Styrenic polymers offer several functional and environmental advantages over other plastic families such as PVC, polypropylene, and polyethylene.
Albany, NY -- (SBWIRE) -- 03/05/2018 -- The global styrenic polymers market for medical applications is likely to witness steady growth during the assessment period 2017-2025 according to a new research report added to the repository of Market Research Reports Search Engine (MRRSE). According to the report titled "Styrenic Polymers Market for Medical Applications - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025", the global market is projected to witness steady growth during the assessment period.
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The report offers comprehensive insights on the growth of the styrenic polymers market for medical applications, and highlights the key drivers, restraints, threats, and opportunities prevalent in the market. According to the report, leading players in the market are investing in development of innovative products to boost their position. The landscape remains highly fragmented, and product innovation remains the go-to strategy for market players.
The report projects the global market to grow at a CAGR of nearly 7% during the assessment period, and reach a valuation of over US$ 4.84 billion by the end of the forecast period. The region-wise analysis on the growth of the market has been offered to readers so that lucrative and sluggish markets can be identified.
Asia Pacific is one of the leading regions for styrenic polymers that are used in medical applications. The demand for styrenic polymers in Asia Pacific remains highly concentrated in China and India, where a booming middle class is ramping up adoption of quality healthcare services. The report projects Asia Pacific to remain an important market for styrenic polymers during the assessment period.
In addition to Asia Pacific, Middle East & Africa (MEA) is another lucrative market for styrenic polymers. The growth of the market in MEA can be attributed to various factors, such as investment in healthcare facilities, focus of governments to transform Middle East into a manufacturing hub, and product innovations. Applications in surgical instruments, portable medical devices, and connector tubes will continue to foster demand for styrenic polymers during the assessment period.
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Although the outlook on styrenic polymers market for medical applications remains positive, it is highly likely that high cost of these devices will impede widespread adoption. Many countries around the globe are yet to fully cater to the healthcare needs of their populace due to budgetary constraints, and the high price of styrenic polymers is a challenging factor for adoption.
The report also profiles some of the leading players in the styrenic polymers for medical applications market. The key players in the market include Chi Mei Corporation, INEOS STYROLUTION Group GmbH, Chevron Phillips Chemical Company, TSRC Corporation, SABIC, Kraton Corporation, Trinseo LLC, and LG Chem Ltd.
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