6th
August 2019 – The global acrylonitrile butadiene styrene market
size is expected to value at USD 34.88 billion by 2022. The market is subject
to witness a substantial growth due to the increasing need in automotive sector
for light weight automobile parts and construction sector. Rising adoption of
the acrylonitrile butadiene styrene in industry goods, various equipment,
automobile ancillaries, and construction instruments to achieve lightweight and
high tensile strength, is significantly contributing to market growth over the
forecast period.
Growing importance to light-weight automobile parts to
limit carbon dioxide emission rate. Ever increasing greenhouse gas emission as
per the International Energy Agency (IEA) is a key driving factor for growth of
the acrylonitrile butadiene styrene market. Furthermore, numerous advantages
associated with the adoption of the lightweight parts in the automotive
industry, is propelling expansion of the market in recent years. Globally, the
market is predicted to grow at CAGR of 7.1% in forecast period, providing
numerous opportunity for market players to invest for research and development
in the acrylonitrile butadiene styrene market.
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Substantial growth of the automotive sector in the
various region across the globe is likely to spur market demand of the
acrylonitrile butadiene styrene. Rising purchases of commercial vehicle, public
transport systems, and motorbikes are some of the key areas to promote adoption
of the acrylonitrile butadiene styrene in coming years. Applications of the
acrylonitrile butadiene styrene (ABS) involves production of the interior
automobile parts similar to trims, main console, inside grating, liners on the
headlights, and side view mirrors. Increasing sales of automotive vehicles is expected
to have a positive impact the expansion of the acrylonitrile butadiene styrene
market.
The use of the acrylonitrile butadiene styrene (ABS) in
construction sector involves manufacturing of vacuum pumps and pipes, and
differential fitting instruments, majorly due to superior mechanical strength
and lightweight. Production for large equipment for the storage of the waste
materials with the use of the acrylonitrile butadiene styrene (ABS) provides
better corrosion resistance and more durability in comparison with the
conventional products such as PVC. Such properties associated with the
acrylonitrile butadiene styrene (ABS) are likely to augment market growth
during the forecast period. Though, rising use of the styrene butadiene rubber
(SBR) is likely to limit growth of the acrylonitrile butadiene styrene market
in upcoming years. Styrene butadiene rubber (SBR) is largely used in the
production of tires and various automobile parts due to its high abrasion
resistance, is significantly hamper growth of the market.
Acrylonitrile Butadiene Styrene (ABS) is considered as a
terpolymer that signifies for a polymer derived from three distinct monomers.
The use of three distinct monomers include acrylonitrile, butadiene, and
styrene in different proportions as per prescribed. Each of monomers consists
of the unique property passed onto the acrylonitrile butadiene styrene such as
chemical and thermal stability, high tensile strength, attractive finishing.
The modification in the proportion of each of the material used for the
formation of acrylonitrile butadiene styrene (ABS) drastically changes the
physical functionality of ABS.
The key benefit associated with the use of the ABS is
that it blends the toughness and stiffness of acrylonitrile and styrene polymers
coupled with the flexibility of the polybutadiene material. Also, acrylonitrile
butadiene styrene is highly resilient against biochemical degradation by
alkaline or acidic agents.
The acrylonitrile butadiene styrene market is divided
into regional market segment such as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to the rising vehicle manufacturing and presence of prominent industry players
in the region. Asia-Pacific region is predicted to hold major market share in
the market with massive growth in forecast period. Countries such as India and
China are leading the Asia-Pacific market with growing demand from rising
construction, growing personal expenditure, and significant spending of
government agencies on infrastructure.
The key players in the acrylonitrile butadiene styrene
industry are LG Chemicals Industries, Asahi Kasei Inc., Chi Mei Co., Formosa
Plastics, Kumho Petrochemical Co., Ltd., Saudi Basic Industries Corporation,
BASF Co., and DuPont.
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