According to ChemAnalyst report,” India Styrene Acrylonitrile (SAN) Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Type, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”. The demand for SAN is expected to achieve a healthy CAGR of around 6.85 in the forecast period owing to the persistent hike in demand for SAN in manufacturing of electrical and electronic devices in the rapidly expanding Asian electronic sector. SAN is a copolymer produced by mass polymerization, emulsion, or suspension by utilizing 20-30% of Acrylonitrile resin and rest of Styrene. Impressive properties of SAN like tremendous heat and chemical resistance along with high rigidity makes it a highly profound material in several industries. Hence, increasing demand for SAN in the manufacturing of medical devices on potential advances being made in healthcare sector after the outbreak of Pandemic is likely to propel the demand for SAN in the coming years. The product also offers superior hygiene properties along with safety benefits. Moreover, SAN is also highly demanded for packaging applications in food and beverage industry. This demand is anticipated to propel at a prominent rate owing to the increasing stress over single-use packaging to restrain any chances for Covid-19 infection by contagion.
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As India accounts for limited production of SAN in contrast to its massive demand. In Dec 2019, All India Plastics Manufacturers Associations urged the government to restructure anti-dumping duty of major imported polymers and bring down anti-dumping duty on SAN by 5 per cent to efficiently nurture the upliftment of associated industries.
Onset of Coronavirus in final quarter of FY 20 has led to a sudden drift in demand for SAN from major-end user industries as they were compelled to suspend the production of the products on plunging demand for products as an outcome of the nationwide lockdown imposed by the government to constrain the Coronavirus spread. The demand for SAN has been negatively affected by the persistent slowdown in automotive sector initially due to the economic downturn, that was further exacerbated by outbreak of the global pandemic .The downturn in demand in automotive industry has substantially reduced the consumption of SAN, which is utilized in the molding and manufacturing of various automotive parts. However, this significant slump in demand for SAN from automotive industry has been prominently stabilized by the astonishing increment in demand for plastic packaging in food and beverages industry, making use of SAN to produce hygienic and safe plastics. This sudden shift towards single-use plastic packaging is expected to appreciably drive the demand for SAN and other polymer materials in the coming years on dilemma over the complete abatement of very till a proper vaccine in attained. The enhanced requirement for medical devices on continuous advances being done in the healthcare sector after Covid-19, has further pushed up the demand for SAN which is required for producing medical light diffusers, autoclavable devices and various other devices. Moreover, government initiative of self-reliant India with an aim of making India the manufacturing hub is anticipated to propel the demand for SAN in electrical and electronics industry as the country is keen to reduce the imports of finished goods from major importer China, thus giving domestic manufacturers a chance to fully cater to the domestic demand and consolidate heavy revenues.
According to ChemAnalyst report,” India Styrene Acrylonitrile (SAN) Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Type, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”. Major manufacturers engaged in the production of SAN in India are Bhansali Engineering Polymers and INEOS Styrolution Limited. As limited production capacity is unable to completely cater to the domestic demand, imports also play a significant role to fulfill the requirement of the India SAN Market. Other players of SAN operating in India include LG Chem, Lotte Chemical Corporation, China National Petroleum, Sabic Innovative Plastics, Toray Industries, Daicel Polymer Limited, Ningbo LG Yongxing Chemical, Formosa Plastic Group, etc. The market portrays massive opportunity for new players to emerge owing to the continuous increase in demand for SAN in comparison to its installed capacity in the country.
“ The chemical and petrochemical industry in India has faced tremendous downfall in the fourth quarter of FY 20 on sudden decline in demand for various products due to halt in production in several industries along with suspension of trade activities from international market as a ripple effect of Coronavirus outbreak. Amidst devastating fears of global recession on declining revenues from majority of industries, Polymer and Resin, Pharmaceuticals and Specialty Chemicals are among the few industries that witnessed an uptrend in their stock value as an effect on shift in demand towards hygiene and cleanliness friendly products due to lifestyle changes of people. The growing awareness over cleanliness and hygiene among people has escalated the demand for plastic packaging, thus pushing up the consumption of products like SAN, ABS, Polystyrene, and various other polymers. Similarly, the demand for SAN has also been positively influenced by the spur in demand for medical devices at the back of continuous advances being done in the healthcare industry to combat to the virus. This demand for SAN from healthcare sector is likely to grow at an incredible rate in the coming years owing to the concern over improvisation of domestic healthcare facilities to grapple present and post virus challenges in the country. Moreover, the recent government initiative of making India a manufacturing hub is anticipated to bolster the demand for SAN in its major segment electrical and electronics ,as the Indian market will enhance its manufacturing, thus cutting imports from its biggest importing country, China” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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Source : ChemAnalyst