The Global Acrylonitrile Butadiene Styrene Market size is expected to reach $44.5 billion by 2031, rising at a market growth of 6.5% CAGR during the forecast period. In the year 2023, the market attained a volume of 8,820.3 Kilo Tonnes experiencing a growth of 22.7% (2020-2023).
North America is home to a thriving electronics industry, with significant demand for ABS in electronic enclosures, housings, and components. The region’s robust consumer electronics market and the growth of industries such as telecommunications and IT drive the demand for ABS in electronic devices. Consequently, the North American region would acquire nearly 30% of the total market share by 2031. Also, the US market would consume 1,379.9 kilo tonnes of opaque Acrylonitrile Butadiene Styrene by 2031.
Ports worldwide are experiencing a trend towards larger vessels, including container ships and bulk carriers, driven by economies of scale in maritime shipping. In addition, ports are crucial hubs for international trade, serving as gateways for goods movement between countries and regions. Thus, increasing demand for port infrastructure is driving the market's growth.
Additionally, Coastal erosion, exacerbated by sea level rise and extreme weather events associated with climate change, threatens coastal communities, infrastructure, and ecosystems. Similarly, this equipment plays a crucial role in beach nourishment projects by sourcing and depositing sand onto eroded beaches to restore their natural profile and recreational value. Therefore, coastal protection and climate change adaptation propel the market's growth.
However, this equipment, such as cutter suction dredgers (CSDs), trailing suction hopper dredgers (TSHDs), and other specialized machinery, are highly sophisticated and require significant capital investment. Likewise, smaller companies and new market entrants often struggle to secure the capital to invest in expensive equipment. Hence, high initial investment costs are driving the growth of the market.
North America is home to a thriving electronics industry, with significant demand for ABS in electronic enclosures, housings, and components. The region’s robust consumer electronics market and the growth of industries such as telecommunications and IT drive the demand for ABS in electronic devices. Consequently, the North American region would acquire nearly 30% of the total market share by 2031. Also, the US market would consume 1,379.9 kilo tonnes of opaque Acrylonitrile Butadiene Styrene by 2031.
Ports worldwide are experiencing a trend towards larger vessels, including container ships and bulk carriers, driven by economies of scale in maritime shipping. In addition, ports are crucial hubs for international trade, serving as gateways for goods movement between countries and regions. Thus, increasing demand for port infrastructure is driving the market's growth.
Additionally, Coastal erosion, exacerbated by sea level rise and extreme weather events associated with climate change, threatens coastal communities, infrastructure, and ecosystems. Similarly, this equipment plays a crucial role in beach nourishment projects by sourcing and depositing sand onto eroded beaches to restore their natural profile and recreational value. Therefore, coastal protection and climate change adaptation propel the market's growth.
However, this equipment, such as cutter suction dredgers (CSDs), trailing suction hopper dredgers (TSHDs), and other specialized machinery, are highly sophisticated and require significant capital investment. Likewise, smaller companies and new market entrants often struggle to secure the capital to invest in expensive equipment. Hence, high initial investment costs are driving the growth of the market.
Driving and Restraining Factors
Drivers- Rapid urbanization and infrastructure development
- Rise in demand for consumer electronics
- Expansion of the automotive industry worldwide
- Fluctuating raw material prices
- Competitive pressure from substitutes
- Focus on lightweighting and sustainability
- Growing adoption of 3D printing
- Recycling infrastructure limitations
- Health and safety concerns
Type Outlook
On the basis of type, the market is segmented into opaque, transparent, and colored. In 2023, the transparent segment attained a 26.2% revenue share in the market. In terms of volume, the segment registered 2,158.8 kilo tonnes in 2023. Transparent ABS grades offer a visually appealing alternative to traditional opaque materials, providing a modern and sleek appearance to products and components.Manufacturing Process Outlook
Based on manufacturing process, the market is categorized into emulsion polymerization, mass polymerization, continuous polymerization, and others. The mass polymerization segment witnessed 18% revenue share in the market in 2023. In terms of volume, the segment registered 1,452.7 kilo tonnes in 2023. Mass polymerization offers better control over the quality of the ABS produced. This ensures that the final product meets the required specifications and performance standards, leading to increased demand from industries prioritizing product quality.Grade Outlook
Based on grade, the market is divided into high impact, heat resistant, flame retardant, electroplatable, and blended ABS. The flame retardant segment attained 17% revenue share in the market in 2023. In terms of volume, the segment registered 1,435.9 kilo tonnes in 2023. Flame retardant ABS materials offer superior fire resistance to standard ABS resins, protecting ignition, flame spread, and smoke generation.
Technology Outlook
By technology, the market is divided into extrusion, injection molding, blow molding, thermoforming, and 3D printing. The extrusion segment procured a 21% revenue share in the market in 2023. ABS is a recyclable thermoplastic, and extrusion processes can be designed to incorporate recycled ABS materials, contributing to sustainability goals and reducing environmental impact.Application Outlook
Based on application, the market is divided into appliances, electrical & electronics, automotive, consumer goods, construction, and others. In 2023, the electrical & electronics segment procured 22% revenue share in the market. ABS maintains its dimensional stability over various temperatures, making it ideal for electronic enclosures and housings subject to temperature variations during operation.Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region witnessed 38% revenue share in the market in 2023. The automotive industry in the Asia Pacific region is one of the largest and fastest growing in the world. As vehicle production and sales continue to increase in countries like China, India, and Japan, so does the demand for ABS for automotive components such as bumpers, interior trim, and exterior panels.List of Key Companies Profiled
- SABIC (Saudi Arabian Oil Company)
- BASF SE
- Formosa Plastics Group
- DuPont de Nemours, Inc.
- Kumho P&B Chemicals., Inc (Kumho Petrochemical Group)
- CHIMEI Corporation
- Trinseo PLC
- PetroChina Company Limited (China National Petroleum Corporation)
- Asahi Kasei Corporation
- INEOS Styrolution Group GmbH
Market Report Segmentation
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)- Opaque
- Transparent
- Colored
- Emulsion Polymerization
- Continuous Polymerization
- Mass Polymerization
- Others
- High Impact
- Heat Resistant
- Electroplatable
- Flame Retardant
- Blended ABS
- Injection Molding
- Extrusion
- Thermoforming
- Blow Molding
- 3D Printing
- Appliances
- Automotive
- Electrical & Electronics
- Consumer Goods
- Construction
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Global Acrylonitrile Butadiene Styrene Market by Type
Chapter 5. Global Acrylonitrile Butadiene Styrene Market by Manufacturing Process
Chapter 6. Global Acrylonitrile Butadiene Styrene Market by Grade
Chapter 7. Global Acrylonitrile Butadiene Styrene Market by Technology
Chapter 8. Global Acrylonitrile Butadiene Styrene Market by Application
Chapter 9. Global Acrylonitrile Butadiene Styrene Market by Region
Chapter 10. Company Profiles
Companies Mentioned
- SABIC (Saudi Arabian Oil Company)
- BASF SE
- Formosa Plastics Group
- DuPont de Nemours, Inc.
- Kumho P&B Chemicals., Inc (Kumho Petrochemical Group)
- CHIMEI Corporation
- Trinseo PLC
- PetroChina Company Limited (China National Petroleum Corporation)
- Asahi Kasei Corporation
- INEOS Styrolution Group GmbH
Methodology
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