Press release
Increasing consumer goods, construction, and automotive accessories are key driving factors for Acrylonitrile Butadiene Styrene (ABS) Market
Asia is expected to see an increase in construction investment during the projected period as a result of the region's growing urbanization and population. The construction markets in China and India are expected to see significant growth as a result of rising disposable income and increased government spending on important infrastructure projects. These factors are predicted to boost ABS demand in the near future. China dominated the global market in 2021 with a revenue share of 56.4%. Because there is an increase in construction activity, this trend is anticipated to remain for the entire predicted time. The Chinese construction sector had double-digit growth from 2021 to 2028, which is expected to support future demand for the product.
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The Chinese auto industry is the largest in the world in terms of the number of units manufactured. Production increased across the country even during the recession. Domestic demand for cars has increased as a result of the nation's rising per capita income. Rising auto production is projected to have a direct effect on ABS demand during the projection period. Due to the continent's expanding vehicle production, North America was given a 10.7% revenue share in 2021. Mexico's automotive industry is expected to grow significantly as a result of increased auto production and the presence of numerous key market players. The region's automotive industry is anticipated to have a significant boost in vehicle production and export in the next years. Businesses like Nissan, Honda, and Mazda built their manufacturing facilities near the country's centre to create a variety of auto models in large quantities.
Read market research report, "The Global Acrylonitrile Butadiene Styrene (ABS) Market is segmented based on Application, and Region. Based on Application the market is segmented into Appliances, Automotive, Consumer Goods, and Construction, & By Region - Forecast and Analysis 2022-2028" by SkyQuest
Globally, the automotive industry has been growing quickly. Globally, the industry sold 95.0 million cars in 2021, a 4.6% rise from the previous year. Demand is expected to rise over the coming years as a result of factors including growing urbanization, rising interest in electric vehicles, and ongoing technology advancements. The automotive category, which had a revenue share of 16.5 percent and is expected to grow at the fastest rate throughout the projected period, is a result of increased use in the automobile industry. Growing vehicle production, particularly in China, Indonesia, Mexico, the US, Germany, South Korea, Japan, Malaysia, and Taiwan, is a major factor in the expansion of the automotive market.
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13.3% of the market's acrylonitrile butadiene styrene revenue in 2021 came from the construction industry (ABS). ABS is a superior choice for construction than any other plastic, and it is widely used in vacuum parts, fittings, and pipelines. It is easy to install and portable. Timetric's Construction Intelligence Center projects that during the next five years, the global construction industry will expand at a rate of 4.5% (CIC). The electrical and electronics industry manufactures a wide variety of products, from consumer gadgets to medical equipment. From 2021 to 2028, the global consumer electronics industry is predicted to grow at a CAGR of 13.4%, which is likely to lead to a rise in demand for goods.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
What does this Report Deliver?
Market Estimation for 20+ Countries
Global Acrylonitrile Butadiene Styrene (ABS) Market demand by Region, Sub-Region, and Country
Customization on Segments, Regions, and Company Profiles
100+ tables, 150+ Figures
Global, Regional, and Country-specific Acrylonitrile Butadiene Styrene (ABS) Market Trends
Comprehensive Mapping of Acrylonitrile Butadiene Styrene (ABS) Market Parameters
Attractive Investment Proposition in the Global Acrylonitrile Butadiene Styrene (ABS) Market
Competitive Strategies Adopted by Global Acrylonitrile Butadiene Styrene (ABS) Market Key Players
Drivers, Restraints, Opportunities, Challenges, and the impact on the Global Acrylonitrile Butadiene Styrene (ABS) Market Size
Market growth rate till 2028
Regulatory scenario, regional dynamics, and Global Acrylonitrile Butadiene Styrene (ABS) Market insights of leading countries in each region
In-depth Market insights by Region and Country
Market Segmentation Trend Analysis, Opportunities, and Growth
Porter's five force analysis to know the market's condition
Pricing Analysis and Global Acrylonitrile Butadiene Styrene (ABS) Market Sales
Parent market analysis
Product portfolio benchmarking
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SkyQuest has segmented the Global Acrylonitrile Butadiene Styrene (ABS) Market based on Application and Region.
Global Acrylonitrile Butadiene Styrene (ABS) Market by Application Outlook (Revenue, US$ Billion, 2021 - 2028)
Appliances
Automotive
Consumer Goods
Construction
Global Acrylonitrile Butadiene Styrene (ABS) Market by Region Outlook (Revenue, US$ Billion, 2021 - 2028)
North America
US
Canada
Europe
UK
Germany
Rest of Europe
Asia Pacific
China
India
Japan
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Key Players in the Global Acrylonitrile Butadiene Styrene (ABS) Market
TORAY INDUSTRIES INC. (Japan)
KUMHO PETROCHEMICAL (South Korea)
Ravago Americas (US)
SABIC (Saudi Arabia)
Trinseo (US)
BASF SE (Germany)
INEOS Styrolution (Germany)
Formosa Chemicals & Fibre Corp. (Taiwan)
LG Chem. (South Korea)
Mitsui Chemicals Inc. (Japan)
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