The North America Acrylonitrile Butadiene Styrene Market would witness market growth of 5.8% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 1,327.6 kilo tonnes, showcasing a growth of 22.0% (2020-2023).
In the Acrylonitrile Butadiene Styrene (ABS) market, High Impact grade refers to a specialized form of ABS resin engineered to withstand significant mechanical stress and impact without fracturing or breaking. This grade of ABS is distinguished by its superior toughness and durability, making it ideal for applications where impact resistance is crucial. Thus, the US market consumed 616.1 kilo tonnes of high impact grade chemical in 2023.
The US market dominated the North America Acrylonitrile Butadiene Styrene Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $8,848.7 million by 2031. The Canada market is experiencing a CAGR of 8.1% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 7.8% during (2024 - 2031).
The acrylonitrile butadiene styrene market refers to the market for ABS plastic, which is a thermoplastic polymer made by polymerizing styrene and acrylonitrile in the presence of polybutadiene. ABS is known for its excellent mechanical properties, impact resistance, and dimensional stability, making it suitable for a wide range of applications across various industries.
ABS finds extensive use in numerous applications across several industries owing to its favorable combination of properties. For example, ABS is widely used in the automotive sector for manufacturing interior and exterior components, such as dashboard panels, door trims, bumper fascias, and grilles. Its excellent impact resistance, durability, and ability to be easily molded into complex shapes make it well-suited for automotive applications.
As construction activities increase in Canada, there is a higher demand for building materials, including ABS-based products such as pipes, fittings, profiles, and insulation materials. According to Statistics Canada, building construction investment rose 1.7% to $19.8 billion in November 2023. The residential sector grew 2.2% to $13.7 billion, while non-residential sector investment increased 0.4% to $6.0 billion. Likewise, as automotive production increases in Mexico, there is a higher demand for ABS-based components and parts used in vehicle manufacturing. According to the International Trade Administration (ITA), Mexico is the world’s seventh-largest passenger vehicle manufacturer, producing 3.5 million vehicles annually. Eighty-eight percent of vehicles produced in Mexico are exported. Mexico is the world’s fifth-largest manufacturer of heavy-duty vehicles for cargo, hosting 14 manufacturers and assemblers of buses, trucks, and tractor trucks, as well as two manufacturers of engines. Hence, the market is growing due to the region’s strong vehicle manufacturing and the rise of construction activities.
Free Valuable Insights: The Acrylonitrile Butadiene Styrene Market is Predict to reach USD 44.5 Billion by 2031, at a CAGR of 6.5%
Based on Type, the market is segmented into Opaque, Transparent, and Colored. Based on Manufacturing Process, the market is segmented into Emulsion Polymerization, Continuous Polymerization, Mass Polymerization, and Others. Based on Grade, the market is segmented into High Impact, Heat Resistant, Electroplatable, Flame Retardant, and Blended ABS. Based on Technology, the market is segmented into Injection Molding, Extrusion, Thermoforming, Blow Molding, and 3D Printing. Based on Application, the market is segmented into Appliances, Automotive, Electrical & Electronics, Consumer Goods, Construction, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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 Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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