The ABS market is projected to grow from USD 27.45 Billion in 2020 to USD 46.88 Billion by 2027, driven by automotive industry growth and ABS adoption.
Market Overview:
Acrylonitrile Butadiene Styrene Market is valued at USD 27.45 Billion in 2020 and expected to reach USD 46.88 Billion by 2027 with the CAGR of 6.92% over the forecast period.
Acrylonitrile Butadiene Styrene Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Factors such as increasing growth of automotive industry, adoption of ABS in automotive sector, various advantages of ABS in transportation, construction, electronics and other industries are some of the major factors driving the market growth.
Top Companies of Acrylonitrile Butadiene Styrene:
The major key players of global acrylonitrile butadiene styrene market are LG Chemicals, Asahi Kasei, Chi Mei Corporation, Formosa Plastics, KKPC, SABIC, Styron, Styrolution, BASF SE, and DuPont , INEOS Styrolution, Trinseo , Formosa Chemicals & Fibre Corp., SABIC , BASF SE, TORAY INDUSTRIES INC., Mitsui Chemicals, Inc., Ravago Americas and others.
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Scope of Acrylonitrile Butadiene Styrene Market:
(ABS) or Acrylonitrile Butadiene Styrene is a common opaque thermoplastic polymer widely used in electronic housing, auto parts, consumer products, pipe fittings, Lego bricks, toys and others. ABS is impact resistant engineering thermoplastic and amorphous polymer of acrylonitrile, butadiene & styrene. Acronytrile is synthetic monomer and contributes to ABS chemical resistance and heat stability. Butadiene delivers toughness and impact strength to ABS polymer. Styrene provides rigidity and processability to ABS plastic. This engineering plastic is popular because of low production cost and ease with which material with machined by plastic manufacturers. It has unique features such as structural strength and stiffness, chemical resistance, excellent high and low performance, electrical insulation properties, dimensional stability, tensile strength, surface hardness and electrical characteristics. ABS falls between standard resins such as PVC, polyethylene, polystyrene and engineering resins like acrylic, nylon and often meets satisfactory engineering properties at a reasonable cost. It offers greater impact properties and high heat distortion temperature. As ABS is amorphous, therefore it has no true melting point. The ABS market is witnessing its growing demand in electronics industry, where it is used in business machines, computers, radios, televisions telephone handsets and in automobile sector, it is used in instrument panels, consoles, radiator grills and interior trim parts with growing use in recreational vehicles.
Corona virus pandemic is causing disruption and economic hardship around the globe. Covid-19 has shown a declining impact on the growth of global acrylonitrile butadiene styrene market as ABS is used as a raw material in various industries such as automotive, plastic, construction and others and all these industries have shown a decline growth in the Covid-19 which has also affected the demand for Acrylonitrile Butadiene Styrene.
The regions covered in this global acrylonitrile butadiene styrene market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of global healthcare analytics is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Acrylonitrile Butadiene Styrene Market Segmentations
Acrylonitrile butadiene styrene market is segmented on the basis of application and regional and country level. On the basis of application global acrylonitrile market is classified into automotive, consuzer goods, appliances, construction, electronics and others.
By Applications:
Automotive
Consumer goods
Appliances
Construction
Electronics
Others
Regional Analysis:
North America is expected to dominate the Acrylonitrile Butadiene Styrene Market:
The global acrylonitrile butadiene styrene market is segmented into North America, Europe, Asia- Pacific Latin America and Middle East & Africa. North America is expected to dominate the market within the forecast period attributed to increasing vehicle production and high investment in research and development in this region. As in mass produced vehicles, many of plastic parts are made up of ABS and having properties like injection molded from resins. ABS is one of the most common materials which is used to manufacture automotive covers, shrouds and housing. In addition, growing adoption ABS in 3D printing is also enhancing the growth of the market. Thus, the key players in North America are focusing on using ABS in manufacturing of 3d printers. For example; in May 2020, Bigrep launced ABS material for large format 3d printing. Europe is projected to capture the second largest share of global acrylonitrile butadiene styrene market due to increased production of electric vehicle in this region.
Asia pacific is also expected to witness a fastest growth in the global acrylonitrile butadiene styrene due to increasing adoption of ABS in automotive industry and construction industry in this region. As ABS has various physical properties such as rigidity, tensile strength, toughness that is beneficial in production of vehicles, so there is increasing production of vehicles is anticipated to propel the growth of the market into the region.
Table of Contents:
Report Overview: It includes major players of the global Acrylonitrile Butadiene Styrene market covered in the research study, research scope, market segments by type, market segments by application, years considered for the research study, and objectives of the report.
Global Growth Trends: This section focuses on industry trends where market drivers and top market trends are shed light upon. It also provides growth rates of key producers operating in the global Acrylonitrile Butadiene Styrene market. Furthermore, it offers production and capacity analysis where marketing pricing trends, capacity, production, and production value of the global Acrylonitrile Butadiene Styrene market are discussed.
Market Share by Manufacturers: Here, the report provides details about revenue by manufacturers, production and capacity by manufacturers, price by manufacturers, expansion plans, mergers and acquisitions, and products, market entry dates, distribution, and market areas of key manufacturers.
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The article focuses on the growth and forecast of the Acrylonitrile Butadiene Styrene market until 2027.
Key players include LG Chemicals, BASF SE, SABIC, and Formosa Chemicals & Fibre Corp.
Growth is driven by the automotive industry's expansion and ABS's advantages in various sectors.
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