Acrylonitrile Butadiene Styrene Market Size & Growth Analysis to 2030

The global acrylonitrile butadiene styrene market is anticipated to register a significant CAGR of over 5% during the forecast period from 2023 to 2030. The increasing demand for ABS in the automotive industry due to its lightweight is a major factor driving the industry growth. The ABS is widely used in the manufacturing of various automotive components such as interior, seating, bumper, etc. The growing automotive industry across the globe is a significant factor to fuel the market growth over the forecast period. Furthermore, the growing demand for the product in the construction sector due to its various properties such as lightweight, resistance, and excellent mechanical strength is projected to propel the market growth during the analysis period.

Market Snapshot:

Market Drivers:

Increasing Demand in the Automotive Industry: ABS is widely used in the automotive industry for various applications, including interior trims, exterior components, dashboard parts, and automotive body panels. The automotive industry’s continuous growth, driven by factors such as rising vehicle production, increasing consumer demand for vehicles, and technological advancements, has contributed to the increased demand for ABS. ABS offers excellent mechanical properties, impact resistance, and dimensional stability, making it a preferred choice for automotive applications.

Growing Demand in the Electronics and Electrical Industry: ABS is used in the electronics and electrical industry for manufacturing various components, including computer and laptop housings, appliance parts, electrical enclosures, and connectors. The expanding electronics and electrical industry, driven by factors such as increasing consumer electronics sales, rising demand for smart devices, and technological advancements, has led to a higher demand for ABS. The material’s properties, such as heat resistance, flame retardancy, and electrical insulation, make it suitable for these applications.

Favorable Properties and Versatility: ABS offers a combination of desirable properties, including good impact resistance, toughness, rigidity, dimensional stability, and excellent processability. These properties make ABS a versatile material suitable for a wide range of applications across different industries. The ability to meet diverse product requirements has driven the demand for ABS and contributed to market growth.

Growth in the Construction Industry: ABS is used in the construction industry for various applications, including pipes and fittings, roofing membranes, wall claddings, and window profiles. The construction industry’s growth, driven by factors such as increasing urbanization, infrastructure development, and construction projects, has fueled the demand for ABS. ABS’s properties, such as chemical resistance, durability, and weatherability, make it suitable for construction applications.

Increasing Demand for Consumer Goods: ABS is used in the manufacturing of consumer goods such as toys, luggage, furniture, and kitchen appliances. The growing consumer goods industry, driven by rising consumer spending, changing lifestyles, and product innovations, has contributed to the demand for ABS. The material’s properties, including aesthetics, impact resistance, and ease of processing, make it an attractive choice for consumer goods manufacturers.

Technological Advancements and Product Innovation: Technological advancements and product innovations in the ABS market have driven market growth. Manufacturers are continuously developing improved grades of ABS with enhanced properties, such as higher heat resistance, improved surface finish, and better flow characteristics. These advancements have expanded the application areas of ABS and attracted customers, driving market growth.

Regional Growth and Emerging Markets: The ABS market has witnessed growth in various regions, including Asia-Pacific, North America, and Europe. Factors such as industrialization, urbanization, and economic growth in these regions have increased the demand for ABS. Additionally, emerging markets in regions like Southeast Asia, Latin America, and the Middle East are experiencing increased consumption of ABS due to infrastructure development, growing automotive production, and rising consumer goods demand.

Market Insights:

By type, the opaque segment dominated the global acrylonitrile butadiene styrene market in the benchmark year

The global acrylonitrile butadiene styrene market is bifurcated into type, application, and geography. On the basis of type, the market is further segmented into opaque, transparent, and colored. The opaque segment is expected to dominate the global market with the largest revenue share accounting for over 40% market share by the end of the analysis period. The properties associated with the opaque ABS such as hardness, rigidity, aging resistance, and good chemical resistance are estimated to increase its demand in the automotive industry, which is a significant factor driving the segment growth.

By application, the appliances segment is expected to hold te largest revenue share of the market during the forecast period

On the basis of application, the market is segmented into appliances, electrical & electronics, automotive, consumer goods, construction, and others. The appliances segment dominated the global acrylonitrile butadiene styrene market in 2020 and is expected to maintain its dominance over the forecast period. The growing demand for home appliances around the world such as washing machines, dryers, and microwave ovens is a prominent factor driving the segment growth. Furthermore, the growing purchasing power of consumers in developing economies is anticipated to propel the segment over the forecast period. On the other hand, the growing automotive industry is estimated to increase the demand for ABS in automotive applications significantly.

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The acrylonitrile butadiene styrene comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2023 to 2030. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The acrylonitrile butadiene styrene market research report presents the analysis of each segment from 2020 to 2030 considering 2022 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2023 to 2030.

Historical & Forecast Period

• 2020-21 – Historical Year
• 2022 – Base Year
• 2023-2030 – Forecast Period

Market Segmentation:

By Type:

• Opaque
• Transparent
• Colored

By Application:

• Appliances
• Electrical & Electronics
• Automotive
• Consumer Goods
• Construction
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regional Analysis:

By region, the Asia Pacific is estimated to dominate the global market over the forecast period

On the basis of region, the Asia Pacific dominated the global acrylonitrile butadiene styrene market in 2022 and is expected to hold the largest revenue share of around 1/3 market share by the end of the analysis period. The increasing demand for home appliances and the growing construction industry in developing countries are some major factors driving the market growth in the region. Furthermore, the increasing demand for ABS in the automotive industry is further anticipated to propel the market growth in the Asia Pacific. Moreover, the improving lifestyle, growing purchasing power, and increasing disposable income per capita is estimated to uplift the market growth in the Asia Pacific.

Geographically, the acrylonitrile butadiene styrene market report comprises dedicated sections centering on the regional market revenue and trends. The acrylonitrile butadiene styrene market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The acrylonitrile butadiene styrene market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Acrylonitrile butadiene styrene market estimates have also been provided for the historical years 2020 & 2021 along with forecasts for the period from 2023 – 2030.

Competitive Assessment:

Some of the major market players operating in the global acrylonitrile butadiene styrene market are LG Chemicals, Asahi Kasei Corporation, CHIMEI, Formosa Plastics Corporation, and KUMHO PETROCHEMICAL. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• LG Chemicals
• Asahi Kasei Corporation
• CHIMEI
• Formosa Plastics Corporation
• KUMHO PETROCHEMICAL
• SABIC
• Trinseo
• INEOS Styrolution Group GmbH
• BASF SE
• DuPont

Key Questions Answered by Acrylonitrile Butadiene Styrene Market Report

• Global acrylonitrile butadiene styrene market forecasts from 2023-2030
• Regional market forecasts from 2023-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2023-2030 covering 15 major countries from the regions as mentioned above
• Acrylonitrile butadiene styrene submarket forecasts from 2023-2030 covering the market by type, application, end-use, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level acrylonitrile butadiene styrene markets from 2023-2030
• Competitive Landscape and market positioning of top 10 players operating in the market