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Styrene Acrylic Market Segmented By application such as Coating and Paint
Styrene Acrylic is a kind of coating which is used for building and construction to provide concrete and roofing applications to improve or provide flexibility, heat sealability, salt stability, and water resistance. Chemically styrene acrylic is nothing but modified acrylic polymer to increase weathering resistance of the polymer.
Coating of styrene acrylic increases the longevity of roofs and other building materials which are at direct expose to the outer atmosphere. With the rise in global warming houses and building coated with styrene acrylic are on trend. Over the forecast period, it can be anticipated that the styrene acrylic market will increase with the rise in demand of weather proof coating.
The growth of global styrene acrylic market is driven by growing construction industry. The macroeconomic factors responsible for the growth of global styrene acrylic market is the rapid rate of urbanization, rising disposable income which results into high demand for weather proof houses and apartments. Consumers now look for living spaces which can meet their demands and require least of maintenance.
Such demand push the constructor and builders to utilize those goods and raw material s which are treated with styrene acrylic. Even automobile manufacturers are working on modified styrene acrylic to incorporate into coating of automobile outer body in order to make the vehicle less weather prone and in the process making car interior least affected by outer temperature.
Owing to its strong chemical composition, industry and industry workers manufacturing styrene acrylic are prone to myriad health issues. And since styrene acrylic is made with natural gas and crude oil. Recent price fluctuations of crude oil in the international market has deterred the profit of styrene acrylic market. Such factors can act as a restraint for styrene acrylic market growth.
|Based on application
|Based on end-user
Based on the geographies, the global styrene acrylic market is fragmented into seven key regions -- North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific except Japan, Japan, and the Middle East & Africa. Among the aforementioned regions, North America accounts for a significant share of global styrene acrylic market, owing to relatively high-value share of the region in the global construction industry.
Western Europe is followed by North America region in the global styrene acrylic market, owing to the substantial growth of automobile industry in the region. The Asia-Pacific except Japan region accounts for significantly high volume share in the global styrene acrylic market, owing to the substantial growth in the construction industry in the region. Eastern Europe and Japan also accounts for significant value share in the global styrene acrylic market over the forecast period.
The developing economy such as Middle East Africa and Latin America have been exhibiting moderate opportunity in the global styrene acrylic market, owing to the moderate growth rate in the construction industry and growing population. Overall, the outlook for the global styrene acrylic market will have a positive growth over the forecast period, owing to the increasing demand for the pharmaceuticals as an anti-counterfeiting measure.
Few players in the global styrene acrylic market include BASF, The Lubrizol Corporation, Arkema, Wacker Chemie AG, DIC Corporation, Trinseo, Momentive Performance Materials Holdings LLC, Omnova Solutions Inc., Nuplex Industries Ltd, The DOW Chemical Company.