Acrylonitrile Butadiene Styrene (ABS) Resin Market Size Outl...| MENAFN.COM

Tuesday, 31 January 2023 08:16 GMT

Acrylonitrile Butadiene Styrene (ABS) Resin Market Size Outlook, Size, Share And Growth And Forecast Assumptions 2023-2033


(MENAFN- America News Hour)

The Global Acrylonitrile Butadiene Styrene (ABS) Resin Market is projected to register a CAGR of over 4% during the forecast period
The market was negatively impacted by COVID-19 in 2020. Amid the global lockdown situation, automotive production witnessed a decline of approximately 30% in Q3 of 2020, compared to Q3 production in 2019. At the same time, the demand for electronics products such as laptops, mobiles, tablets, and others has increased owning to work from home and online classes, thus impacting the demand for ABS resin.

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– Over the short term, a major factor driving the market is the growing demand from the automotive and transportation sector on account of electric vehicles. However, low compatibility in applications involving a high-temperature application in conventional fuel is expected to hinder the growth of the market studied.
– The automotive and transportation industry dominated the market and is expected to grow due to the rising demand of electric vehicles during the forecast period.
– Innovative applications and products are likely to act as an opportunity in the future.
– Asia-Pacific dominated the market across the world, with the largest consumption from countries like China and India.
Key Market Trends
Increasing Demand from the Automotive and Transportation Industry

– The application of polymeric materials in automobiles is constantly increasing, and this trend is expected to continue during the forecast period. The application of polymeric materials allows more freedom in design and offers a safe geometrical and economic solution for the construction of parts.
– ABS is used in every area of an automobile, in internal parts, parts of the engine compartment, external parts, and bodywork. Moreover, airplane panels and luggage compartments are often made of ABS plastic. It is highly suitable for vacuum forming, so it can be manipulated into a wide variety of shapes. Its heavy-duty strength and lightweight density make it the perfect application for airplane interior parts. They are also used in aircraft doors and fuselages.
– In railways, ABS sheets are extensively used in the manufacturing of seatbacks, window masks, and ceiling panels. Additionally, countries like China and India are spending on new advanced and high-speed railcars driving the demand for ABS sheets on ceiling application.
– It is primarily used for the manufacturing of housings, covers, and linings that are used in the automobile and aerospace industries and in the railways, due to their various beneficial properties.
– It offers toughness, strength, and rigidity. They are opaque and have a high surface polish level. When they are exposed to weather, there is a reduction in the surface gloss.
– They also possess excellent heat and flame-resistant properties and electrical insulation. They are used in bumpers, seating, dashboard, interior trim, exterior trim, lighting, dashboard, and many more.

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Asia-Pacific to Dominate the Market
– The market for the ABS witnessed rapid growth in the Asia-Pacific region, owing to the increased replacement of traditional plastics by ABS in the growing automotive sector.
– In the Asia-Pacific region, China is the largest economy in terms of GDP. The country witnessed about 6.1% growth in its GDP during 2019, despite the trade disturbances caused due to its trade war with the United States.
– The appliance market in China is expected to grow with the growth of the middle-class population, thereby driving the ABS market in the country. The growth of the market is also the result of the increased purchasing power of consumers in China and India, and the resultant increase in the sales of consumer durables.
– The Chinese aerospace policy represents one of the most comprehensive attempts to enter the top levels of aerospace development and production. China is expected to be the world's largest single‐country market for civil aircraft sales over the next 20 years.
Competitive Landscape
The Acrylonitrile Butadiene Styrene (ABS) Resin market is partially fragmented in nature. Some of these key players include BASF SE, 3M, Covestro AG, INEOS, and SABIC.

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Focus on Lightweight Automobiles
4.1.2 Increasing Usage in Electronics and Consumer Goods
4.2 Restraints
4.2.1 Availability of Substitutes for ABS
4.2.2 Impact of COVID-19 Outbreak
4.3 Industry Value-chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Raw Materials Analysis
4.6 Trade Analysis
5 MARKET SEGMENTATION

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