Acrylonitrile Butadiene Styrene Market In-Depth Analysis with Booming Trends, Growth and Forecast Report

Felton, Calif., USA, Feb. 17, 2021 — /EPR Network/ —

The global Acrylonitrile Butadiene Styrene Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global acrylonitrile butadiene styrene market size is expected to value at USD 34.88 billion by 2022. The market is subject to witness a substantial growth due to the increasing need in automotive sector for light weight automobile parts and construction sector. Rising adoption in industry goods, various equipment, automobile ancillaries, & construction instruments to achieve lightweight & high tensile strength, is significantly contributing to market growth over the forecast period.

Key Players:

• LG Chemicals
• Asahi Kasei
• Chi Mei Corporation
• Formosa Plastics
• KKPC
• SABIC
• Styron
• Styrolution
• BASF

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Growth Drivers:

Ever increasing greenhouse gas emission as per the International Energy Agency (IEA) is a key driving factor for growth of the acrylonitrile butadiene styrene market. Furthermore, numerous advantages associated with the adoption of the lightweight parts in the automotive industry, is propelling expansion of the market in recent years. Globally, the market is predicted to grow at CAGR of 7.1% in forecast period, providing numerous opportunity for market players to invest for research & development.

Substantial growth of the automotive sector in the various region across the globe is likely to spur market demand of the acrylonitrile butadiene styrene. Rising purchases of commercial vehicle, public transport systems, and motorbikes are some of the key areas to promote adoption of the acrylonitrile butadiene styrene in coming years. Applications of the acrylonitrile butadiene styrene (ABS) involves production of the interior automobile parts similar to trims, main console, inside grating, liners on the headlights, and side view mirrors. Increasing sales of automotive vehicles is expected to have a positive impact the expansion of the acrylonitrile butadiene styrene market.

The use of the acrylonitrile butadiene styrene (ABS) in construction sector involves manufacturing of vacuum pumps and pipes, & differential fitting instruments, majorly due to superior mechanical strength and lightweight. Production for large equipment for the storage of the waste materials with the use of the acrylonitrile butadiene styrene provides better corrosion resistance & more durability in comparison with the conventional products such as PVC. Such properties associated with acrylonitrile butadiene styrene are likely to augment market growth during the forecast period. Though, rising use of the styrene butadiene rubber is likely to limit growth of the acrylonitrile butadiene styrene market in upcoming years. Styrene butadiene rubber (SBR) is largely used in the production of tires & various automobile parts due to its high abrasion resistance, is significantly hamper growth of the market.

Application Outlook:

• Appliances
• Automotive
• Consumer Goods
• Construction
• Electrical And Electronics

Regional Outlook:

The acrylonitrile butadiene styrene market is divided into regional market segment such as North America, Europe, Asia-Pacific, Latin America & Africa. North America has shown major growth in recent years owing to the rising vehicle manufacturing and presence of prominent industry players in the region. Asia-Pacific region is predicted to hold major market share in the market with massive growth in forecast period. Countries such as India & China are leading the Asia-Pacific market with growing demand from rising construction, growing personal expenditure & significant spending of government agencies on infrastructure.

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