Wilmington, Delaware, Oct. 20, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s recent industry analysis, the Global Acrylonitrile Butadiene Styrene (ABS) Market value is US$ 23 billion in 2023 and is expected to rise at a strong CAGR of over 4.9% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
Acrylonitrile Butadiene Styrene, often known as ABS, is a thermoplastic polymer created by polymerizing styrene and acrylonitrile in the presence of polybutadiene. It is a versatile engineering plastic that combines the strength and stiffness of acrylonitrile and styrene polymers with the toughness of polybutadiene rubber.
ABS is widely employed in the automobile sector for a variety of interior and exterior components, which contributes to its rapid market expansion. Its lightweight nature also contributes to vehicle weight reduction, which improves fuel efficiency.
- According to a deep-dive market assessment by RationalStat, the global Acrylonitrile Butadiene Styrene (ABS) market has been analyzed on the basis of market segments, including type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global Acrylonitrile Butadiene Styrene (ABS) market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global Acrylonitrile Butadiene Styrene (ABS) market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Acrylonitrile Butadiene Styrene (ABS) Market: Segmental and Market Share Analysis
- Based on type, opaque segment is dominating the global acrylonitrile butadiene styrene (ABS) market due to its wide-ranging applications in various industry.
- Based on region, due to a variety of variables, Asia Pacific is the fastest expanding area in the ABS industry. ABS is in high demand in the region due to the region's thriving automotive, electronics, and appliances industries.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 23 billion |
| Market Size Forecast | US$ 32.3 billion |
| Growth Rate | 4.9% |
| Dominant Segment | Opaque |
| Dominant Region | Asia Pacific |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global acrylonitrile butadiene styrene (ABS) market include,
- 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.
Some of the prominent players and suppliers operating and contributing significantly to the global acrylonitrile butadiene styrene (ABS) market growth include LG Chem Ltd., Asahi Kasei Corporation, CHIMEI Corporation, Formosa Plastics Corporation, Kumho Petrochemical, Co. Ltd., Saudi Basic Industries Corporation (SABIC), Trinseo, INEOS Styrolution Group GmbH, BASF SE, and DuPont de Nemours Inc., among others.
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RationalStat has segmented the global acrylonitrile butadiene styrene (ABS) market based on type, application and region
- Global Acrylonitrile Butadiene Styrene (ABS) Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Type
- Opaque
- Transparent
- Colored
- Global Acrylonitrile Butadiene Styrene (ABS) Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Application
- Appliances
- Electrical and Electronics
- Automotive
- Consumer Goods
- Construction
- Others
- Global Acrylonitrile Butadiene Styrene (ABS) Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Region
- North America Acrylonitrile Butadiene Styrene (ABS) Market
- US
- Canada
- Latin America Acrylonitrile Butadiene Styrene (ABS) Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Acrylonitrile Butadiene Styrene (ABS) Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Acrylonitrile Butadiene Styrene (ABS) Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Acrylonitrile Butadiene Styrene (ABS) Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Acrylonitrile Butadiene Styrene (ABS) Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Acrylonitrile Butadiene Styrene (ABS) Market
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Key Questions Answered in the Acrylonitrile Butadiene Styrene (ABS) Report:
- What will be the market value of the global acrylonitrile butadiene styrene (ABS) market by 2030?
- What is the market size of the global acrylonitrile butadiene styrene (ABS) market?
- What are the market drivers of the global acrylonitrile butadiene styrene (ABS) market?
- What are the key trends in the global acrylonitrile butadiene styrene (ABS) market?
- Which is the leading region in the global acrylonitrile butadiene styrene (ABS) market?
- What are the major companies operating in the global acrylonitrile butadiene styrene (ABS) market?
- What are the market shares by key segments in the global acrylonitrile butadiene styrene (ABS) market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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