Press release
Acrylonitrile-Butadiene-Styrene (ABS) Resin Market is expected to grow at CAGR of 4.9%
acrylonitrile-butadiene-styrene acrylonitrile-butadiene-styrene (abs) resin market, acrylonitrile-butadiene-styrene (abs) resin m
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The acrylonitrile-butadiene-styrene (ABS) resin market is valued at USD 21.77 billion in 2015 and is expected to grow at CAGR of 4.9% during the forecast period.
Asia Pacific region accounts for the largest market share. It is expected to be the fastest growing one, witnessing a CAGR of XX%, during the forecast period, on account of the growing middle class population in the region. Asia-pacific market is dominated by the China, which accounts for over 75% of the Asia Pacifics market share by volume. North America and Europe markets are expected to grow at a considerable slower rate, due to the stagnant growth in the end-user industries.
The appliances and electronics & electrical applications, have the largest share in the market collectively accounting for about 65% of the global share, by volume. This is followed by the automobile sector. The automobile segment is expected to be the fastest growing segment during the forecast period, driven by the growing automobile sector. The construction sector is expected to witness a stable growth rate.
One of the major drivers for this market is the growth in the end-user industries such as automotive industry. The growing middle class population is increasing the demand for the appliances and electricals & electronics products, which is further driving the ABS resins market.
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The major challenge faced by this market is the development of sustainable products which can replace ABS resins applications in any areas. The production of ABS resins results in emission of solid waste & waste gases and it is also harmful to human beings; hence the stringent environmental regulations are being made to avoid these, which is a major challenge to this market.
The acrylonitrile-butadiene-styrene (ABS) resin market report has been segmented by geography as - North America, Europe, the Asia-Pacific (APAC), South America and Middle-East & Africa (MEA); where-in the market share of each region is analyzed and estimates are provided for the forecast period.
The market share analysis of end-user industries has been segmented in this report as per: automobile, construction, appliances, electricals and electronics, and others. A grade-wise segmentation of ABS market is also discussed in detail in addition to a comprehensive overview of the market.
Some of the major players in the market are:
Bayer Material Science.
Chei Mei,
SABIC, BASF
The Dow Chemical Company
Styrolution Group
Chemutra Corporation
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