NEW YORK, March 07, 2023 (GLOBE NEWSWIRE) -- Research firm IndexBox has published a new report on the global Acrylonitrile-Butadiene-Styrene (ABS) Copolymers market, providing market analysis, forecasts, trends, and insights for the period of 2021-2030. The report is now available on the IndexBox platform with trial access to market data.
According to the report, the global ABS Copolymers market is expected to continue its growth trajectory, with a projected compound annual growth rate (CAGR) of 4.1% from 2021 to 2030. The growth is mainly attributed to the increasing demand for lightweight and high-performance materials in various end-use industries.
The key growth drivers for the ABS Copolymers market include the increasing demand for electrical and electronic products, the growth of the automotive industry, and the rise in the construction sector. However, the market also faces some challenges such as environmental concerns regarding plastic waste and fluctuating raw material prices.
The report highlights that the major factors affecting the demand for ABS Copolymers include the increasing demand for sustainable and eco-friendly materials, technological advancements, and the growing trend of 3D printing.
The report provides an overview of the major consuming industries, including automotive, electrical and electronics, construction, and others, and how they are accepting the market. The automotive industry is the largest consumer of ABS Copolymers, accounting for over 30% of the total consumption in 2022.
The Asia Pacific region is the largest market for ABS Copolymers, with China and Japan being the major contributors to the market growth. The report projects that the Asia Pacific market will continue to dominate the market with a significant growth rate during the forecast period.
The report also includes key statistics and mentions the top five manufacturers in the industry, which are LG Chem, INEOS Styrolution, SABIC, Chi Mei Corporation, and Formosa Plastics Corporation.
According to Aleksandr Romanenko, CEO of IndexBox, "The ABS Copolymers market is experiencing a period of significant growth due to the demand for high-performance materials across multiple industries. Our report provides comprehensive insights into the market trends, growth prospects, and key players, enabling businesses to make informed decisions."
For more information on the report, visit https://www.indexbox.io/store/world-acrylonitrile-butadiene-styrene-abs-copolymers-in-primary-forms-market-analysis-forecast-size-trends-and-insights/
