Acrylonitrile Butadiene Styrene Market: Global Industry Analysis And Forecast (2023-2029)

Acrylonitrile Butadiene Styrene Market is expected to reach US $ 53.78 Bn, thanks to growth in the construction segment. The report analyses market dynamics by Ingredient Type, Application industry & region.
Acrylonitrile Butadiene Styrene Market Overview:
The ABS market size was valued at USD 33.27 Bn. in 2022 & it is expected to see a CAGR of 7.1% during the forecast period. Seeing the trivial properties of Acrylonitrile Butadiene Styrene, which helps in great fuel efficiency, demand for the same is expected to rise in the automotive industry. The automotive industry has been facing a major modification over the years & there is a growing trend towards the decrease of automobile weight in order to recover fuel efficiency. A projected 10.0 percent decrease in weight results in about 5 percent to 7 percent fuel saving in an automobile. In adding, the reduced weight assistances control Carbon dioxide emission over the life cycle of the vehicle.To know about the Research Methodology :- Request Free Sample Report
Automotive Industry:
After the coronavirus outbreak in the year 2022, which already saw a noticeable decline of nearly 5 percent in world auto manufacturing & which ended ten years of progress, the global auto industry tackled a new, unparalleled challenge in the year 2022 owing to the coronavirus pandemic. With closures of a big part of the auto industry & its many dealers around the world over some weeks, 2022 noticeable the worst disaster ever to influence the automotive industry, a main segment of the world economy. The composed statistics display a 16 percent drop of the 2022 procurement, to less than 78 Mn vehicles, which is equal to 2010’s sales stages.

Europe saw a droplet of more than 21 percent on average. All main creating nations had sharp drops, reaching from 11 percent to almost 40 percent. Europe signified an almost 22 percent share of the total production. In America, the 2022 manufacturing of 15, 7 Mn units signified a 20 percent share of the total procurement. The NAFTA area saw procurement decreasing by more than 20 percent, with United States manufacturing decreasing by 19 percent. South America decreased by more than 30 percent, with Brazil down by nearly 32 percent.

The African region also dropped abruptly, by more than 35 percent. Meanwhile, APAC repelled sensibly well, with a decline of only 10 percent. In specific, China, which was hit hard at the beginning of 2022, improved very fast; all in all, the Chinese reduction in procurement has been restricted to only 2 percent. APAC rests by far the world’s major manufacturing region, with a 57 percent share of total manufacturing.

Acrylonitrile Butadiene Styrene is used to produce different automotive modules with bumper, seating, dashboard, & lighting. Acrylonitrile Butadiene Styrene accounts for almost 12.5 percent of the global automotive plastics used in a passenger cars. So, the increasing automotive industry is expected to push market development during the forecast period.

Growing consciousness about the intrinsic relation between mass & fuel economy is projected to rise the usage of Acrylonitrile Butadiene Styrene in automobiles. The flourishing automotive industry in developing thrifts of the world, like China, India, & Brazil, is expected to enhance industry development during the forecast period. Growing the usage of SBR is likely to hamper market development during the forecast period. It is used to manufacture tires in the automotive sector & the high abrasion fight offered by SBR is responsible for increasing demand in numerous end-use sectors.
Application Overview:
The total automotive sector has been rising rapidly. The industry recorded global revenues of 95.0 Mn vehicles in the year 2022, 4.6 percent up from the last year. Influences like increasing income levels throughout the globe, quick development, rising demand for EVs, & consistent developments in technology are estimated to push demand during the forecast period. The automotive sector accounted for a revenue share of 16.5 percent in the year 2017 & it is expected to see the fastest CAGR during the forecast period due to growing usage in the automotive sector. Increasing automotive production, mostly in China, Indonesia, Mexico, United States, Germany, & Taiwan, is a key driver of market development.

The construction sector accounted for a sale share of 13.3 percent in the global ABS market in the year 2017. ABS is a better option associated with all other plastics in the construction sector & it is extensively used in pipes & fittings & vacuum portions. It is lightweight & stress-free to install. The global construction sector is estimated to raise at 4.5 percent during the forecast period.

The electrical & electronics sector contains a diversity of items, ranging from customer electronic items to medical equipment. The global customer electronics sector is expected to exhibit a CAGR of 13.4 percent from 2017 to 2018, which in turn, is expected to push the demand for the item during the forecast period.
Regional Overview
APAC is estimated to see a rise in construction expenditure during the forecast period on account of fast development joint with a rise in the populace in the area. The market in China & India is anticipated to display extensive development in the construction segment as a result of growing disposable income & increasing government outlay on large infrastructural plans. These influences are projected to push the demand for Acrylonitrile Butadiene Styrene during the forecast period.

North America accounted for a sales share of 10.7 percent in the year 2022 due to growing vehicle manufacturing in the region. Mexico is anticipated to see significant development in the automotive sector in light of growing vehicle production & the occurrence of many key market players. The automotive sector in the region is expected to see significant development in vehicle manufacturing & export during the forecast period. Firms with Nissan, Honda, & Mazda have recognized their manufacturing services in the nation’s central region to production different automobile models at great volumes.
Market Dynamics:
Drivers:
The emerging utilization of ABS Market Trends in devices, development, & auto ancillaries, as of its trivial & high strength, will be responsible for the positive out looked shown by the market during the forecast period. Also, one of the main clarifications for the sped-up interest in trivial car materials is the concern over increasing CO2 releases. According to the MMR report study, the ozone-damaging substance discharges are expected to reach 3.1 MG tons constantly in the year 2021. This influence is destined to increase the interest for lightweight shares inside the car sector.

The objective of the report is to present a comprehensive analysis of the global market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global market dynamics, structure by analyzing the market segments and project the global market size. Clear representation of competitive analysis of key players by Ingredient, price, financial position, Ingredient portfolio, growth strategies, and regional presence in the global market makes the report investor's guide.
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Global Acrylonitrile Butadiene Styrene Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 33.27Bn.


Forecast Period 2023 to 2029 CAGR:
7.1%
Market Size in 2029:
US $ 53.78 Bn.


 Segments Covered:
by Application
Appliances
Automotive
Consumer Goods
Construction



Acrylonitrile Butadiene Styrene Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Acrylonitrile Butadiene Styrene Market Key Players
1.TORAY INDUSTRIES INC. (Japan)
2.KUMHO PETROCHEMICAL (South Korea)
3.Ravago Americas (U.S.)
4.SABIC (Saudi Arabia)
5.Trinseo (U.S.)
6.BASF SE (Germany)
7.INEOS Styrolution (Germany)
8.Formosa Chemicals & Fibre Corp. (Taiwan)
9.LG Chem. (South Korea)
10.Mitsui Chemicals Inc. (Japan)
Frequently Asked Questions:
1) What was the market size of Acrylonitrile Butadiene Styrene Market in 2022?
Ans - India Lighting Market was worth US$ 33.27 Bn in 2022.

2) What is the market segment of Acrylonitrile Butadiene Styrene Market?
Ans -The market segments are based on Application & Region.

3) What is forecast period consider for Acrylonitrile Butadiene Styrene Market?
Ans -The forecast period for Acrylonitrile Butadiene Styrene market is 2023 to 2029.

4. Which are the worldwide major key players covered for the Acrylonitrile Butadiene Styrene Market report?
Ans. Diversey IncTORAY INDUSTRIES INC. (Japan),KUMHO PETROCHEMICAL (South Korea),Ravago Americas (U.S.),SABIC (Saudi Arabia),Trinseo (U.S.),BASF SE (Germany) INEOS Styrolution (Germany),Formosa Chemicals & Fibre Corp. (Taiwan), LG Chem. (South Korea),Mitsui Chemicals Inc. (Japan).