MBS Resin Market Size, Share, Growth, and Industry Growth, By Type (Transparent MBS and Non-transparent MBS), By Application (PVC Sheet, PVC Pipe, PVC Film, and Others), Regional Insights, and Forecast From 2023 To 2031

Updated On: 04 September 2023

MBS Resin Market REPORT OVERVIEW

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The global MBS Resin market size is expected to be USD 1955.2 million in 2022 and market is projected to touch USD 3359.87 million by 2031, exhibiting a compound annual growth rate (CAGR) of 6.2% during the forecast period.

MBS resin is also known as methyl methacrylate-butadiene-styrene resin. It is a unique combination of properties such as transparency up-gradation, which impacts excellent mechanical and resistivity properties, making it a material of choice. These resin polymers are employed in the manufacturing of building, packaging, and construction products. These polymers improve the processing performance and strength of PVC (Polyvinyl Chloride) products. It is a terpolymer prepared by emulsifying grafting polymerization of methyl methacrylate (M), butadiene (B), and styrene (S) and is used in the manufacturing of various appliances due to its resistivity and mechanical properties. 

MBS resin is majorly used for the manufacturing process of non-outdoor products such as sheet pipes, bottle granular material, fittings, polyvinyl chloride film, and others. MBS is a modifying agent that helps in improving plastic properties. It is used in manufacturing semi-hard materials such as PVC and engineering plastics to improve their processability and strength. It has excellent resistivity and mechanical properties, which are anticipated to surge the MBS Resin market growth. The use of the product in the building and construction sector is forecasted to surge growth in the global market.   

COVID-19 Impact: Prohibition On Construction and Automotive Industry Halted the Growth

All the industries experienced a significant downfall when the COVID-19 pandemic. Due to repeated lockdowns and the significant economic transformation brought on by COVID-19, the growth of the chemicals and advanced material industries has been hampered. The abrupt halt impacted the selling of chemicals in products and the closure of manufacturing facilities. The primary application of the product is in the construction and automotive industry, which was prohibited during the lockdown. Thus, the market witnessed a negative impact of COVID-19 on its growth.

LATEST TRENDS

"Various Product Applications to Drive Trends in the Market"

The unique combination of the chemical properties such as resistivity, mechanical strength, and transparency enhancement surges the product adoption in various applications such as PVC sheets, PVC film, PVC pipe, and others. The MBS resin is used to enhance processability, increase surface property, and increase foaming capacity, which is forecasted to surge the MBS Resin market share. The market growth is also expected to be attributable to the increased demand for PVC, and the rising construction activities worldwide are also anticipated to drive trends in the market. 

MBS Resin Market Segmentation

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•  By Type Analysis

By type, the market is segmented into transparent MBS and non-transparent MBS. 

•  By Application Analysis

Based on application, the market is classified into PVC sheet, PVC pipe, PVC film, and others. 

DRIVING FACTORS

"Product Usage in Various Industries to Surge the Market Growth"

MBS resins are used in various applications and industries such as packaging, household appliances, consumer goods, and medical industries. Primary applications include reusable drinkware, housing covers, toys (toughened and transparent), and office accessories. This resin is also used as an impact modifier, likely to augment MBS resin market growth. Commercial-grade customization as per the needs makes it suitable for thermoplastic, and thermoset resins, including polybutylene terephthalate, polycarbonate (PC), polyvinylchloride, and others estimated to surge growth in the market. 

"Benefits Associated with MBS Resin to Augment Product Demand"

MBS resin is used in PVC sheets, PVC pipe, PVC film, and others, which is expected to aid market growth. PVC sheets are used as a roof, are prone to cleaning chemicals, and can be easily cleaned. Additionally, these sheets are unbreakable when thrown from a height of 40 inches, proving them to be resistant. PVC pipes are safe for drinking water transportation due to their resistance to corrosion and high inertness degree. This application is anticipated to surge the market growth.

Moreover, PVC films are durable, non-conductive, and fire-resistant. These factors are forecasted to boost product adoption. Additionally, the usage of the product in packaging apparatus, medical devices, electronic devices, and others is predicted to gain traction in the market.

RESTRAINING FACTORS

"Lack of Awareness and Prohibited Use of Products to Impede Growth"

Using the chemical material requires professional experience, which is expected to limit the market growth. The awareness of the product application and its benefits is anticipated to hinder the market growth. Additionally, the prohibited use of PVC in construction is estimated to limit product adoption. Moreover, the economic downfall affected the construction and automotive industry, which is anticipated to restrain the market growth. 

MBS Resin Market REGIONAL INSIGHTS

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"Asia Pacific to Lead Owing to Largest PVC Production Capacity"

Asia Pacific is projected to hold a significant part of the MBS Resin market share (i.e., 53% of the total market share) owing to the large capacity of PVC production. The presence of emerging countries resulting in the rising population and escalating disposable income is estimated to surge rapid demand for PVC in the region, likely aiding the regional growth. Additionally, the low cost of polymer, PVC products’ excellent wear resistance, high tensile strength, and their applications in the automotive, packaging, and construction industry is estimated to surge growth in the region.

Europe is forecasted to show significant growth backed by the escalated consumption of products in the automotive and construction industries for manufacturing the PVC sheet, PVC pipe, PVC film, and others. The use of the product in automobiles due to its various applications in the automotive industry is expected to surge the regional growth.

North America is projected to show sizeable growth owing to the rising demand for cosmetic industries and packaged food & beverage products. Rising awareness about the material’s application is anticipated to drive regional growth. 

KEY INDUSTRY PLAYERS

"Competitors to Launch New Products to Gain a Competitive Edge"

The market is fragmented into various companies, including small-sized, medium-sized, and large-sized companies. Prominent players are adopting organic and inorganic strategies to grow consistently in the global market. The key competitors focus on gaining collaborations and acquisitions to grow in the global market. Additionally, competitors are striving to achieve local customers to gain customers in the global market further. Companies focus on delivering the product in less time to gain a competitive advantage. Moreover, the companies are focusing on launching advanced products to gain a competitive advantage.  Key competitors emphasize entering into long-term relationships with the suppliers and industries.

List of Market Players Profiled

• Dow (U.S.)
• Kaneka (Japan)
• LG (South Korea)
• Mitsubishi Chemical (Japan)
• Arkema (France)
• Denka (Japan)
• Formosa Plastic Group (Taiwan)
• Ineos Styrolution (Germany)
• Wanda Chemical (Kenya)
• Ruifeng Chemical (China)
• Yuefeng Group (China)
• Weihai Jinhong Group (China)
• Shangdong Dingding Chemical (China)
• Shandow (France)
• Donglin (China)

INDUSTRY DEVELOPMENT

• July 2021- On its Automotive Facility Europe (AMCEU) campus, Toray launched a new technological center in Munich, Germany. The new facility will benefit Toray Resins Europe GmbH, which markets and sells high-performance compounds.

REPORT COVERAGE

The report emphasizes studying and analyzing the global market based on its segment, regions, and key competitors. The information constitutes significant factors responsible for the development of the market and surges in the Rochelle salt market growth. The report focuses on the key players and their headquarters. Regional analysis is also presented in the report to explain the contribution of various regions to the market's growth. It constitutes market trends and restraints to understand the market appropriately. This report is a comprehensive insight into the market.