Acrylonitrile Butadiene Styrene (ABS) Market size to grow by 1387.12 million t | 76% growth to originate in APAC | Technavio

One of the primary growth drivers for this market is the increasing demand for ABS from China. In addition, the rising demand for ABS from the automotive sector and the rise in demand for plastic pipes and sheets will further accelerate the growth of the market. The acrylonitrile butadiene styrene (ABS) market is expected to post a year-over-year growth rate of 2.14%. Technavio expects the acrylonitrile butadiene styrene (ABS) market size to grow by 1387.12 million t, expanding at a CAGR of about 3% during the forecast period.

Acrylonitrile Butadiene Styrene (ABS) Market: Segment Highlights

• By application, the market is segmented by Appliances, Electrical and electronics, Automotive, Construction, and Others.
• The growth of the market in the appliances segment will be significant during the forecast period.
• The increased use of ABS in household appliances and consumer goods such as control panels, vacuum cleaners, food processors, and refrigerator liners is driving the growth of the segment.
• Also, the excellent impact resistance and insulation properties of ABS are contributing to the growth of the segment.

Regional Analysis

• 76% of the growth will originate from the APAC region.
• The growth of the automotive, construction, appliances, and electrical and electronics sectors is driving the ABS market in APAC.
• Also, the increasing demand for ABS in China, India, Indonesia, Vietnam, and Thailand is contributing to the growth of the regional market.
• China, South Korea (Republic of Korea), and Japan are the key markets for acrylonitrile butadiene styrene (ABS) in APAC. Market growth in this region will be faster than the growth of the market in other regions.

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Notes:

• The acrylonitrile butadiene styrene (ABS) market size is expected to accelerate at a CAGR of about 3% during the forecast period.
• The acrylonitrile butadiene styrene (ABS) market is segmented by Application (Appliances, Electrical and electronics, Automotive, Construction, and Others) and Geography (APAC, Europe, North America, MEA, and South America).
• The market is concentrated due to the presence of a few established vendors holding significant market share.
• The research report offers information on several market vendors, including Avient Corp., BASF SE, Chi Mei Corp., Daicel Corp., Formosa Plastics Corp., INEOS Group Holdings SA, LG Chem Ltd., Mitsui Chemicals, Inc., Saudi Basic Industries Corp., and Toray Industries Inc.

Related Reports:

Liquid Polybutadiene Market by End-user and Geography - Forecast and Analysis 2021-2025

Acrylonitrile Market by Application and Geography - Forecast and Analysis 2021-2025

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