Styrene Maleic Anhydride (SMA) Copolymer Market Size [2031]
Styrene Maleic Anhydride (SMA) Copolymer Market Size [2031]
Segments - Styrene Maleic Anhydride (SMA) Copolymer Market by Type (R-SMA and A-SMA), Application (Compatibilizer, Automobile Instruments, Building Materials, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :MC-5978
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Report Description
Styrene Maleic Anhydride (SMA) Copolymer Market Outlook 2031
The global styrene maleic anhydride (SMA) copolymer market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of XX% during 2023–2031. The market is driven by the increasing use of this material in various industries.
Surge in the use of styrene maleic anhydride (SMA) copolymer in manufacturing high-precision interior parts of various instruments and automobiles is anticipated to propel the market during the assessment period. The market is likely to expand in the years to come due to the growth of the automobile industry, rise in the need for automotive vehicles, and the increase in population.
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As per a market survey published in August 2023, around 66.7 million automotive vehicles were sold in 2021. Although the market faced a significant decline during the pandemic, it is now growing at a steady pace and is anticipated to continue doing so during the forecast period.
The copolymerization of maleic anhydride and styrene makes SMA a highly versatile polymer compound that is resistant to heat and chemicals and is therefore extensively used in making various parts including small appliances, automobile parts, construction, and food-service trays, among others. With the expansion of these industries over time, the market is anticipated to grow substantially during the forecast period.
The COVID-19 pandemic hindered the market due to the lockdown restrictions imposed by the government all around the world. This completely disturbed the supply chain network due to the restrained import-export activities. A disparity occurred in the supply and demand of several end-use products that utilize this copolymer, thereby leading to the market slowdown.
Styrene Maleic Anhydride (SMA) Copolymer Market Dynamics
Major Drivers
Increasing demand in the construction and automobile industry is expected to drive the market during the projection period. The SMA copolymer is extensively used in the production of adhesives, coatings, and other plastics that have a high demand in the automobile as well as the construction industry.
This material is employed as a dispersant for inorganic & organic pigments & fillers, and superplasticizers in concrete owing to its reduced viscosity and superior dispersion stability. The expansion of these industries is projected to fuel the market during the assessment period.
Existing Restraints
High cost of raw materials is likely to hamper the market during the forecast period. The expensive cost of preparing this polymer and frequent fluctuations in the cost of raw materials limit its accessibility for low- to mid-scale industries. This can lead to a decline in the adoption of this material, thereby restraining the market.
Emerging Opportunities
Expansion of the electronics industry is anticipated to provide substantial growth opportunities for the market. The coatings on electronic circuits require durable material that is not prone to quick wear & tear and can bear a certain amount of heat.
Since SMA copolymer is a rigid, chemical-resistant, and heat-resistant plastic, this makes it an ideal fit for coatings and other purposes in the electronics industry. With the rapid expansion of the consumer industry, the market is anticipated to have lucrative prospects in the coming years.
Scope of the Styrene Maleic Anhydride (SMA) Copolymer Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Styrene Maleic Anhydride (SMA) Copolymer Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Type (R-SMA and A-SMA), Application (Compatibilizer, Automobile Instruments, Building Materials, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
INEOS; Hangzhou KAIXIN technology limited company; Cray Valley; China Petroleum & Chemical Corporation; China Good Quality Nitrate Salts Supplier; Baoding Lucky Chemical Co., LTD.; and Aurorium. |
Styrene Maleic Anhydride (SMA) Copolymer Market Segment Insights
Type Segment Analysis
Based on type, the styrene maleic anhydride copolymer market is divided into R-SMA and A-SMA. The A-SMA segment is projected to hold the major share of the market during the projection period due to its versatile applications in various industries.
This type is particularly used in making adhesives, coatings, and composites for a multitude of purposes as it offers excellent chemical resistance and adhesion properties. In addition, it is used as a compatibilizer in different copolymers and amorphous thermoplastics to enhance the overall surface polarity, thermal performance, and miscibility with other resins in alloys and blends. These factors are anticipated to propel this segment during the forecast period.
Application Segment Analysis
On the basis of application, the global market is segregated into compatibilizers, automobile instruments, building materials, and others. The automobile instruments segment is projected to register a high CAGR during the forecast period as SMA is an effective purging compound. Its inherent polarity makes it ideal for molding or compounding as it helps ensure the cleanliness of equipment.
In addition, the automotive industry uses this copolymer for air ducts, instrument-panel (IP) carriers, and other precision interior parts. The increase in the manufacture of automotive vehicles is projected to boost the segment in the coming period.
The building materials segment is projected to witness a massive adoption of SMA in the near future. Factors such as the increase in population and rise in per capita income have led to a high demand for commercial and residential real estate properties. This is propelling the construction industry, and as it extensively uses the SMA copolymer for various construction purposes, the market is likely to have substantial growth in the coming years.
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As per a survey published in August 2023, the overall value of construction for non-residential purposes in the US is estimated to reach approximately USD 646 billion by 2027. This includes construction for lodging, commercial buildings, offices, education, and health care.
Regional Outlook
In terms of region, the global styrene maleic anhydride copolymer market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period owing to the rapid industrial expansion in this region. Factors such as the surge in population and rise in disposable income have led to a high demand for automotive vehicles and real estate properties. Countries such as India and China are pioneering in this sector. This is expected to fuel the market in this region in the projection period.
The market in North America is expected to grow during the assessment period due to the advanced industrial infrastructure and well-established supply chain in this region. In addition, this region has a strong presence of market players which is anticipated to further propel the market in the coming years.
Segments
The styrene maleic anhydride (SMA) copolymer market has been segmented on the basis of
Type
- R-SMA
- A-SMA
Application
- Compatibilizer
- Automobile Instruments
- Building Materials
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- INEOS
- Hangzhou KAIXIN technology limited company
- Cray Valley
- China Petroleum & Chemical Corporation
- China Good Quality Nitrate Salts Supplier
- Baoding Lucky Chemical Co., LTD.
- Aurorium
Competitive Landscape
Key players competing in the global styrene maleic anhydride copolymer market are INEOS; Hangzhou KAIXIN technology limited company; Cray Valley; China Petroleum & Chemical Corporation; China Good Quality Nitrate Salts Supplier; Baoding Lucky Chemical Co., LTD.; and Aurorium.
These key players implement several strategies including mergers, product launches, partnerships, collaboration, acquisitions, and production expansion to get an edge over the competitors. For instance,
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In October 2022, China Petroleum & Chemical Corporation, one of the prominent market players, successfully manufactured the primary batch of large tow carbon fiber at its base of production in Shanghai, China. The company has become fourth in the world and first in the whole country to own this technology.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Styrene Maleic Anhydride (SMA) Copolymer Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Styrene Maleic Anhydride (SMA) Copolymer Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Styrene Maleic Anhydride (SMA) Copolymer Market - Supply Chain
4.5. Global Styrene Maleic Anhydride (SMA) Copolymer Market Forecast
4.5.1. Styrene Maleic Anhydride (SMA) Copolymer Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Styrene Maleic Anhydride (SMA) Copolymer Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Styrene Maleic Anhydride (SMA) Copolymer Market Absolute $ Opportunity
5. Global Styrene Maleic Anhydride (SMA) Copolymer Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Types
5.3.1. R-SMA
5.3.2. A-SMA
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Styrene Maleic Anhydride (SMA) Copolymer Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Applications
6.3.1. Compatibilizer
6.3.2. Automobile Instruments
6.3.3. Building Materials
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Styrene Maleic Anhydride (SMA) Copolymer Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Styrene Maleic Anhydride (SMA) Copolymer Demand Share Forecast, 2019-2026
8. North America Styrene Maleic Anhydride (SMA) Copolymer Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Types
8.4.1. R-SMA
8.4.2. A-SMA
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Applications
8.7.1. Compatibilizer
8.7.2. Automobile Instruments
8.7.3. Building Materials
8.7.4. Others
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Styrene Maleic Anhydride (SMA) Copolymer Demand Share Forecast, 2019-2026
9. Latin America Styrene Maleic Anhydride (SMA) Copolymer Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Types
9.4.1. R-SMA
9.4.2. A-SMA
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Applications
9.7.1. Compatibilizer
9.7.2. Automobile Instruments
9.7.3. Building Materials
9.7.4. Others
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Styrene Maleic Anhydride (SMA) Copolymer Demand Share Forecast, 2019-2026
10. Europe Styrene Maleic Anhydride (SMA) Copolymer Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Types
10.4.1. R-SMA
10.4.2. A-SMA
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Applications
10.7.1. Compatibilizer
10.7.2. Automobile Instruments
10.7.3. Building Materials
10.7.4. Others
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Styrene Maleic Anhydride (SMA) Copolymer Demand Share Forecast, 2019-2026
11. Asia Pacific Styrene Maleic Anhydride (SMA) Copolymer Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Types
11.4.1. R-SMA
11.4.2. A-SMA
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Applications
11.7.1. Compatibilizer
11.7.2. Automobile Instruments
11.7.3. Building Materials
11.7.4. Others
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Styrene Maleic Anhydride (SMA) Copolymer Demand Share Forecast, 2019-2026
12. Middle East & Africa Styrene Maleic Anhydride (SMA) Copolymer Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Types
12.4.1. R-SMA
12.4.2. A-SMA
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Styrene Maleic Anhydride (SMA) Copolymer Market Size and Volume Forecast by Applications
12.7.1. Compatibilizer
12.7.2. Automobile Instruments
12.7.3. Building Materials
12.7.4. Others
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Styrene Maleic Anhydride (SMA) Copolymer Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Styrene Maleic Anhydride (SMA) Copolymer Market: Market Share Analysis
13.2. Styrene Maleic Anhydride (SMA) Copolymer Distributors and Customers
13.3. Styrene Maleic Anhydride (SMA) Copolymer Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. INEOS
13.4.2. Hangzhou KAIXIN technology limited company
13.4.3. Cray Valley
13.4.4. China Petroleum & Chemical Corporation
13.4.5. China Good Quality Nitrate Salts Supplier
13.4.6. Baoding Lucky Chemical Co., LTD.
13.4.7. Aurorium
Methodology
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