Styrene Acrylonitrile Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The styrene acrylonitrile market is segmented by application (automotive, consumer goods, packaging, electrical and electronics, and other applications) and geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa). The report offers market size and forecasts in terms of revenue (USD million) for all the above segments.

Styrene Acrylonitrile Market Size

 Styrene Acrylonitrile Market Summary
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Study Period 2018-2028
Base Year For Estimation 2022
CAGR > 4.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration High

Major Players

 Styrene Acrylonitrile Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Styrene Acrylonitrile Market Analysis

The styrene acrylonitrile market is projected to register a CAGR of more than 4% during the forecast period. 

The market was negatively impacted by COVID-19 in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.

  • The growing demand for electrical and electronic goods and the increasing adoption of lightweight materials in industries such as packaging, automotive, etc. are anticipated to drive the styrene-acrylonitrile market.
  • On the other hand, adopting alternate substitutes due to growing health and environmental concerns over using styrene as a raw material in product manufacturing is restraining the styrene acrylonitrile market.
  • Furthermore, the growing use of styrene acrylonitrile in 3D printing is expected to provide an opportunity for the styrene acrylonitrile market.
  • The Asia-Pacific region dominated the market around the world, with countries like China, India, and Japan being the biggest consumers.

Styrene Acrylonitrile Industry Segmentation

Styrene acrylonitrile, also known as SAN, is a copolymer plastic consisting of styrene and acrylonitrile. Styrene-acrylonitrile (SAN) are optically clear resins used in a wide range of applications such as packaging, electrical and electronic, housewares and consumer goods, medical applications, automotive, etc. The market is segmented by application and geography. By application, the market is segmented into automotive, consumer goods, packaging, electrical and electronics, and other applications. The report also covers the market size and forecasts in 15 countries across major regions. For each segment, market sizing and forecasts have been done on the basis of revenue (USD million).

By Application
Consumer Goods
Electrical and Electronics
Other Applications
By Geography
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Styrene Acrylonitrile Market Trends

Automotive Industry Accounts for Significant Share

  • The automotive sector accounts for a significant share of the styrene-acrylonitrile market owing to its lightweight characteristics that boost fuel efficiency and lower CO2 emissions.
  • Styrene-acrylonitrile is utilized in a variety of vehicle elements, including exterior pieces, instrument panels, and lighting systems.
  • In India, during FY 2021–22 (April 2021–March 2022), according to the Society of Indian Automobile Manufacturers (SIAM), the country’s automotive industry produced a total of 22,933,230 vehicles, compared to 22,655,609 units from April 2020–March 2021.
  • The use of styrene-acrylonitrile in the automotive industry is anticipated to increase further due to the rising demand for electric vehicles (EVs) and hybrid electric vehicles (HEVs).
  • According to the China Association of Automobile Manufacturing, the production of new energy vehicles in the country witnessed a year-on-year increase of 96.9 percent in December 2022. Thus, the expanding electric vehicle market is expected to increase the demand for styrene and acrylonitrile in the country.

Thus, with the growing automotive sector, the styrene-acrylonitrile market is expected to grow significantly during the forecast period.

 Styrene Acrylonitrile Market - Production of New Energy Vehicles, YoY (%) January-December, in 10,000 Unit, China, 2022

Asia-Pacific to Dominate the Market

  • During the forecast period, Asia-Pacific is expected to dominate the styrene-acrylonitrile market due to an increase in demand from countries like China and India.
  • The region is expected to witness significant growth due to the increasing demand from automotive, electronics, packaging, and other end-user industries.
  • The Chinese automotive manufacturing industry is the largest in the world. According to the China Association of Automobile Manufacturing, in 2022, China's automobile exports grew 12.3 percent from September to 337,000 units in October, a 46 percent increase over the previous year.
  • Furthermore, according to the latest data published by the Society of Indian Automobile Manufacturers, the country witnessed a significant increase in the production of passenger vehicles. For instance, the production of passenger vehicles reached 3,650,698 for the FY 2021–2022, representing an increase of 19% compared to the FY 2020–21.
  • Moreover, in Asia-Pacific, the demand for packaged food is growing, owing to lifestyle changes, the growing disposable income of people, the increasing number of working professionals, and the growing preference for fast food. Consumers prefer ready-to-consume foods because they require considerably less time for cooking, are fresh, and have attractive and sturdy packaging, supporting the demand for the market studied.
  • The Chinese packaging industry has grown at a rapid and consistent rate in recent years. According to Interpak, in China, in the foodstuff packaging category, total packaging is expected to reach 447 billion units in 2023, thereby indicating an increase in the demand for styrene acrylonitrile from the packaging industry.

The aforementioned factors, coupled with government support, are contributing to the increasing demand for the styrene-acrylonitrile market in Asia-Pacific during the forecast period.

Styrene Acrylonitrile Market - Regional Trend

Styrene Acrylonitrile Industry Overview

The styrene acrylonitrile market is consolidated in nature. Some of the major players in the market include SABIC, INEOS, China Petrochemical Corporation, TORAY INDUSTRIES, INC., and LG Chem, among others (in no particular order).

Styrene Acrylonitrile Market Leaders

  1. SABIC

  2. INEOS

  3. China Petrochemical Corporation


  5. LG Chem

*Disclaimer: Major Players sorted in no particular order

 Styrene Acrylonitrile Market Concentration

Styrene Acrylonitrile Market News

  • December 2022: LG Chem announced the launch of an acrylonitrile butadiene styrene product manufactured from plant-based raw ingredients.
  • November 2022: SK picglobal and INEOS Styrolution signed a memorandum of understanding (MOU) to provide INEOS Styrolution with renewable styrene monomer manufactured at SK picglobal's SM plant in Ulsan, South Korea. This collaboration expands INEOS Styrolution's operations in Asia to create a circular economy for polystyrene (PS) and acrylonitrile butadiene styrene (ABS).

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 The Growing Demand for Electrical and Electronic Goods

      2. 4.1.2 Increasing Adoption of Lightweight Materials In Industries Such As Packaging, Automotive, Etc.

    2. 4.2 Restraints

      1. 4.2.1 Adoption of Alternate Substitutes

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 By Application

      1. 5.1.1 Automotive

      2. 5.1.2 Consumer Goods

      3. 5.1.3 Packaging

      4. 5.1.4 Electrical and Electronics

      5. 5.1.5 Other Applications

    2. 5.2 By Geography

      1. 5.2.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.2.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.2.3 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Rest of Europe

      4. 5.2.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.2.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%) Analysis **/ Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Asahi Kasei Corporation

      2. 6.4.2 Blackwell Plastics

      3. 6.4.3 CHIMEI

      4. 6.4.4 China Petrochemical Corporation

      5. 6.4.5 Formosa Plastics Corporation

      6. 6.4.6 Hardie Polymers

      7. 6.4.7 INEOS

      8. 6.4.8 LG Chem

      9. 6.4.9 SABIC

      10. 6.4.10 TORAY INDUSTRIES, INC.

      11. 6.4.11 Trinseo

    5. *List Not Exhaustive

    1. 7.1 The Growing Use of Styrene Acrylonitrile in 3D Printing

**Subject to Availability
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Frequently Asked Questions

The Styrene Acrylonitrile Market is projected to register a CAGR of greater than 4% during the forecast period (2023-2028).

SABIC, INEOS, China Petrochemical Corporation, TORAY INDUSTRIES, INC. and LG Chem are the major companies operating in the Styrene Acrylonitrile Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the Asia-Pacific accounts for the largest market share in the Styrene Acrylonitrile Market.

Styrene Acrylonitrile Industry Report

Statistics for the 2023 Styrene Acrylonitrile market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Styrene Acrylonitrile analysis includes a market forecast outlook to and historical overview. Get a sample of this industry analysis as a free report PDF download.

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