Press release
ABS Market 2024 kay players Chi Mei, LG Chemicals, Styron, Kumho Petrochemical, INEOS Styrolution, Asahi Kasei, Sabic, China Petroleum and Chemical, Formosa plastic, Elix Polymers, BASF
Acrylonitrile Butadiene Styrene (ABS) Market
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Stringent government regulations regarding reduction in automobile weight and carbon emissions are the key factors enhancing the acrylonitrile butadiene styrene market growth. Increasing ABS imports particularly in China due to its growing demand from electrical & electronics products, industrial, and household appliances will propel the industry growth.
Technological advancement and product innovation in the manufacturing industries has enhanced the product development. Trade growth in terms of industrial output, capital investment, imports and exports owing to rise in customer consumption will open new opportunities for the industry growth.
Growth in the global home appliances industry across the world due to its rising demand will generate profitable avenues for the product scope. High design flexibility & strength, enhanced visual look, low material wastage and low material costs are key properties enhancing the product development. However, emergence of sustainable products can replace ABS based resins in the coming future.
Automotive acrylonitrile butadiene styrene market is estimated to witness gains over 4% up to 2024. Increased product usage in locomotive parts including steering covers, body panels, tires and bumpers has positively influenced the industry growth.
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The U.S. acrylonitrile butadiene styrene market was worth exceeding USD 3 billion by 2024. Growth in consumer goods industry due to development of innovative products and changing lifestyles will propel the product demand. Increasing automotive sales in this region is will fuel the acrylonitrile butadiene styrene market.
Europe acrylonitrile butadiene styrene market, dominated by Germany, France, UK and Russia is the major hub for automobile industry with availability of advanced innovations and improved performance of automobiles. High product usage in car interior as well as exterior is likely to be beneficial for the acrylonitrile butadiene styrene market growth.
Global acrylonitrile butadiene styrene market share is consolidated with the presence of few international manufacturers. Some of the key players are Chi Mei corporation, LG Chemicals, Formosa Plastic Company, Kumho Petrochemical, Dow Chemical Company, SABIC, Asahi Kasei and Styron.
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