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Acrylonitrile Styrene Acrylate Market Share

ID: MRFR//6699-HCR | 140 Pages | Author: Chitranshi Jaiswal| November 2024

The Acrylonitrile Styrene Acrylate (ASA) market is one in which different firms employ different market share positioning strategies to gain dominance over it. One such popular strategy is differentiation, where companies try as much as possible to offer products that are superior or unique compared to those put out by others. Another key strategy is cost leadership, whereby a company aims to produce ASA materials at a relatively low cost without compromising its quality. The approaches used for production optimization include effective sourcing of raw materials as well as scaling of economies. By becoming a cost leader, firms can offer competitive prices to customers hence more chances of capturing larger shares. Nevertheless, there has always been a need for a balance between reduction in costs and maintaining product quality so as to achieve long-term success in this industry.
Market share positioning in the ASA industry also includes market segmentation. Companies research their markets to identify different needs and wants of customers, which enables them to make products tailored specifically for certain segments. In addition to that, market share positioning within the ASA industry is reliant on collaboration and partnerships. These can include alliances with even raw material providers, distributors, or research institutions to improve their expertise. Partnership synergies help companies prepare themselves for sustainability by increasing their share of the market.
Marketing and branding initiatives are essential as part of effective product-focused strategies aimed at achieving a good market share position. A strong brand presence creates customer loyalty and identification. This is a critical way for firms to grow using successful market share positions in the Acrylonitrile Styrene Acrylate (ASA) industry as they continue to look ahead. Research and development are required investments so as to design new, improved ASA materials ahead of competition in the marketplace. In summary, the Acrylonitrile Styrene Acrylate (ASA) industry is highly competitive, resulting in different types of market share positioning approaches used by companies. Among others, these include differentiation, cost leadership, segmentation, collaboration, branding, and innovation. Each strategy shapes the position of a company in relation to its competitors within this sector. Successful implementation of these strategies allows for easy navigation through competition, thereby enabling meeting customer preferences and capturing substantial volumes in this changing marketplace.

Acrylonitrile Styrene Acrylate Market Highlights:

Acrylonitrile Styrene Acrylate Market Trends

Acrylonitrile Styrene Acrylate Market Analysis

Acrylonitrile Styrene Acrylate Market Share

Acrylonitrile Styrene Acrylate Companies

Market Synopsis

The Global Acrylonitrile Styrene Acrylate (ASA) Market is expected to reach USD 1,050.6 Million by 2025, registering a CAGR of 6.1%. Acrylonitrile styrene acrylate (ASA) is a copolymer of styrene-acrylonitrile resin and acrylic rubber. It is a functional plastic that exhibits excellent weatherability property. ASA’s unique physical properties help to enhance the appearance of automobiles and buildings for a longer period. It is chiefly used in construction activities and manufacturing of furniture and automobile exteriors parts. In addition, its high stability, toughness, and resistance to aging & yellowing make it suitable in construction application. Hence, the high demand for ASA in the end-use industries is influencing the industrial players to increase the production capacity. For instance, in December 2018, INEOS Styrolution a Germany-based styrene supplier has announced to construct a new plant to produce 100,000 tons of ASA per year by 2021. The company has expanded the ASA production capacity to establish its market position in the global acrylonitrile styrene acrylate (ASA) market.

Acrylonitrile styrene acrylate plays a significant role in the automotive industry. The lightweight of ASA helps to increase the fuel efficiency of the automobiles. It is used in the manufacturing of side mirrors, window profiles, and radiator grille. Furthermore, technological advancements in the automotive industry have increased the demand for high-performance plastics. Acrylonitrile styrene acrylate helps to design automobile parts with complex geometries, which is difficult with the help of traditional metals. It optimizes energy efficiency and reduces CO2 emissions. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), the manufacturing of automobiles has significantly increased in India, Malaysia, Thailand, Brazil, and South Africa. Thus, the increasing manufacturing and sale of automobiles is expected to boost the demand for ASA and fuel the global market growth during the forecast period.

Key Players

Some of the prominent players in the global acrylonitrile styrene acrylate (ASA) market are BASF SE (Germany), Lauren International (US), A. Schulman (US), INEOS Styrolution Group GmbH (Germany), LANXESS (Germany), LG Chem Ltd (South Korea), SABIC (Saudi Arabia), Chi Mei Corporation (Taiwan), and Entec Polymers (US), among others.

Global Acrylonitrile Styrene Acrylate (ASA) Market Share, by Manufacturing Process 2018 (%)

Source: MRFR Analysis

Regional Analysis

The global acrylonitrile styrene acrylate (ASA) market has been studied across five key regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.

Asia-Pacific is projected to be the fastest-growing market holding a major share of the global market. The high demand for ASA thermoplastic in the automotive industry to enhance the appearance of the automobiles and add weather resistance properties is driving the regional market growth. In addition, high investment in infrastructure development has increased construction activities in countries such as India, China, Indonesia, South Korea, and Singapore, which is also projected to boosting the growth of the regional market.

The growth of the European market is driven by increasing application of ASA in the automotive industry, the presence of a large number of automobile manufacturers, and the growing use of lightweight polymers. North America is likely to witness steady growth owing to the increasing application of ASA in construction activities to enhance the weather resistance properties. The increasing number of residential projects in the US is expected to drive the demand for ASA in the regional market during the forecast period.

The Middle East & African and Latin American markets are projected to record healthy CAGRs owing to rise in the number of infrastructure projects in the regions.

Market Segmentation

The global acrylonitrile styrene acrylate (ASA) market has been segmented on the basis of manufacturing process, application, and region. Based on manufacturing process, the global acrylonitrile styrene acrylate (ASA) market has been segregated into extrusion, coextrusion, injection molding, and others. The extrusion segment is expected to register a healthy CAGR owing to its increasing application in the automotive industry. The applications segments covered under the scope of the global market are automotive, construction, furniture, and others.

Intended Audience

Acrylonitrile styrene acrylate manufacturers

Traders and distributors of ASA

Research and development institutes

Potential investors

Raw material suppliers

Acrylonitrile Styrene Acrylate Companies

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