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Acrylonitrile Butadiene Styrene (ABS) Market - By Application (Appliances, Electrical and Electronics, Automotive, Consumer Goods, Construction), By Region & Global Forecast, 2023 – 2032

  • Report ID: GMI734
  • Published Date: Feb 2023
  • Report Format: PDF

Acrylonitrile Butadiene Styrene Market Size

Acrylonitrile Butadiene Styrene Market size valued at USD 10 billion in 2022 and is set to grow at over 4.5% CAGR from 2023 to 2032, owing to the booming home appliance industry.

Acrylonitrile Butadiene Styrene Market

Significant demand for lightweight automobiles to attain improved fuel efficiency is escalating the need for ABS in the automotive sector. The acrylonitrile butadiene styrene industry is highly influenced by the increased preference of OEMs and aftermarket players for high strength and thin material compared to the traditional metals in automotive parts due to reduced carbon emissions and design freedom.

Furthermore, an upsurge in home appliance demand is fostering product adoption. The growth of appliance assembly plants, especially in the APAC region, is primarily accelerating product penetration in the home appliances sphere. The rising uptake of insulating materials such as silicone elastomers that provide high levels of corrosion resistance, toughness, durability, and resilience are benefitting acrylonitrile butadiene styrene market outlook.

Acrylonitrile Butadiene Styrene Market Trends

Environmental concerns regarding the usability of plastic are a major factor restraining market demand. Petrochemicals used to create ABS are non-renewable and non-biodegradability, which could be hazardous to the environment. Moreover, the heavy number of carcinogens present in ABS is also hampering business expansion, especially in Europe. Nonetheless, the mounting demand for high-performance materials in the construction industry is likely to aid manufacturers in overcoming this issue.  

Acrylonitrile Butadiene Styrene Market Analysis

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of acrylonitrile butadiene styrene exceeded USD 10 billion in 2022 and is speculated to progress at a 4.5% CAGR through 2032 owing to significant demand for lightweight automobiles to attain improved fuel efficiency and the flourishing home appliance market.

The appliances segment is anticipated to reach USD 15.5 billion by 2032 due to the mounting customer inclination toward goods with outstanding surface appearance and fire-retardant characteristics, which is fueling home appliance sales.

APAC ABS industry is slated to depict more than 6% growth rate between 2023 and 2032 on account of the rapid adoption of ABS in consumer items and the construction sector in developing nations, such as China, India, Indonesia, and South Korea.

The key firms involved in the ABS market report are CHIMEI, Asahi Kasei Corporation, China Petroleum & Chemical Corporation (SINOPEC), and SABIC, which primarily engage in R&D programs and portfolio expansion initiatives.

Acrylonitrile Butadiene Styrene Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 268
  • Countries covered: 22
  • Pages: 250
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