Ocean View, Delaware, Aug. 30, 2016 (GLOBE NEWSWIRE) -- Acrylonitrile Butadiene Styrene Market size was worth USD 38 billion by 2024; according to a new research report by Global Market Insights, Inc.
Positive outlook towards lightweight & high-performance plastics owing to their flexible features having employability across various applications should drive global acrylonitrile butadiene styrene market size growth. Providing customized designs and finished products with strength equivalent to steel are the key features driving ABS demand.
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ABS market buyers include plastic assembling organizations that manufacture plastic components for industries like construction, automotive, electrical & electronics, and appliances. North America demand is mainly driven by electrical & electronics industry growth. In terms of revenue, the segment was worth over USD 700 million in 2015. U.S. acrylonitrile butadiene styrene market size has witnessed significant growth due to rising demand from appliances and electronic & electric goods.
Product innovation and development in home appliances and consumer electronic goods supported by the presence of major manufacturing companies is anticipated to stimulate the regional growth. U.S. ABS demand for appliance applications was valued at over USD 570 million in 2015.
Electric & electronics industry has witnessed immense growth since past few years; the rise in consumer purchasing power and change in living style are major factors positively influencing this industry’s progress. The application may observe growth of over 3% up to 2024.
Aesthetic appearance properties, design flexibility, and corrosion resistance are key features enhancing acrylonitrile butadiene styrene demand. Major electric & electronics production lines include personal computers, telephones, television, radio, and printers.
Europe backed by the UK and Germany acrylonitrile butadiene styrene market size may observe notable growth. The region expects highest progress in the automotive sector with over 4% growth up to 2024.
The presence of various alternatives, including polystyrene (PS), polypropylene (PP), polyurethane (PU), high impact polystyrene (HIPS), and general purpose polystyrene (GPPS), accompanied by raw material issues may affect acrylonitrile butadiene styrene market price trend.
Browse key industry insights spread across 150 pages with 50 market data tables & 10 figures& charts from the report, “Acrylonitrile Butadiene Styrene (ABS) Market Size By Application (Electrical and Electronics, Appliances, Automotive, Construction, Consumer Goods), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Poland, Russia, China, India, Japan, Taiwan, South Korea, Indonesia, Thailand, Brazil, Argentina, Mexico, South Africa, UAE, Saudi Arabia, Egypt), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/acrylonitrile-butadiene-styrene-ABS-market
Key insights from the report include:
- APAC acrylonitrile butadiene styrene market in automotive applications was valued at over USD 2 billion in 2015. Automotive production capacity expansion in China, Taiwan, India, Indonesia, and Thailand should fuel regional growth.
- Consumer goods application may witness a growth of over 3% CAGR. Rising demand for plastic boxes, luggage bags, protective headgears, and toys should influence ABS demand in this application.
- Latin America with automotive industry growth in Mexico, Argentina, and Brazil may observe strong gains. Brazil automotive applications are projected to grow at over 2%.
- With a highly competitive industry, strong buyer leverage has had an impact on profitability, the scope of offering customized designs, enhancing vehicle aesthetics makes will be critical. Moreover, it helps in reducing GHG emissions being lightweight and has made a positive impact on environment regulatory bodies.
- Global acrylonitrile butadiene styrene market share is consolidated as top four companies held over 60% in 2015. Major industry participants are Chei Mei Corporation, LG Chemical, Styrolution, Kumho Petrochemical Company, and Formosa Plastic Company.
- Key players in the ABS industry are steadily consolidating, with mergers and acquisitions, which is the most straightforward alternative for expanding and diminishing rivalry. For instance, BASF has a joint endeavor with Ineos called Styrolution, which consolidates the styrenic business of both the organizations.
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Global Market Insights has segmented the acrylonitrile butadiene styrene industry on the basis of application and region:
- Acrylonitrile butadiene styrene application Analysis (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
- Appliances
- Electrical & Electronics
- Automotive
- Consumer goods
- Construction
- Others (recorders, plastic clarinets, packaging, and lawn and garden equipment products)
- Insulated Concrete Forms Regional Analysis (Volume, Million Square Foot; Revenue, USD Million, 2013 - 2024)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Poland
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Thailand
- Indonesia
- Taiwan
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- UAE
- Saudi Arabia
- Egypt
- North America
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.