The use of styrenic polymers as an alternative for PVC materials in medical applications is witnessing an uptick. This, coupled with the wider trend of replacing metal medical devices with devices made from medical plastics creates lucrative opportunities for medical polymers in general and styrenic polymers in particular. These factors will enable the global styrenic polymers market to achieve a strong CAGR of 7.5% from 2014-2020, says Transparency Market Research’s latest report. The report, titled ‘Styrenic Polymers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020’ further states that the global styrenic polymers market will grow from its 2013 valuation of US$ 2.08 billion to US$ 3.29 billion by 2020. The report’s findings show that in 2013, in volume terms, the global demand for styrenic polymers for medical applications was 806.7 kilo tons.
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Thanks to their physical and chemical properties that fit into the needs of an expansive range of applications - from medical devices to pharma packaging - styrenic polymers enjoy steady demand. The report on the global styrenic polymers market segments the market based on products as: Polystyrene (PS), Methyl - Methacrylate Acrylonitrile Butadiene Styrene (MABS), Styrene Acrylonitrile (SAN), Acrylonitrile Butadiene Styrene (ABS), Styrene Methyl - Methacrylate (SMMA), Methyl - Methacrylate Butadiene Styrene (MBS), Styrene Ethylene Butylene Styrene (SEBS), Styrene Butadiene Styrene (SBS), and Others (UPR, SIBS, and ASA).
North America accounted for the largest market share (39.9%) of styrenic polymers for medical applications in 2013. The styrenic polymers market for medical applications in North America was followed by Asia Pacific and Europe in 2013. Asia Pacific is likely to record the fastest growth in the global market for medical styrenics during the forecast period. Rapid increase in the geriatric population across the world coupled with constant improvement and innovation in the medical industry is projected to provide ample opportunity for the growth of styrenic polymers market for medical applications.
The global styrenic polymers market for medical applications is moderately concentrated in nature. Major companies operating in the market include Styrolution Group GmbH, Saudi Basic Industries Corporation, Chi Mei Corporation, LG Chem Ltd. and Kraton Polymers.
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