Infinium Global Research and Consulting Solutions

Global MS Resin (SMMA) Market is expected to grow at a CAGR of 4.10% over the Forecast Period of 2029– 2025

Infograph - Global MS Resin

By Infinium Global Research Aug, 2020

The Global MS Resin (SMMA) Market is expected to grow at a CAGR of 4.10% & 3.40% between 2019 and 2025 in terms of value and volume. The packaged food industry is one of the fastest-growing industries. In the food and beverage industry, packaging plays an important role in the preservation and safekeeping of food and beverage products. MS resin is an important substance used in the manufacturing of rigid containers. This creates a surge in the use of MS resin in the food and beverage industry. The high demand for tor packaging products, such as containers, from the food and beverage industry, has increased the adoption of MS resin. In addition, it is widely used to manufacture domestic products such as containers, reusable drinkware, kitchen appliances, tableware, personal hygiene product packaging, office supplies and toys due to its excellent transparency, optical properties, low hygroscopicity, good weather resistance, ease of processing, and low residual stress for molded products. Therefore, the increasing demand for house appliances industries stimulates the demand of the MS Resin (SMMA) market. MS resin-based food containers have properties such as resistance to humidity, heat, and gas. It offers durability, high tensile strength, and chemical resistance. Furthermore, MS resin has a wide range of applications in the automotive industry including care and heavy vehicle windows, windshields, light accessories, sunroofs, and interior and exterior trims. The expansion of the transport and automotive industries boosts the growth of the MS Resin (SMMA) market. Additionally, the growing adoption of MS resin as an alternative for Acrylic is another factor driving the growth of the market. Also, as compared to that of Acrylic, the proportion of MS Resin is lower, and also inexpensive. On the other side, increasing competition from substitutes such as PMMA, and polycarbonate and volatility in the prices of raw materials hamper the growth of the MS Resin (SMMA) market. Moreover, increasing investment in R&D is stimulating the development of BPA-free MS resin in and are creating several opportunities for the growth of the MS Resin (SMMA) market.

Geographically, the global MS Resin (SMMA) market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. Asia Pacific holds the largest share in the global MS Resin (SMMA) market and is expected to continue its dominance over the forecast period. The presence of major MS resin manufacturers in Asia Pacific and growing industrialization in Asian countries such as China, India, and South Korea stimulates the growth of the MS Resin (SMMA) market in the Asia-Pacific region. In addition, the expanding automotive industry in the Asia-Pacific region contributes to the growth of the Asia-Pacific MS Resin (SMMA) market.

© 2022. Infinium Global Research LLP. All Rights Reserved.