to shape the growth trajectory of the regional styrene acrylonitrile market.
From a global standpoint, the SAN market comprises of key players like Hardie Polymers, SABIC Innovative Plastics, Blackwell Plastics, LG Chem Ltd (LG Corp), Toray Industries Inc., BASF SE, and Trinseo, among others. These companies are involved in different marketing strategies like mergers, alliances, and acquisitions, to gain a competitive edge in the industry.