ABS (Acrylonitrile Butadiene Styrene) Resin Market Revenue Growth, Companies, Forecast To 2028
Increase in demand for electronic and household devices is driving the ABS resin market revenue growth
Global ABS (Acrylonitrile Butadiene Styrene) Resin Market size is estimated to reach USD 40.57 Billion in 2028 and register a revenue CAGR of 4.4% over the forecast period, according to the latest report by Reports and Data. Rapid increase in population, urbanization, and industrialization is driving ABS market revenue growth.
Acrylonitrile butadiene styrene is a sturdily engineered thermoplastic and amorphous polymer which is used in the production of lightweight, rigid, and molded products that are in turn used in a diverse set of end-use applications. ABS is used to manufacture protective housing for power tools and plastic face guards for a wall socket. It is commonly used in the automotive industry for the manufacturing of several items, including plastic alloys and decorative interior car parts.
Increasing demand for ABS resin from the construction industry is driving the market revenue growth. The high demand for this plastic in the construction sector is attributed to its durable and lightweight property, which makes it easy for transportation in construction sites. It also offers resistance from corrosion in harsh weather conditions due to its tight sealing features. Cost is a crucial factor in construction projects, which is a significant reason for persuading companies to prefer plastics material. Resin is economical and less expensive than its alternates such as metals.
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Top Key Players:
Asahi Kasei, LG Chemicals, BASF SE, Formosa Plastic, Chi Mei Corporation, Styron, SABIC, Covestro, The Dow Chemical Company, and LyondellBasell Industries N.V.
Some Key Highlights in the Report
Medical devices segment accounted for a significant revenue share in 2020. ABS is commonly used in production of 3D print manufacturing for original equipment manufacturers (OEMs). Its heat and impact resistance, and rigidity makes it ideal for engineering plastic to become proper substitute for metals in structural parts. Common uses of ABS in medical industry are non-absorbable sutures, drug-delivery systems, tendon prostheses and tracheal tubes. In March 2020, Clariant announced a new family of ABS polymer compound which provides manufacturers of pharmaceutical packaging and medical device with improved functionality without compromising on compliance with regulatory requirements.
The automotive industry segment accounted for largest revenue share of global acrylonitrile butadiene styrene resin market in 2020. Growing production of vehicles in major automotive manufacturing countries such as Germany, France, China, Japan, South Korea, India, Italy, and the US is driving growth of the automotive segment. ABS materials are commonly used to manufacture automotive shrouds, covers, and housings.
Market revenue in Europe is expected to grow at a significant rate during the forecast period owing to high demand for ABS resin from the automotive sector. Expanding automotive industry in the region with high production of energy-efficient vehicles to curb carbon dioxide emission is further leading towards market growth. Germany is the major contributor to the acrylonitrile butadiene styrene resin market from the region.
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Market Overview:
materials and chemicals industry has always employed cutting edge of innovation. It has guided the scientific community as well as individuals to explore new aspects of nature. From medical supplies to paints to perfumes, everything is composed of chemicals. Both new chemical discovery and substance explorations are handled by the materials and chemicals industry. The materials and chemicals industry has always taken a forward-thinking approach, from discovering new compounds to creating new chemical combinations.
This industry includes polymers, dyes, lubricants, surfactants, resins, petrochemicals, bleaches, paints, plastics, soap, detergent, and acids, among other chemicals and chemical products. The materials and chemical industries are known for improving product physical characteristics. Magnetic, optical, structural, and catalytic properties are all altered to increase the product’s overall efficacy. Leading players in the materials and chemicals industry have questioned the status quo and produced brilliant inventions that have altered the course of history. Advancement in the materials and chemicals industry can lead other industries in comprehending new types of matter. In this way, it creates a solid foundation for the advancement of society as a whole.
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Grade Outlook
Flame Retardant
Impact
Platable
Gloss
Flow
Composite Grades
Application Outlook
Musical Instruments
Automotive Bumper Bars
Medical Devices
Appliances
Others
Major Regions covered in the report:
North America (U.S.A., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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