The global size for Acrylonitrile Butadiene Styrene Market reached USD 21.50 Billion in 2022 and is poised to experience a rapid compound annual growth rate (CAGR) of 4.7% throughout the forecast period. The primary driver behind this surge in market revenue is the increasing demand for ABS within the automotive industry. ABS finds widespread use in automotive manufacturing, including the production of plastic alloys and decorative interior components of cars.
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Competitive Landscape:
The competitive landscape of the global Acrylonitrile Butadiene Styrene market is characterized by consolidation, with only a handful of key players operating both on a global and regional scale. These prominent industry leaders are actively involved in forming strategic alliances to diversify their product portfolios and establish strong market positions. Some of the major companies that feature prominently in the global ABS market report include LG Chem, Asahi Kasei Corporation, CHIMEI, Formosa Plastics Corporation, Kumho Petrochemical, SABIC, Trinseo, BASF SE, DuPont, and INEOS Styrolution Group GmbH.
An illustrative example of such collaboration within the industry occurred on June 2, 2021, when Nexeo Plastics, a leading global distributor of thermoplastics resins, partnered with material manufacturer Covestro to jointly develop and introduce Addigy FPB 2684 3D, an innovative Polycarbonate/ABS 3D printing filament. This material stands out for its exceptional Ultraviolet (UV) resistance, making it well-suited for outdoor fixtures and end products. Notably, Addigy FPB 2684 boasts the highest thermal resistance (122 degrees Celsius) among its class of easy printing materials, facilitating the continuous 3D printing of large components and parts.
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Further key findings from the report suggest
- The composition of styrene in the polymer lies in the range of 40% to 60%, and it gives rigidity and process ability to plastics as well as a nice and glossy finish.
- The application in consumer goods and home appliances contributed to the largest market share in 2020 and is expected to grow at a rate of 6.7% in the forecast period owing to an increase in the level of the disposable income of the people in the region.
- The market in the Asia Pacific region dominated the market in 2020 and is projected to maintain its market dominance throughout the forecast period growing at a rate of 6.6%. This can be attributed to the growth of end-user industries such as the automotive, consumer goods & home appliances, and electronics industry. Favorable government initiatives for infrastructure development in the region, especially in developing countries like China and India, are also expected to drive the market growth.
Acrylonitrile Butadiene Styrene Market Segmentation:
By Raw Material Outlook:
- Acrylonitrile
- Butadiene
- Styrene Monomers
By Process Outlook:
- Injection Molding
- Extrusion
- Blow Molding
- Others
By Application Outlook:
- Automotive & Transportation
- Construction
- Electronics
- Consumer Goods and Home Appliances
- Others
Regional scope:
North America; Europe; Asia Pacific; Latin America; Middle East & Africa
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