Acrylonitrile Butadiene Styrene Market share is projected to reach USD 42,809.5 million by 2027 | Know the Russia Ukraine Impact On Acrylonitrile Butadiene Styrene Industry
The construction industry has entered a phase of prolific expansion due to the rapid growth in world population and the proliferation of residential and commercial spaces in urban areas. According to a study by Oxford Economics and Global Construction Perspectives, the volume of construction output is slated to grow by 85%, hitting a value of USD 15.5 trillion by 2030. Led by construction activities in China, India, and the US, Oxford Economics, in a recent report predicted that even amid the COVID-19 pandemic, the construction industry will rise by 35% and reach USD 5.8 trillion by 2030. Acrylonitrile butadiene styrene (ABS), a versatile thermoplastic, is known for its structural sturdiness, superior impact strength, resistance to corrosive chemicals, and excellent mechanical and insulating properties, making it an essential component in the construction of buildings. Thus, as construction activities surge around the world, the demand for ABS is likely to remain steady over the forecast period.
Get Sample PDF Brochure:
Russia-Ukraine War Implication
The Russia-Ukraine war could change the Acrylonitrile Butadiene Styrene Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Acrylonitrile Butadiene Styrene Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The report states that the global market value in 2019 was at USD 25,135.0 million. The main highlights of the report include:
Surgical analysis of the major market drivers, trends, and restraints;
In-depth diagnosis of each market segment;
Unmatched research into the regional developments and prospects of the market; and
Valuable insights into the profiles and strategies of the key market players.
Focused Investments in Innovation by Key Players to Heat up Competition
The competitive milieu of this market is getting intensified by the heightening investments by key players to boost their innovation capacities. These investments are aimed at empowering companies to develop and introduce novel ABS solutions and capture a larger market share as well as strengthen their global market presence.
September 2020: Covestro AG announced its futuristic automotive headlight concept that involves the usage of only one material, the polycarbonate Makrolon, which meets the functional and aesthetical demands of vehicles. The headlight will also utilize a blend of acrylonitrile butadiene styrene along with a scratch-resistant coating to cover the outer lens.
List of Key Companies Profiled in this Market Report:
Formosa Chemicals & Fibre Corp (Tainan City, Taiwan)
Asahi Kasei Corp. (Tokyo, Japan)
LG Chemicals (Seoul, South Korea)
INEOS (London, UK)
3M (Minnesota, United States)
KUMHO PETROCHEMICAL (Seoul, South Korea)
Chi Mei Corporation (Tainan City, Taiwan)
SABIC (Riyadh, Saudi Arabia)
Covestro AG (Leverkusen, Germany)
BASF (Ludwigshafen, Germany)
Fluctuating Demand for Plastics from the Auto Industry amid COVID-19 to Inhibit Growth
The arrival of COVID-19 led to massive upheavals in several industries, with the plastics industry is facing a moderate impact of the pandemic, which in turn in expected to have spillover effects on the acrylonitrile butadiene styrene market growth. Polymer manufacturers catering specifically to the automotive industry have been severely hit by the pandemic as many large automakers worldwide have had to shut down their operations in response to lockdowns and plummeting demand. For example, Fiat Chrysler announced that it will be ending its production activities at its plants in Serbia, Italy, and Poland, while Volkswagen declared closure of its plant in Spain. According to a survey conducted by the US-based Manufacturers Association for Plastics Processors (MAPP) in August 2020, plastic businesses linked almost exclusively to the automotive sector are on track to meet only 75% of the expected revenues in 2020. Since ABS materials are widely adopted for making various auto components, a slump in the auto industry will inevitably hinder the growth of this market.
Ask for Customization:
North America to Command Revenue Share; Asia Pacific to Dominate the Overall Market
In terms of revenue, North America is envisioned to lead the global ABS market owing to the rising demand for lightweight automobiles in the region, supported by the spreading awareness about fuel efficiency and economy of vehicles among consumers across the US and Canada. The other factor responsible for the high revenue generation in the North America market is the extensive adoption of ABS and other polymer-based materials in the healthcare industry to combat the coronavirus.
Asia Pacific, where the market size stood at USD 14,244.2 million in 2019, is expected to dominate the overall acrylonitrile butadiene styrene market share during the forecast period on account of the exponential growth of the construction industry in India and China. Increasing disposable incomes of car buyers in these two countries will also allow the regional market to register robust growth in the coming years.
Inquire Before Buying This Report:
Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner -
Mahalunge Road, Baner, Pune-411045,
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
LinkedIn Facebook Twitter
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Acrylonitrile Butadiene Styrene Market share is projected to reach USD 42,809.5 million by 2027 | Know the Russia Ukraine Impact On Acrylonitrile Butadiene Styrene Industry here
News-ID: 2610409 • Views: …
More Releases from Fortune business insights
Reverse Flame Steam Boiler Market 2023 Dynamics, Major Players, SWOT Analysis, a …
Overview of the Global Reverse Flame Steam Boiler Market 2030: The report discusses everything a marketer requires before investing in the global Reverse Flame Steam Boiler Market during the forecast period 2023-2030. Reverse Flame Steam Boiler Market Size, Share And Global Trend By Capacity (Up to 100kW, 100-1000 kW, Above 1000 kW), By End-Use (Food Industry, Chemical Industry, Refineries, Metal Industry, Power Plant), And Geography Forecast Till 2022-2029. It provides detailed
Syngas and Derivatives Market Research Analysis, Size, Share, Growth Highlights …
Overview of the Global Syngas and Derivatives Market 2030: The report discusses everything a marketer requires before investing in the global Syngas and Derivatives Market during the forecast period 2023-2030. Syngas and Derivatives Market Size, Share and Global Trend By Feedstock(Coal, Petroleum, Natural Gas, Biomass), By Technology(Partial Oxidation, Steam Reforming, Auto-Thermal Reforming, and others), By End User(Chemicals, Power Generation, Liquid Fuels, Gaseous Fuels), and Geography Forecast till 2022-2029. It provides detailed
Port equipment Market Will Experience An Upswing In Demand, Driven By Top Player …
The Port equipment Market Research Report provides an in-depth analysis of the market landscape and identifies future growth opportunities and trends until 2030. By offering valuable insights, the report enables companies to make informed decisions on business strategies and identify potential areas for growth. With a comprehensive assessment of the market, it equips businesses with the necessary tools to stay ahead of the competition. With this Port equipment Market research report,
Modular Chillers Market to reach USD 6.13 billion by 2026, at a CARG of 6.2% | L …
The Modular Chillers Market Report 2023 by Fortune Business Insights provides a comprehensive overview of the market's latest trends, size, regulations, key players, and strategies. The report offers valuable insights into the market's sales and revenue, product type, applications, regions, and leading players. Modular Chillers Market report also covers key players and competitor analysis, providing a comprehensive understanding of the industry's commercial landscape. The report is useful for gaining insights
More Releases for Acrylonitrile
Global Acrylonitrile (ACN) Market Study Analysis: The Acrylonitrile Butadiene St …
The Global Acrylonitrile (ACN) market was valued at $ million in 2019 and is anticipated to grow at more than a CAGR of 4.3% from 2020 to 2028. Acrylonitrile is a clear, colorless volatile organic liquid with a distinct odour. The acrylonitrile molecule is made up of a vinyl group and a nitrile group. Acrylonitrile is created using the ammoxidation method, which involves causing propylene, ammonia, and air to react
Acrylonitrile Butadiene to Hold 1/3rd Share of the Total Acrylonitrile Market Va …
Rising automotive production coupled with increasing availability of raw material at lower costs will drive the demand for acrylonitrile. Acrylonitrile as a chemical compound finds increasing application in manufacturing of automotive components. The fall in the prices of propylene further creates lucrative revenue opportunities for the acrylonitrile market. The global acrylonitrile market will grow at a steady 4% CAGR during the forecast period. For detailed insights on enhancing your product
Acrylonitrile Styrene Acrylate (ASA) Polymers Market
Based on the GME predictions the Global Acrylonitrile Styrene Acrylate (ASA) Polymers Market will grow at a CAGR of 6.15 percent from 2021 to 2026. ASA polymers have excellent resistance to heat, UV irradiation, moisture, and stress cracking, and possibly of all acrylonitrile elastomers, have the best weathering resistance. Browse 159 Market Data Tables and 119 Figures spread through 189 Pages and in-depth TOC on "Acrylonitrile Styrene Acrylate (ASA) Polymers Market
2020 Acrylonitrile Industry Report- Capacity Share of Major Acrylonitrile Produc …
ReportsnReports added a new report on The Acrylonitrile Industry report delivers the clean elaborated structure of the Report comprising each and every business-related information of the market at a global level. The complete range of information related to the Acrylonitrile Industry is obtained through various sources and this obtained bulk of the information is arranged, processed, and represented by a group of specialists through the application of different methodological techniques
CTBN Market Report 2018: Segmentation by Type (CTBN with 8-12% Acrylonitrile, CT …
Global CTBN market research report provides company profile for Zibo Qilong Chemical, Emerald Performance Materials and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also provides detailed segmentation on the basis of
Styrene-Acrylonitrile Resin Market Report 2017 - 2017
Styrene-Acrylonitrile Resin Styrene-Acrylonitrile Resin market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. For Full Report click on @ https://www.reportsandmarkets.com/reports/emea-europe-middle-east-and-africa-report-2017-1701073 Geographically, this report split EMEA into Europe, the Middle East and Africa, With sales (K MT), revenue (Million USD), market share and growth rate of Styrene-Acrylonitrile Resin for these