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.
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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.