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Acrylonitrile Butadiene Styrene (ABS) Market Trends

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

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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.

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.