Press release
ABS Market 2018-2024 | key players Chi Mei, LG Chemicals, Styron, Kumho Petrochemical, INEOS Styrolution, Asahi Kasei, Sabic, BASF, Toray, Ampa, Rochling, Dow Chemicals, Polyone and Mitsui Chemicals
Acrylonitrile Butadiene Styrene (ABS) Market
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Acrylonitrile Butadiene Styrene (ABS) Market will be worth over USD 38 billion by 2024; according to a new research report by Global Market Insights, Inc. Stringent government norms to lower carbon emission and to surge fuel efficiency will propel the industry growth. EU and North America regulations include vehicle weight reduction up to 440 kg with 40 gram CO2 drop. Rising application scope in appliances, electrical & electronics and construction industry will fuel the industry growth. Appliances contributed over 31% of the industry share in 2015. Inclination towards product with superior surface appearance and fire retardant properties has enhanced business development in this segment.
Expansion in the home appliances industry globally owing to its rising demand will create lucrative avenues for the acrylonitrile butadiene styrene market growth. High design flexibility, low material wastage, high strength, enhanced visual look and relatively lesser material costs are the significant properties enhancing product penetration. Rise in construction spending coupled with increasing government initiatives on infrastructure development will drive the industry growth. Shifting focus towards lightweight, superior strength and fire retardant materials by the construction professionals will surge acrylonitrile butadiene styrene market growth in this segment.
Product innovation accompanied by technological advancement in manufacturing techniques will encourage product penetration. Trade expansion in terms of exports, imports, capital investment, industrial output due to increased consumer consumption will open more opportunities the coming years. Variable raw material prices due to political unrest will affect acrylonitrile butadiene styrene market price trend. The companies are focused towards collaboration, partnership for product development & technical expertise to compensate increasing raw material prices and gain maximum profitability.
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Automotive acrylonitrile butadiene styrene market from automotive is estimated to witness growth at 4% by 2024. Extensive product usage in automotive parts including bumpers, body panels, steering covers and tires has positively influenced the product demand. Acrylonitrile butadiene styrene market from electrical & electronics will observe CAGR over 3.5% up to 2024. Changing lifestyle and increasing consumer purchasing power are the major factors fueling the industry growth. Rising demand for temperature and corrosion resistant materials in computers, computer accessories, business machine and electronic devices will support the product penetration.
U.S. ABS market is set to register more than USD 3 billion revenue by 2024. Growing consumer goods industry owing to emergence of innovative products and changing lifestyles. Increasing automotive sales in the region is expected to fuel the industry growth. Asia Pacific acrylonitrile butadiene styrene market accounted for over 68% of the industry share in 2015. Rising demand for home appliances and consumer goods, owing to shifting demographic and income trends will trigger the demand
Germany acrylonitrile butadiene styrene market from appliances is estimated to surpass USD 225 million by 2024. Increasing product consumption in fax machines, refrigerators door liners, washing machine, air conditioner, vacuum cleaner, and kitchen appliances will stimulate industry growth. Moreover, high-impact resistance, heat and chemical resistance properties will enhance the product scope.
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Global acrylonitrile butadiene styrene market share is highly consolidated. The major four industry players account for more than 60 % of the industry share. LG Chemicals and Chi Mei corporation are the dominating companies holding a major share in the global production. Production capacity expansions, acquisitions and ventures are the major strategies adopted by the industry players. Formosa Plastic Company, Styrolution, Asahi Kasei, Kumho Petrochemical, Sabic and Styron are the other key players of acrylonitrile butadiene styrene market.
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
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com
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