Acrylonitrile Butadiene Styrene Market Insights
The global acrylonitrile butadiene styrene market is anticipated to grow at a significant CAGR over the forecast period. The market is expected to be influenced by factors such as light-weightiness, superior fuel efficiency and rising adoption by the automotive industry. Along with this, on account of its excellent mechanical strength and corrosion resistance nature, adoption of ABS is anticipated to increase in the manufacturing of pipes & fittings.
Moreover, the ability of ABS to be molded and suppressed is also projected to lead to an increase in its applications in the production of medical devices, kitchen appliances and drain-waste-vent among others.
However, rising adoption of Styrene Butadiene Rubber (SBR) instead of ABS is expected to affect the profitability of the industry.
Acrylonitrile Butadiene Styrene Market: Application Insights
Acrylonitrile Butadiene Styrene finds application in appliances, automotive, electrical & electronics, construction, and consumer goods among others. The automotive segment is anticipated to dominate the market over the forecast period owing to rising demand for electric vehicles, growing technology, and increasing income level.
The construction segment is projected to experience a healthy CAGR owing to benefits associated with ABS such as light-weightiness and easy installation. These benefits are anticipated to lead to an increase in adoption of ABS for producing vacuum parts and pipes & fittings.
Acrylonitrile Butadiene Styrene Market: Regional Insights
The market in the Asia Pacific accounted for a substantial market share during the forecast period and is further anticipated to grow at a high CAGR over the coming years. Japan, China, Malaysia, Indonesia, and India are expected to be the major revenue contributors to the overall regional market owing to rising income and increasing spending on infrastructure projects in these regions. Other factors responsible for the growth of the Asia Pacific market are the growing automobile and construction industry.
Increasing vehicle production coupled with the automotive industry in North America is also projected to stimulate the market growth. The presence of key manufacturers in the region is also expected to boost the market for ABS.
Acrylonitrile Butadiene Styrene Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase ABS over the coming years. Some leading consumers of ABS are Vinci, Hochtief, Balfour Beatty, Volkswagen Group, General Motors, and Ford.
Acrylonitrile Butadiene Styrene Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Acrylonitrile Butadiene Styrene Market Share & Competitor Analysis
Some of the players operating in the global ABS market include LG Chemicals, Asahi Kasei, Chi Mei Corporation, Formosa Plastics, KKPC, SABIC, Styron, Styrolution, BASF SE, and DuPont.
In June 2018, German styrenics producer Ineos Styrolution announced its plans to produce Acrylonitrile Butadiene Styrene (ABS) at its plant in France by the first quarter on 2020. The plant is expected to help in meeting the growing demand from automotive, household, electronics, healthcare, construction and packaging industries in Europe. The company plans on converting one of its production lines to a production line for ABS with a production capacity of about 50,000 t/y.
In June 2018, Lotte Chemical Alabama announced an $11.4 million, 61,000-square-foot expansion at its Auburn Technology Park North location. The expansion is projected to accommodate the company's growth and help in supplying acrylonitrile butadiene styrene (ABS) and polycarbonate (PC) plastics.
The report segments the Acrylonitrile Butadiene Styrene Market on the basis of:
By Application
· Appliances
· Automotive
· Electrical & Electronics
· Construction
· Consumer Goods
· Others
By Region:
· North America
· Europe
· Asia Pacific
· Central & South America
· Middle East & Africa
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