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Global Acrylonitrile Butadiene Styrene (abs) Market
Global acrylonitrile butadiene styrene market was value US$ 25.3 Bn in 2017, and is expected to reach US$ 38.24 Bn by 2026, at a CAGR of 5.3 % during forecast period.
Global acrylonitrile butadiene styrene market
Acrylonitrile butadiene styrene is derived from acrylonitrile, butadiene, and styrene, which result into the formation of shiny, glossy yet tough, and durable plastic called acrylonitrile butadiene styrene. It is one of the finest polymers in styrenic family due to some important characteristic features such as greater hardness, toughness, good chemical resistance, and better stability.
Acrylonitrile butadiene styrene combines the strength and rigidity of acrylonitrile and styrene polymers with the toughness of polybutadiene rubber. While the cost of producing acrylonitrile butadiene styrene is roughly twice the cost of producing polystyrene, it is considered superior for its hardness, gloss, toughness, and electrical insulation properties.
Acrylonitrile butadiene styrene is one of the most widely-used plastics, and can be found in basic everyday items such as computer keyboards, kitchen appliances, LEGO toys, the plastic guards on wall sockets, and in the protective cases of power tools. The light weight and ability of acrylonitrile butadiene styrene to be injection molded has made it useful in creating products needing complex and precise shapes, such as musical instruments, automotive components, medical devices, protective headgear, golf club heads, and canoes.
Acrylonitrile butadiene styrene is widely used in automotive interior components such as trims, center console, interior grills, headliners, and exterior and interior mirrors. The growing automotive industry is likely to have a positive impact on market growth over the forecast period. The major reasons behind increasing demand for lightweight automotive materials is need to reduce CO2 emissions. Growing product demand in the automotive sector in various countries including South Korea, India, Malaysia, and Indonesia is likely to fuel market growth over the forecast period.
The major drivers propelling the growth of the global acrylonitrile butadiene styrene market are the increased integration of high performance plastics in the automotive industry for sustainable measures as well as rapidly growing demand in electronics and electrical applications.
The global acrylonitrile butadiene styrene is primarily driven by the rapidly growing construction activities, increasing urbanization, and industrialization around the world. However, the major factor, which may restrain the growth of the market is fluctuating prices of this product on the backdrop of limited supply of raw material as compared to the demand for the end product.
The manufacturing process of acrylonitrile butadiene styrene leads to emission of solid waste gases that are harmful to human beings and strictly violate environmental regulations.
Asia Pacific is expected to witness an increase in construction spending over the forecast period on account of rapid urbanization combined with increase in population in the region. China accounted for a major revenue share in the global market owing to increase in vehicle production in the country.
North America is expected to be the second-largest market. In this region, the U.S. is the largest market owing to the presence of major market players and leading end users such as automotive and electronics. Europe is another important region in the global acrylonitrile butadiene styrene market. The major contributors to this market are Germany, the U.K., Italy, Spain and France.
Key players operating in the global acrylonitrile butadiene styrene market are LG Chem., INEOS Styrolution, Trinseo, Kumho Petrochemica, Formosa Chemicals & Fibre Corp., SABIC, BASF SE, Toray Industries Inc., Mitsui Chemicals, Inc., Ravago Americas, and others.
The report covers total market for acrylonitrile butadiene styrene has been analyzed based on the Porter's five forces model. The impact of the different market factors, such as drivers, restraints, and opportunities, challenges key issues SWOT analysis, and technology forecasting is also illustrated in the report. This gives an idea about the key drivers, such as high growth and demand in emerging economies countries.
Scope of Acrylonitrile Butadiene Styrene (ABS) Market:
Global Acrylonitrile Butadiene Styrene Market, By Application
• Electrical & Electronics
• Consumer Goods
Global Acrylonitrile Butadiene Styrene Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating In Acrylonitrile Butadiene Styrene Market:
• LG Chem.
• INEOS Styrolution
• Kumho Petrochemica
• Formosa Chemicals & Fibre Corp.
• BASF SE
• Toray Industries Inc.
• Mitsui Chemicals Inc.
• Ravago Americas
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