NEW YORK, United States, July 13, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Acrylonitrile Butadiene Styrene (ABS) Market Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database. According to the latest research study, the demand of global Acrylonitrile Butadiene Styrene (ABS) Market size was valued at approximately USD 21.4 billion in 2022. The market is expected to grow above a CAGR of 4.5% and is anticipated to reach over USD 30.4 billion by 2030.
The report analyzes the global Acrylonitrile Butadiene Styrene (ABS) market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Acrylonitrile Butadiene Styrene (ABS) industry.
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Acrylonitrile Butadiene Styrene (ABS) Market Overview:
ABS is composed of Acrylonitrile, Butadiene, and Styrene, which are the three primary components of this copolymer with a medium price and strength. Three distinct monomers combine to form the terpolymer that it is. Among standard and engineered resins, it is a common thermoplastic resin that can typically meet the property specifications at a reasonable cost. It is a chemically resistant, robust, hard, and stiff material. Acrylonitrile, which imparts chemical and thermal stability to the polymer, butadiene, which increases toughness and strength, and styrene, which imparts an aesthetically appealing and glossy finish, are the three monomers used to produce Acrylonitrile-Butadiene-Styrene. These three monomers each serve a unique role in the material's performance.
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- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
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Key Insights from Primary Research
- As per the analysis, the Acrylonitrile Butadiene Styrene (ABS) market share is likely to grow above a CAGR of around 4.5% between 2023 and 2030.
- The Acrylonitrile Butadiene Styrene (ABS) market size was worth around USD 21.4 billion in 2022 and is estimated to hit approximately USD 30.4 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The growing automotive sector is expected to drive the acrylonitrile butadiene styrene market over the forecast period.
- Based on the technology, the extrusion segment is expected to dominate the market during the forecast period.
- Based on the grade, the flame-retardant grade is expected to capture a significant market share during the forecast period.
- Based on the application, the automotive application is expected to dominate the market over the forecast period.
- Based on region, the Asia Pacific is expected to dominate the market over the forecast period.
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Acrylonitrile Butadiene Styrene (ABS) Market: Growth Drivers
- Increasing ABS demand from the automotive industry drives market growth
ABS is becoming increasingly popular in the automotive industry due to its superior strength, alluring colour, and lightweight vehicles. ABS is utilized in wheels, heavy-duty equipment, and numerous automotive applications, among others. China is the greatest automobile market in the world, according to the International Trade Administration (ITA), and the Chinese government anticipates that 35 million automobiles will be manufactured in China by 2025. Invest in India projects that by 2027, sales of electric vehicles will reach USD 6.34 million per year, growing at a CAGR of 44%. As a result, increased automation in manufacturing will necessitate a greater demand for automotive components, which will drive the ABS market over the forecast period.
Acrylonitrile Butadiene Styrene (ABS) Market: Restraints
- The expensive price of ABS hampers market expansion
Acrylonitrile Butadiene Styrene is significantly costlier. This is due to its high manufacturing costs; in addition to being more expensive, the apparatus and equipment required to manufacture ABS polymers also require extensive maintenance. ABS polymer-made products are more expensive than those made from other materials, which tends to limit the market's growth. In addition, even if ABS produces better results, consumers typically desire cheaper prices. These elements have emerged as Composite Coatings' primary consumption issue, limiting the expansion of the acrylonitrile butadiene styrene industry.
Competitive Players
The report contains qualitative and quantitative research on the global Acrylonitrile Butadiene Styrene (ABS) Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.
Some of the main players in the global Acrylonitrile Butadiene Styrene (ABS) market include;
- Trinseo
- Ravago Americas
- KUMHO PETROCHEMICAL
- TORAY INDUSTRIES INC.
- SABIC
- INEOS Styrolution
- BASF SE
- LG Chem
- Trinseo
- Formosa Chemicals & Fibre Corp.
- The 3M Company
- Mitsui Chemicals Inc.
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Acrylonitrile Butadiene Styrene (ABS) Market: Segmentation
The global Acrylonitrile Butadiene Styrene (ABS) industry is segmented based on technology, grade, application, and region.
The global market is segmented by technology into extrusion, injection molding, blow molding, and others. The segment of extrusion is anticipated to lead the market during the forecast period. The increased use of extrusion processes in the production of ABS polymers has accelerated the growth of the ABS market in end-use industries.
The global Acrylonitrile Butadiene Styrene (ABS) industry is segmented by grade into flame retardant grade, impact grade, gloss grade, platable grade, composite grade, and others. During the forecast period, the flame-retardant grade is anticipated to capture a significant market share. The flame-retardant thermoplastic will reduce ignition and help prevent the spread of fire caused by electrical problems or other potential causes.
The global acrylonitrile butadiene styrene industry is segmented by application into electrical & electronics, automotive, construction, consumer goods, and others. During the forecast period, the automotive application is expected to dominate the market.
Regional Analysis:
The Asia-Pacific region is anticipated to lead the market during the forecast time frame.
During the forecast period, Asia-Pacific is anticipated to dominate the global acrylonitrile butadiene styrene market. The region's market expansion is attributable to the expansion of the automotive, electronics, and construction industries, among others. In developing nations such as India, China, Indonesia, and others, the government has worked to enhance infrastructure, which has facilitated the growth of numerous industries in this region. China dominated the Asia-Pacific region and contributed more than half of the total economic output of the region.
Despite trade disruptions caused by the U.S.-China trade war, the Chinese appliance market is expected to expand over the forecast period due to the country's expanding population, rising disposable income, and consumers' increased purchasing power. One-third of Japan's economic output is generated by its electric and electronic sector, which is also the world leader in the production of computers, smartphones, and other domestic goods. According to Invest India, the auto component market will be worth USD 49 billion by 2020 and USD 200 billion by 2026. Consequently, this is anticipated to stimulate the regional market.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Acrylonitrile Butadiene Styrene (ABS) industry?
- What are the main driving factors propelling the Acrylonitrile Butadiene Styrene (ABS) Market forward?
- What are the leading companies in the Acrylonitrile Butadiene Styrene (ABS) Industry?
- What segments does the Acrylonitrile Butadiene Styrene (ABS) Market cover?
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Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 21.4 Billion |
| Market Forecast in 2030 | USD 30.4 Billion |
| Growth Rate | CAGR of 4.5% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | Trinseo, Ravago Americas, KUMHO PETROCHEMICAL, TORAY INDUSTRIES INC., SABIC, INEOS Styrolution, BASF SE, LG Chem, Trinseo, Formosa Chemicals & Fibre Corp., The 3M Company, and Mitsui Chemicals Inc., among others. |
| Segments Covered | By Technology, By Grade, By Application, and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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The global Acrylonitrile Butadiene Styrene (ABS) market is segmented as follows:
By Technology
- Extrusion
- Injection Molding
- Blow Molding
- Others
By Grade
- Flame Retardant Grade
- Impact
- Gloss
- Platable
- Composite Grade
- Others
By Application
- Electrical & Electronics
- Automotive
- Construction
- Consumer Goods
- Appliances
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2023-2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Technology, By Grade, By Application, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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