Acrylonitrile Butadiene Styrene (ABS) Market by Application, Product Growth over 2016-2024

The global Acrylonitrile Butadiene Styrene (ABS) Market share report provides numbers for applications and regional segments of the industry covering historical as well as forecast data for decision makers.

Global Acrylonitrile Butadiene Styrene (ABS) Market is set to climb its revenue collection graph to over USD 38 billion by 2024 from USD 22.3 billion for 2015. A new report by Global Market Insights, Inc., estimates the global acrylonitrile butadiene styrene market to register a CAGR of 6% over the period of 2016-2024. Mounting need for light-weight automobiles to improve the fuel efficiency of the vehicle is primarily driving the ABS industry trends. The use of ABS has widened the scope of automobile materials to be light weight as well as strong.

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Reasons to Buy This Report:

1. Acrylonitrile Butadiene Styrene (ABS) Market size & share forecast by product & application 2016-2024
2. Growth drivers, pitfalls & industry challenges
3. Key Acrylonitrile Butadiene Styrene (ABS) Market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles

The differentiating factor of Acrylonitrile Butadiene Styrene (ABS) Market report by Global Market Insights, Inc. when compared with other, similar syndicated research studies includes a 360-degree synopsis of trends for a period of more than 10 years including historic information as well as future outlook

High-durability, technological advancements in resins, and temperature resistance are the chief factors fueling the product penetration in the consumer goods and automotive market. In addition, the design flexibility, light weight, chemical & corrosion resistance, toughness, and high strength of acrylonitrile butadiene styrene, have significantly upscaled the demand in appliances segment.

In 2015, appliances dominated the application landscape of the overall acrylonitrile butadiene styrene industry share by accounting for over 30%. Moreover, the global household appliances segment is projected to cross USD 11.9 billion by 2020, owing to the rapid urbanization and rise in consumer spending on appliances such as washing machines, ovens, dryers, and microwaves.

The ability of ABS to retain its structure in high to low temperature range and better electrical insulation has favored the product penetration in the market. Rise in electronic and electrical application of ABS including computers, televisions, printing machines etc. have significantly driven the ABS industry share.

Browse Global Acrylonitrile Butadiene Styrene (ABS) Market Report Summary:https://www.fractovia.org/news/industry-research-report/acrylonitrile-butadiene-styrene-ABS-market

Accounting for more than 70% of global acrylonitrile butadiene styrene market share in 2015, Asia Pacific emerged as the most dominant market for ABS industry. China and India are two prominent countries majorly contributing toward the regional development. The growing construction, electrical & electronics, consumer goods, and automotive industries in APAC have opened huge opportunities for the ABS market expansion.

The high demand from the automotive, chemical, and polymer industries in the United States have resulted into soaring ABS market demand. ABS is used in manufacturing of various parts in commercial as well as passenger vehicles. U.S. acrylonitrile butadiene styrene industry is projected to exceed more than USD 3.1 billion by 2024.

Beyond the core usage of ABS, the companies are now establishing themselves in the market to provide improved quality and developed product portfolio. Strategic collaboration and partnership amongst the market players will be key approach for expanding their global presence.

ABS industry is characterized by the presence of large distribution channels due to the existence of wide range of wholesalers and traders for its various applications. Prominent acrylonitrile butadiene styrene market players include Styrolution, Asahi Kasei, Formosa Plastic Company, Styron, Kumho Petrochemical and Sabic.

Europe acrylonitrile butadiene styrene market will witness significant growth owing to increasing disposable income. Europe is anticipated to witness a CAGR of 3.5% over the period of 2016-2024. The existence of many automotive manufacturing companies will also be the attributing factor in the industrial growth of the region.

Asia Pacific ABS market, with China being the largest industry worth USD 9 billion in 2015, and will continue to lead the regional landscape over the coming timeframe. Increasing construction spending and advanced new projects in china will offer a positive push to the regional growth.

Moreover, growing automobile manufacturing base in the APAC region, owing to supportive government regulations in the form of tax & FDI facilities will fuel the ABS industry growth in the region. China, Taiwan, India, Thailand, and Indonesia are the major countries witnessing the expansion of automobile production capacity.

North America ABS industry worth USD 700 million in 2015 is primarily driven by electrical & electronics industry growth. Rising demand for electric goods/ electronics and appliances will thrive the U.S. market in the coming seven years.

Latin America acrylonitrile butadiene styrene market is also poised to witness significant growth in the coming years. This growth is subject to healthy growth of automotive industry in countries such as Argentina, Brazil, and Mexico.

Key ABS market players include LG Chemical, Formosa Plastic Company, Kumho Petrochemical Company, Chei Mei Corporation and Styrolution. The coming years will witness several merges & acquisitions and strategic partnerships among the market participants to sustain their position.

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About Global Market Insights, Inc. Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services.