Styrenic Polymers Market for Medical Applications is Expected to Reach US$ 3.29 Bn in 2020: Transparency Market Research

Albany, NY, June 24, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research has published a new report titled "Styrenic Polymers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020." According to the report, the styrenic polymers market for medical applications was valued at US$ 2.08 Bn in 2013 and is likely to reach US$ 3.29 Bn in 2020, expanding at a CAGR of 7.5% between 2014 and 2020. In terms of volume, the demand for styrenic polymers for medical application stood at 806.7 kilo tons in 2013.

Styrene monomer, a downstream derivative of petroleum, is the basic building block for all styrenic polymers and copolymers. Styrenic polymers are an important class of plastics that are used widely in the medical and healthcare industry in various applications ranging from the manufacture of medical devices to pharmaceutical packaging. Styrenic polymers exhibit a range of desirable physical and chemical properties. This factor drives the styrenic polymers market for medical applications.

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In terms of product types, the styrenic polymers market can be segment into polystyrene (PS), 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) and others. Polystyrene, being the only commodity thermoplastic material among styrenic polymers, accounts for the major share of the styrenic polymers market for medical applications. Styrenic block copolymers such as SEBS and SBS are widely used in the manufacture of medical device parts, bags and tubes in the medical industry. The market for styrenic polymers in medical applications is largely driven by the higher demand for plastics (as a replacement for traditional metallic devices). Polyvinyl chloride (PVC), the most popular medical polymer, has been facing regulatory issues owing to environmental concerns and product toxicity. The market for styrenic polymers has benefitted from the drive to replace PVC in medical applications.

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The market is slightly restrained by the relatively higher price of styrenic polymers compared to competitors such as polyethylene and PVC. High degree of research and innovation in the industry augurs well for the medical plastics market. This, in turn, is likely to propel the styrenic polymers market. Geriatric population has emerged as the fastest growing population segment in the world. Rise in geriatric population is expected to augment the market for medical styrenics in the near future.

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North America accounted for the largest market share (39.9%) of styrenic polymers for medical applications in 2013. Asia Pacific followed North America in terms of demand for styrenic polymers in 2013. The market for styrenic polymers in Asia Pacific is also estimated to experience the fastest growth rate during the forecast period. Key players profiled in the report include Styrolution Group GmbH, Saudi Basic Industries Corporation, Chi Mei Corporation, Chevron Phillips Chemical Company LLC, LG Chem Ltd., and Styron LLC (Trinseo S.A.).

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Styrenic Polymers Market for Medical Applications - Product Segment Analysis

  • Polystyrene (PS)
  • 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)
  • Others (Including Unsaturated Polyester Resins (UPR), Acrylonitrile Styrene Acrylate (ASA), Styrene Isoprene Butadiene Styrene (SIBS), etc.)

Other Reports Published by Transparency Market Research :

Styrenic Polymers Market for Medical Applications - Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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Source:Transparency Market Research