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.