“Global Acrylonitrile Butadiene Styrene Market to reach a market value of USD 44.5 Billion by 2031 growing at a CAGR of 6.5%”
The Global Acrylonitrile Butadiene Styrene Market size is expected to reach $44.5 billion by 2031, rising at a market growth of 6.5% CAGR during the forecast period. In the year 2023, the market attained a volume of 8,820.3 Kilo Tonnes experiencing a growth of 22.7% (2020-2023).
North America is home to a thriving electronics industry, with significant demand for ABS in electronic enclosures, housings, and components. The region’s robust consumer electronics market and the growth of industries such as telecommunications and IT drive the demand for ABS in electronic devices. Consequently, the North American region would acquire nearly 30% of the total market share by 2031. Also, the US market would consume 1,379.9 kilo tonnes of opaque Acrylonitrile Butadiene Styrene by 2031.
Ports worldwide are experiencing a trend towards larger vessels, including container ships and bulk carriers, driven by economies of scale in maritime shipping. In addition, ports are crucial hubs for international trade, serving as gateways for goods movement between countries and regions. Thus, increasing demand for port infrastructure is driving the market's growth.
Additionally, Coastal erosion, exacerbated by sea level rise and extreme weather events associated with climate change, threatens coastal communities, infrastructure, and ecosystems. Similarly, this equipment plays a crucial role in beach nourishment projects by sourcing and depositing sand onto eroded beaches to restore their natural profile and recreational value. Therefore, coastal protection and climate change adaptation propel the market's growth.
However, this equipment, such as cutter suction dredgers (CSDs), trailing suction hopper dredgers (TSHDs), and other specialized machinery, are highly sophisticated and require significant capital investment. Likewise, smaller companies and new market entrants often struggle to secure the capital to invest in expensive equipment. Hence, high initial investment costs are driving the growth of the market.
On the basis of type, the market is segmented into opaque, transparent, and colored. In 2023, the transparent segment attained a 26.2% revenue share in the market. In terms of volume, the segment registered 2,158.8 kilo tonnes in 2023. Transparent ABS grades offer a visually appealing alternative to traditional opaque materials, providing a modern and sleek appearance to products and components.
Based on manufacturing process, the market is categorized into emulsion polymerization, mass polymerization, continuous polymerization, and others. The mass polymerization segment witnessed 18% revenue share in the market in 2023. In terms of volume, the segment registered 1,452.7 kilo tonnes in 2023. Mass polymerization offers better control over the quality of the ABS produced. This ensures that the final product meets the required specifications and performance standards, leading to increased demand from industries prioritizing product quality.
Based on grade, the market is divided into high impact, heat resistant, flame retardant, electroplatable, and blended ABS. The flame retardant segment attained 17% revenue share in the market in 2023. In terms of volume, the segment registered 1,435.9 kilo tonnes in 2023. Flame retardant ABS materials offer superior fire resistance to standard ABS resins, protecting ignition, flame spread, and smoke generation.
By technology, the market is divided into extrusion, injection molding, blow molding, thermoforming, and 3D printing. The extrusion segment procured a 21% revenue share in the market in 2023. ABS is a recyclable thermoplastic, and extrusion processes can be designed to incorporate recycled ABS materials, contributing to sustainability goals and reducing environmental impact.
Based on application, the market is divided into appliances, electrical & electronics, automotive, consumer goods, construction, and others. In 2023, the electrical & electronics segment procured 22% revenue share in the market. ABS maintains its dimensional stability over various temperatures, making it ideal for electronic enclosures and housings subject to temperature variations during operation.
Free Valuable Insights: Global Acrylonitrile Butadiene Styrene Market size to reach USD 44.5 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region witnessed 38% revenue share in the market in 2023. The automotive industry in the Asia Pacific region is one of the largest and fastest growing in the world. As vehicle production and sales continue to increase in countries like China, India, and Japan, so does the demand for ABS for automotive components such as bumpers, interior trim, and exterior panels.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 27.1 Billion |
| Market size forecast in 2031 | USD 44.5 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 6.5% from 2024 to 2031 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2020 to 2031 | Number of Pages | 576 |
| Tables | 1210 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Manufacturing Process, Grade, Technology, Application, Region |
| Country scope |
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| Companies Included | SABIC (Saudi Arabian Oil Company), BASF SE, Formosa Plastics Group, DuPont de Nemours, Inc., Kumho P&B Chemicals., Inc (Kumho Petrochemical Group), CHIMEI Corporation, Trinseo PLC, PetroChina Company Limited (China National Petroleum Corporation), Asahi Kasei Corporation and INEOS Styrolution Group GmbH |
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Manufacturing Process (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Grade (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Technology (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
This Market size is expected to reach $44.5 billion by 2031.
Rapid urbanization and infrastructure development are driving the Market in coming years, however, Fluctuating raw material prices restraints the growth of the Market.
SABIC (Saudi Arabian Oil Company), BASF SE, Formosa Plastics Group, DuPont de Nemours, Inc., Kumho P&B Chemicals., Inc (Kumho Petrochemical Group), CHIMEI Corporation, Trinseo PLC, PetroChina Company Limited (China National Petroleum Corporation), Asahi Kasei Corporation and INEOS Styrolution Group GmbH
In the year 2023, the market attained a volume of 8,820.3 Kilo Tonnes experiencing a growth of 22.7% (2020-2023).
The Emulsion Polymerization segment is generating the highest revenue in the Market by Manufacturing Process in 2023; thereby, achieving a market value of $17.2 billion by 2031.
The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $17.5 billion by 2031.
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