Acrylonitrile Butadiene Styrene (ABS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Acrylonitrile Butadiene Styrene (ABS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
Acrylonitrile butadiene styrene (ABS) is an amorphous polymer and opaque thermoplastic which is derived from three distinct monomers and polymerized through the process of emulsion. They are commonly used to make light, rigid, and molded products including pipes, automotive components, machine components, enclosures, wheel covers, and protective head gear. Due to high resistance to corrosive chemicals and physical impact, acrylonitrile butadiene styrene is gaining increasing demand in a wide range of industrial applications. Further, ABS finds application in injection molding manufacturing processes or 3D printing, owing to its low melting point which makes it easy to use in such processes. These are the key factors driving the development of acrylonitrile butadiene styrene (ABS) market.
Acrylonitrile Butadiene Styrene (ABS) Market – Notable Developments
- In October 2018, ELIX Polymers, manufacturer of acrylonitrile butadiene styrene (ABS) resins and derivatives, launched a new line of ABS products for consumer sectors with special requirements on safety of use, under the brand name Chemical Compliance (CC).
- In August 2018, INEOS Styrolution announced its signed agreement with Total S.A. for two production sites of polystyrene (PS) in China; it represents the company’s first manufacturing assets in China.
- In May 2018, Tokyo-based JSR Corporation, a leading player of acrylonitrile butadiene styrene (ABS) market, entered into partnership with Oxford Performance Materials, Inc. (OPM) to advance OPM’s technology platform including 3D printed orthopedic devices and biomedical & dental materials throughout Asia.
- In March 2018, Gigaset, manufacture of cordless phone announced to use ELIX Polymers’ ELIX M201AS for the housing of several components in its new Smart Home Alarm System.
Some of the most prominent competitors operating in the competitive landscape of global acrylonitrile butadiene styrene (ABS) market include –
- DuPont
- Styron
- INEOS Styrolution
- Formosa Plastics
- Asahi Kasei
- BASF SE
- Styron
- SABIC
- Chi Mei Corporation
- LG Chemicals
- KKPC
- Covestro
- Kumho Petrochemical Co., Ltd.
- Saudi Basic Industries Corporation
- ELIX Polymers
- China Petroleum and Chemical
- Toray
- Rochling
Acrylonitrile Butadiene Styrene (ABS) Market Dynamics
Acrylonitrile butadiene styrene is widely used to produce a range of automotive components such as seating, interior trim, center consoles, bumper, dashboard, headliners, lighting, and others. Growth in automotive industry across the globe along with rising importance of lightweight automobile parts to limit the rate of carbon dioxide emissions is anticipated to be highly impactful on the growth of acrylonitrile butadiene styrene (ABS) market. Moreover, adoption of lightweight component in automobiles has been linked to a number of advantages which is further likely to boost global expansion of the market in the coming years. Increasing purchases of motorbikes, passenger cars, and public transport vehicles will continue to create potential growth prospects of the acrylonitrile butadiene styrene (ABS) market.
Apart from the automotive industry, ABS gains significant adoption in the manufacturing of construction instruments, industry goods, and various equipment which require to achieve lightweight and high tensile strength. Surging demand for acrylonitrile butadiene styrene (ABS) can be attributed to its more durability and better corrosion resistance than conventional products such as PVC. In construction sector, ABS is substantially used in the manufacturing of pipes, vacuum pumps, fitting instruments, and even in the large equipment for the storage of waste materials. Widening application base in various industries is projected to bode well with the growth of acrylonitrile butadiene styrene (ABS) market.
Market Restrainers
Although the acrylonitrile butadiene styrene (ABS) market is foreseen to maintain a positive outlook in the coming years, emergence of better alternate products increasing demand for the styrene butadiene rubber (SBR) may create a hindrance in the market growth. It provides high-abrasion resistance, leading to surge in its demand in the manufacturing of tires in the automotive industry which will possibly hamper the growth of acrylonitrile butadiene styrene (ABS) market.
Acrylonitrile Butadiene Styrene (ABS) Market Segmentation
Based on application, the acrylonitrile butadiene styrene (ABS) market can be segmented into:
- Automotive
- Construction
- Appliances
- Electrical and Electronics
- Consumer Goods
- Others
This study provides a particularized anatomy according to the L.E.A.P mechanism
- Latest trends and cardinal growth prospects
- Existing and future insights in growth
- Ascensions in technology
- Pain points
The regional analysis offers market assays across:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
Pain Points
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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