Acrylonitrile Butadiene Styrene (ABS) is a thermoplastic-based polymer exhibiting mechanical properties such as greater durability and resistance to impact & heat. This shiny plastic with impervious surface witnesses large demand from several major end-use industries like automotive, building & construction, sports, consumer goods, and electronics among others to manufacture sturdy, light-weight, and molded parts.
Key players leading the global acrylonitrile butadiene styrene market include INEOS Styrolution (Germany), LG Chem. (South Korea), Trinseo (U.S.), Formosa Chemicals & Fibre Corp. (Taiwan), SABIC (Saudi Arabia), Kumho Petrochemica (South Korea), BASF SE (Germany), Mitsui Chemicals, Inc. (Japan), Toray Industries Inc. (Japan), and Ravago Americas (U.S.) among others.
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Acrylonitrile Butadiene Styrene Market Competitive Analysis:
Fiercely competitive the acrylonitrile butadiene styrene market appears to be fragmented due to the presence of several large and small-scale players. Key manufacturers strive to increase the production capacity and develop new products. They develop composites that are not only lower weight, but also offer low VOC and low odor properties, and enables faster production cycle times to meet the increasing demand of automotive manufacturers to reduce vehicle weight without affecting stability.
Moreover, the increasing application areas of acrylonitrile butadiene styrene are encouraging the players to invest in R&D activities to formulate new products and to develop new technologies.
The players operating in the market strengthen their market presence by expanding their distribution network and regional presence. This, leads them to experience various collaborations with other players and formulate strategic initiatives such as mergers, acquisition, and partnerships, expanding product portfolio.
Industry/ Innovation/ Related News
April 04, 2019 —– Trinseo (the US), a leading global material solutions provider and manufacturer of plastics, latex binders, and synthetic rubber introduced its new long-glass-fiber-reinforced acrylonitrile butadiene styrene (ABS LGF) alloy. The innovative lightweight plastic can replace metal in semi-structural components, providing up to 30 percent weight savings compared to magnesium or aluminum. Trinseo presented its new ABS LGF alloy at VDI’s Plastics in Automotive Engineering (PIAE) conference, in Mannheim, Germany.
Resultantly, Acrylonitrile Butadiene Styrene Market has become a mainstream market, garnering a vast prominence and hence significant growth across the globe. The rapid industrialization and urbanization provide a huge impetus to the growth of the market. Moreover, the growing demand from the burgeoning sectors such as automotive, construction, and electronics escalates the market on the global platform.
Considering the rapid expansion, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the global acrylonitrile butadiene styrene market will garner exponential accruals registering a phenomenal CAGR throughout the forecast period (2017 – 2023).
Additional factors that are boosting the market growth include the growing applications of ABS in the construction sector as a result of improved standards of living and disposable income, especially in developing countries that are allowing people to invest more in the high-end construction and decorative home activities.
Acrylonitrile Butadiene Styrene Market Segments:
For ease of understanding, the MRFR analysis has been segmented into two key dynamics: –
By Applications : Appliances, Electrical & Electronics, Automotive, Building & Construction, Consumer Goods, Sports Equipment, and Musical Instruments among others.
By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World.
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Global Acrylonitrile Butadiene Styrene Market Regional Analysis:
The Asia Pacific region, heading with some of the burgeoning end-use industries such as automotive and building & construction sector accounts for the leading market in the global acrylonitrile butadiene styrene market. APAC countries such as China, India, South Korea, and Japan backed by the largest consumption of the products accounts of the key contributors to the growth of the regional market.
Additional factors boosting the growth of the regional market include the growing population and the increasing per capita income in the region. Furthermore, the raw materials advantage that is continually increasing investments and the number of manufacturing sites are some of the dominant driving forces which will allow in the region to retain its dominance throughout the forecast period.
The acrylonitrile butadiene styrene market in the North American region accounts for the second-largest market, globally. Factors such as colossal growth opportunity for construction and sports industry, the presence of a well-penetrated automotive sector, and sustained increase in the product demand are substantiating the growth in the regional market. The US backed by the presence of well-established end-use industries such as automotive and sports, stands as the primary growth driver for the regional market.
The European acrylonitrile butadiene styrene market accounts for a rapidly growing market, globally. Factors such as the presence of a well-developed automotive industry drive the growth of the regional market, consuming a massive amount of the product. Some of the European countries such as Germany, Italy, and France account for the significant growth contributors for the regional market. Moreover, the burgeoning aerospace industry accounts responsible for the major consumption of acrylonitrile butadiene styrene in this region.
- Acrylonitrile Butadiene Styrene Manufacturers
- Traders and distributors of Acrylonitrile Butadiene Styrene
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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