Press release
ABS Market 2024 key Players Chi Mei, LG Chemicals, Styron, Kumho Petrochemical, INEOS Styrolution, Asahi Kasei, Sabic, BASF, Toray, Ampa, Rochling, Dow Chemicals, Polyone and Mitsui Chemicals
ABS Market
Key business growth strategies such as mergers & acquisitions, joint ventures, and product innovations are expected to strongly leverage ABS market development. For instance, INEOS Styrolution, a world leader in the styrenics sector, completed the purchase of K-Resin ® SBC business from Daelim and Chevron Phillips Chemical earlier this year after receiving all the necessary approvals from the regulatory authorities. This acquisition deal will help the firm focus on raising the production of specialty styrenics products across the globe as per the consumer requirements and thus enhance its global presence. Business players make strategic collaborations or partnerships for developing high quality products with the help of technical knowhow, positively impacting the market trends.
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Favorable product features such as high durability, lightweight, heat resistance, design flexibility, and corrosion & chemical resistance will create a profitable roadmap for Acrylonitrile Butadiene Styrene (ABS) market. High product preference can be attributed to its fabrication ease and cost-effective nature as compared to other products. Low steel utilization across the manufacturing business, subject to the rising need for improving the visual appearance as well as aesthetic value of the manufactured items will benefit Acrylonitrile Butadiene Styrene (ABS) industry.
Considering the topographical trends, U.S. ABS market is anticipated to surpass a targeted revenue margin of USD 3 billion by 2024, owing to escalated product popularity across automotive and consumer goods sectors. Asia Pacific industry, which accounted for more than 68% of the global ABS industry share in 2015, is projected to observe a huge surge over the next few years. High product demand for household appliances and construction sectors will boost the profit. The construction sector in APAC, worth USD 1550 billion in 2015, is slated to grow at a rate of 5% over 2016-2024. India and China are likely to be major regional revenue contributors.
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Consumer goods, electrical & electronics, construction, automotive, and appliances are the key sectors across which Acrylonitrile Butadiene Styrene is widely used. ABS industry size in electrical & electronics sector is expected to grow at a CAGR of more than 3.5% over 2016-2024, driven by wide product use in televisions, computers, printers, computer accessories, and business machines as a result of its electrical insulating and corrosion & heat resisting properties.
ABS market share in the construction sector is projected to experience a lucrative growth over the coming years, driven by high product utilization in fittings, plastic sheets, and pipes. High spending on the construction activities due to rise in the disposable income of the consumers along with government support for improving the infrastructure facility will further steer the income.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Chi Mei Corporation
2. LG Chemicals
3. INEOS Styrolution
4. Kumho Petrochemical Company
5. Formosa Plastic Company
6. Styron
7. Asahi Kasei
8. Sabic
9. China Petroleum & Chemical Corporation
10. Elix Polymers
11. BASF
12. Rochling
13. Toray
14. Ampa Group
15. Dow Chemicals
16. Ravago Manufacturing Americas, LLC
17. Polyone
18. Entec Polymers LLC
19. RTP Engineering Plastics
20. Bayer AG
21. Techno Polymer Co., Ltd.
22. Mitsui chemicals Inc
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