PUNE, India, June 3, 2021 /PRNewswire/ -- Acrylonitrile Butadiene Styrene market size, was worth of USD 27.45 Billion in 2020 and is expected to reach USD 46.88 Billion by 2027, growing at a CAGR of 6.92% from 2020 to 2027. The global Acrylonitrile Butadiene Styrene market is expected to grow at significant growth rate due to number of driving factor.
Acrylonitrile Butadiene Styrene Companies: The major key players of global acrylonitrile butadiene styrene market are LG Chemicals, Asahi Kasei, Chi Mei Corporation, Formosa Plastics, KKPC, SABIC, Styron, Styrolution, BASF SE, and DuPont , INEOS Styrolution, Trinseo , Formosa Chemicals & Fibre Corp., SABIC, BASF SE, TORAY INDUSTRIES INC., Mitsui Chemicals, Inc., Ravago Americas and others.
Global Acrylonitrile Butadiene Styrene Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Factors such as increasing growth of automotive industry, adoption of ABS in automotive sector, various advantages of ABS in transportation, construction, electronics and other industries are some of the major factors driving the market growth.
ABS or Acrylonitrile Butadiene Styrene is a common opaque thermoplastic polymer widely used in electronic housing, auto parts, consumer products, pipe fittings, Lego bricks, toys and others. ABS is impact resistant engineering thermoplastic and amorphous polymer of acrylonitrile, butadiene & styrene. Acronytrile is synthetic monomer and contributes to ABS chemical resistance and heat stability. Butadiene delivers toughness and impact strength to ABS polymer. Styrene provides rigidity and processability to ABS plastic. This engineering plastic is popular because of low production cost and ease with which material with machined by plastic manufacturers. It has unique features such as structural strength and stiffness, chemical resistance, excellent high and low performance, electrical insulation properties, dimensional stability, tensile strength, surface hardness and electrical characteristics. ABS falls between standard resins such as PVC, polyethylene, polystyrene and engineering resins like acrylic, nylon and often meets satisfactory engineering properties at a reasonable cost. It offers greater impact properties and high heat distortion temperature. As ABS is amorphous, therefore it has no true melting point. The ABS market is witnessing its growing demand in electronics industry, where it is used in business machines, computers, radios, televisions telephone handsets and in automobile sector, it is used in instrument panels, consoles, radiator grills and interior trim parts with growing use in recreational vehicles.
Corona virus pandemic is causing disruption and economic hardship around the globe. Covid-19 has shown a declining impact on the growth of global acrylonitrile butadiene styrene market as ABS is used as a raw material in various industries such as automotive, plastic, construction and others and all theses industries have shown a decline growth in the Covid-19 which has also affected the demand for Acrylonitrile Butadiene Styrene.
Increasing Growth of Automotive Industry and Rising Adoption of ABS in Automotive Applications, Various Advantages of ABS in Transportation, Construction, Electronic and Other Industries are Driving the Market Growth
Increasing growth of automotive industry and growing adoption of ABS in automotive industries is propelling the growth of global acrylonitrile butadiene styrene market. For example; as per the European Automobile Manufacturers' Association, or ACEA,; after a year that saw the sharpest drop ever in EU car sales due to the COVID-19 pandemic, the European Automobile Manufacturers' Association (ACEA) forecasts that 2021 will mark a first step on the path to recovery. It estimates that the sales will rise by about 10% compared to 2020. As polymers like ABS are light weight and have relatively better properties. Global plastic penetration is 120kg/vehicle, So that wide variety of plastic is used in vehicles.
In addition, growing adoption of ABS is also supplementing the market growth. ABS is the preferred engineering plastic when it comes to deal with automotive applications. There has been an increasing focus on weight reduction in automotive. Being a great substitute to metals, ABS has been extensively used in manufacturing automotive parts. Basic function of these widely used high performance plastic material in vehicles is to detect automobiles their functionality, economy and low fuel consumption. Therefore, due to rising demand of polymers like ABS in automotive industries many key players are investing in ABS plants to fulfill the growing demands. For example; in 2020, Ineos Stryrolution announced plans to build a world scale ABS plant in Ningbo, China. As ABS is made up of different monomers so it has combine properties such as it is hard, rigid, tough ductile & it can be precisely manufacture in injection molding which is requirement for the way bricks of brand such as Lego fit together. Thus, the demand of ABS in Lego manufacturing is also rising. Furthermore, increasing use of ABS in fabrication industry, 3D printing or injection molding process is also supplementing the growth of the market.
However, presence of other substitutes may hinder the growth of the market. In spite of that, emerging applications of ABS in various industries can consequently offer more opportunities for the further growth of the market.
News: Elix Polymers Developed Medical Pre-Coloured ABS Materials Optimized For Laser Marking.
On March 3rd, 2021, ELIX polymers developed special medical pre-colored materials M203FC or M205FC which is ABS formulations based on existing biocompatibility. It is used to maximize laser marking results on medical devices and to ensure full compliance with regulations. ABS (Acrylonitrile Butadiene Styrene) polymers are materials that are widely used to produce external enclosures, covers or shells for reusable devices also it is a laser markable material where correct laser settings adapted. For these reasons ELIX polymers has evolved special medical ABS formulations based on M203FC and M205FC materials that enhance laser marking to achieve a specific color change. As ABS and its color are both essential factors for getting the required laser marking effect, and main aim of this type of development is to create a database selection of available pigments with highest performance under different laser system.
Global Acrylonitrile Butadiene Styrene Market Segmentations
Global acrylonitrile butadiene styrene market is segmented on the basis of application and regional and country level. On the basis of application global acrylonitrile market is classified into automotive, consumer goods, appliances, construction, electronics and others.
North America is Expected to Dominate the Global Acrylonitrile Butadiene Styrene Market:
The global acrylonitrile butadiene styrene market is segmented into North America, Europe, Asia- Pacific Latin America and Middle East & Africa. North America is expected to dominate the market within the forecast period attributed to increasing vehicle production and high investment in research and development in this region. As in mass produced vehicles, many of plastic parts are made up of ABS and having properties like injection molded from resins. ABS is one of the most common materials which is used to manufacture automotive covers, shrouds and housing. In addition, growing adoption ABS in 3D printing is also enhancing the growth of the market. Thus, the key players in North America are focusing on using ABS in manufacturing of 3d printers. For example; in May 2020, Bigrep launced ABS material for large format 3d printing. Europe is projected to capture the second largest share of global acrylonitrile butadiene styrene market due to increased production of electric vehicle in this region.
Asia pacific is also expected to witness a fastest growth in the global acrylonitrile butadiene styrene due to increasing adoption of ABS in automotive industry and construction industry in this region. As ABS has various physical properties such as rigidity, tensile strength, toughness that is beneficial in production of vehicles, so there is increasing production of vehicles is anticipated to propel the growth of the market into the region.
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