Acrylonitrile Butadiene Styrene Market Trends and Forecast
The future of the global acrylonitrile butadiene styrene market looks promising with opportunities in the appliance, electrical & electronics, automotive, consumer good, and construction markets. The global acrylonitrile butadiene styrene market is expected to reach an estimated $37.9 billion by 2030 with a CAGR of 6.3% from 2024 to 2030. The major drivers for this market are rising adoption in electronics and electrical appliances, growing popularity in the construction industry, and increasing demand from the automotive sector.
• Lucintel forecasts that opaque is expected to witness the highest growth over the forecast period.
• Within this market, appliance is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Acrylonitrile Butadiene Styrene Market
• United States: In the United States, companies like Styron LLC and Trinseo have been focusing on innovation and sustainability in ABS production. Styron LLC has announced investments in research and development to enhance ABS formulations for the automotive and consumer electronics applications. Trinseo has set targets to increase the use of recycled materials in ABS manufacturing, aligning with sustainability goals and regulatory requirements. The U.S. government supports the plastics industry through initiatives promoting innovation and environmental stewardship, enhancing competitiveness in the global markets.
• India: In India, companies, such as Supreme Industries and Formosa Plastics Corporation are expanding their ABS production capacities to meet growing domestic demand. Supreme Industries has announced plans to enhance its ABS manufacturing capabilities to cater to the increasing requirements from sectors like automotive and construction. Formosa Plastics Corporation aims to improve production efficiencies and reduce environmental impact through technological advancements in ABS production. The Indian government encourages investments in the plastics sector through policies promoting domestic manufacturing and sustainability.
• China: In China, companies like Chi Mei Corporation and LG Chem are driving innovation and market expansion in the ABS segment. Chi Mei Corporation has focused on developing high-performance ABS grades and enhancing production capacities to meet growing demand from the automotive and electronics industries. LG Chem has collaborated with Chinese partners to localize production and develop customized ABS solutions for local market needs. The Chinese government supports the plastics industry through policies promoting technological innovation, resource efficiency, and market competitiveness.
• Germany: In Germany, BASF and Covestro are leading initiatives in ABS production and sustainability. BASF has been investing in research and development of bio-based and recyclable ABS materials to reduce environmental impact and meet circular economy goals. Covestro is focusing on enhancing ABS formulations for lightweighting applications in the automotive and aerospace sectors, aiming to improve fuel efficiency and reduce carbon footprint. The German government supports the plastics industry through regulatory frameworks promoting sustainable production practices and resource efficiency.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Acrylonitrile Butadiene Styrene Market by Segment
The study includes a forecast for the global acrylonitrile butadiene styrene market by type, application, and region.
Acrylonitrile Butadiene Styrene Market by Type [Value from 2018 to 2030]:
• Opaque
• Transparent
• Colored
Acrylonitrile Butadiene Styrene Market by Application [Value from 2018 to 2030]:
• Appliances
• Electrical & Electronics
• Automotive
• Consumer Goods
• Construction
• Others
Acrylonitrile Butadiene Styrene Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Acrylonitrile Butadiene Styrene Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies acrylonitrile butadiene styrene companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the acrylonitrile butadiene styrene companies profiled in this report include-
• LG Chemicals
• Asahi Kasei
• CHIMEI
• Formosa Plastics
• KUMHO PETROCHEMICAL
• SABIC
• Trinseo
• INEOS Styrolution
• BASF
• DuPont
Recent Development in the Acrylonitrile Butadiene Styrene Market
• INEOS Styrolution : INEOS Styrolution has been expanding its ABS production capacity globally to meet increasing demand from various industries, including automotive, electronics, and consumer goods. The company has invested in new production facilities and process enhancements to improve efficiency and supply chain reliability. This initiative aims to strengthen INEOS StyrolutionÄX%$%Xs market position and support its customersÄX%$%X growing requirements for high-performance ABS polymers.
• LG Chem : LG Chem has focused on developing new grades of ABS polymers with enhanced properties, such as impact resistance, heat resistance, and flame retardancy. The companyÄX%$%Xs R&D efforts have resulted in innovative ABS formulations that meet stringent performance standards for applications in automotive parts, electronics housings, and healthcare equipment. LG Chem aims to differentiate itself in the ABS market by offering customized solutions that address specific industry needs and regulatory requirements.
• Chi Mei Corporation : Chi Mei Corporation has implemented sustainability initiatives in ABS production, focusing on reducing environmental impact and promoting circular economy principles. The company has adopted eco-friendly manufacturing practices, including the use of recycled materials and energy-efficient processes in ABS production. Chi Mei CorporationÄX%$%Xs efforts aim to enhance its competitive edge in the global ABS market while contributing to environmental conservation and resource efficiency.
• SABIC : SABIC has been collaborating with industry partners to develop advanced applications for ABS polymers in sectors, such as automotive lightweighting, 3D printing, and electronics. The companyÄX%$%Xs partnerships involve joint R&D projects and technology collaborations to innovate new ABS grades with superior performance attributes and sustainability credentials. SABIC aims to drive innovation and market growth in the ABS segment by leveraging its expertise in polymer science and customer-focused approach to product development.
Features of the Global Acrylonitrile Butadiene Styrene Market
Market Size Estimates: Acrylonitrile butadiene styrene market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Acrylonitrile butadiene styrene market size by type, application, and region in terms of value ($B).
Regional Analysis: Acrylonitrile butadiene styrene market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the acrylonitrile butadiene styrene market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the acrylonitrile butadiene styrene market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the acrylonitrile butadiene styrene market size?
Answer: The global acrylonitrile butadiene styrene market is expected to reach an estimated $37.9 billion by 2030.
Q2. What is the growth forecast for acrylonitrile butadiene styrene market?
Answer: The global acrylonitrile butadiene styrene market is expected to grow with a CAGR of 6.3% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the acrylonitrile butadiene styrene market?
Answer: The major drivers for this market are rising adoption in electronics and electrical appliances, growing popularity in the construction industry, and increasing demand from the automotive sector.
Q4. What are the major segments for acrylonitrile butadiene styrene market?
Answer: The future of the acrylonitrile butadiene styrene market looks promising with opportunities in the appliance, electrical & electronics, automotive, consumer good, and construction markets.
Q5. Who are the key acrylonitrile butadiene styrene market companies?
Answer: Some of the key acrylonitrile butadiene styrene companies are as follows:
• LG Chemicals
• Asahi Kasei
• CHIMEI
• Formosa Plastics
• KUMHO PETROCHEMICAL
• SABIC
• Trinseo
• INEOS Styrolution
• BASF
• DuPont
Q6. Which acrylonitrile butadiene styrene market segment will be the largest in future?
Answer: Lucintel forecasts that opaque is expected to witness the highest growth over the forecast period.
Q7. In acrylonitrile butadiene styrene market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the acrylonitrile butadiene styrene market by type (opaque, transparent, and colored), application (appliances, electrical & electronics, automotive, consumer goods, construction, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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