Acrylonitrile Butadiene Styrene (ABS) Market size to exceed $16 Bn by 2032

Acrylonitrile Butadiene Styrene Market size is anticipated to reach USD 16 billion by 2032, according to a new research report by Global Market Insights Inc.
 

Rising demand for ABS especially from China is the chief driver of the acrylonitrile butadiene styrene industry growth. Numerous factors, such as increased consumption and demand patterns, capacity growth brought on by an increase in ABS demand and shifting automotive trends, including weight reduction and visually pleasing vehicles are likely to boost product adoption in China.
 

Additionally, the utilization of light automobiles in support of multiple strict governmental norms and laws is promoting the necessity for high-grade ABS in many different countries. According to the International Energy Agency’s Global EV Outlook 2022, China accounted for approximately 86,000 light commercial vehicle sales in 2021 compared to 60,000 in Europe.
 

Surging need for sustainable products to increase the electrical and electronics industry share

The acrylonitrile butadiene styrene market revenue from the electrical and electronics segment of is projected to cross USD 12.5 billion by 2032. Shifting consumer behavior and rising environmental concerns have bolstered the demand for sustainable electrical and electronic products. This, in turn, is fueling eco-friendly and low-carbon ABS adoption for the external casing of computers, computer accessories, business machines, and electronic gadgets.
 

Browse key industry insights spread across 250 pages with 223 market data tables & 45 figures & charts from the report, “Acrylonitrile Butadiene Styrene (ABS) Market Size By Application (Appliances, Electrical and Electronics, Automotive, Consumer Goods, Construction), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2023 - 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/acrylonitrile-butadiene-styrene-ABS-market
 

Growing demand for high-quality products to push Europe ABS industry growth

Europe acrylonitrile butadiene styrene market is expected to record nearly 5% CAGR from 2023 to 2032. The region may emerge as a major hub for this industry owing to numerous qualities of acrylonitrile butadiene styrene, including heat & impact resistance and flame retardance, which makes it highly suitable for the booming construction, automotive, and electrical & electronics industries in the region. In January 2022, INEOS Styrolution, a styrenics manufacturer, opened an ABS production facility in Wingles, France, in line with the rising demand for ABS, especially in the European construction market, and offer new ABS solutions to meet prevalent customer needs.
 

Increased investment toward enhancing output to remain a key growth strategy

The competitive outlook of the acrylonitrile butadiene styrene market is foreseen to showcase a series of production expansion tactics and significant funding decisions undertaken by industry players. Major participants profiled in the ABS industry include LG Chem, Ltd., Kumho Petrochemical, Trinseo S.A. (Styron), BASF SE, Toray Industries, Inc., Ampa Plastics Group (Pty) Ltd., and others.