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The Acrylonitrile Styrene Acrylate (ASA) market is one of the important factors influenced by various market dynamics. Among them is the boom in the demand for ASA in the construction industry. Because of its unique ability to withstand weather extremes and maintain color fastness, it is often used for exterior applications like roofing, siding, and windows. It has been estimated that the Global Acrylonitrile Styrene Acrylate (ASA) Market will reach USD 1,050.6 Million by 2025 with a CAGR of 6.1%. The automotive sector has also registered its presence as another booming sector for the ASA industry. The automotive sector uses ASA to design external parts so as to make them look better and last longer. In addition, these materials do not fade despite harsh climatic conditions, thereby making them highly attractive to automakers.
Growth in environmentally friendly materials, along with sustainability, influence the Acrylonitrile Styrene Acrylate (ASA) market as well as consumer preferences. Hence, manufacturers have opted to develop bio-based and recyclable ASA products since there is now more emphasis on sustainability issues and the use of eco-friendly materials such as plastic bags being used globally or ocean dumping. This implies that how the ASA market looks depends upon global economic conditions & trade policies. Any change in global economic scenarios may directly impact demand for ASA through the construction & automotive industries, which are most likely direct victims of this factor. Raw material availability can be constrained through trade policies and geopolitics, thus affecting the overall cost of production for ASA on a large scale. The way ASA is manufactured has been driven by technological improvements over the years. Technological advancements are geared towards better efficiency in manufacturing processes for ASAs while reducing production costs at large.
Mergers and acquisitions alongside strategic partnerships have shaped competitive dynamics within this sector, such as consolidation mergers & acquisitions, among other strategies companies employ when they want to improve their position either in terms of market share or profits. There is also a tendency for companies in the same industry to vie for dominance through mergers, purchases, and even alliances. In today's business environment, different firms have come up with techniques that enable them to remain at the top of their competitors. Lastly, growth in the construction and automotive industries, environmental factors, economic conditions, technological advances, competition dynamics, etc., affect the ASA market, among other things. However, these companies must be adaptive so as to take advantage of emerging opportunities while mitigating risks.
Acrylonitrile Styrene Acrylate Market Highlights:
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. Â
Global Acrylonitrile Styrene Acrylate (ASA) Market Share, by Manufacturing Process 2018 (%) Â 
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
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