Acrylonitrile Butadiene Styrene (ABS) Market 2021 has Huge Growth in Industry | LG Chemicals, Asahi Kasei, Chi Mei Corporation, etc.

Market Size – USD 28.54 Billion in 2020, Market Growth - CAGR of 6.5%, Market Trends – Increase in infrastructure development activities in developing countries

The global Acrylonitrile Butadiene Styrene (ABS) Market is expected to reach USD 46.95 Billion by 2028, according to a new report by Reports and Data. Acrylonitrile butadiene styrene is a sturdy engineering thermoplastic and amorphous polymer that is used in the production of lightweight, rigid, and molded products which are used in a diverse range of end-use applications.

Increasing use of acrylonitrile butadiene styrene is estimated to simulate market demand in the upcoming years owing to its high luster and easy formability. Acrylonitrile butadiene styrene finds application in TVs, TV/OA housings, monitor housings, VCRs, fax machines, printers, vacuum cleaners, digital cameras, camcorders, computers, CD-ROM bezels, microwave ovens, adapters, sheet for refrigerators, and briefcases, among others. This engineering plastic is also used in the production of kitchen utensils.

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This study relies on the evolution of the industry to derive the trends that are observed. A significant increase in the Asian and the Middle Eastern market is visible, which promises the expansion of the market in the coming years. The chemical industry has witnessed vast growth in the Chinese chemicals sector, which is in turn affecting the value-chain of the European chemicals market. Europe’s chemical market decline could also be blamed on slow innovation rates. The mobility trends that have been observed in the industry are indicative of a drop in the development of transportation fuels, which is pushing the manufacturers to rethink their petrochemical strategy, owing to the chemical and petrochemical integration. A global initiative to ban plastics widely in the market is stemming from the environmental impact of the resins. The Chinese market is highly influenced by the economic transitions, fuel regulations, technological developments, private ownership, capital cost advantage, international trade and progress in the specialty chemicals among others. North America is attracting massive investment for its gas-based chemicals. The growing uncertainties regarding the prices of crude oil will affect the competitive landscape. Meanwhile, factors such as fluctuating prices of crude oil, fiscal policies, rising geopolitical tensions, trade disputes coupled with currency fluctuations might cause a decline in the global growth of the market.

Top Key Players: 

LG Chemicals, Asahi Kasei, Chi Mei Corporation, Formosa Plastics, Kumho Petrochemicals, SABIC, Styron, BASF SE, Du Pont, and Arkema SA, among others.

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Types:

Injection Molding
Extrusion
Blow Molding
Others

Application:

Automotive & Transportation
Construction
Electronics
Consumer Goods & Home Appliances
Others

Major Regions covered in the report:

North America (U.S.A., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Report Highlights:

The latest report on the global Acrylonitrile Butadiene Styrene (ABS) market offers an elaborate list of the company profiles of the top industry players.
The report highlights the most significant aspects of the industry, such as manufacturing/production capacity, sales, future expansion strategies, and the financial positions of the manufacturers and top companies.
The report emphasizes the key application areas of the leading market products & services.
The report involves a SWOT analysis of the global Acrylonitrile Butadiene Styrene (ABS) market.
The report provides vital information about the leading investors, stakeholders, policymakers, manufacturers, suppliers, and service providers involves in the Acrylonitrile Butadiene Styrene (ABS) industry.
Furthermore, the latest study is a precise account of the market and offers actionable insights into the global market size and growth rate over the estimated period.

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This release was published on openPR.