Acrylonitrile Butadiene Styrene Market By Applications (Appliances, Electrical & Electronics, Automotive, Building & Construction, Consumer Goods, Sports Equipment, Musical Instruments, And Others) And By Region Till 2023
The key vendors making a mark in the global acrylonitrile butadiene styrene market include TORAY INDUSTRIES INC. (Japan), Ravago Americas (U.S.), Trinseo (U.S.), KUMHO PETROCHEMICA (South Korea), Formosa Chemicals & Fibre Corp. (Taiwan), SABIC (Saudi Arabia), LG Chem. (South Korea), BASF SE (Germany), Mitsui Chemicals Inc. (Japan), INEOS Styrolution (Germany), among others.
Market Drivers and Top Restraints
The growing use of acrylonitrile butadiene styrene in appliances, consumer goods, construction and automotive ancillaries, on account of its light weight and high strength will be responsible for the positive outlooked showcased by the market in the coming years. Also, one of the main reasons behind the accelerated demand for lightweight automotive materials is the concern over increasing CO2 emissions. As per the International Energy Agency (IEA), the greenhouse gas emissions are predicted to reach 3.1 metric gigatons by the year 2020. This factor is most likely to augment the demand for lightweight parts within the automotive industry, thereby the demand for acrylonitrile butadiene styrene over the next few years.
Moreover, the increasing product demand from the automotive sector in numerous countries such as India, South Korea, Malaysia, and Indonesia will bear good news for the market in the years to come. Adding on, strong sales of passenger cars, motorcycles and commercial cars are also exhibited to promote the market expansion from 2017 to 2023.
Acrylonitrile butadiene styrene (ABS) finds extensive application as automotive interior components like center console, trims, headliners, interior grills, and interior as well as exterior mirrors. The progressively expanding automotive industry across the globe will leave a positive impact on the growth of the market in the next few years.
Market Research Future (MRFR) reports that the Acrylonitrile Butadiene Styrene Market is striving to attain higher levels of revenue by the end of 2023. The market size will be expanding at a significant growth rate throughout the forecast period (2017-2023).
The market for acrylonitrile butadiene styrene is segmented into application, which is sub-segmented into appliances, electrical & electronics, automotive, building & construction, consumer goods, sports equipment, musical instruments, and others. ABS helps provide exceptional insulation as well as impact resistance, on account of which it can be used in household appliances along with consumer goods like control panels, food processors, vacuum cleaners and refrigerator liners. Thus, based on these factors, the appliances segment will be capturing the highest share of the global ABS market, throughout the review period.
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The global acrylonitrile butadiene styrene market is thriving in the key regions of Asia Pacific, Europe, Latin America, the Middle East & Africa, and North America.
The report acknowledges the market in Asia Pacific to be the leading one among all the other regions, as a result of the substantial growth of the automotive and building & construction industry. The prominent contributors to the regional market growth are the countries of India, China, South Korea, and Japan, which experience increasing government and private investment for the development of the infrastructure.
Just behind Asia Pacific is the region of North America, acquiring the second-most substantial share in the global acrylonitrile butadiene styrene market. The United States (U.S.) secures its position as the leader in the regional market, on the back of the growing number of well-known end-use industries like sports and automotive.
Right after North America, is the market in Europe that is soaring high, in terms of market size. The lucrative growth pattern in the region is backed by the presence of countries such as the United Kingdom (U.K), France, Italy and Germany. Furthermore, the Aerospace and automotive industries in the region serve to the major consumers of acrylonitrile butadiene styrene in the region, a factor that will elevate the product demand during the assessment period.
Steady market growth will be observed in Latin America with the consistent expansion of the end-user industries in the economies like Venezuela, Argentina and Brazil. Lastly, the coming years will witness a somewhat healthy growth in the Middle East and Africa due to the abundance of growth opportunity for construction and sports industry.
February 2019 – A team of researchers from Wright State University have recently carried out investigations to analyze the performance of acrylonitrile butadiene styrene under pressure, calculating different responses to speed and temperature, using a MakerBot 2X Replicator 3D printer. The outcome has been positive, with hints towards more failure strengths and yields in the presence of higher temperatures. Moreover, the analysis also depicts that the speed does not influence the mechanical characteristics of the product.