Technavio has announced the release of their research report on the global acrylonitrile butadiene styrene (ABS) market for the forecast period 2019-2023. This ABS market analysis report segments the market by application (appliances, electrical and electronics, automotive, construction, and others) and geography (APAC, Europe, MEA, South America, and North America).
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Technavio has released a new market research report on the global acrylonitrile butadiene styrene market for the period 2019-2023. (Graphic: Business Wire)
Global ABS market size will grow by almost 2756.20 thousand tons during 2019-2023, at a CAGR of nearly 6%. With an increase in demand, major end-user industries are expected to use recycled ABS to reduce costs as their virgin counterparts are more expensive. Furthermore, stringent regulations and mandates boosting the use of recycled plastics are also driving the recycled ABS plastics market. The recycled ABS can be used in appliances, automotive, construction, electrical and electronics, 3D printing, and others.
Rising demand for ABS from the automotive sector
The automotive industry is the largest consumer of ABS as it is one of the materials that can be used as a substitute for metal components. The major automotive manufacturing countries such as China, Germany, India, France, Italy, South Korea, Japan, and the US have been using ABS in automotive components. Therefore, these automobile manufacturing hubs will drive the demand for ABS during the forecast period owing to its use in the production of vehicles.
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"APAC region is expected to witness the highest incremental growth during the forecast period. In China, Cambodia, and Vietnam, ABS is extensively used in automotive, construction, agriculture, food and beverages, and chemicals applications. The high demand for ABS in these countries will significantly drive the regional ABS market", says an analyst at Technavio.
During the forecast period, the demand for ABS from China will increase as many OEMs have been shifting their manufacturing bases to the country owing to several factors such as the easy availability of land and raw materials, inexpensive labor, and lenient government regulations and policies on the use of ABS.
View a snapshot of the report for a more detailed overview of the market and the segmentation covered in this report
This ABS industry research report provides an in-depth analysis of the primary drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several ABS products manufacturers including
- Asahi Kasei
- BASF
- JSR
- Mitsui Chemicals
- SABIC
- TORAY INDUSTRIES
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Technavio's report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base includes enterprises of all sizes, including more than 100 Fortune 500 companies.
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