Market Overview
In terms of value, the global 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). Acrylonitrile styrene acrylate (ASA) is produced by copolymerization reaction between styrene and acrylonitrile. It is tough and exhibits properties such as thermal stability, chemical resistance, and rigidity. Acrylonitrile styrene acrylate is significantly used in the construction industry. The increasing spending on renovation activities is driving market growth. Additionally, increasing investments in infrastructure projects such as transportation, water management, and energy sectors are favoring the growth of the acrylonitrile styrene acrylate market in the region. In the US, revenue from the construction industry crossed USD 1 trillion in 2021–2030 and is expected to reach USD 1.7 trillion by 2030.
Moreover, the exterior parts of automobiles require high-performance materials such as ASA to protect them from harsh weather conditions and aging. The application of ASA in the manufacturing of automobile components has increased owing to its unique properties and increasing preference for lightweight vehicles.
Market Segmentation
The global acrylonitrile styrene acrylate (ASA) market has been segmented on the basis of manufacturing process, application, and region. By manufacturing process, the global acrylonitrile styrene acrylate (ASA) market has been divided into extrusion, coextrusion, injection molding, and others. The extrusion segment held significant market share in 2021 and is estimated to be dominant in the next five years owing to the growing use in the construction industry. The global market has been segmented based on application into automotive, construction, furniture, and others. The high demand for ASA in the construction industry is expected to fuel the growth of the segment during the review period.
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Competitive Analysis
The prominent players in the global acrylonitrile styrene acrylate (ASA) market include Lauren International (US), BASF SE (Germany), A. Schulman (US), LANXESS (Germany), INEOS Styrolution Group GmbH (Germany), LG Chem Ltd (South Korea), Chi Mei Corporation (Taiwan), Entec Polymers (US), and SABIC (Saudi Arabia).
Regional Analysis
The Asia-Pacific acrylonitrile styrene acrylate melting point is projected to register a healthy CAGR during the forecast period due to high public sector investments in the construction industry. The growing urbanization in the Philippines, India, Indonesia, and China has increased the spending in infrastructure development. The US is expected to be the leading market in North America; it registered a CAGR of 5.2% in 2018. The South and West regions are projected to register a CAGRs of 6% and 5%, respectively.
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