Acrylonitrile Butadiene Styrene (ABS) Market Size, Share, Growth, and Industry Analysis, By Type (General Purpose ABS and Specialty ABS), By Application (Automotive, Household Appliances, Consumer Goods, Electronics and Others) and Regional Forecast to 2033

ACRYLONITRILE BUTADIENE STYRENE (ABS) MARKET REPORT OVERVIEW

The Global Acrylonitrile Butadiene Styrene (ABS) Market size was USD 16145.91 million in 2024 and the market is projected to touch USD 24109.71 million by 2033, exhibiting a CAGR of 4.1% during the forecast period.

Acrylonitrile Butadiene Styrene commonly known as ABS is a highly Thermoplastic polymer that belongs to a group known for its high strength and durability flexibility inclusive. It is a copolymer made from three distinct monomers: The three are; Acrylonitrile is an unsaturated nitrile with the chemical formula C2H3N,Butadiene is an unsaturated hydrocarbon with chemical formula C4H6 and styrene is an unsaturated hydrocarbon which has the chemical formula C8H8.

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COVID-19 IMPACT

"Market Growth restrained by the Pandemic due to Supply Chain Disruptions"

The Global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

There has been disruption of supply chains due to COVID-19 across the globe and this has made it challenging to procure raw material used in the production of ABS. This led to the appearance of short supplies and delay with the different amount of absorption of ABS resin in the market. Again, travel and transportation of ABS products and raw materials were severely affected hence difficulty in delivery and high costs to the manufacturers.

LATEST TRENDS

"Growing Demand for 3D Printing Applications to Propel Market Growth"

One of the trends that affects the ABS market is the increasingly popular application of the material for 3D printing indicating its applicability for additive manufacturing. ABS is preferred in 3D printing as it offers high tensile strength and styd that is essential for both, creating prototypes with high functionality together with the functionality of the end-products. Modern technological development of 3D printing also caused an improvement in the quality of ABS filaments: they are become more consistent and better for details and complex designs.

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ACRYLONITRILE BUTADIENE STYRENE (ABS) MARKET SEGMENTATION

By Type

Based on type the market can be categorized into General Purpose ABS and Specialty ABS.

• General Purpose ABS- Standard ASTM is one of the most popular types of ABS and it has characteristics that are good for all range of uses. Due to this, it is incorporated in most daily products since it is affordable and guarantees efficiency.

• Speciality ABS- Specialty ABS is a term given to ABS formulations that have been altered or further developed in order to suit one or other need for high performance application. These variants are developed to possess improved mechanical and thermal properties or other properties over and above those of General Purpose ABS.

By Application

Based on application the market can be categorized into Automotive, Household Appliances, Consumer Goods, Electronics and Others.

• Automotive- ABS is in the center area used in automotive interior parts like dashboard, instrument panel, trim and bezels. This makes it ideal for use in these areas given that it is rather capable of withstanding impacts, not to mention the fact that it is very hard wearing.

• Household Appliances- It has use in production of durable consumer goods including washing machines, refrigerator, vacuum cleaners, microwave ovens and the like.

• Consumer Goods- This material is commonly used in the toy industry because it is safe, strong and flexible and can be extruded in any shape. Some of the examples include toy bricks such as LEGO as well as action figures.

• Electronics- Some of the applications of ABS are in the manufacture of the housings and enclosures of electronic devices such as computers, televisions and smartphones. It has been observed to afford special shelter to sophisticated electronic detail and augment the general sturdiness of the apparatus.

Driving Factors

"Growing Automotive Industry to Drive Market Advancement"

One of the key driving factors in the Acrylonitrile Butadiene Styrene (ABS) Market growth is the Growing Automotive Industry. The automotive industry is the most crucial in the global product›s demand since Acrylonitrile Butadiene Styrene (ABS) are used in car manufacturing as they grow. ABS is more preferred in automobile industries since it offers features such as impact resistance, durability and also ease in forming intricate parts thus it is used in elements including dash boards, trims, bumpers, and grille inserts among others.

"Rising Demand for Consumer Electronics to Expand the Market"

Increased consumers’ demand for electronics goods is also a key factor that has compelled increased demand for ABS because of its versatile applications within electronic equipment. Due to the continued growth of the consumer electronics market fueled by technological innovations and growth in consumerism spending on gadgets like smart phones, laptops and home appliances, demands for robust and quality materials like ABS emerged.

Restraining Factor

"Environmental and Regulatory Concerns to Market Growth"

The main challenges that hinder the growth of ABS market are environmental and regulatory issues. The awareness of the impact of their social and natural environment is on the rise and thus placing pressure on industries to minimize their impact on the environment. ABS, similar to all the materials of petroleum origin, is dangerous for the environment in the process of its production and in utilization because it degrades into different pollutants.

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ACRYLONITRILE BUTADIENE STYRENE (ABS) MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"Asia Pacific to Dominate the Market due to Rapid Industrialization and Urbanization"

Asia Pacific has emerged as the most dominant region in the Acrylonitrile Butadiene Styrene (ABS) Market share due to a convergence of factors that propel its leadership in this dynamic industry. Many of the countries for instance China and India located in Asia pacific region remain in the process of industrialization and urbanization. This increases the need for use of ABS within the automobile industry, construction industry and the consumer market.

KEY INDUSTRY PLAYERS

"Key Players Transforming the Acrylonitrile Butadiene Styrene (ABS) Landscape through Innovation and Global Strategy"

Major industry players are pivotal in shaping the Acrylonitrile Butadiene Styrene (ABS) Market, driving change through a dual strategy of continuous innovation and a well-thought-out global presence. By consistently introducing inventive solutions and staying at the forefront of technological progress, these key players redefine the industry's standards. Simultaneously, their expansive global reach enables effective market penetration, addressing diverse needs across borders. The seamless blend of groundbreaking innovation and a strategic international footprint positions these players as not only market leaders but also as architects of transformative shifts within the dynamic domain of Acrylonitrile Butadiene Styrene (ABS).

List of Market Players Profiled

• LG Chem(South Korea)
• Formosa(Taiwan)
• Lotte Chemical(South Korea)
• INEOS Styrolution (Germany)
• Toray (Japan)

INDUSTRIAL DEVELOPMENT

June 2021: Nexeo Plastics and Covestro have introduced their newest Polycarbonate/ABS 3D printing filament Addigy FPB 2684 3D. Starting from now, this filament can be purchased on Nexeo Plastics’ distribution portal. With this launch, the company will keep on investing and increasing on the 3D printing product series and services.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated time frame. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.