Acrylonitrile Butadiene Styrene (ABS) Resin Market - Growth, Trends, and Forecast (2019 - 2024)

SKU ID : INH- 13517480

Publishing Date : 01-May-2019

No. of pages : 125

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  • Market Overview

    The market for acrylonitrile butadiene styrene is expected to grow at a CAGR of more than 5 % during the forecast period of 2019 – 2024. Major factors driving the market studied are the growing demand from the automotive and transportation sector. On the flipside, low compatibility in applications involving high temperature is expected to hinder the growth of the market studied.

    - Automotive and transportation industry dominated the market in 2018 and is expected to grow during the forecast period.
    - Innovative applications and products are likely to act as an opportunity in the future.
    - Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China and India.

    Key Market Trends

    Increasing Demand from Automotive & Transportation Industry

    - The application of polymeric materials in automobiles is constantly increasing, and this trend is expected to continue during the forecast period. The application of polymeric materials allows more freedom in design and offers a safe geometrical and economic solution for the construction of parts.
    - ABS is used in every area of an automobile i.e., in internal parts, parts of the engine compartment, external parts, and in bodywork. Moreover, airplane panels and luggage compartments are often made of ABS plastic. It is highly suitable for vacuum forming, so it can be manipulated into a wide variety of shapes. Its heavy-duty strength and lightweight density make it the perfect application for airplane interior parts. Besides, they are also used in aircraft doors and fuselages.
    - In railways, ABS sheets are extensively used in the manufacturing of seat backs, window masks, and ceiling panels.
    - ABS is primarily used for the manufacturing of housings, covers, and linings, which are used in an automobile, aerospace, and railways because of their various beneficial properties.
    - ABS offers toughness, strength, and rigidity. They are opaque and have a high surface polish level. When they are exposed to weather, there is a reduction in the surface gloss.
    - In addition, they possess excellent heat- and flame- resistant properties and electrical insulation. They are used in bumpers, seating, dashboard, interior trim, exterior trim, lighting, dashboard, and many more.
    - Owing to the ongoing growth in the global transportation industry and the focus on minimizing carbon emission and enhancing fuel economy, by reducing the weight of a vehicle, is expected to drive the market for ABS resin during the forecast period.

    Asia-Pacific Region to Dominate the Market

    - The market for the ABS witnessed fast growth in the Asia-Pacific region in 2018, owing to increased replacement of traditional plastics by ABS in the rapidly growing automotive sector. The market is also being driven by the replacement of polystyrene in consumer goods & appliances and electrical & electronics sectors.
    - Moreover, the growth of the market has also been benefitted heavily from the increased purchasing power of consumers in China and India, and the resultant increase in the sales of consumer durables.
    - The appliance market in China is expected to grow as the middle-class population grows, thereby driving the ABS market in the country. The migration of manufacturing of electronic/electrical, appliances, and other markets to China over the years has resulted in increased ABS demand in the country.

    Competitive Landscape

    The ABS market is partly fragmented and is dominated by very few players. Some of these major players include BASF SE, 3M, Covestro AG, INEOS, and Arkema SA, among others.

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    This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.

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