What is Styrene Acrylic Market Scope?
Styrene Acrylic is a type of coating used in building and construction to increase or give flexibility, heat sealability, salt stability, and water resistance in concrete and roofing applications. Chemically, styrene-acrylic is just an acrylic polymer that has been treated to boost the polymer's weathering resilience. The use of a styrene-acrylic coating extends the life of roofs and other building components that are exposed to the elements. With the growth in global warming, styrene-acrylic-coated houses and buildings are becoming increasingly popular. The construction industry is driving the expansion of the worldwide styrene acrylic market.
The Styrene Acrylic market study is being classified by Type (Silicone modified styrene acrylic, Organic fluorine modified styrene acrylic, Epoxy modified styrene acrylic, Functional monomer modified styrene acrylic and Cationic Styrene Acrylic), by Application (Coating and Paint) and major geographies with country level break-up.
The global styrene acrylic industry is diversified among geographies. Due to the slow development rate in the building industry and expanding population, developing economies such as the Middle East, Africa, and Latin America have shown considerable opportunity in the worldwide styrene acrylic market. Overall, the global styrene acrylic market is expected to increase at a favorable rate throughout the forecast period, thanks to rising demand for pharmaceuticals as anti-counterfeiting measures. Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Styrene Acrylic market throughout the predicted period.
BASF (Germany),, The Lubrizol Corporation(United States), Arkema (France), Wacker Chemie AG (Germany), DIC Corporation (Japan), Trinseo(United States), Momentive Performance Materials Holdings LLC (United States), Omnova Solutions Inc. (United States), Nuplex Industries Ltd (New Zealand) and The DOW Chemical Company (United States). are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Styrene Acrylic market by Type, Application and Region.
On the basis of geography, the market of Styrene Acrylic has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
The Frank R. Lautenberg Chemical Safety for the 21st Century Act significantly revised the Toxic Substances Control Act in 2016, including a requirement for EPA to conduct a risk evaluation of existing chemicals regulated under TSCA on a priority basis. TSCA directs EPA to focus first on chemicals listed in its 2014 Chemical Substances Work Plan, which includes styrene. EPA selected priority candidates for evaluation in 2016 and 2019 but did not select styrene, one of 53 substances listed in the Work Plan not yet under review. EPA is expected to next nominate candidates for TSCA risk evaluation in early 2022.
Influencing Market Trend
- The rising disposable income which results in high demand for weatherproof houses and apartments
- The growing awareness regarding the harmful effects of solvent-based emulsion
Market Drivers
- The growing construction industry
- The rapid rate of urbanization
Opportunities
- The growth in the personal care & cosmetic industry
- The growth in the end-user industry both in developed and developing economics
Restraints
- Owing to its strong chemical composition, industry and industry workers manufacturing styrene-acrylic are prone to myriad health issues
Challenges
- Owing to its strong chemical composition, industry and industry workers manufacturing styrene-acrylic are prone to myriad health issues
Key Target Audience
Styrene Acrylic Manufacturer, Distributor, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
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