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Acrylonitrile Butadiene Styrene Market Growth Analysis 2024 By Top Key Players - Polyone, INEOS Styrolution, Mitsui Chemicals Group, Sabic, BASF, LG Chem, Toray Industries, Inc., Bayer
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.
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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.
- Acrylonitrile Butadiene Styrene Market, By Application
• Appliances
• Electrical & Electronics
• Automotive
• Consumer Goods
• Construction
• Others
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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.
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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.
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