Acrylonitrile Butadiene Styrene Market Share

Global Acrylonitrile Butadiene Styrene Market Overview

The  Acrylonitrile Butadiene Styrene Market Size was valued at USD 21.31 Billion in 2022. The Low-Profile Additives market industry is projected to grow from USD 24.1 Billion in 2023 to USD 57.24 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.7% during the forecast period (2023 - 2030). Acrylonitrile Butadiene Styrene (ABS) is a rigid thermoplastic polymer that provides properties such as flexibility, resilience to temperature, and good appearance. These materials have major applications in the electronic appliances and automotive sectors, where they are used for vehicles and auto parts manufacturing. Other applications include the usage of ABS in the construction industry, electronics industry, consumer goods, and the manufacturing of household appliances. The high demand for ABS polymer can be associated with the high demand for plastics from the aforementioned end-use industries. The rising demand from the medical industry is also supporting the growth of the ABS market due to the spread of the coronavirus, which in turn is leading to high demand for medical equipment such as insulin pens, respiratory devices, miniature implants, and others. All these factors are driving the demand for ABS, thus supporting the market’s growth.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Acrylonitrile Butadiene Styrene Market Trends

• 
  

  Increasing Demand for Lightweight Vehicles Shall Support the Growth of the Market.

  
  

The increasing demand from consumers for lightweight vehicles has led to innovation in the automotive industry which acts as a driving factor for the growth of the ABS market. The high growth rate of the population has contributed to the increasing demand for efficient automobiles. These materials are used for various applications in an automobile, such as bumpers, exterior panels, dashboards, and others. The highly beneficial properties of ABS make the material ideal for use in the making of lightweight vehicles, thus creating high demand and propelling the market. Moreover, the growth in other sectors such as appliance manufacturing, construction, consumer goods, and electronics is also a major factor supporting the market’s growth.

Additionally, The adoption of lightweight vehicles is increasing worldwide due to the rising demand for fuel efficiency to control CO2 emissions. ABS materials are used for the manufacturing of various auto parts such as bumpers, interiors, seating, center consoles, and others. The extensive utilization of these materials in the automotive industry is mainly due to their excellent properties, such as chemical resistance, lightweight density, and high strength. ABS is also used for airplane panels, interiors, and compartments. Moreover, the pandemic has further increased the demand for ABS in the medical and consumer goods industries for applications such as medical equipment and household appliance manufacturing. The growing rate of population has also led to an increase in construction activities worldwide, which is further driving the market growth of acrylonitrile butadiene styrene (ABS).

Acrylonitrile Butadiene Styrene Market Segment Insights

Acrylonitrile Butadiene Styrene Application Insights

The  Acrylonitrile Butadiene Styrene market segmentation, based on application, includes appliances, automotive, consumer goods, construction, electronics, and others. The appliances segment dominated the market due to the high demand for appliances such as safety helmets, sports equipment, vacuum cleaner, cameras, and telephones. The technological advancements in electrical and electronics have led to high demand for the aforementioned finished products. Moreover, ABS is a good substitute for PVC, where it can be used for construction applications such as tubes and pipes, flooring, and others.

Figure 2:  Acrylonitrile Butadiene Styrene Market, by Application, 2023 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Acrylonitrile Butadiene Styrene Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America is estimated to have a significant revenue share in the market, which can be associated with rapid technological advancements, innovations, and the high spending power of consumers in the region. The increased production of and demand for cost-efficient and lightweight automobiles from consumers and the growth in the construction industry have been the leading factors for the development of the regional market. This growing demand is supported by the high economic status of countries in the region, which in turn is driving the ABS market. Moreover, the demand from the medical industry during the pandemic has also been supporting the market for acrylonitrile butadiene styrene.

Figure 3:  ACRYLONITRILE BUTADIENE STYRENE MARKET SHARE BY REGION 2023 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Asia Pacific dominated the acrylonitrile butadiene styrene market share and is estimated to have a value of USD 14,244.2 million in 2019, which can be attributed to the increasing demand for ABS materials from various end-use industries that include automobile, construction, and others. The economic development of countries such as China and India has led to substantial growth in the region’s construction industry, additionally driven by improvements in lifestyles and government infrastructure projects. China dominated the Asia Pacific region due to high population growth and rising disposable incomes. Moreover, a growing middle-class population is further fueling the demand for cost-effective and lightweight automobiles

Europe is expected to exhibit considerable growth during the forecast period. This growth can be linked to the rising demand for efficient, lightweight automobiles from a diverse set of consumers. Improving consumer lifestyles and technological innovations are the key drivers for the increasing demand for automobiles offering fuel efficiency and creating market opportunities. Germany is one of the major countries for automotive manufacturing, and the economic growth within the country is supporting the development of cost- and fuel-efficient solutions in the automotive industry.

Acrylonitrile Butadiene Styrene Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Acrylonitrile Butadiene Styrene market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Acrylonitrile Butadiene Styrene industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Acrylonitrile Butadiene Styrene. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Acrylonitrile Butadiene Styrene industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the  Acrylonitrile Butadiene Styrene industry to benefit customers and expand the market sector. The Acrylonitrile Butadiene Styrene market has recently given medicine some of the most important advantages. Major Acrylonitrile Butadiene Styrene market players, including Toefco Engineered Coating Systems, Inc. (U.S.), BASF SE (Germany), DowDuPont (U.S.), AkzoNobel N.V. (The Netherlands), The Valspar Corporation (U.S.) and others, are attempting to increase market demand by funding R&D initiatives.

BASF is a company that provides petrochemicals, intermediates, performance materials, monomers, dispersions and pigments, performance chemicals, catalysts, coatings, and care chemicals. It conducts its operations through six business segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition and Care, and Agricultural Solutions. The company serves transportation, energy, and resources.

Also, DowDuPont is a chemical holding company that specializes in agriculture, materials science, and specialty products. Its solutions include seed-applied technologies, crop protection, performance materials and coatings, industrial intermediates, specialty plastics, imaging, biotechnology, nutrition ingredients, construction materials, sustainable solutions, advanced polymers, etc. It serves agriculture, automotive, and building.

Key Companies in the Acrylonitrile Butadiene Styrene market include

• TORAY INDUSTRIES INC. (Japan)


• KUMHO PETROCHEMICAL (South Korea)


• Ravago Americas (U.S.)


• SABIC (Saudi Arabia)


• Trinseo (U.S.)


• BASF SE (Germany)


• INEOS Styrolution (Germany)


• Formosa Chemicals & Fibre Corp. (Taiwan)


• LG Chem. (South Korea)


• Mitsui Chemicals Inc. (Japan)

Acrylonitrile Butadiene Styrene Industry Developments

In September 2021, Ineos Styrolution, a European styrenics producer, announced the launch of its first specialty acrylonitrile-butadiene-styrene with recycled content. The new specialty ABS grades, Novodur ECO and NovodurECO High Heat will consist of 50% and 70% mechanically recycled post-consumer waste, respectively. The company said that the latest products have similar mechanical properties to their virgin ABS counterparts; Novodur High Heat and Novodur can be utilized as drop-in solutions in their respective applications. The company already generates TerluranECO, a general-purpose ABS Terluran brand with a recycled ABS matter of up to 70%.

October 2021, Avient Corporation, a  manufacturer of specialized polymer materials headquartered in Avon Lake, Ohio, announced new Gravi-Tech density-modified thermoplastics that allow advanced metal plating surface treatments to provide both the look and feel of metal in premium packaging applications. The portfolio expansion includes 15 grades appropriate for electroplating, and physical vapor deposition (PVD) processes built to meet the rising luxury packaging industry requirements for a cost-effective alternative to metal. The high-density materials can produce a range of enhanced metallic finishes to add visual appeal, which denotes value and high quality. Additionally, these materials offer the design freedom and manufacturing ease of thermoplastics in applications such as luxury boxes, caps, and closures.

Acrylonitrile Butadiene Styrene Market Segmentation

Acrylonitrile Butadiene Styrene Application Outlook

• Appliances


• Electrical & Electronics


• Automotive


• Building & Construction


• Consumer Goods


• Sports Equipment


• Musical Instruments


• Others

Acrylonitrile Butadiene Styrene Regional Outlook

• 
  North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• 
  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America