Acrylonitrile Butadiene Styrene Market Size

Acrylonitrile Butadiene Styrene Market Size

Acrylonitrile Butadiene Styrene Market size was valued at over USD 30.74 billion in 2023 and is set to record over 5.7% CAGR during 2024-2032 driven by its versatile applications and superior material properties. ABS is highly valued for its excellent impact resistance, durability, and ease of processing, making it desirable in a variety of industries.

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For instance, in February 2022, PolyREC was recognized as an official data collector for Circular Plastics Alliance (CPA) for monitoring European recycled plastics with the RecoTrace system. In automotive industry, ABS is widely used for products, such as dashboards, wheel covers and body panels. With its light weight, this chemical compound helps reduce vehicle weight, improve fuel efficiency, and reduce carbon emissions.
 

Rising usage in the manufacture of household appliances, toys, and electronics to offer excellent aesthetic properties, including glossy finishes and color softening capabilities will also sway the market development. The higher adoption of electronic devices, driven by technological advancements and increasing disposable incomes has led to the high demand for ABS. The recyclability and cost-effectiveness of the material also makes it attractive to manufacturers aiming to produce high-quality products at competitive prices.
 

However, the production and disposal of ABS may contribute to environmental pollution as it is a biodegradable plastic that can remain in landfills and oceans for years. This has led to greater regulatory scrutiny and the push for more complexity, further hindering ABS requirements. Volatile prices of raw materials, such as acrylonitrile, butadiene and styrene due to fluctuations in oil prices and supply disruptions may also limit the product uptake to some extent.