H1 2023: The key producers of ABS in H1 2023 were LG Chem, CHIMEI Corporation, INEOS Styrolution Co., Ltd., and Formosa Chemicals & Fiber Corporation. In the Asian market, ABS prices declined continuously during H1 2023. Participants in the Asian market were concerned about this reduction because of the region’s weak demand for ABS by the downstream automotive and home appliances sectors. The decreased upstream material costs in H1 2023, notably those for butadiene, acrylonitrile, and styrene monomer in China, had a significant impact on the ABS market in China. Consumer buying activity in the home appliance market during this period was subdued as the Chinese economy did not show sufficient evidence of growth. The fall in ABS prices was influenced by the fluctuating upstream crude oil prices. ABS manufacturers decided to lower their production rates in May 2023 in reaction to the negative market sentiment in China. On the other hand, US market ABS prices were overall bearish in H1 2023 influenced by the region's persistently low demand in the automotive and house appliances industries as well as low prices of feedstock Styrene. Additional factors like ample of stock, also led to poor ABS prices in the US. The pressure of inflation had an impact on the demand for ABS by the downstream automotive sector in H1 2023.
The global Acrylonitrile Butadiene Styrene (ABS) market stood at approximately 9.2 million tonnes in 2023 and is expected to grow at a CAGR of 3.97% during the forecast period until 2034. Recently, INEOS Styrolution announced about construction of a new ABS plant at Ningbo, China. This plant will have a annual capacity of 600 million tonnes per annum and will be fully completed by 2023.
Acrylonitrile butadiene styrene (ABS) is a thermoplastic polymer. This terpolymer is synthesized by polymerization reaction between styrene and acrylonitrile with polybutadiene. The commonly used techniques employed in industries to manufacture ABS are: Continuous Mass Polymerization Technology, Emulsion Polymerization Technology, Mass and Emulsion Polymerization Process, and Injection and Extrusion Molding. The three monomers result in vivid properties of this polymer. Butadiene is responsible for durability and strength of this polymer, acrylonitrile, which gives this polymer chemical and heat stability, and styrene, which offers an attractive and glossy surface, and together ABS a great quality as a polymer.
When compared to other common polymers, ABS offers superior mechanical qualities like wear resistance, hardness, heat-resistance, light-weight nature, and high strength. ABS is utilized for various niche applications such fridges, washing machines, suitcases, cameras bodies, tool kit, battery containers, crates for shipping, radios, and various furniture parts.
The primary driver of the Acrylonitrile Butadiene Styrene (ABS) global market is the Consumer goods and appliances. Numerous car parts, such as bumpers, couches, panels, mouldings, headlining, middle consoles, and lights, are made with ABS. In 2023, approximately 31% of global Acrylonitrile Butadiene Styrene (ABS) was utilized by the Consumer goods and appliances Industry. The ABS market is propelling mostly due to the rising demand for lightweight cars that reduce fuel consumption by using ABS to manufacture vehicle accessories and parts which is anticipated to further expand in future. The global Acrylonitrile Butadiene Styrene (ABS) market is expected to reach approximately 14 million tonnes by 2034.
Based on demand by region, the Asia Pacific is the biggest consumer of Acrylonitrile Butadiene Styrene (ABS). This region held roughly 78% of the market share of global Acrylonitrile Butadiene Styrene (ABS) in 2023. Increase in consumer goods for applications in home, industrial and commercial sectors will swell up the demand of ABS in the Asia Pacific region. Although, Europe stands as the second largest consumer of ABS. Based on production, Asia Pacific is also taking the lead. Due to rising disposable income and government spending on important infrastructure projects, it is anticipated that the construction industry in China and India would expand significantly.
Based on the end-user industry, the global Acrylonitrile Butadiene Styrene (ABS) market is segmented into different industrial sectors, including Automotive, Home Appliances, Electrical & Electronics, Building & Construction, and Others. The Automotive Industry is the largest consumer of the Acrylonitrile Butadiene Styrene (ABS) market. Home Appliances and Electrical & Electronics industries are also significant consumers of ABS.
Major players in the production of Global Acrylonitrile Butadiene Styrene (ABS) are LG Chem, CHIMEI Corporation, Formosa Chemicals and Fiber Corporation, LOTTE Chemical Corporation, Jilin Petrochemical Company, Toray Industries, Tianjin Dagu Chemical Co., Ltd., and Jihua (Jieyang) ABS.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Acrylonitrile Butadiene Styrene (ABS) which covers production, demand and supply of Acrylonitrile Butadiene Styrene (ABS) market in the globe.
• To analyse and forecast the market size of Acrylonitrile Butadiene Styrene (ABS)
• To classify and forecast Global Acrylonitrile Butadiene Styrene (ABS) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Acrylonitrile Butadiene Styrene (ABS) market in the globe.
To extract data for Global Acrylonitrile Butadiene Styrene (ABS) market, primary research surveys were conducted with Acrylonitrile Butadiene Styrene (ABS) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Acrylonitrile Butadiene Styrene (ABS) market over the coming years.
ChemAnalyst calculated Acrylonitrile Butadiene Styrene (ABS) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Acrylonitrile Butadiene Styrene (ABS). ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Acrylonitrile Butadiene Styrene (ABS) manufacturers and other stakeholders
• Organizations, forums and alliances related to Acrylonitrile Butadiene Styrene (ABS) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Acrylonitrile Butadiene Styrene (ABS) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Acrylonitrile Butadiene Styrene (ABS) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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Attribute
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Details
|
|
Market size Volume in 2023 |
9.2 million tonnes |
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Market size Volume by 2034 |
14 million tonnes |
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Growth Rate |
CAGR of 3.97% from 2024 to 2034 |
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Base year for estimation |
2024 |
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Historic Data |
2015 – 2023 |
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Forecast period |
2025 – 2034 |
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Quantitative units |
Demand in million tonnes and CAGR from 2024 to 2034 |
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Report coverage |
Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Capacity by Technology, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process, Policy and Regulatory Landscape, |
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Segments covered |
By End-Use: (Automotive, Home Appliances, Electrical & Electronics, Building & Construction, and Others)
By Sales Channel: (Direct Sale and Indirect Sale) |
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Regional scope |
North America, Europe, Asia Pacific, Middle East and Africa, and South America. |
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Pricing and purchase options |
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Q1.
Which region is leading as a producer of Acrylonitrile Butadiene Styrene (ABS)?
Ans:
Asia Pacific is the leading producer of Acrylonitrile Butadiene Styrene (ABS).
Q2.
What are the major end-use industries of Acrylonitrile Butadiene Styrene (ABS)?
Ans:
Acrylonitrile Butadiene Styrene (ABS) is used majorly in Automotive, Home Appliances, Electrical & Electronics and Building & Construction end-use industries.
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