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What are the factors contributing in Acrylonitrile Butadiene Styrene Market growth? Mitsui Chemicals Group, Sabic, BASF, LG Chem, INEOS Styrolution, Polyone, Toray Industries, Inc.
Acrylonitrile Butadiene Styrene (ABS) Market
Asia Pacific accounted for around 68% of the overall industry share in 2016 owing to increase in disposable income and middle-class population. Presence of major manufacturing companies and growth in automotive industry are the main factors driving the industry demand.
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Potential applications in construction, electrical & electronics and home appliances will propel the acrylonitrile butadiene styrene market growth. Superior properties including fire retardation, high strength, lightweight and better surface appearance will further enhance the industry share.
Increasing overall construction expenditure coupled with rising government spending on infrastructure development will fuel the acrylonitrile butadiene styrene market. Moreover, expansion in the global automotive industry is the key factor enhancing the product penetration.
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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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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Electrical & electronics industry will witness CAGR over 3.5% up to 2024. Increasing customer purchasing power and changing lifestyles are the key factors fueling business growth. Growing demand for corrosion and temperature resistant materials in computer accessories, electronic devices, and business machine will support the product penetration.
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.
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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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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