Market Research Report
Medical Styrenic Polymers Market Size By Product, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
|Published by||Global Market Insights Inc.||Product code||951301|
|Published||Content info||204 Pages
Delivery time: 2-3 business days
|Medical Styrenic Polymers Market Size By Product, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026|
|Published: July 22, 2020||Content info: 204 Pages||
Medical Styrenic Polymers Market Size By Product (Polystyrene, Acrylonitrile Butadiene Styrene [ABS], Styrene Acrylonitrile [SAN], Methyl-Methacrylate Butadiene Styrene [MBS], Methyl-Methacrylate Acrylonitrile Butadiene Styrene [MABS], Styrene Methyl-Methacrylate [SMMA], Styrene Butadiene Styrene [SBS], Styrene Ethylene Butylene Styrene [SEBS]), By Application (Medical Packaging, Medical Containers, Medical Instruments, IV Solution Bags, Medical Fabrics), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026.
The medical styrenic polymer market is poised to witness a lucrative rate of growth over the coming timespan owing to the rising adoption of digital medical services and growing demand for medical packaging across the globe. Styrenic polymers are from a family of key plastic products that utilize styrene as a key building block.
Manufacturers typically use styrene-based resins to manufacture an array of everyday goods, including hospital supplies. Given the rising focus towards the development of healthcare infrastructure and the COVID-19 outbreak, the medical styrenic polymer industry is expected to register remunerative growth.
Medical styrenic polymer market is bifurcated in terms of product, application, and regional landscape.
Based on product, medical styrenic polymer market is classified into SEBS, SBS, SMMA, MABS, MBS, SAN, ABS, Polystyrene, and others. The others segment comprises of UPR, SIBS,ASA etc. Polystyrene provides numerous desirable attributes like good resistance to ethylene oxide sterilization process, exceptional flow consistency and color stability, and UV light sterilization process. Styrene acrylonitrile resin held a market share of around 5% in 2019 and shall grow at a CAGR of over 6% over the estimated time period.
MBS held an industry share of over 1% in 2019 and is anticipated to grow at a CAGR of over 6% over the forthcoming time period. Methylmethacrylate Acrylonitrile Butadiene Styrene (MABS) is a transparent styrenic polymer and have good mechanical properties and is primarily applicable in medical containers and components.
Styrene Methyl Methacrylate, also known as SMMA are utilized in medical industry owing to its exceptional properties such as good mechanical properties along with high resistance to shock and excellent aesthetic values.
SBS held a 4.5% market share in 2019 and is likely to exhibit similar trends over the assessment period. The other segment held a industry share of over 4.3% in terms of revenue in 2019 and will exhibit similar trends over the forthcoming time period.
With respect to application, the medical styrenic polymer market is categorized into medical fabrics, IV solution bags, medical instruments, medical containers, medical packaging, and others. The medical packaging held more than 22% market share and is projected to grow at a CAGR of 6.8% over the forecast time period. The medical container segment had a market share of over 19% and is expected to grow at a CAGR of over 7% over the forthcoming time period.
IV solution bags are made up of styrene-based polymers which form monolayer films, single film layers in a multi-layer bag wall to manufacture medical bags which is intended to hold IV fluids (blood, medications or nutrients). Medical fabrics segment is estimated to grow at a CAGR of over 4% over the estimated time period. The other application segment for medical styrenic polymers includes hemodialyzer housing, multi flow devices, medical tubing, valves, and IV connectors among others.
From a regional frame of reference, North America is projected to grow at a CAGR of over 5.3% over the forecast timeframe. Europe market held an overall share of more than 25% and is likely to grow at a CAGR of 5.1% over the forthcoming time period.
The Latin America market held a 2% market share in 2019 and is expected grow at a CAGR of 5.6% over the assessment period. The Middle East & Africa market will showcase a steady growth owing to the evolving health insurance policies and rising propensity among population to consume digital medical services.
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