Selbyville, Delaware, April 12, 2021 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the global Acrylonitrile Butadiene Styrene Market was estimated at $25.95 billion in 2020 and is slated to exceed $39.27 million by 2027, registering a CAGR of 6.3% from 2021 to 2027. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, competitive scenarios.
The butadiene in ABS improves toughness and strength while acrylonitrile adds thermal & chemical stability. Additionally, styrene gives the finished polymer a glossy finish. Since acrylonitrile butadiene styrene has a low melting point, it is ideal for injection molding and 3D printing. The emerging applications of acrylonitrile butadiene styrene in 3D printing coupled with the rising demand for desktop 3D printers will support the overall acrylonitrile butadiene styrene industry. 3D FDM/FFF printers and ABS plastics are a very popular combination for numerous applications.
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The electrical & electronics segment will account for 25% of the total market share by 2027. acrylonitrile butadiene styrene is widely used in electrical & electronic products such as personal computers & discs, telephones, televisions, radios, computers, DVD players, scanners, and printers. Moreover, The appliances segment accounts for the largest share in the global ABS industry. The appliances industry shall grow at a 6.3% CAGR from 2021 - 2027.
Asia-Pacific, followed by North America, to maintain its lead position by 2027:
Asia Pacific will dominate the global ABS market and shall account for close to 75% of the volume share in 2027. The region shall exhibit a 5.1% CAGR owing to the rising product adoption in the consumer goods, appliances, and automotive industry. Furthermore, surging construction activities in developing countries are expected to expand the acrylonitrile butadiene styrene market sales. In the construction industry, ABS is used to manufacture plastic tubing and corrugated plastic structures.
North America will grow at a considerable rate owing to the emerging applications of acrylonitrile butadiene styrene, majorly in the U.S. The rising demand for consumer goods coupled with the growing population is likely to propel the consumption of ABS in consumer goods production. The polymer is used according to its distinct characteristics and as per the application & manufacturing requirements of the end-products.
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Leading market players:
The acrylonitrile butadiene styrene industry share is competitive and includes manufacturers such as LG Chem, Ltd., CHIMEI, INEOS Styrolution Group GmbH, Kumho Petrochemical, Formosa Chemicals & Fibre Corp., Trinseo S.A., Asahi Kasei Corporation, SABIC, China Petroleum & Chemical Corporation, ELIX Polymers, BASF SE, Röchling, Toray Industries, Inc., Ampa Plastics Group (Pty) Ltd., The Dow Chemical Company, Ravago Manufacturing Americas, LLC, Avient Corporation, Entec Polymers, RTP Company, Bayer AG, Techno-UMG Co., Ltd., and Mitsui Chemicals, Inc., among others.
Technological advancements and product innovations in ABS alloys with enhanced strength will propel product development, in turn, positively contributing to the overall industry. Key players, such as ELIX Polymers and CHIMEI, are majorly focusing on expanding their product range and production capacities. For instance, in March 2021, ELIX Polymers launched medical pre-colored ABS materials, M203FC or M205FC that are used for laser marking to ensure compliance with Europe and the U.S. medical packaging codes. This strategy will enable the company to enhance its offerings for medical packaging applications.
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