A recent report published by Infinium Global Research on acrylonitrile-butadiene-styrene (ABS) market provides an in-depth analysis of segments and sub-segments in the global as well as the regional acrylonitrile-butadiene-styrene market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional acrylonitrile-butadiene-styrene market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global acrylonitrile-butadiene-styrene market. According to the report, the global acrylonitrile-butadiene-styrene market is projected to grow at a CAGR of 7.5% over the forecast period of 2020-2026.

Market Insight

ABS (acrylonitrile-butadiene-styrene) is a low-cost engineering thermoplastic that is easily machined, fabricated, and thermoformed. It is used as a structural plastic for several applications in automotive components, computer cabinets, machine components, housing, and construction. The current concerns over the spread of coronavirus are expected to have a major impact on the growth of the acrylonitrile-butadiene-styrene market. COVID-19 outbreak's rapid development worldwide has led to severe implications for most manufacturers of electronics and electrical products, automobiles, and construction equipment. The demand as well as the supply side is affected due to the pandemic which has reduced the sales of acrylonitrile-butadiene-styrene.

Further, the current pandemic has led to a sudden pause to manufacturing activities across the world, affecting the demand for raw materials from production & processing units. Nevertheless, by the mid-term of 2021, the industry is expected to witness stability due to strong intervention from several country governments to boost the economy. During this period, several countries will also see the rise of several medium and small-scale industries, which in turn, will propel the demand for ABS. The industry is also likely to recover over the forecast period, given the rising demand in automobiles, auto components, and consumer goods.

The global acrylonitrile-butadiene-styrene market is expected to be driven by growing demand from the automobile and consumer appliances industries. Rapid economic growth and increasing purchasing power of the consumer in emerging countries such as China, India, and Brazil are expected to drive the demand for consumer appliances and automobiles sector which in turn propel the demand of ABS market. ABS offers a good balance of impact, heat, chemical and abrasion resistance, dimensional stability, tensile strength, and surface hardness. The favorable properties of ABS, such as fire-retardance, heat-resistance, and toughness increase its uses in automotive parts, pipes, industrial appliances, machines, and telephone components. The global rise in the demand for lightweight and fuel-efficient auto components is on the rise among the middle class and upper-middle-class families, which in turn is expected to escalate the demand of acrylonitrile-butadiene-styrene. However, the availability of other alternatives for ABS may restrain the growth of the global market significantly. Furthermore, rapid technological advancements and increasing adoption of acrylonitrile-butadiene-styrene over conventional materials in automobile industry offer lucrative opportunities for the growth of the ABS market in the forecast period.

Among the regions, Asia Pacific holds a major share in the global acrylonitrile-butadiene-styrene market. Factors such as rapid economic development, rising demand from end user industries such as automobiles, electrical and electronic appliances, consumer goods, and construction equipment drive the growth of the Asia Pacific acrylonitrile-butadiene-styrene market. North America is anticipated to hold the second-largest share owing to rapid industrialization and the growing purchasing power of consumers in this region. The acrylonitrile-butadiene-styrene market in this region is anticipated to expand at a significant growth rate during the forecast period due to the growth of the automotive and electronic industry.

Segment Covered

The report on the global acrylonitrile-butadiene-styrene market covers segments such as application. On the basis of application, the sub-markets include home appliances, automobiles, electrical and electronic appliances, consumer goods, and construction equipment.

Companies Profiled:

The report provides profiles of the companies in the market such as LG Chemicals, Styron, Chi Mei Corporation, KKPC, Styrolution, Formosa Plastic Company, Asahi Kasei, Sabic, Elix Polymers, and China Petroleum and Chemical.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the acrylonitrile-butadiene-styrene market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.