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Acrylonitrile Butadiene Styrene (ABS) Market Analysis

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

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Acrylonitrile Butadiene Styrene Market Analysis

The appliances segment of ABS market is anticipated to exceed USD 15.5 billion by 2032. The soaring demand for home appliances as a result of the customer inclination toward goods with outstanding surface appearance and fire-retardant characteristics is encouraging home appliance firms to employ ABS plastics.

Global Acrylonitrile Butadiene Styrene (ABS) Market Revenue Share by Region

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Asia Pacific acrylonitrile butadiene styrene market is projected to register gains at over 6% through 2032 led by the rapid adoption of ABS in consumer items and the construction sector in developing nations, such as China, India, Indonesia, and South Korea. In July 2022, China Petroleum & Chemical Corporation (SINOPEC), a petroleum refineries firm, partnered with INEOS Styrolution Group GmbH to expand its chemical offerings. As part of the deal, the companies aimed to manage the construction and production of an HDPE plant in China.

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.