Acrylonitrile Butadiene Styrene (ABS) Market USD 46.95 Billion by 2028- Says a New Research Report by Reports and Data

Acrylonitrile Butadiene Styrene (ABS) Market USD 46.95 Billion by 2028- Says a New Research Report by Reports and Data

Increasing demand for consumer goods and home appliances is estimated to stimulate market demand.

The global Acrylonitrile Butadiene Styrene (ABS) Market is expected to reach USD 46.95 Billion by 2028, according to a new report by Reports and Data. Acrylonitrile butadiene styrene is a sturdy engineering thermoplastic and amorphous polymer that is used in the production of lightweight, rigid, and molded products which are used in a diverse range of end-use applications.

Market Size – USD 28.54 Billion in 2020, Market Growth – CAGR of 6.5%, Market Trends – Increase in infrastructure development activities in developing countries

Increasing use of acrylonitrile butadiene styrene is estimated to simulate market demand in the upcoming years owing to its high luster and easy formability. Acrylonitrile butadiene styrene finds application in TVs, TV/OA housings, monitor housings, VCRs, fax machines, printers, vacuum cleaners, digital cameras, camcorders, computers, CD-ROM bezels, microwave ovens, adapters, sheet for refrigerators, and briefcases, among others. This engineering plastic is also used in the production of kitchen utensils.

The automobile industry is also a significant user of ABS, which are used in automotive dashboards, inner decorating plate, outer body panel, sound insulation board, steering wheel, door locks, ventilation pipe, bumper, and other parts. Rising awareness pertaining to the innate relationship between vehicle mass and fuel economy is boosting the demand for lightweight engineering plastics and hence, in turn, is expected to drive the market demand for ABS

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Market Overview:

The materials and chemicals industry has always employed cutting edge of innovation. It has guided the scientific community as well as individuals to explore new aspects of nature. From medical supplies to paints to perfumes, everything is composed of chemicals. Both new chemical discovery and substance explorations are handled by the materials and chemicals industry. The materials and chemicals industry has always taken a forward-thinking approach, from discovering new compounds to creating new chemical combinations.

This industry includes polymers, dyes, lubricants, surfactants, resins, petrochemicals, bleaches, paints, plastics, soap, detergent, and acids, among other chemicals and chemical products. The materials and chemical industries are known for improving product physical characteristics. Magnetic, optical, structural, and catalytic properties are all altered to increase the product’s overall efficacy. Leading players in the materials and chemicals industry have questioned the status quo and produced brilliant inventions that have altered the course of history. Advancement in the materials and chemicals industry can lead other industries in comprehending new types of matter. In this way, it creates a solid foundation for the advancement of society as a whole.

Top Key Players: 

LG Chemicals, Asahi Kasei, Chi Mei Corporation, Formosa Plastics, Kumho Petrochemicals, SABIC, Styron, BASF SE, Du Pont, and Arkema SA, among others.

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Types:

  • Injection Molding
  • Extrusion
  • Blow Molding
  • Others

Application:

  • Automotive & Transportation
  • Construction
  • Electronics
  • Consumer Goods & Home Appliances
  • Others

Major Regions covered in the report:

  • North America (U.S.A., Canada, Mexico)
  • Europe (U.K., Italy, Germany, France, Rest of Europe)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Further key findings from the report suggest:

  • The composition of styrene in the polymer lies in the range of 40% to 60%, and it gives rigidity and process ability to plastics as well as a nice and glossy finish.
  • The application in consumer goods and home appliances contributed to the largest market share in 2020 and is expected to grow at a rate of 6.7% in the forecast period owing to an increase in the level of the disposable income of the people in the region.
  • The market in the Asia Pacific region dominated the market in 2020 and is projected to maintain its market dominance throughout the forecast period growing at a rate of 6.6%. This can be attributed to the growth of end-user industries such as the automotive, consumer goods & home appliances, and electronics industry. Favorable government initiatives for infrastructure development in the region, especially in developing countries like China and India, are also expected to drive the market growth.

To know more about the report @ https://www.reportsanddata.com/report-detail/acrylonitrile-butadiene-styrene-abs-market

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