The Acrylonitrile Butadiene Styrene Market is valued at USD 28.07 Billion in 2021 and is expected to reach USD 44.81 Billion by 2028 with a CAGR of 6.91% over the forecast period.
Global Acrylonitrile Butadiene Styrene Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Factors such as increasing growth of automotive industry, adoption of ABS in the automotive sector, various advantages of ABS in transportation, construction, electronics, and other industries are some of the major factors driving the market growth.
ABS or Acrylonitrile Butadiene Styrene is a common opaque thermoplastic polymer widely used in electronic housing, auto parts, consumer products, pipe fittings, Lego bricks, toys, and others. ABS is an impact-resistant engineering thermoplastic and amorphous polymer of acrylonitrile, butadiene & styrene. Acronytrile is a synthetic monomer and contributes to ABS chemical resistance and heat stability. Butadiene delivers toughness and impact strength to ABS polymer. Styrene provides rigidity and processability to ABS plastic. This engineering plastic is popular because of its low production cost and ease with which material with machined by plastic manufacturers. It has unique features such as structural strength and stiffness, chemical resistance, excellent high and low performance, electrical insulation properties, dimensional stability, tensile strength, surface hardness, and electrical characteristics.
ABS falls between standard resins such as PVC, polyethylene, polystyrene and engineering resins like acrylic, nylon and often meets satisfactory engineering properties at a reasonable cost. It offers greater impact properties and high heat distortion temperature. As ABS is amorphous, therefore it has no true melting point. The ABS market is witnessing its growing demand in the electronics industry, where it is used in business machines, computers, radios, televisions telephone handsets, and in the automobile sector, it is used in instrument panels, consoles, radiator grills and interior trim parts with growing use in recreational vehicles.
Coronavirus pandemic is causing disruption and economic hardship around the globe. Covid-19 has shown a declining impact on the growth of the global acrylonitrile butadiene styrene market as ABS is used as a raw material in various industries such as automotive, plastic, construction, and others and all theses industries have shown a declining growth in the Covid-19 which has also affected the demand for Acrylonitrile Butadiene Styrene.
The regions covered in this global acrylonitrile butadiene styrene market report are North America, Europe, Asia-Pacific, and the Rest of the World. On the basis of country level, the market of global healthcare analytics is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
The major key players of global acrylonitrile butadiene styrene market are -
The global acrylonitrile butadiene styrene market is segmented on the basis of application and regional and country level. On the basis of application global acrylonitrile market is classified into automotive, consumer goods, appliances, construction, electronics and others.
The increasing growth of the automotive industry and the growing adoption of ABS in automotive industries are propelling the growth of the global market. For example; as per the European Automobile Manufacturers’ Association, or ACEA, after a year that saw the sharpest drop ever in EU car sales due to the COVID-19 pandemic, the European Automobile Manufacturers’ Association (ACEA) forecasts that 2021 will mark the first step on the path to recovery. It estimates that the sales will rise by about 10% compared to 2020. As polymers like ABS are lightweight and have relatively better properties. Global plastic penetration is 120kg/vehicle, So a wide variety of plastic is used in vehicles.
In addition, the growing adoption of ABS is also supplementing the market growth. ABS is the preferred engineering plastic when it comes to dealing with automotive applications. There has been an increasing focus on weight reduction in automotive. Being a great substitute for metals, ABS has been extensively used in manufacturing automotive parts. The basic function of these widely used high-performance plastic materials in vehicles is to detect automobiles their functionality, economy, and low fuel consumption. Therefore, due to the rising demand for polymers like ABS in automotive industries many key players are investing in ABS plants to fulfill the growing demands. For example; in 2020, Ineos Stryrolution announced plans to build a world-scale ABS plant in Ningbo, China.
As ABS is made up of different monomers so it has combined properties such as being hard, rigid, tough ductile & it can be precisely manufactured in injection molding which is a requirement for the way bricks of brands such as Lego fit together. Thus, the demand for ABS in Lego manufacturing is also rising. Furthermore, increasing use of ABS in the fabrication industry, 3D printing, or injection molding process is also supplementing the growth of the market. However, the presence of other substitutes may hinder the growth of the market. In spite of that, emerging applications of ABS in various industries can consequently offer more opportunities for the further growth of the market.
The global acrylonitrile butadiene styrene market is segmented into North America, Europe, Asia- Pacific Latin America, and Middle East & Africa. North America is expected to dominate the market within the forecast period attributed to increasing vehicle production and high investment in research and development in this region. As in mass-produced vehicles, many plastic parts are made up of ABS and have properties like injection molded from resins. ABS is one of the most common materials which is used to manufacture automotive covers, shrouds, and housing. In addition, the growing adoption of ABS in 3D printing is also enhancing the growth of the market. Thus, the key players in North America are focusing on using ABS in the manufacturing of 3d printers. For example; in May 2020, Bigrep launched ABS material for large format 3d printing. Europe is projected to capture the second-largest share of global acrylonitrile butadiene styrene market due to the increased production of electric vehicles in this region.
Asia Pacific is also expected to witness the fastest growth in the global acrylonitrile butadiene styrene due to the increasing adoption of ABS in the automotive industry and construction industry in this region. As ABS has various physical properties such as rigidity, tensile strength, toughness that are beneficial in the production of vehicles, so there is increased production of vehicles is anticipated to propel the growth of the market into the region.
On March 3rd, 2021, ELIX polymers developed special medical pre-colored materials M203FC or M205FC which is ABS formulations based on existing biocompatibility. It is used to maximize laser marking results on medical devices and to ensure full compliance with regulations. ABS (Acrylonitrile Butadiene Styrene) polymers are materials that are widely used to produce external enclosures, covers or shells for reusable devices also it is a laser markable material where correct laser settings adapted. For these reasons ELIX polymers has evolved special medical ABS formulations based on M203FC and M205FC materials that enhance laser marking to achieve a specific color change. As ABS and its color are both essential factors for getting the required laser marking effect, and main aim of this type of development is to create a database selection of available pigments with highest performance under different laser system.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 28.07 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 44.81 Billion|
|Tables, Charts & Figures:||175|
|Acrylonitrile Butadiene Styrene Manufacturers||LG Chemicals, Asahi Kasei, Chi Mei Corporation, Formosa Plastics, KKPC, SABIC, Styron, Styrolution, BASF SE, and DuPont, INEOS Styrolution, Trinseo, Formosa Chemicals & Fibre Corp., SABIC, BASF SE, TORAY INDUSTRIES INC., Mitsui Chemicals, Inc., Ravago Americas, 3M, KUMHO PETROCHEMICAL, others.|
|Segments Covered||By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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