LONDON--(BUSINESS WIRE)--Mar 19, 2020--
The acrylonitrile styrene acrylate market is expected to grow by USD 94.22 million during 2019-2023, according to the latest market research report by Technavio. Request latest free sample report of 2020-2024
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Technavio has announced its latest market research report titled Global Acrylonitrile Styrene Acrylate Market 2019-2023 (Graphic: Business Wire)
Developing countries such as China, India, Indonesia, Brazil, and Mexico will 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 further propel the demand for acrylonitrile styrene acrylate during the forecast period.
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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 research report also analyzes other significant trends and market drivers that will influence market growth over 2019-2023.
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 offers high surface quality, better impact strength, and UV resistance, making it suitable for various exterior applications such as window profiling and siding. 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.
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Acrylonitrile Styrene Acrylate Market: Segmentation Analysis
This market research report segments the acrylonitrile styrene acrylate market by application (automotive, consumer electronics, construction, and others) and geographic Landscape (APAC, Europe, MEA, North America, and South America).
APAC will offer maximum growth opportunities for companies in the acrylonitrile styrene acrylate market. The rapid growth of end-user industries such as automobile, construction, and home appliances will positively influence the growth of the acrylonitrile styrene acrylate market in the region. Initiatives from several governments in the region towards the growth of the construction industry will also lead to an increase in the demand for acrylonitrile styrene acrylate in APAC.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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SOURCE: Technavio Research
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PUB: 03/19/2020 06:10 PM/DISC: 03/19/2020 06:10 PM