Acrylonitrile Butadiene Styrene Market bym

Snehal
Snehal 11/25/2019 5:23:49 AM

Acrylonitrile
Butadiene Styrene Market by Applications & Regional Growth by 2019-2024


Automotive acrylonitrile butadiene styrene market is
estimated to witness gains over 4% up to 2024. Increased product usage in
locomotive parts including steering covers, body panels, tires and bumpers has
positively influenced the industry growth.

Electrical & electronics industry will
witness CAGR over 3.5% up to 2024. Increasing customer purchasing power and
changing lifestyles are the key factors fueling business growth. Growing demand
for corrosion and temperature resistant materials in computer accessories,
electronic devices, and business machine will support the product penetration.

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Potential applications in construction,
electrical & electronics and home appliances will propel the acrylonitrile
butadiene styrene market growth. Superior properties including fire
retardation, high strength, lightweight and better surface appearance will
further enhance the industry share.

Increasing overall construction
expenditure coupled with rising government spending on infrastructure
development will fuel the acrylonitrile butadiene styrene market. Moreover,
expansion in the global automotive industry is the key factor enhancing the
product penetration.

Stringent government regulations regarding
reduction in automobile weight and carbon emissions are the key factors
enhancing the acrylonitrile butadiene styrene market growth. Increasing ABS
imports particularly in China due to its growing demand from electrical &
electronics products, industrial, and household appliances will propel the
industry growth.

Technological advancement and product
innovation in the manufacturing industries has enhanced the product
development. Trade growth in terms of industrial output, capital investment,
imports and exports owing to rise in customer consumption will open new
opportunities for the industry growth.

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Growth in the global home appliances
industry across the world due to its rising demand will generate profitable
avenues for the product scope. High design flexibility & strength, enhanced
visual look, low material wastage and low material costs are key properties
enhancing the product development. However, emergence of sustainable products
can replace ABS based resins in the coming future.

The U.S. acrylonitrile butadiene styrene
market was worth exceeding USD 3 billion by 2024. Growth in consumer goods
industry due to development of innovative products and changing lifestyles will
propel the product demand. Increasing automotive sales in this region is will
fuel the acrylonitrile butadiene styrene market.

Europe acrylonitrile butadiene styrene
market, dominated by Germany, France, UK and Russia is the major hub for
automobile industry with availability of advanced innovations and improved
performance of automobiles. High product usage in car interior as well as
exterior is likely to be beneficial for the acrylonitrile butadiene styrene
market growth.

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Asia Pacific accounted for around 68% of
the overall industry share in 2016 owing to increase in disposable income and
middle-class population. Presence of major manufacturing companies and growth
in automotive industry are the main factors driving the industry demand.

Global acrylonitrile butadiene styrene
market share is consolidated with the presence of few international
manufacturers. Some of the key players are Chi Mei corporation, LG Chemicals,
Formosa Plastic Company, Kumho Petrochemical, Dow Chemical Company, SABIC,
Asahi Kasei and Styron.

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