Advancements in Healthcare Sector in Emerging Economies in Asia Pacific to Drive Global Styrenic Polymers Market
According to a recent market research report published by Transparency Market Research, the global styrenic polymers market is projected to expand at a CAGR of 7.50% during the period between 2014 and 2020. The report, titled “Styrenic Polymers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”, forecasts the global styrenic polymers market to reach a valuation of US$3.3 bn by 2020. The overall market was worth US$2.1 bn in 2013. In terms of volume, the market stood at 806.7 mn kg in 2013.
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The report points out that replacement of PVC materials has driven the demand for styrenic polymers in medical applications. The paradigm shift from metallic devices to polymer devices has further propelled the market for medical polymers, including styrenic polymers. However, the global styrenic polymers market will be negatively affected by the high price of styrenic polymers compared to other commodity thermoplastics. The report states that the global styrenic polymers market has a huge opportunity to grow with the rising geriatric population and advancements in medical technology. The market’s prospects look promising across the medical and healthcare sector in emerging economies.
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On the basis of product type, the report segments the global styrenic polymers market into polystyrene, styrene acrylonitrile (SAN), acrylonitrile butadiene styrene (ABS), methyl methacrylate butadiene styrene (MBS), styrene methyl methacrylate (SMMA), methyl methacrylate acrylonitrile butadiene styrene (MABS), styrene butadiene styrene (SBS), styrene ethylene butylene styrene (SEBS), and others including ASA, SIBS, and UPR. Polystyrene accounts for the largest share in the global styrenic polymers market for medical applications owing to its widespread availability as a commodity thermoplastic. In 2013, polystyrene was closely followed by ABS as the second largest product segment in the global styrenic polymers market. Other styrenic block copolymers such as SBS and SEBS are used to manufacture medical device components and products such as bags and tubes.
The report studies the global styrenic polymers market across four key regions: North America, Europe, Asia Pacific, and Rest of the World. In 2013, North America emerged as the largest market for styrenic polymers and accounted for a 39.9% share in the overall market. However, during the forecast period, the report projects Asia Pacific to exhibit the fastest growth in the overall market. The emerging economies in Asia Pacific will drive the demand for styrenic polymers due to the development in the healthcare sector and growing geriatric population in these countries.
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The report profiles some of the key players in the global styrenic polymers market such as Chi Mei Corporation, Kraton Polymers LLC, Styron LLC, Americas Styrenics LLC, Styrolution Group GmbH, Saudi Basic Industries Corporation, Chevron Philips Chemical Company LLC, Nova Chemicals Corporation, LG Chem Ltd., Bayer Material Science AG, and INEOS ABS (USA) Corporation. The report offers insightful information about the key players, including their financial overview, business strategies, and recent developments.
Styrenic Polymers Market for Medical Applications is segmented into the following categories:
Styrenic Polymers Market for Medical Applications, by Product Types
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