Acrylonitrile Butadiene Styrene (ABS) Market - Forecast(2022 - 2027)

Report Code: CMR 1445 Report Format: PDF + Excel

Acrylonitrile Butadiene Styrene (ABS) Market Overview

Acrylonitrile Butadiene Styrene (ABS) market size is forecast to reach US$40.8 billion by 2026, after growing at a CAGR of 6.9% during 2021-2026. The ABS is an invariable thermoplastic polymer that is composed of three different monomers as Acrylonitrile, Butadiene, and Styrene which may vary in proportions. They are also known as engineering plastics. Acrylonitrile gives chemical and thermal stability, styrene gives a glossy finish to the plastic and butadiene offers strength and endurance. These materials hold major shares in electronic appliances and automobile sectors for vehicle and auto parts manufacturing. The rapid growth of the Medial industry has increased the demand for medical equipment; thereby, fueling the market growth. Furthermore, the flourishing construction and aerospace industry is also expected to drive the ABS industry substantially during the forecast period.

COVID-19 Impact

The Coronavirus pandemic has impacted the polymer industry to a great extent stuttering the manufacturing and commerce industry. Currently, the core industries such as aerospace, automotive, and energy industry are highly impacted. Due to social distancing policy, most of the manufacturing plants of aircraft and automobiles were shut down, which declined the production of ABS. Global auto production in 2020 was severely hit by COVID-19 crises with a 16% drop in world auto production. Also, due to supply chain disruptions such as raw material delays or non-arrival, disrupted financial flows, and rising absenteeism among production line staff has declined the market trend. However, the demand for plastic in the healthcare and medical industry for equipment manufacturing will help to raise market trends during the forecast period.

Report Coverage

The report: “Acrylonitrile Butadiene Styrene (ABS) Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Acrylonitrile Butadiene Styrene (ABS) Market.

By Technology: Extrusion, Injection Molding, Blow Molding, Others.
By Grade: Flame Retardant Grade, Impact, Gloss, Platable, Composite Grade, Others.
By Application: Dashboard components, Door liners, and handles, Seatbacks, seat belt components, Electronic enclosures, Computer keyboards, Plumbing fittings, Water filter casings, Kitchen appliances, Sanitary Products, Others
By End-Use IndustryTransportation: Automotive (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial vehicles), Aerospace, Marine, Building & Construction: Residential Construction (Independent Home, Rowhouses, Large Apartment buildings), Commercial (Hospitals and Healthcare, Educational Institutes, Hotels and Restaurants, Banks and Financial Institution, Airports, Hyper and Super Market, Shopping Malls, Others) Electrical & Electronics, Household Products, Sports & Leisure, Energy, Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (the Middle East, and Africa) 

Key Takeaways

  • Asia-Pacific dominates the ABS market, owing to the increasing electrical & electronics manufacturing in the region. According to Invest India, the domestic electronics market in India to attain US$120 billion by 2025. 
  • Acrylonitrile Butadiene Styrene (ABS) market is increasing in Europe due to the growth in automobile manufacturing for its best quality, lightweight vehicle, higher production, and less carbon emission. 
  • Acrylonitrile Butadiene Styrene (ABS) has been used in the construction industry for its excellent features. These features are growing the demand not only in Asia pacific but also globally due to higher durability and corrosion-resistant. 
  • The growing trend of lightweight vehicles is expected to boost the manufacturing sector in China and banning the import of scrap plastics helps the growth of consumer electronics in turn helps the ABS Market growth.

Figure: Asia-Pacific Acrylonitrile Butadiene Styrene (ABS) Market Revenue, 2020-2026 (US$ Billion)

Acrylonitrile Butadiene Styrene Market

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Acrylonitrile Butadiene Styrene (ABS) Market Segment Analysis – By Technology

The extrusion segment accounted for a significant share of 28% in 2020 and is also expected to grow significantly during the forecast period 2021-2026. The increase of extrusion techniques in the production of ABS plastics boosted the growth of the ABS market in end-use industries. Increasing infrastructure and automobile demand in India, China, Japan, Indonesia, and others are driving the market growth of ABS. Special combinations of hardness, improved high tenacity and elasticity modulus, as well as extraordinary thermal stability, are given by ABS PlasticsThe lightweight vehicle market is being increased and is mainly used in the aerospace, automobile, and defense industry and is expected to grow in the coming years.

Acrylonitrile Butadiene Styrene (ABS) Market Segment Analysis – By Grades

The Flame retardant thermoplastics account for a 28% share in the global market in the year 2020. The flame retardant thermoplastic will reduce ignition and helps in preventing the fire spread caused due to electric flaws or any other different sources. The Flame Retardants are added to different resins to extinguish the smoke and control the speed of flame. These are widely used in the automobile and transportation industry for controlling the fire caused due to an accident and also helps in stopping the fire spread in surroundings. Research and development works are underway to upgrade quality and standards to boost the demand across the globe. The ABS Grades like gloss is used in home appliances, toys, and electronic appliances, automotive interior, and exterior parts.

Acrylonitrile Butadiene Styrene (ABS) Market Segment Analysis – By Application

ABS is commonly used to manufacture different automotive components like bumper, seating, dashboard, interior trim, headliners, canter consoles, lighting, and others. ABS approximately holds 16 % of the total automotive plastics used in a passenger car. ABS gives anti-corrosion and higher durability to the products which increases the demand. The Styrene Butadiene rubber is used in the manufacture of tires and gives high abrasion resistant property is likely to increase the market size in coming years.

Acrylonitrile Butadiene Styrene (ABS) Market Segment Analysis – By End-Use Industry

The Transportation segment accounts for the largest share of 35% in 2020 and is expected to grow at a significant CAGR between the forecast periods. The Automobile sector of transportation segments holds the highest share in the market based on the lightweight vehicles to improve fuel efficiency and the reduced weight helps to control CO2 emission which increases the durability of vehicles. The other factors contributing to the growth of the Automobile sector are urbanization, advancement in technology, growing demands of an electric vehicle with the rise of fuel prices are expanding the market size during the forecast period. The construction industry is expected to hold a significant share in the global market. In many regions, such as Asia-Pacific, the Middle East, and Africa, stable GDP growth, relatively strong passenger demand, and lower commodity prices are driving the growth of the automobile industry. As a result, the ABS market has an increasing trend over the forecast market.

Acrylonitrile Butadiene Styrene (ABS) Market Segment Analysis – By Geography

Asia-Pacific region holds the largest share in the ABS market of 45% in 2020, owing to the growth of end-use industries like appliances, automobile, construction, electric & electronic, and others. The government has worked for infrastructure development in developing countries like India, China, Indonesia, and others which helped for the growth of different sectors in this region. China dominated the Asia Pacific region and contribute more than 50% share among all countries in this region. The appliances market in China is expected to grow in the forecast period due to increased population, rising expendable income, and increased purchasing power of consumers despite trade disturbances caused due to trade war between the United States and China. The electric and electronic industry of Japan accounts for one-third of Japanese economic output and acts as a world leader for the production of computers, mobiles, and other appliances. According to Invest India, the auto component sector has USD 49 billion by 2020 and will reach USD 200 billion by 2026. Thus, with the flourishing automobile industry, there will be an upsurge in the demand for aerospace components, which is anticipated to drive the ABS market in the Asia-Pacific region.

Acrylonitrile Butadiene Styrene (ABS) Market Drivers

Growing demand from Automotive Industry

The ABS is becoming more popular in the automobile sector due to its excellent strength, decorative color, and lightweight vehicles. ABS are utilized in a variety of applications in the automobile industry, including wheel, heavy-duty equipment, and others. China is the world's largest vehicle market, according to the International Trade Administration (ITA), and the Chinese government expects automobile production to reach 35 million units by 2025. According to Invest in India, the electric vehicle market is expected to grow at a CAGR of 44% by 2027 and is expected to hit USD 6.34 million unit’s annual sales by 2027. Thus, increasing automation production will require more automotive components, which will act as a driver for the ABS market during the forecast period. 

Flourishing Electric & Electronic Sector

ABS materials are widely used in computers and office equipment which are commonly used in day-to-day life. ABS provides higher durability, impact resistance, process ability, surface quality, chemical resistance, anti-corrosion properties to the end-user product that increases the market size in the forecasted period. ABS resins are used along with other plastics to form different alloys such as polycarbonate (PC)- acrylonitrile butadiene styrene for consumer electronics segment. According to the Ministry of Commerce & Industry, The Indian Electronics market has grown with a CAGR of 14% from 2016-2019 and is estimated to generate revenue of USD 1 trillion value by 2025. Thus, the rising consumer demand for electronics positively influences the global ABS market.

Acrylonitrile Butadiene Styrene (ABS) Market Challenges

Higher Price of Acrylonitrile Butadiene Styrene

The cost of Acrylonitrile Butadiene Styrene is much higher. The reason behind this is its production cost, while producing ABS resins, the machinery and the equipment which are used are tagged with higher expense, also, these machineries require high maintenance. Owing to this factor, the product of ABS polymer comes with a higher price as compared to its alternative materials, which tends to constrain the growth of the market. In addition, even if the ABS provides better results, the customer usually prefers the less cost. Such factors have become the major challenge of Composite Coatings in terms of consumption, which constrains the growth of the market.

Acrylonitrile Butadiene Styrene (ABS) Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Acrylonitrile Butadiene Styrene (ABS) market. Acrylonitrile Butadiene Styrene (ABS) market top companies are:

  1. LG Chemicals
  2. 3M
  3. INEOS
  4. SABIC
  5. BASF SE
  6. CHIMEI
  7. Asahi Kasei Corporation
  8. Formosa Chemicals & Fibre Corp.
  9. China Petroleum & Chemical Corporation
  10. ELIX Polymers, and others. 

Acquisitions/Technology Launches

  • In August 2019, INEOS Styrolution, the global leader in styrene, launched the new ABS (acrylonitrile butadiene styrene) grade as part of its Novodur® family of ABS specialty copolymers. The new material grade, Novodur P4XF, excels with high flowability and offers an attractive balance profile between flowability and impact strength. It helps the material of choice for large and complex applications in the household and electronics industries and contributes to improving their carbon footprint.

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1. Acrylonitrile Butadiene Styrene (ABS) Market- Market Overview
    1.1 Definitions and Scope
2. Acrylonitrile Butadiene Styrene (ABS) Market - Executive Summary
    2.1 Key Trends by Technology
    2.2 Key Trends by Grade
    2.3 Key Trends by Application
    2.4 Key Trends by End Use Industry
    2.5 Key Trends by Geography
3. Acrylonitrile Butadiene Styrene (ABS) Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Acrylonitrile Butadiene Styrene (ABS) Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Acrylonitrile Butadiene Styrene (ABS) Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Acrylonitrile Butadiene Styrene (ABS) Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Acrylonitrile Butadiene Styrene (ABS) Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Acrylonitrile Butadiene Styrene (ABS) Market – By Technology (Market Size -$Million/Billion)
    8.1 Extrusion
    8.2 Injection Molding
    8.3 Blow Molding
    8.4 Others
9. Acrylonitrile Butadiene Styrene (ABS) Market – By Grade (Market Size -$Million/Billion)
    9.1 Flame Retardant Grade
    9.2 Impact
    9.3 Gloss
    9.4 Platable
    9.5 Composite Grade
    9.6 Others
10. Acrylonitrile Butadiene Styrene (ABS) Market – By Application (Market Size -$Million/Billion)
    10.1 Dashboard components
    10.2 Door liners and handles
    10.3 Seat backs, seat belt components
    10.4 Electronic enclosures
    10.5 Computer keyboards
    10.6 Plumbing fittings
    10.7 Water filter casings
    10.8 Kitchen appliances
    10.9 Sanitary Products
    10.10 Others
11. Acrylonitrile Butadiene Styrene (ABS) Market – By End Use Industry (Market Size -$Million/Billion)
    11.1 Transportation
        11.1.1 Automotive
            11.1.1.1 Passenger Vehicles
            11.1.1.2 Light Commercial vehicles
            11.1.1.3 Heavy Commercial vehicles
        11.1.2 Aerospace
        11.1.3 Marine
    11.2 Building & Construction
        11.2.1 Residential Construction
            11.2.1.1 Independent Homes
            11.2.1.2 Row houses
            11.2.1.3 Large Apartment buildings
        11.2.2 Commercial
            11.2.2.1 Hospitals and Healthcare
            11.2.2.2 Educational Institutes
            11.2.2.3 Hotels and Restaurants
            11.2.2.4 Banks and Financial Institution
            11.2.2.5 Airports
            11.2.2.6 Hyper and Super Market
            11.2.2.7 Shopping Malls
            11.2.2.8 Others
    11.3 Electrical & Electronics
    11.4 Household Products
    11.5 Sports & Leisure
    11.6 Energy
    11.7 Others
12. Acrylonitrile Butadiene Styrene (ABS) Market - By Geography (Market Size -$Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 South America
        12.2.1 Brazil
        12.2.2 Argentina
        12.2.3 Colombia
        12.2.4 Chile
        12.2.5 Rest of South America
    12.3 Europe
        12.3.1 UK
        12.3.2 Germany
        12.3.3 France
        12.3.4 Italy
        12.3.5 Netherlands
        12.3.6 Spain
        12.3.7 Russia
        12.3.8 Belgium
        12.3.9 Rest of Europe
    12.4 Asia-Pacific
        12.4.1 China
        12.4.2 Japan
        12.4.3 India
        12.4.4 South Korea
        12.4.5 Australia and New Zeeland
        12.4.6 Indonesia
        12.4.7 Taiwan
        12.4.8 Malaysia
        12.4.9 Rest of APAC
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Acrylonitrile Butadiene Styrene (ABS) Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Acrylonitrile Butadiene Styrene (ABS) Market – Industry/Segment Competition Landscape Premium
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Acrylonitrile Butadiene Styrene (ABS) Market – Key Company List by Country Premium Premium
16. Acrylonitrile Butadiene Styrene (ABS) Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"