Global Acrylonitrile Butadiene Styrene Market – Overview
The global acrylonitrile butadiene styrene market is profiled in great detail in the latest research report from Market Research Future (MRFR), providing readers with a comprehensive overview of the market through its historical growth trajectory, present conditions, and future growth prospects. The historical stats of the acrylonitrile butadiene styrene market are detailed in the report, in order to provide readers with a complete overview of the market’s historical growth trajectory. The worldwide Acrylonitrile Butadiene Styrene (ABS) Market is relied upon to develop at a solid CAGR of around 5.70% during 2020-2030.
The historical stats provided in the report also give analysts a solid platform to base future projections about the market. Based on this platform, future projections for the acrylonitrile butadiene styrene market’s growth trajectory over the forecast period are provided in the report. The leading players in the global acrylonitrile butadiene styrene market are also profiled in the report in order to give readers a comprehensive analysis of the leading players in the global acrylonitrile butadiene styrene market. The major drivers and restraints affecting the global acrylonitrile butadiene styrene market are also profiled in the report to provide readers a comprehensive overview of what’s making the market tick and what is holding the market back.
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Global Acrylonitrile Butadiene Styrene Market – Prominent Players
TORAY INDUSTRIES INC. (Japan),KUMHO PETROCHEMICAL (South Korea),Ravago Americas (U.S.),SABIC (Saudi Arabia),Trinseo (U.S.),BASF SE (Germany),INEOS Styrolution (Germany),Formosa Chemicals & Fibre Corp. (Taiwan),LG Chem. (South Korea),Mitsui Chemicals Inc. (Japan) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Acrylonitrile Butadiene Styrene Market.
Acrylonitrile butadiene styrene is a type of thermoplastic-based polymer and is used in a wide range of applications due to its physical durability and resistance to chemicals and heat. Acrylonitrile butadiene styrene is obtained in the form of an amorphous powder, but can be molded into any shape imaginable to be used in a wide array of end uses. The growing construction industry is likely to be a major driver for the acrylonitrile butadiene styrene market over the forecast period. Acrylonitrile butadiene styrene is used in various applications in the construction industry, as it represents a cheap alternative to more expensive materials and provides comparable levels of resistance to heat and chemicals. Growing residential construction is likely to remain a major driver for the global acrylonitrile butadiene styrene market.
The growing demand for household appliances and electrical and electronics industry products is also likely to be a major driver for the global acrylonitrile butadiene styrene market over the forecast period. Due to its favorable physical characteristics, acrylonitrile butadiene styrene is used in the production of a wide range of household appliances made from plastic. Electrical and electronics components are also made from acrylonitrile butadiene styrene, as it presents a significant barrier against electric currents. This is likely to remain a major driver for the global acrylonitrile butadiene styrene market over the forecast period.
Conversely, factors such as the volatility in the prices and the demand and supply gap in the raw materials required for the production of ABS are acting as a major tailwind impeding the growth of the market. However, the increasing uses of black ABS plastic which is highly recyclable will support the growth of the market, accounting for about half of all plastic materials, globally.
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Acrylonitrile Butadiene Styrene Market – Segments:
The global acrylonitrile butadiene styrene market is segmented on the basis of application and region.
By application, the global acrylonitrile butadiene styrene market is segmented into appliances, electrical and electronics, automotive, building and construction, consumer goods, sports equipment, musical instruments, and others. The appliances segment holds the largest share in the global acrylonitrile butadiene styrene market, followed by the electrical and electronics segment. The appliances segment accounted for 31% of the global acrylonitrile butadiene styrene market in 2016. The growing demand for residential construction projects is likely to be a major driver for the global acrylonitrile butadiene styrene market over the forecast period, as household appliances are majorly used in residential construction projects. Electrical and electronics components also find significant usage in residential construction projects, leading to growing demand for acrylonitrile butadiene styrene.
Acrylonitrile Butadiene Styrene Market – Regional Analysis:
The Asia Pacific region, heading with some of the burgeoning end-use industries such as automotive and building & construction sector accounts for the leading market in the global acrylonitrile butadiene styrene market. APAC countries such as China, India, South Korea, and Japan backed by the largest consumption of the products accounts of the key contributors to the growth of the regional market.
Additional factors boosting the growth of the regional market include the growing population and the increasing per capita income in the region. Furthermore, the raw materials advantage that is continually increasing investments and the number of manufacturing sites are some of the dominant driving forces which will allow in the region to retain its dominance throughout the forecast period.
The acrylonitrile butadiene styrene market in the North American region accounts for the second-largest market, globally. Factors such as colossal growth opportunity for construction and sports industry, the presence of a well-penetrated automotive sector, and sustained increase in the product demand are substantiating the growth in the regional market. The US backed by the presence of well-established end-use industries such as automotive and sports, stands as the primary growth driver for the regional market.
The European acrylonitrile butadiene styrene market accounts for a rapidly growing market, globally. Factors such as the presence of a well-developed automotive industry drive the growth of the regional market, consuming a massive amount of the product. Some of the European countries such as Germany, Italy, and France account for the significant growth contributors for the regional market. Moreover, the burgeoning aerospace industry accounts responsible for the major consumption of acrylonitrile butadiene styrene in this region.
Industry/ Innovation/ Related News
April 04, 2019 —– Trinseo (the US), a leading global material solutions provider and manufacturer of plastics, latex binders, and synthetic rubber introduced its new long-glass-fiber-reinforced acrylonitrile butadiene styrene (ABS LGF) alloy. The innovative lightweight plastic can replace metal in semi-structural components, providing up to 30 percent weight savings compared to magnesium or aluminum. Trinseo presented its new ABS LGF
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