Acrylonitrile Butadiene Styrene (ABS) Market to grow by 1387.12 million tons during 2021-2025|Increasing Demand for ABS from China to Boost Growth |Technavio

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Mar 05, 2021, 03:00 ET

NEW YORK, March 5, 2021 /PRNewswire/ -- The acrylonitrile butadiene styrene (ABS) market is expected to grow by 1387.12 million tons during 2021-2025, expanding at a CAGR of about 3%. The report also throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

Acrylonitrile Butadiene Styrene (ABS) Market by Application and Geography - Forecast and Analysis 2021-2025

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Acrylonitrile Butadiene Styrene (ABS) Market: Increasing demand for ABS from China to drive growth

China is a leading consumer of ABS and accounted for a 55%-56% share in 2020. Many OEMs are shifting their manufacturing bases to the country. The major end-user industries of ABS are the appliances, electrical and electronics, construction, and automotive. ABS offers strong resistance to corrosive chemicals and has a low melting point. Moreover, it is inexpensive compared to other polymers and is also used in electrical components. Increasing disposable income and demand for consumer goods and household appliances will significantly increase the consumption of ABS in China.

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As per Technavio, the rising demand for ABS will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.

Acrylonitrile Butadiene Styrene (ABS) Market: Rising demand for ABS

ABS is primarily used for manufacturing components of automobiles such as instrument panels, pillar trim, dashboard components, door liners and handles, seat backs, seat belt components, and others. The automotive industry is the largest consumer of ABS. It is one of the materials that can be used as a substitute for metal components. Countries such as China, Germany, India, France, Italy, South Korea, Japan, and the US use ABS in automotive components and have large automobile manufacturing hubs. Thus, the production of vehicles will increase the demand for ABS during the forecast period.

"Increasing urban population, rising disposal incomes, and the growing construction and automotive industries will further boost market growth during the forecast period", says a senior analyst at Technavio.

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Acrylonitrile Butadiene Styrene (ABS) Market: Major Vendors

Avient Corp.
BASF SE
Chi Mei Corp.
Daicel Corp.
Formosa Plastics Corp.

Acrylonitrile Butadiene Styrene (ABS) Market: Segmentation Analysis
This market research report segments the acrylonitrile butadiene styrene (ABS) market by application (Appliances, Electrical and electronics, Automotive, Construction, and Others) and geography (APAC, Europe, North America, MEA, and South America).

The APAC region led the acrylonitrile butadiene styrene (ABS) market in 2021, followed by Europe, North America, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the rise in demand for plastic pipes and sheets.

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Some of the key topics covered in the report include:

Market Challenges

Market Drivers

Market Trends

Vendor Landscape

Vendors covered
Vendor classification
Market positioning of vendors
Competitive scenario

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With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio