ASA Resin Market Size, Share, Growth, and Industry Analysis, By Type (General Grade ASA Extrusion Grade ASA, Heat Resistant Grade ASA, Extrusion Grade and Other Grade ASA), By Application (Automobile, Architectural Engineering, Household Electric Appliances Consumer Electronics and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

ASA Resin Market Report Overview

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The global ASA resin market size was USD 1029.9 million in 2021 and is projected to touch USD 1864.44 million by 2031, exhibiting a CAGR of 6.1% during the projected period.

The amorphous thermoplastic acrylic-styrene-acrylonitrile terpolymer (ASA) exhibits good UV and moisture resistance. PC/ASA resin is a polycarbonate (PC) and acrylonitrile styrene acrylate amorphous thermoplastic alloy that offers improved heat resistance and improved mechanical qualities.

Excellent toughness and stiffness, resistance to chemicals and thermal stability, exceptional resistance to weather, ageing, and yellowing, and high gloss are all characteristics of the chemical (acrylonitrile styrene acrylate) material. In addition to maintaining the primary qualities of ABS (acrylonitrile-butadiene-styrene), the chemical integrates acrylic's advantage of weather resistance to broaden the product's usability for outdoor uses. This characteristic has led to extensive use of acrylonitrile styrene acrylate in the automobile sector as well as numerous other outdoor applications.

Amorphous plastics known as acrylic-styrene-acrylonitrile (ASA) polymers exhibit mechanical qualities that are comparable to ABS resins. The chemical characteristics, however, are far less impacted by outside weathering. Acrylonitrile styrene acrylate is a thermoplastic that can be made using either a graft procedure or a proprietary, patented reaction process. The reaction method produces the chemical by copolymerizing styrene and acrylonitrile with a bonded acrylic ester elastomer (SAN). The SAN molecule chains are evenly dispersed with the finely dispersed powder and bonded to them. The acrylate ester elastomer is what gives the chemical its excellent weather ability.

COVID-19 Impact: Allocation and Lockdown Limitation to Delay Market Advancement

The global COVID-19 pandemic has been unprecedented and staggering, with ASA resin experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The pandemic led to the implementation of state-wide lockdowns in several countries, temporarily affecting the distribution network for the chemical. The global pandemic affected nations and their companies due to lockdowns, company closures, and immigration restrictions. The lockdown had a significant impact on the market's application programming interface since it momentarily halted or paused the automobile and consumer electronics industry's operations. Global demand for ASA resin was significantly impacted by restrictions due to fewer industrial activities, a more constrained revenue chain, a lower fraction of employees, and closures.

Because of its chemical resilience, ASA resin market growth is expected to increase due to rising demand from the architectural engineering and home appliance sectors.

LATEST TRENDS

"Chemical Adaptation to Stimulate Market Development"

Most traditional techniques can be used to treat ASA resin. These include injection moulding, structural foam moulding, contour and sheet conversion and coextrusion, and extrusion-blow moulding. It's possible to thermoform extruded sheets. Extruders having grooved, chilled, and temperature insulated feed portions are best for blow moulding the chemical. To lessen frictional heat, screws' flights should be a little deeper. A machine with accumulators will produce the best results. The chemical is greatly known for its adaptation qualities. Thermal and spin welding methods can be used to join the chemical components. Ultrasonic welding is achievable in specific circumstances. The chemical components can alternatively be solvent welded with cyclohexane, dichloroethylene, or 2-butanone. Without any surface preparation, acrylonitrile styrene acrylate parts easily take and maintain print and coatings. Vacuum metallizing can also be done the old-fashioned way.

ASA Resin Market Segmentation

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• By Type

Based on type; the market is divided into general grade ASA, extrusion grade ASA, heat resistant grade ASA, extrusion grade and other grade ASA

General grade ASA type is the leading part of the type segment.

• By Application

Based on the application; the market is divided into automobile, architectural engineering, household electric appliances, consumer electronics and others

Automobile is the leading part of the application segment.

DRIVING FACTORS  

"Chemical Durability to Aid Market Expansion"

Strong and durable acrylonitrile styrene acrylate chemical plastic is known for its outstanding pressure, abrasion, and UV resistance. The chemical is resistant to a variety of substances, including aromatic bottled gas, watery salt solutions, mild acids and alkalis, and various oils, as well as exceptionally high and low temperatures. When exposed to outside settings, parts made with the chemical will maintain their colour, gloss, and mechanical characteristics. They also have attractive glossy surfaces. The chemical is highly suited for numerous post-processing processes, including polishing, repainting, machining, piercing, bonding, or cutting. Acetone can be used to quickly smudge layering traces on acrylonitrile styrene acrylate components.

"Increasing Application in Automotive Sectors to Foster Industry Progress "

ASA plastic is frequently used in exterior applications such as commercial cladding, electrical housings, outdoor furniture, sporting, yard, and lawn mowers due to its resilience to damage, toxins, weather, and UV light. Due to its toughness and durability, companies in the automotive sector utilise the chemical in everything from side-view mirror housings to car exterior panels. Many product teams employ the chemical while making moulds, fittings, as well as other manufacturing aids for similar reasons.

RESTRAINING FACTORS

"Poor Tensile Strength of the Chemical to Hinder Market Advancement "

Along with its many benefits, the chemical also has some drawbacks. The tensile strength of the chemical is low. The substance withstands water, diluted acids, alkalis, gasoline, grease, mineral oils, and chlorinated hydrocarbons well, but poorly against powerful mineral acids, and volatile solvents. Also, the smoke emitted while burning the chemical is highly toxic which is harmful to the environment and living beings. Additionally, this sophisticated material requires a lot of maintenance because trained personnel are needed for the work. It is anticipated that some improvements and maintenance costs may limit industry growth.

ASA Resin Market Regional Insights

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"Increasing Consumption by Industries to Foster Market Advancement in North America"

North America has the largest percentage of ASA resin market share. An increase in consumption by various industries, such as automobile engineering, might be connected to the region's growth. The equipment is highly durable and cost-effective, making it suitable for use in a variety of household appliances. In North America, it is used in a variety of building materials, commercial cladding, electrical housings, outdoor furniture, sporting goods, and lawn and garden equipment. In the upcoming years, it is projected that the growing demand for chemicals from North America operating industries would have a greater impact on the ASA resin market.

KEY INDUSTRY PLAYERS

"Important Players in the Industry to Promote Market Expansion"

The ASA resin market growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact.

List of Market Players Profiled

• LG Chem (South Korea)
• Ineos Styrolution Group (Germany)
• SABIC (Saudi Arabia)
• Techno-UMG Co., Ltd. (Japan)
• Kumho Sunny Plastics Co., Ltd. (China)
• FORMOSA CHEMICALS & FIBRE CORPORATION (China)
• NIPPON A&L (Japan)
• LOTTE Advanced Materials (South Korea)
• CHIMEI (Taiwan)
• A. Schulman (LyondellBasell) (U.S.)
• Romira (Germany)
• SAX Polymers Industries (Switzerland)
• Run Feng Sci. & Tech (China)
• Novistachem (China)
• Qingdao Future Chemical (China)
• Chuangmei Technology (China)

REPORT COVERAGE

The ASA Resin market report profiles some important market participants and provides insight into their competitive strategies and partnerships. A two-dimensional representation of the market is presented in the thorough study. The reader may determine the manufacturer's presence within the ASA resin business by learning about their global sales, global pricing, and global production over the projected timeframe of 2021 to 2028.

The detailed examination of restraints in the paper demonstrates whether they differ from factors and offers scope for strategic planning. It is important to identify the variables that limit market growth so that new strategies can be developed to take advantage of the lucrative opportunities that exist in the rapidly growing sector. Perspectives from industry professionals have additionally been taken into account to help better understand the market.