Latest TMR Report Explores Impact of COVID-19 Outbreak on Styrenic Polymers Market
The global Styrenic Polymers Market for Medical Applications was valued at US$ 3,028.2 Mn in 2018 and is anticipated to expand at a CAGR of 6.6% during the forecast periodUsed in a number of surgical instruments, connector tubes, portable medical devices, liquid containers, and bags, styrenic polymers and copolymers are seeing a rapid increase in demand for their superior properties such as high abrasion resistance, and dimensional stability. Besides, these have better processing timelines that other plastics. But, there are also other factors associated with these polymers that are not directly associated with the polymer properties but nonetheless, add to growing popularity. These include low cost and versatility in design.
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- Additionally, it is also worth noting than in some countries use of PVC (poly vinyl chloride) is now banned or at least restricted, leading to a higher demand for styrenic polymers
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Key Drivers of Global Styrenic Polymers Market for Medical Applications
- Polyvinyl chloride (PVC) is a highly popular thermoplastic that is used in medical applications across the world. Usage of PVC has been a growing concern over the last decade, as it contains phthalates, which is hazardous to the environment. Demand for thermoplastic elastomers has increased in almost every end-use industry (including medical and healthcare) in the quest for environment friendly alternatives for PVC.
- PVC is utilized in the medical and healthcare industries to manufacture devices for the storage of IV fluids, dialysis solutions, blood bags, tubing, and connectors. This is due to PVC’s clarity and its ability to withstand temperatures ranging from as low as -40°C to as high as 120°C. However, the increasing impact of PVC on the environment through release of dioxins is changing its market dynamics.
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Consolidated Nature of Global Styrenic Polymers Market for Medical Applications
- The vendor landscape of the global styrenic polymers market for medical applications is consolidated, credit the few players considered prominent in the market landscape.
- One of the most significant players in the market landscape include INEOS STYROLUTION Group GmbH. Other prominent names include SABIC, TSRC Corporation, Trinseo LLC, Chevron Phillips Chemical Company, Chi Mei Corporation, Kraton Corporation, and LG Chem Ltd.
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