New York, United States, Oct. 20, 2022 (GLOBE NEWSWIRE) -- Acrylonitrile butadiene styrene resin is considered the best polymer of the styrenic family and is used as an engineering plastic in several industries around the globe. Several properties make ABS suitable for use in automotive, home appliances, electronics, building and construction, and transportation industries. Many consumer goods industries have manufacturing units in and originate from Taiwan, Singapore, China, Thailand, and South Korea. The prominent presence of leading end-use industries in Asia-Pacific encourages ABS resin manufacturers to significantly invest in increasing their production capacity.
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A Great Substitute to Metal: Acrylonitrile Butadiene Styrene Resin
Durable plastics such as ABS consume less energy during the production process and can replace metals. The substitution of metals with these plastics results in not only weight reduction but also the integration of a number of functions in an individual application. ABS is used in place of metal in several applications across the automotive industry, as here, players are working to reduce vehicle weight to enhance fuel efficiency and reduce carbon emission. Moreover, the production of battery-operated vehicles requires vehicles to be lightweight for better performance, which is propelling market growth.
Impact of COVID-19 on the Acrylonitrile Butadiene Styrene Market
The novel coronavirus continues to spread with no signs of slowing down. As the number of cases increases worldwide, there is a halt in operations and prohibition of domestic as well as international travel. A share of the demand for ABS resin stems from the automobile sector for the production of auto parts. Significant demand decline from the tire and automotive industries will pressure butadiene demand and price, directly impacting the acrylonitrile butadiene styrene resin market.
Report Scope
| Report Metric | Details |
| Market Size | USD 57.24 Billion by 2030 |
| CAGR | 6.7% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Raw Material, Type, End-User, Region |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | INEOS Styrolution Group GmbH, Trinseo, Kumho Petrochemical, Formosa Chemicals & Fibre Corp., LG Chem, SABIC, BASF SE, Toray Industries Inc, Mitsui Chemicals Inc, Ravago Americas, Emco Industrial Plastics, and Elix Polymers |
| Key Market Opportunities | High Demand In Bulk Chemicals Sector Is Pushing Acrylonitrile Butadiene Styrene (Abs) Market |
| Key Market Drivers | Increasing consumer income and improved economic conditions |
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Key Highlights
- The global acrylonitrile butadiene styrene (ABS) market size was valued at USD 31.93 billion in 2021 and is projected to reach USD 57.24 billion by 2030 at a CAGR of 6.7% from 2022 to 2030.
- By type, the high gloss segment is projected to hold a 30–45% market share, fuelled by the increasing consumer demand for smart and trendy home appliances.
- Among end-use sectors, the automotive segment is a key driver for the global market, as ABS resin is widely used to enhance the aesthetic appeal of a car’s dashboard, wheel covers, and body parts. More and more consumers are looking for aesthetic looks in their car, which is surging the demand for ABS resin in the automobile industry.
- China is expected to dominate the global market, led by its strong automobile and home appliance industries.
Some of the key players profiled in the market are
- INEOS Styrolution Group GmbH
- Trinseo
- Kumho Petrochemical
- Formosa Chemicals & Fibre Corp.
- LG Chem
- SABIC
- BASF SE
- Toray Industries Inc
- Mitsui Chemicals Inc
- Ravago Americas
- Emco Industrial Plastics
- Elix Polymers
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Market Segmentation
By Raw Material
- Acrylonitrile
- Polybutadiene
- Styrene
By Type
- High gloss
- Low gloss
- High impact
- General purpose
- High flow
- Plate-able
By End-User
- Automotive
- Building and Construction
- Electronics
- Consumer goods
- Others
By Region
- North America
- Europe
- Asia-Pacific
- South America
- The Middle East
- Africa
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Acrylonitrile Butadiene Styrene Market
4.2.1 Vendor Matrix
4.3 Import-Export Analysis: Acrylonitrile Butadiene Styrene
4.4 Production Capacity by Major Companies
4.5 Covid-19 Impact Analysis
4.6 Key Market Trends
4.6.1 Drivers
4.6.2 Restraints
4.6.3 Opportunities
4.7 Porter’s Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Buyers
4.7.3 Threat of Substitution
4.7.4 Threat of New Entrants
4.7.5 Competitive Rivalry
4.8 Environment & Regulatory Landscape
4.9 Forecast Factors & Relevance of Impact
4.10 Macro-Economic & Geopolitical Scenario
4.11 Parent Market Overview
4.12 Technology Landscape
4.13 Market Share Analysis
4.14 Potential Venture Analysis
4.15 Regional Price Trends
4.16 Raw Material Trends
4.17 Cost Structure Analysis
4.17.1 Labour Cost
4.17.2 Consumables
4.17.3 Maintenance Cost
5 Raw Material Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value & Volume)
5.2 Acrylonitrile
5.2.1 Market Size & Forecast (Value & Volume)
5.3 Polybutadiene
5.3.1 Market Size & Forecast (Value & Volume)
5.4 Styrene
5.4.1 Market Size & Forecast (Value & Volume)
6 Type Overview
6.1 Introduction
6.1.1 Market Size & Forecast (Value & Volume)
6.2 High Gloss Acrylonitrile Butadiene Styrene
6.2.1 Market Size & Forecast (Value & Volume)
6.3 Low Gloss Acrylonitrile Butadiene Styrene
6.3.1 Market Size & Forecast (Value & Volume)
6.4 High Impact Acrylonitrile Butadiene Styrene
6.4.1 Market Size & Forecast (Value & Volume)
6.5 General Purpose Acrylonitrile Butadiene Styrene
6.5.1 Market Size & Forecast (Value & Volume)
6.6 High Flow Acrylonitrile Butadiene Styrene
6.6.1 Market Size & Forecast (Value & Volume)
6.7 Plate-able Acrylonitrile Butadiene Styrene
6.7.1 Market Size & Forecast (Value & Volume)
7 End-User Overview
7.1 Introduction
7.1.1 Market Size & Forecast (Value & Volume)
7.2 Automotive
7.2.1 Market Size & Forecast (Value & Volume)
7.3 Building & Construction
7.3.1 Market Size & Forecast (Value & Volume)
7.4 Electronics
7.4.1 Market Size & Forecast (Value & Volume)
7.5 Consumer Goods
7.5.1 Market Size & Forecast (Value & Volume)
7.6 Others
7.6.1 Market Size & Forecast (Value & Volume)
8 Regional Overview
8.1 Introduction
8.1.1 Market Size & Forecast (Value & Volume)
8.2 North America
8.2.1 Economic Overview
8.2.2 Market Scenario
8.2.3 U.S.
8.2.3.1 By Raw Material
8.2.3.2 By Type
8.2.3.3 By End-User
8.2.4 Canada
8.2.4.1 By Raw Material
8.2.4.2 By Type
8.2.4.3 By End-User
8.2.5 Mexico
8.2.5.1 By Raw Material
8.2.5.2 By Type
8.2.5.3 By End-User
8.3 Central and South America and the Caribbean
8.3.1 Economic Overview
8.3.2 Market Scenario
8.3.3 Brazil
8.3.3.1 By Raw Material
8.3.3.2 By Type
8.3.3.3 By End-User
8.3.4 Argentina
8.3.4.1 By Raw Material
8.3.4.2 By Type
8.3.4.3 By End-User
8.3.5 Colombia
8.3.5.1 By Raw Material
8.3.5.2 By Type
8.3.5.3 By End-User
8.3.6 Rest of Central and South America and the Caribbean
8.3.6.1 By Raw Material
8.3.6.2 By Type
8.3.6.3 By End-User
8.4 Europe
8.4.1 Economic Overview
8.4.2 Market Scenario
8.4.3 Germany
8.4.3.1 By Raw Material
8.4.3.2 By Type
8.4.3.3 By End-User
8.4.4 France
8.4.4.1 By Raw Material
8.4.4.2 By Type
8.4.4.3 By End-User
8.4. 5 U.K.
8.4.5.1 By Raw Material
8.4.5.2 By Type
8.4.5.3 By End-User
8.4.6 Italy
8.4.6.1 By Raw Material
8.4.6.2 By Type
8.4.6.3 By End-User
8.4.7 Rest of Europe
8.4.7.1 By Raw Material
8.4.7.2 By Type
8.4.7.3 By End-User
8.5 Asia-Pacific (APAC)
8.5.1 Economic Overview
8.5.2 Market Scenario
8.5.3 China
8.5.3.1 By Raw Material
8.5.3.2 By Type
8.5.3.3 By End-User
8.5.4 Japan
8.5.4.1 By Raw Material
8.5.4.2 By Type
8.5.4.3 By End-User
8.5.5 India
8.5.5.1 By Raw Material
8.5.5.2 By Type
8.5.5.3 By End-User
8.5.6 Australia
8.5.6.1 By Raw Material
8.5.6.2 By Type
8.5.6.3 By End-User
8.5.7 South Korea
8.5.7.1 By Raw Material
8.5.7.2 By Type
8.5.7.3 By End-User
8.5.8 Rest of APAC
8.5.8.1 By Raw Material
8.5.8.2 By Type
8.5.8.3 By End-User
8.6 Middle East
8.6.1 Economic Overview
8.6.2 Market Scenario
8.6.3 Saudi Arabia
8.6.3.1 By Raw Material
8.6.3.2 By Type
8.6.3.3 By End-User
8.6.4 UAE
8.6.4.1 By Raw Material
8.6.4.2 By Type
8.6.4.3 By End-User
8.6.5 Qatar
8.6.5.1 By Raw Material
8.6.5.2 By Type
8.6.5.3 By End-User
8.6.6 Oman
8.6.6.1 By Raw Material
8.6.6.2 By Type
8.6.6.3 By End-User
8.6.7 Turkey
8.6.7.1 By Raw Material
8.6.7.2 By Type
8.6.7.3 By End-User
8.6.8 Rest of the Middle East
8.6.8.1 By Raw Material
8.6.8.2 By Type
8.6.8.3 By End-User
8.7 Africa
8.7.1 Economic Overview
8.7.2 Market Scenario
8.7.3 Nigeria
8.7.3.1 By Raw Material
8.7.3.2 By Type
8.7.3.3 By End-User
8.7.4 South Africa
8.7.4.1 By Raw Material
8.7.4.2 By Type
8.7.4.3 By End-User
8.7.5 Rest of Africa
8.7.5.1 By Raw Material
8.7.5.2 By Type
8.7.5.3 By End-User
9 Competitive Landscape — Manufacturers & Suppliers
9.1 Competition Dashboard
9.2 Industry Structure
9.3 INEOS Styrolution Group GmbH
9.3.1 Business Overview
9.3.2 Financial Performance
9.3.3 Recent Developments
9.3.4 Product Portfolio
9.4 Trinseo
9.4.1 Business Overview
9.4.2 Financial Performance
9.4.3 Recent Developments
9.4.4 Product Portfolio
9.5 Kumho Petrochemica
9.5.1 Business Overview
9.5.2 Financial Performance
9.5.3 Recent Developments
9.5.4 Product Portfolio
9.6 Formosa Chemicals & Fibre Corp.
9.6.1 Business Overview
9.6.2 Financial Performance
9.6.3 Recent Developments
9.6.4 Product Portfolio
9.7 LG Chem
9.7.1 Business Overview
9.7.2 Financial Performance
9.7.3 Recent Developments
9.7.4 Product Portfolio
9.8 SABIC
9.8.1 Business Overview
9.8.2 Financial Performance
9.8.3 Recent Developments
9.8.4 Product Portfolio
9.9 BASF SE
9.9.1 Business Overview
9.9.2 Financial Performance
9.9.3 Recent Developments
9.9.4 Product Portfolio
9.10 Toray Industries Inc
9.10.1 Business Overview
9.10.2 Financial Performance
9.10.3 Recent Developments
9.10.4 Product Portfolio
9.11 Mitsui Chemicals Inc
9.11.1 Business Overview
9.11.2 Financial Performance
9.11.3 Recent Developments
9.11.4 Product Portfolio
9.12 Emco Industrial Plastics
9.12.1 Business Overview
9.12.2 Financial Performance
9.12.3 Recent Developments
9.12.4 Product Portfolio
10 Conclusion & Recommendation
11 Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/acrylonitrile-butadiene-styrene-market/toc
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