Los Angeles, CA -- (SBWire) -- 10/14/2021 --The global ASA copolymers market is expected to as it used as an alternative to ABS (acrylonitrile butadiene styrene) in automotive industry due to better weather resistance qualities. QY Research has recently published a report titled "Global (United States, European Union and China) ASA Copolymers Market Research Report 2019-2025", predicting the growth opportunities that lie in the global market. According to the report, the ASA copolymers market was worth US$942.7mn during 2019 and is expected to reach US$1166.8mn by the end of 2025, registering a CAGR of 3.62% during the forecast period of 2019 to 2025.
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Better Durability to Boost Demand for ASA Copolymers
The absence of double bonds gives ASA copolymers better resistance to ultraviolet rays and weather. This also enhances its heat and chemical resistance. It is proven to be more immune to environmental stress cracking, especially when exposed to numerous cleaning agents and alcohols. Thus, it finds application in various industries such as sports equipment, home appliances, construction, automotive, and others. In addition, its properties such as color and gloss retention and antistatic properties make it an ideal choice for production of machines that are expected to undergo tough usage. It is compatible with few plastics, making it a suitable choice to be processed with various methods. It exhibits low moulding shrinkage and finds application as additives to other polymers.
It is rising in preference as it used for various industries. Its ability to be coextruded with other polymers, allows it to be welded to itself or other plastics, or be solvent welded, and can be glued with metals.
Better Weather Resistance to Boost Building and Construction Segment
The building and construction industry is utilizing ASA copolymers largely due to its properties of being resistance to weather and chemicals. It is also highly tough in nature and exhibits thermal stability. These factors will promote builders to use ASA copolymers extensively.
China to Lead Owing to its Burgeoning Automotive Industry
China is witnessing largest number of constructions in the world due to urbanization. This region also has the highest number of key players in the automotive industry, which is expected to play a pivotal role in shaping the ASA copolymers market in China.
Key players in the market are trying to compete with other players by improving ASA copolymers properties so that it finds more applications in other industries. Improving the quality of ASA copolymers in applications, improves its performance.
The key players operating in the global (United States, European Union, and China) ASA copolymers market are LG Chem, Chi Mei Corporation, Ineos Styrolution Group, SABIC, Techno-UMG Co., Ltd., KUMHO-SUNNY, Formosa Chemicals & Fibre Corporation, NIPPON A&L, LOTTE Advanced Materials, and Schulman (LyondellBasell).
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Excellent Mechanical Properties of ASA Copolymers to Boost Global Market with a CAGR of 3.62% by 2025