LONDON--(BUSINESS WIRE)--The global acrylonitrile styrene acrylate market is expected to post a CAGR of over 2% during the period 2019-2023, according to the latest market research report by Technavio.
Developing countries such as China, India, Indonesia, Brazil, and Mexico contribute significantly to the global acrylonitrile styrene acrylate market. An increase in the consumption of acrylonitrile styrene acrylate from the automobile, construction, and home appliances industries will have a positive impact on the market. The emergence of China and India as hubs of the construction, and automobile industries in APAC will drive the adoption of acrylonitrile styrene acrylate. Moreover, the vast consumer base and the increasing purchasing power parity in the region have led to a rapid increase in investments in the construction and automotive segments which will propel the demand for acrylonitrile styrene acrylate during the forecast period.
As per Technavio, the increasing demand from additive manufacturing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global acrylonitrile styrene acrylate market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global acrylonitrile styrene acrylate market: Increasing demand from additive manufacturing
Owing to its high weather resistance, impact strength, and durability, acrylonitrile styrene acrylate is used in the production of automotive prototypes, electrical housings and brackets, and sporting goods. In January 2019, Shanghai Construction Group opened its first 3D printed pedestrian bridge made of acrylonitrile styrene acrylate composite materials in Shanghai. The use of additive manufacturing in the production of complex geometries to produce prototypes for various industries will drive the global acrylonitrile styrene acrylate market during the forecast period.
“Acrylonitrile styrene acrylate exhibits better performance and efficiency than other styrene copolymers and is thus used in various end-user industries. It also has high surface quality, better impact strength, and UV resistance, making it suitable for various exterior applications such as window profiling and siding. Therefore, due to such varied benefits, the market for acrylonitrile styrene acrylate is expected to grow significantly during the forecast period,” says a senior analyst at Technavio.
Global acrylonitrile styrene acrylate market: Segmentation analysis
This market research report segments the global acrylonitrile styrene acrylate market by application (automotive, consumer electronics, construction, and others) and geographical regions (APAC, North America, Europe, South America, and MEA).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA, respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth. This is due to the increasing growth of infrastructure and residential projects in the region.
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Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
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- Market positioning of vendors
- Competitive scenario
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