Medical Styrenic Polymers Industry Shifting focus from Metallic devices to Polymer devices, Report b
Medical Styrenic Polymer Market polymer can be easily processed and is widely used in manufacturing light weight and advanced medical devices. Conventional medical devices that are used in a majority of hospitals are made of metals, glass, and ceramics. However, these days, they are being replaced by polymers due to the several advantages they offer over their counterparts. Growing applications of this polymer in the development of medical devices and pharmaceutical packaging has provided a significant impetus to medical styrenic polymer industry share.
ABS (Acrylonitrile Butadiene Styrene) is considered to be one of most crucial products under the umbrella of medical styrenic polymer market, subject to its superior properties such as high heat resistance, high chemical endurance, excellent quality gloss & finish, and superior moldability. The product has observed a high rate of adoption in recent years, especially across the Asia Pacific belt, owing to which ABS-based medical styrenic polymer industry share is likely to grow at a rate of 8% over 2017-2024.
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The most common styrenic polymers used for medical device manufacturing & packaging include styrene butadiene styrene [SBS], acrylonitrile butadiene styrene [ABS], styrene methyl–methacrylate [SMMA], polystyrene, and methyl-methacrylate acrylonitrile butadiene styrene [MABS]. Amongst these, polystyrene accounted for more than 50% of the overall medical styrenic polymer industry share in 2016. The versatile properties of polystyrene make it quite useful in manufacturing various medical devices that need fairly rigid plastics, opacity, and range of color variations.
Styrene methyl-methacrylate is another product segment which is derived from the combination of styrene and polymethyl methacrylate. The ease of processing ability coupled with the crystal clarity of PMMA is set to bring forth excellent growth prospects for this product.
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ABS is among the fastest growing segments of medical styrenic polymer market as the product caters to the diverse requirements of the medical industry. Its unique properties including high-quality gloss, excellent finish, and superior resistance to heat & chemicals will generate huge growth potential for this segment. Thus, medical styrenic polymer industry share from ABS is most probable to record an annual growth rate of 8% over 2017-2024.
Asia Pacific medical styrenic polymer market is estimated to be the fastest growing regional business in terms of product acceptance, by 2024. Rising medical infrastructure and improved healthcare ethics have proliferated the utility scope of styrenic based polymer medical devices in myriad applications. A significant rise is seen in the spending capacity of consumers, which has further propelled the use of low toxicity and environment friendly materials, thereby driving the regional medical styrenic polymer industry.
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Chi Mei Corporation, Styrolution, Ineos Abs USA, Saudi Basic Industries Corporation (SABIC), Kraton Polymers LLC, Americas Styrenics LLC, and Chevron Phillips Chemical Company LLC are the key medical styrenic polymer industry participants manufacturing and supplying styrenic polymer products across the globe.
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