Market Reports | Product Report

Acrylonitrile Butadiene Styrene Market worth $39.9 billion by 2028 – At a CAGR of 6.9%

Published: October 13, 2023
Author: TEXTILE VALUE CHAIN

The According to a market research report, the  Acrylonitrile Butadiene Styrene Market by Type (Opaque, Transparent, Colored), Grade (High Impact, Heat Resistant, Electroplatable, Flame Retardant, Blended), Manufacturing Process, Technology, Applications, and Region – Global Forecast to 2028″, size is projected to reach USD 39.9 billion by 2028, at a CAGR of 6.9% from USD 28.6 billion in 2023.. Increasing demand for lightweight, durable, and impact-resistant materials in the automotive, electronics, appliances, and consumer goods sectors is driving the surge in ABS usage. Additionally, cost-effectiveness and ease of customization contribute significantly to its expanding market presence.

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  • 170 Market data Tables
  • 60 Figures
  • 231 Pages and in-depth TOC on “Acrylonitrile Butadiene Styrene Market – Global Forecast to 2028”

This report also provides a comprehensive analysis of the companies listed below:

The major players in Acrylonitrile Butadiene Styrene market include LG Chem Ltd. (South Korea), ChiMei Corporation (Taiwan), INEOS Styrolution (Germany), Petrochina Co Ltd. (China), Formosa Chemicals & Fibre Corporation (Taiwan), Sabic (Saudi Arabia), Toray Industries Inc. (Japan),  Lotte Chemical (South Korea), Versalis (Italy), Kumho Petrochemical (South Korea), BASF SE (Germany), and Covestro AG (Germany), Trinseo(US), Techno UMG Ltd(Japan), Tianjin Dagu Chemical (China) , The Iran Petrochemical Commercial Company (Iran) , Shanghai Gaoqiao Petrochemical Company (China),  IRPC (Thailand), RTP Company (USA) and Ravago Manufacturing (USA), and others.

Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Acrylonitrile Butadiene Styrene market.

Recent Developments in Acrylonitrile Butadiene Styrene Market Industry

  • In May 2023, After the launch of a 450,000 tons/year ABS manufacturing line in September 2021. Chi Mei Corporation is planning to expand its ABS production capacity at the Zhangzhou plant to 600,000 tons/year by 2025.
  • In April 2023, Formosa Chemicals & Fibre Corporation has planned a significant expansion of producing ABS with a projected capacity of 7.43 million tonnes per annum by 2030.
  • In January 2022, INEOS Styrolution expanded its ABS capacity in Wingles, France to produce 50 KT ABS with the aim to meet the increased demand for ABS in Europe from the construction, household, and automotive industries.

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Based on Grade, High impact ABS is the largest segment in the ABS market due to its wide range of applications and superior toughness. It is extensively used in industries like automotive, electronics, appliances, and construction, where impact resistance and durability are crucial. High-impact ABS grade offers superior strength and toughness to withstand harsh environments, making it a preferred choice for various end-use applications.

Based on Technology
, Injection molding is the largest segment in the ABS market due to its versatility and efficiency in producing complex and high-precision parts. ABS’s ease of molding and excellent flow properties make it ideal for injection molding processes, enabling the production of a wide range of components used in the automotive, electronics, appliances, and consumer goods industries. The method’s cost-effectiveness and ability to mass-produce parts contribute to its dominant position.

Based on Region
, North America is the third-largest market after Asia Pacific and Europe for ABS due to its significant demand from industries such as automotive, electronics, and consumer goods. The region’s robust manufacturing sector, technological advancements, and economic growth drive the consumption of ABS for various applications. Additionally, contributing preference for lightweight and durable materials in these industries contributes to the growth of the ABS market in North America.

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