Styrene Acrylonitrile (SAN) Market Size, Share, Growth Analysis, By Application(The cosmetic sector is expected to hold a major share of the styrene acrylonitrile market over the projected period. Due to its opaque qualities, SAN copolymer is employed as a film-forming material in a variety of personal care and cosmetics products. The copolymer has large molecules that do not penetrate the skin) - Industry Forecast 2024-2031

Segmentation Analysis:

The Styrene Acrylonitrile (SAN) Market is segmented by Application. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.

• Based on Application the market is segmented as, The cosmetic sector is expected to hold a major share of the styrene acrylonitrile market over the projected period. Due to its opaque qualities, SAN copolymer is employed as a film-forming material in a variety of personal care and cosmetics products. The copolymer has large molecules that do not penetrate the skin, making it highly desirable in cosmetic products and formulas like sunscreens and other lotions. The expanding working women population globally might fuel the use of SAN in cosmetics. According to a report by Marmara University, the female employment rate in the service sector of Turkey has reached 59.6%, while the entry of women into the labor force has increased drastically in all sectors. The Asia Pacific styrene acrylonitrile market is predicted to expand at a decent pace attributed to the growing GDP, increased urbanization, and high product demand from end-user industries. The cosmetics and beauty sector in developing nations including China, India, and Japan is witnessing expansive growth. Estimates state that in the past decade, the Chinese beauty market expanded on average by 15% yearly, reaching RMB 300 billion in 2019 and witnessing retail sales of RMB 340 billion in 2020. The presence of leading cosmetic brands and growing awareness and demand for high-quality beauty products is likely to shape the growth trajectory of the regional styrene acrylonitrile market.