ID: MRFR/CnM/6699-HCR | 140 Pages | Author: Chitranshi Jaiswal | May 2023
Acrylonitrile Styrene Acrylate (ASA) Market is projected to be worth USD 1243.5 million by 2030, registering a CAGR of 4.8% during the forecast period (2021 - 2030).
2021 - 2030
The Global Acrylonitrile Styrene Acrylate (ASA) Market is expected to reach USD 1,050.6 Million by 2025, registering a CAGR of 6.1%. Acrylonitrile styrene acrylate (ASA) is a copolymer of styrene-acrylonitrile resin and acrylic rubber. It is a functional plastic that exhibits excellent weatherability property. ASA’s unique physical properties help to enhance the appearance of automobiles and buildings for a longer period. It is chiefly used in construction activities and manufacturing of furniture and automobile exteriors parts. In addition, its high stability, toughness, and resistance to aging & yellowing make it suitable in construction application. Hence, the high demand for ASA in the end-use industries is influencing the industrial players to increase the production capacity. For instance, in December 2018, INEOS Styrolution a Germany-based styrene supplier has announced to construct a new plant to produce 100,000 tons of ASA per year by 2021. The company has expanded the ASA production capacity to establish its market position in the global acrylonitrile styrene acrylate (ASA) market.
Acrylonitrile styrene acrylate plays a significant role in the automotive industry. The lightweight of ASA helps to increase the fuel efficiency of the automobiles. It is used in the manufacturing of side mirrors, window profiles, and radiator grille. Furthermore, technological advancements in the automotive industry have increased the demand for high-performance plastics. Acrylonitrile styrene acrylate helps to design automobile parts with complex geometries, which is difficult with the help of traditional metals. It optimizes energy efficiency and reduces CO2 emissions. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), the manufacturing of automobiles has significantly increased in India, Malaysia, Thailand, Brazil, and South Africa. Thus, the increasing manufacturing and sale of automobiles is expected to boost the demand for ASA and fuel the global market growth during the forecast period.
Some of the prominent players in the global acrylonitrile styrene acrylate (ASA) market are BASF SE (Germany), Lauren International (US), A. Schulman (US), INEOS Styrolution Group GmbH (Germany), LANXESS (Germany), LG Chem Ltd (South Korea), SABIC (Saudi Arabia), Chi Mei Corporation (Taiwan), and Entec Polymers (US), among others.
Global Acrylonitrile Styrene Acrylate (ASA) Market Share, by Manufacturing Process 2018 (%)
Source: MRFR Analysis
The global acrylonitrile styrene acrylate (ASA) market has been studied across five key regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
Asia-Pacific is projected to be the fastest-growing market holding a major share of the global market. The high demand for ASA thermoplastic in the automotive industry to enhance the appearance of the automobiles and add weather resistance properties is driving the regional market growth. In addition, high investment in infrastructure development has increased construction activities in countries such as India, China, Indonesia, South Korea, and Singapore, which is also projected to boosting the growth of the regional market.
The growth of the European market is driven by increasing application of ASA in the automotive industry, the presence of a large number of automobile manufacturers, and the growing use of lightweight polymers. North America is likely to witness steady growth owing to the increasing application of ASA in construction activities to enhance the weather resistance properties. The increasing number of residential projects in the US is expected to drive the demand for ASA in the regional market during the forecast period.
The Middle East & African and Latin American markets are projected to record healthy CAGRs owing to rise in the number of infrastructure projects in the regions.
The global acrylonitrile styrene acrylate (ASA) market has been segmented on the basis of manufacturing process, application, and region. Based on manufacturing process, the global acrylonitrile styrene acrylate (ASA) market has been segregated into extrusion, coextrusion, injection molding, and others. The extrusion segment is expected to register a healthy CAGR owing to its increasing application in the automotive industry. The applications segments covered under the scope of the global market are automotive, construction, furniture, and others.
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Manufacturing Process, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||BASF SE (Germany), Lauren International (US), A. Schulman (US), INEOS Styrolution Group GmbH (Germany), LANXESS (Germany), LG Chem Ltd (South Korea), SABIC (Saudi Arabia), Chi Mei Corporation (Taiwan), and Entec Polymers (US), among others.|
|Key Market Opportunities||The increasing manufacturing and sale of automobiles is expected to boost the demand|
|Key Market Drivers||Technological advancements in the automotive industry have increased the demand for high-performance plastics.|
The automotive industry would trigger market growth.
The Asia Pacific is slated to be the fastest among the Acrylonitrile Styrene Acrylate (ASA) market players.
The manufacturing processes discussion includes extrusion, coextrusion, injection molding, and others.
The application segment includes furniture, construction, automotive, and others.
The Acrylonitrile Styrene Acrylate (ASA) market would grow up to USD 1,050.6 million by 2025.
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