Acrylonitrile Butadiene Styrene Market Size, Trends, Manufacturers, Forecast 2023

Acrylonitrile Butadiene Styrene Market 2019 by Manufacturers, Type And Application, Regions, Forecast To 2023

Industry Survey, Growth, Competitive Landscape and Forecasts to 2023

PREPARED BY Market Research Future (Part of Wantstats Research & Media Pvt. Ltd.)

Acrylonitrile Butadiene Styrene MARKET 2018 Acrylonitrile Butadiene Styrene Market 2018: Industry Survey, Growth, Competitive Landscape and Forecasts to 2023 Introduction: Acrylonitrile butadiene styrene or ABS is a thermoplastic resin, which is commonly used in injection molding applications. It is available in the form of amorphous powder. This product is derived from butadiene, acrylonitrile, and styrene, which result into the formation of shiny, glossy yet tough, and durable plastic called acrylonitrile butadiene styrene. It is one of the finest polymers in styrenic family due to some important characteristic features such as greater hardness, toughness, good chemical resistance, and better stability. The global acrylonitrile butadiene styrene is primarily driven by the rapidly growing construction activities, increasing urbanization, and industrialization around the world. Additionally, increasing standards of living and disposable income of people, especially in developing countries incentivizing them to invest more in high end construction and home decorative activities. However, the major factor, which may restrain the growth of the market during the review period is fluctuating prices of this product on the backdrop of limited supply of raw material as compared to the demand for the end product.

The protuberant factors driving the growth of the global Acrylonitrile Butadiene Styrene are the rapidly growing construction activities, increasing urbanization and industrialization around the world, wherein the demand for the product is continuously increasing. Apart from these, increasing standards of living and disposable income of people, especially in developing countries incentivizing them to invest more in the high-end construction and decorative home activities. This is anticipated to boost the demand for the Acrylonitrile Butadiene Styrene during the years to follow. The changing lifestyle of people in the world is reflecting their consumer patterns, which can be observed with increasing demand for the household appliances and other electronic equipment. According to Statista, the global electronics industry is expected to grow at a healthy CAGR of around 5% during 2016-2018 and is also estimated to retain the same growth trajectory owing to the increasing global demand, especially from the Asia Pacific.

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Acrylonitrile Butadiene Styrene MARKET 2018

Market Segmentation: The global acrylonitrile butadiene styrene market has been segmented on the basis of application, and region.

Based on the application, the global acrylonitrile butadiene styrene market is categorized into, electrical & electronics, automotive, building & construction, consumer goods, sports equipment, musical instruments, and others. Among these applications, the appliances application segment is estimated to dominate the market and is projected to reach a double digit USD billion figure by the end of 2023. As of 2016, the appliances segment held over 30% share of the market. This is attributed to changing lifestyle of the people, which demands more luxury and expedite process. The major appliances include in this segment are primarily belongs to the household applications such as dryer, microwave oven, television sets, and washing machines. Increasing disposable income and rising standard of the living of the people in emerging economies is one of the prominent factors driving growth of this segment in the global acrylonitrile butadiene styrene market.

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Acrylonitrile Butadiene Styrene MARKET 2018 Regional Analysis The global Acrylonitrile Butadiene Styrene Market is spanned across North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. The Asia Pacific is estimated to dominate the Market due to the considerable growth in the automotive and building & construction industry.

The major contributors to the Market in this region are South Korea, China, India, and Japan. This is attributed to rapidly increasing government and private investment in infrastructural development. After the Asia Pacific, North America is the second most substantial region in the global Acrylonitrile Butadiene Styrene Market.

The U.S. is the major Market in this region on account of the presence of well-established end-use industries such as automotive and sports. Europe is following North America, in terms of the Market size, in the global Acrylonitrile Butadiene Styrene Market. The regional Market is dominated by the U.K, Germany, France, and Italy.

The Aerospace and automotive industries in Europe are the responsible for the major consumption of Acrylonitrile Butadiene Styrene in this region. This is expected to drive demand for the product in this regional Market.

Latin America has been observed to witness a steady growth of end-user industries in countries namely Brazil, Venezuela, and Argentina, after the recent economic and political turmoil. In coming years there is a huge growth opportunity for construction and sports industry in the Middle East & Africa, which is likely to help boost the growth of the regional Market.

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Acrylonitrile Butadiene Styrene MARKET 2018 Major Players in this Research: The prominent players in the global Acrylonitrile Butadiene Styrene Market are LG Chem.

(South Korea), INEOS Styrolution (Germany), Trinseo (U.S.), KUMHO PETROCHEMICA (South Korea), Formosa Chemicals & Fibre Corp. (Taiwan), SABIC (Saudi Arabia), BASF SE (Germany), TORAY INDUSTRIES INC. (Japan), Mitsui Chemicals, Inc. (Japan), Ravago Americas (U.S.), and others.

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