Global Acrylonitrile Butadiene Styrene Market.
The global Acrylonitrile Butadiene Styrene market was valued at USD 803.12 million in 2021 which expected to reach USD 1023.23 million by 2027 at a CAGR 3.52% from 2022-2027.
ABS (Acrylonitrile Butadiene Styrene) is a rigid thermoplastic polymer with properties such as flexibility, temperature resistance, and good appearance. These materials are widely used in the electronic appliance and automotive industries, where they are used to manufacture vehicles and auto parts. ABS is also used in the construction industry, the electronics industry, consumer goods, and the manufacture of household appliances. ABS polymer is in high demand due to the high demand for plastics from the aforementioned end-use industries.
Market Drivers
Increasing Demand for Lightweight Vehicles Will Aid Market Growth
The growing consumer demand for lightweight vehicles has resulted in automotive industry innovation, which is propelling the ABS market forward. The rapid growth of the world's population has contributed to an increase in demand for fuel-efficient automobiles. These materials are used in a variety of automotive applications, including bumpers, exterior panels, dashboards, and others. ABS's highly advantageous properties make it ideal for use in the manufacture of lightweight vehicles, resulting in high demand and propelling the market.
Market Restraint
Substitute competition may limit market growth. Acrylonitrile butadiene styrene has seen a significant increase in demand from a variety of end-use sectors. This, however, has resulted in the development and introduction of market substitutes. These substitutes include styrene-butadiene rubber (SBR), which acts as a market restraint. SBR has rubber properties such as high abrasion resistance, which are essential for tyre manufacturing and other vehicle parts. According to the United Nations Environment Programme (UNEP), 79% of plastic waste is dumped into the environment, resulting in widespread plastic pollution. Government regulations governing environmental protection and the use of nonrenewable resources further impede the market supply chain, limiting its growth.
Market Segmentation
The Global Acrylonitrile Butadiene Styrene Market is segmented into Type, Application. By Type such as Opaque, Transparent, Colored. Further, market is segmented into By Application such as Appliances, Electrical and Electronics, Automotive, Consumer Goods, Construction, Others
Covid-19 Impact
The coronavirus pandemic has had a significant impact on the plastics industry, causing a temporary halt in manufacturing and other trade activities. The halt in manufacturing caused by the pandemic has further weakened economies due to lower demand from consumers and various end-use industries, resulting in unprecedented disruptions in the plastics supply chain. Lockdowns in several major economies have also had a significant impact on the trading and distribution activities of several manufacturing firms, affecting raw material and finished goods pricing.
Regional Analysis
Global Acrylonitrile Butadiene Styrene Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific dominated the Acrylonitrile Butadiene Styrene market. China led the market in terms of both volume and revenue in 2021, owing to increased construction activity as a result of increased cash flow and rising government investment in large infrastructure projects. The aforementioned factors are expected to drive ABS demand over the forecast period.
Furthermore, China's automobile industry is the world's largest in terms of unit vehicle volume produced. Despite the recession, the country's output increased. The government's increased per capita income has increased demand for automobiles in the domestic market. The increase in automobile production is expected to boost ABS demand over the forecast period.
North America accounted for the second-largest revenue share in 2021, owing to increased vehicle production in the region. Because of increased vehicle production and the presence of numerous major market players, Mexico's automotive industry is expected to grow significantly.
Key Players
Various key players are listed in this report such as LG Chemicals; Asahi Kasei; Chi Mei Corporation; Formosa Plastics; KKPC; SABIC; Styron; Styrolution; BASF SE; DuPont
Market Taxonomy
By Type
By Application
By Region
Key Questions Addressed by the Report
Global Acrylonitrile Butadiene Styrene Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Acrylonitrile Butadiene Styrene Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Acrylonitrile Butadiene Styrene Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Acrylonitrile Butadiene Styrene Market Share Analysis, By Type
5.3 Global Acrylonitrile Butadiene Styrene Market Size and Forecast, By Type
5.3.1 Opaque
5.3.2 Transparent
5.3.3 Colored
6 Global Acrylonitrile Butadiene Styrene Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Acrylonitrile Butadiene Styrene Market Share Analysis, By Application
6.3 Global Acrylonitrile Butadiene Styrene Market Size and Forecast, By Application
6.3. 1 Appliances
6.3.2 Electrical and Electronics
6.3.3 Automotive
6.3.4 Consumer Goods
6.3.5 Construction
6.3.6 Others
7 Global Acrylonitrile Butadiene Styrene Market, By Region
7.1 Global Acrylonitrile Butadiene Styrene Market Share Analysis, By Region
7.2 Global Acrylonitrile Butadiene Styrene Market Share Analysis, By Region
7.3 Global Acrylonitrile Butadiene Styrene Market Size and Forecast, By Region
8 North America Acrylonitrile Butadiene Styrene Market Analysis and Forecast (2021-2027)
8.1 Introduction
8.2 North America Acrylonitrile Butadiene Styrene Market Share Analysis, By Type
8.3 North America Acrylonitrile Butadiene Styrene Market Size and Forecast, By Application
8.4 North America Acrylonitrile Butadiene Styrene Market Size and Forecast, By Country
8.5.1 U.S.
8.6.2 Canada
9.7.3 Mexico
9 Europe Acrylonitrile Butadiene Styrene Market Analysis and Forecast (2021-2027)
9.1 Introduction
9.2 Europe Acrylonitrile Butadiene Styrene Market Share Analysis, By Type
9.3 Europe Acrylonitrile Butadiene Styrene Market Size and Forecast, By Application
9.4 Europe Acrylonitrile Butadiene Styrene Market Size and Forecast, By Country
9.5.1 Germany
9.6.2 France
9.7.3 UK
9.8.4. Rest of Europe
10 Asia Pacific Acrylonitrile Butadiene Styrene Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 Asia Pacific Acrylonitrile Butadiene Styrene Market Share Analysis, By Type
10.3 Asia Pacific Acrylonitrile Butadiene Styrene Market Size and Forecast, By Application
10.4 Asia Pacific Acrylonitrile Butadiene Styrene Market Size and Forecast, By Country
10.5.1 China
10.6.2 Japan
10.7.3 India
10.8.4. Rest of Asia Pacific
11 Latin America Acrylonitrile Butadiene Styrene Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Latin America Acrylonitrile Butadiene Styrene Market Share Analysis, By Type
11.3 Latin America Acrylonitrile Butadiene Styrene Market Size and Forecast, By Application
11.4 Latin America Acrylonitrile Butadiene Styrene Market Size and Forecast, Country
11.5.1. Brazil
11.6.2. Rest of Latin America
12 Middle East Acrylonitrile Butadiene Styrene Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Middle East Acrylonitrile Butadiene Styrene Market Share Analysis, By Type
12.3 Middle East Acrylonitrile Butadiene Styrene Market Size and Forecast, By Application
12.4 Middle East Acrylonitrile Butadiene Styrene Market Size and Forecast, By Country
12.5.1. Saudi Arabia
12.6.2. UAE
12.7.3. Egypt
12.8.4. Kuwait
12.9.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14Company Profiles
14.1 LG Chemicals
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2. Asahi Kasei
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3. Chi Mei Corporation
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Formosa Plastics
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 KKPC
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 SABIC
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Styron
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Styrolution
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 BASF SE
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 BASF SE
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies
