Medical Styrenic Polymer Market- Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The Medical Styrenic Polymers Market is anticipated to progress at a CAGR of 5.7% during the forecast period.
Medical Styrenic Polymer Market Overview:
Polyvinyl chloride (PVC) is one of the most commonly used thermoplastics in the medical industry. Moreover, another factor driving the medical styrenic polymer market is the sharp shift from traditionally used metal devices to polymer-based medical devices due to its wide-ranging advantages over metal devices. Polymer-based drugs are very popular in medical applications, mainly due to their design versatility and ease of handling. Lightweight, cost-effective, and with better aesthetics. This shift in preference is expected to positively impact the overall market size during the forecast period. Products in the global styrenic polymers market are widely used in various end-use verticals such as automotive, consumer goods, packaging, and construction, among others. Rapid growth in the automotive industry over the past decade, especially in emerging economies such as India, has boosted the demand in the global styrenic polymers market. Moreover, rising demand for lightweight materials in consumer goods end-use industries is also expected to favor the expansion of the global styrenic polymers market over the next few years. On the other hand, the high cost of styrenic polymers compared to its alternatives such as polyethylene and PVC may restrain the growth of the global styrenic polymers market in the coming years.
Medical Styrenic Polymer market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Medical Styrenic Polymer market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we considered the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- In June 2019, BASF publicly shook hands with NGK and signed a sales agreement to expand its product portfolio.
- In July 2020, Chevron and Algonquin entered into an agreement to develop new projects that are expected to become an asset in Chevron's global portfolio.
- In November 2020, SABIC and Vopak Holding Terminals BV entered into a partnership with Jubail and Yanbu Industrial Cities Co. (JYIC). According to the agreement, the strategic integration among the three parties is expected to expand the scope of cooperation between local and international organizations.
Major Segments Covered in the Global Medical Styrenic Polymer Market:
Market Key Players:
BASF, LG Chem, Evonik Industries, Covestro AG, Styrolution Group, Americas Styrenics, Saudi Basic Industries Corporation, Styron, And Others.
Medical Styrenic Polymer Market by Types:
- Acrylonitrile Butadiene Styrene (ABS)
- Styrene Acrylonitrile (SAN)
- Methyl-Methacrylate Butadiene Styrene (MBS)
- Methyl-Methacrylate Acrylonitrile Butadiene Styrene (MABS)
- Styrene Methylâ€“Methacrylate (SMMA)
- Styrene Butadiene
Medical Styrenic Polymer Market by Applications:
- Medical Packaging
- Medical Containers
- Medical Instruments
- Solution Bags
- Medical Fabrics
Medical Styrenic Polymer Market by Regions:
The report estimates revenue growth at the worldwide, regional, and country levels and delivers an analysis of the recent industry trends in each sub-segment from 2017 to 2030. North America accounted for the largest share of over 38% of the total market size in 2019. This can be attributed to the growing healthcare spending in North America. Moreover, the presence of stringent healthcare standards and regulations has led to the replacement of TPEs with traditional metal devices due to their ease of processing and compliance with environmental regulations. The North American market follows the European market and will show a similar growth trend throughout 2020-2026
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
Styrene polymers are widely used in containers, IV bags, packaging, fabrics and other applications such as tubing, multi-flow devices, etc. Medical packaging constitutes a major segment, accounting for approximately 20% of the total medical styrenic polymers in 2019 Medical packaging includes packaging for pharmaceutical capsules, tablets, liquids, ointments, powders, and creams, Materials made of SBS, MBS, SEBS, etc. are used for outer packaging of medical devices. These growing applications of styrenic polymers The application in medical devices will positively impact the market share of medical styrenic polymers throughout the forecast period. However, the high price of styrene polymers is expected to be the major factor restraining the overall market during the assessment period.
Report Scope of Global Medical Styrenic Polymer Market:
Points Covered in the Report
- The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
- The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
- Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
- The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Frequently Asked Questions-
What is the CAGR of the Medical Styrenic Polymer market?
The Medical Styrenic Polymer Market is growing at a CAGR of 5.7% During the Forecast Period.
What are the key types and applications of the Medical Styrenic Polymer market?
- Polystyrene, Acrylonitrile Butadiene Styrene (ABS)ABS], Styrene Acrylonitrile (SAN)[SAN], Methyl-Methacrylate Butadiene Styrene (MBS)[MBS], Methyl-Methacrylate Acrylonitrile Butadiene Styrene (MABS), Styrene Methylâ€“Methacrylate (SMMA), Styrene Butadiene
- Medical Packaging, Medical Containers, Medical Instruments, Solution Bags, Medical Fabrics
Who are the key players in Medical Styrenic Polymer market?
BASF, LG Chem, Evonik Industries, Covestro AG, Styrolution Group, Americas Styrenics, Saudi Basic Industries Corporation, Styron, And others.
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Note – In order to provide a more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.