MS Resin (SMMA) Market by Type, Application, and Geography - Global Forecast and Analysis 2022-2028
Global MS resin (SMMA) Market: About this market
MS resin (SMMA) market analysis considers sales from automobile, electronics, food, toys and leisure, medical care, optics, and other applications. Our analysis also considers the sales of MS resin (SMMA) in APAC, Europe, North America, South America, and MEA. In 2018, the automobile segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing use of MS resin in automotive roof systems and interior furnishings will play a significant role in the automobile segment to maintain its market position. Also, our global MS resin (SMMA) market report looks at factors such as increasing demand for packaged food and beverages, significant growth of consumer electronics industry, and increasing demand for MS resin in automotive industry. However, growing competition from substitutes, volatility in raw material prices, and slowdown of manufacturing sector in China may hamper the growth of the MS resin (SMMA) industry over the forecast period.
Global MS resin (SMMA) Market: Overview
Increasing demand for packaged food and beverages
Packaging helps in preserving, safekeeping, and increasing the shelf life of the food and beverage product. MS resin-based food containers exhibit properties such as resistance to heat, humidity, and gas. These food containers resist puncture and exhibit high tensile strength, durability, and chemical resistance. As these food containers are lightweight, they significantly reduce the overall weight of the packaging. This demand for packaged food and beverages will lead to the expansion of the global MS resin (SMMA) market at a CAGR of almost 4% during the forecast period.
Increasing demand for solar energy
The growing focus on energy security is likely to fuel the demand for renewable energy. Renewable energy sources are increasingly being used as alternatives to conventional energy sources as they expand the energy mix and decrease the dependence on the global petroleum market. Solar energy reduces the dependency on imported crude oil for countries that have few or no petroleum reserves. Unlike conventional fuels, solar energy causes no emissions. MS resin products are widely used for manufacturing of the covering material of solar photovoltaic modules because of their sturdy durable and high clarity properties. The increasing government support and subsidies for the installation and use of solar power will support the growth of the global MS resin (SMMA) market during the forecast period.
For the detailed list of factors that will drive the global MS resin (SMMA) market during the forecast period 2019-2023, click here.
Competitive Landscape
With the presence of a few major players, the global MS resin (SMMA) market is concentrated. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of few leading MS resin (SMMA) manufacturers, that include Anhui Sinograce Chemical Co. Ltd., Chi Mei Corp., Deltech Corp., Denka Co. Ltd., INEOS Group Holdings SA, LG MMA, Resirene SA de CV, Scott Bader Co. Ltd., Supreme Petrochem Ltd.
Also, the MS resin (SMMA) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
MS resin (SMMA) market analysis considers sales from automobile, electronics, food, toys and leisure, medical care, optics, and other applications. Our analysis also considers the sales of MS resin (SMMA) in APAC, Europe, North America, South America, and MEA. In 2018, the automobile segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing use of MS resin in automotive roof systems and interior furnishings will play a significant role in the automobile segment to maintain its market position. Also, our global MS resin (SMMA) market report looks at factors such as increasing demand for packaged food and beverages, significant growth of consumer electronics industry, and increasing demand for MS resin in automotive industry. However, growing competition from substitutes, volatility in raw material prices, and slowdown of manufacturing sector in China may hamper the growth of the MS resin (SMMA) industry over the forecast period.
Global MS resin (SMMA) Market: Overview
Increasing demand for packaged food and beverages
Packaging helps in preserving, safekeeping, and increasing the shelf life of the food and beverage product. MS resin-based food containers exhibit properties such as resistance to heat, humidity, and gas. These food containers resist puncture and exhibit high tensile strength, durability, and chemical resistance. As these food containers are lightweight, they significantly reduce the overall weight of the packaging. This demand for packaged food and beverages will lead to the expansion of the global MS resin (SMMA) market at a CAGR of almost 4% during the forecast period.
Increasing demand for solar energy
The growing focus on energy security is likely to fuel the demand for renewable energy. Renewable energy sources are increasingly being used as alternatives to conventional energy sources as they expand the energy mix and decrease the dependence on the global petroleum market. Solar energy reduces the dependency on imported crude oil for countries that have few or no petroleum reserves. Unlike conventional fuels, solar energy causes no emissions. MS resin products are widely used for manufacturing of the covering material of solar photovoltaic modules because of their sturdy durable and high clarity properties. The increasing government support and subsidies for the installation and use of solar power will support the growth of the global MS resin (SMMA) market during the forecast period.
For the detailed list of factors that will drive the global MS resin (SMMA) market during the forecast period 2019-2023, click here.
Competitive Landscape
With the presence of a few major players, the global MS resin (SMMA) market is concentrated. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of few leading MS resin (SMMA) manufacturers, that include Anhui Sinograce Chemical Co. Ltd., Chi Mei Corp., Deltech Corp., Denka Co. Ltd., INEOS Group Holdings SA, LG MMA, Resirene SA de CV, Scott Bader Co. Ltd., Supreme Petrochem Ltd.
Also, the MS resin (SMMA) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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