Acrylonitrile-Butadiene-Styrene (ABS) market size is projected to surpass USD 32.5 billion by 2023, growing at a CAGR between 7.2% and 7.8% from 2017 to 2023. Acrylonitrile Butadiene Styrene (ABS) is a polymer comprising of acrylonitrile, butadiene and styrene. Styrene is the major constituent of ABS. Automotive parts, pipes, industrial appliances, machines, and telephone components are some of the most commonly seen uses of acrylonitrile butadiene styrene. ABS polymers are also resistant to aqueous acids, alkalis, alcohols and animal, vegetable and mineral oils, concentrated hydrochloric and phosphoric acids.
Figure 1: Global Acrylonitrile-Butadiene-Styrene (ABS) market projection
The global ABS market is anticipated to be driven by growing demand from automobile and consumer goods (appliances) industries. Rapid economic growth and increasing purchasing power parity in emerging markets such as China, India and Brazil is expected to drive the demand for consumer appliances and automobiles over the period of 2017 to 2023. This in turn is likely to boost the market for acrylonitrile butadiene styrene market over the period of 2017 to 2023. Moreover, the rising concerns about the impact of acrylonitrile butadiene styrene on the environment and the availability of other thermoplastics as alternatives are restraining the growth of this global market significantly. Globally, the demand for light weight and fuel efficient automobiles is on the rise among the middle class and upper middle class families. Acrylonitrile butadiene styrene has been increasingly preferred over conventional materials such as metal, wood and nylon in the automobiles, owing to which the global market for acrylonitrile butadiene styrene has grown at an annual rate of 6.5% to 7% over the period of 2013 to 2016. This trend is expected to continue in the years to come and the suppliers of acrylonitrile butadiene styrene are likely to cash in more opportunities.
The global Acrylonitrile-Butadiene-Styrene (ABS) market is segmented on the basis of applications such as home appliances, automobiles, electrical and electronic appliances, consumer goods, and construction equipment.
Geographic Coverage and Analysis:
The global acrylonitrile butadiene styrene market covers the analysis of geographies such as North America, Europe, Asia-Pacific and RoW. In this section the key trends and market size for each geography is provided over the period of 2017 – 2023.
Figure 2: Global Acrylonitrile-Butadiene-Styrene (ABS) market by region
Among the geographies Asia-Pacific leads the global market with market share over 65%, with china alone accounting for 58% of the market share in 2016. Moreover, Asia-Pacific region is expected to grow at the highest CAGR followed by RoW region. North America is expected to grow at modest CAGR over the forecast period, owing to steady demand from the U.S. and Canada.
The companies covered in the report include LG Chemicals, Styron, Chi Mei Corporation, KKPC, Styrolution, Formosa Plastic Company, Asahi Kasei, Sabic, Elix Polymers, China Petroleum and Chemical, Entec Polymers and Polyone.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of Acrylonitrile-Butadiene-Styrene globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the Acrylonitrile-Butadiene-Styrene market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the Acrylonitrile-Butadiene-Styrene market to understand the present and future trends in this market and formulate their strategies accordingly.