What is Acrylonitrile Butadiene Styrene Market?
Acrylonitrile Butadiene Styrene (ABS) is a thermoplastic polymer occurs as amorphous powder. It is manufactured by polymerization of acrylonitrile & styrene in the presence of Polybutadiene, resulting a long chain ABS polymer. It is a shiny plastic with a waterproof surface, and exhibits some vital mechanical properties including a greater impact, heat resistance & durability. ABS can be simply modified with alteration of its basic properties as per its applications in particular industry. It can be ABS can be manufactured in different types depending on the grades. Among them, one is the ABS for extrusion, and another one is ABS for injection molding. ABS is majorly used in the manufacturing of rigid, light, and molded parts for numerous major end-use industries such as automotive, building & construction, sports, consumer goods, & electronics.
The market study is being classified, by Application (Consumer Goods, Appliances, Automotive, Construction, Electrical and Electronics, Sports Equipment, Musical Instruments, and Others) and major geographies with country level break-up. According to AMA, the Global Acrylonitrile Butadiene Styrene market is expected to see growth rate of 6.1%
LG Chem. (South Korea), INEOS Styrolution Group GmbH (Germany), Trinseo (United States), Kumho Petrochemical Co., Ltd (South Korea), Formosa Chemicals & Fibre Corp. (Taiwan), SABIC (Saudi Arabia), BASF SE (Germany), TORAY INDUSTRIES INC. (Japan), Ravago Americas LCC (United States) and Mitsui Chemicals, Inc. (Japan) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Covestro AG (Germany), Chi Mei Corporation (Taiwan) and Asahi Kasei Corporation (Japan).
In February 2019, INEOS Styrolution Group GmbH has announced the introduction of its new Styroflex® 4G80 grade. Styroflex 4G80 is an S-TPE (styrene thermoplastic elastomer) which combines transparency, elasticity, & excellent processability making it suitable for extrusion applications. These properties makes Styroflex 4G80 an attractive option for tubing applications. It is an admirable product choice for customers considering to expand their portfolio to include next generation materials. This new product launch will help the company to remain competitive in the market over the coming years. Research Analyst at AMA predicts that German, South Korea, Japanese and United States Vendors will contribute to the maximum growth of Global Acrylonitrile Butadiene Styrene market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Acrylonitrile Butadiene Styrene market by Type, Application and Region.
On the basis of application, Automotive segment is dominating the market in the year 2019
On the basis of geography, the market of Acrylonitrile Butadiene Styrene has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rapidly rising demand in electronics & electrical applications
- Improved integration of high performance plastics in the automotive industry for sustainable measures
Market Trend
- Rising demand from various end use industries
Restraints
- Emission of solid waste gases during manufacturing process of ABS resins affecting human health
Opportunities
- Growing Construction Industry in Asia-Pacific Region
- Potential opportunities in Untapped Markets
Challenges
- The development of sustainable alternatives to ABS resin
Key Target Audience
Acrylonitrile Butadiene Styrene Manufacturers, Acrylonitrile Butadiene Styrene Traders & distributors, Research and development institutes, Potential investors, Raw material suppliers, Government and Research Organizations, Industry Associations, Electrical & Electronics manufacturers, Consumer Goods manufacturers, Automotive Industry and Others
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