Growing Demand for Household Appliances to Drive Acrylonitrile Butadiene Styrene Market
The Acrylonitrile Butadiene Styrene Market Size was valued at USD 21.31 Billion in 2022. The Low-Profile Additives market industry is projected to grow from USD 24.1 Billion in 2023 to USD 57.24 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.7% during the forecast period (2023 - 2030)
The global acrylonitrile butadiene styrene market is profiled in great detail in the latest research report from Market Research Future (MRFR), providing readers with a comprehensive overview of the market through its historical growth trajectory, present conditions, and future growth prospects. The historical stats of the acrylonitrile butadiene styrene market are detailed in the report, in order to provide readers with a complete overview of the market’s historical growth trajectory. The historical stats provided in the report also give analysts a solid platform to base future projections about the market. Based on this platform, future projections for the acrylonitrile butadiene styrene market’s growth trajectory over the forecast period are provided in the report. The leading players in the global acrylonitrile butadiene styrene market are also profiled in the report in order to give readers a comprehensive analysis of the leading players in the global acrylonitrile butadiene styrene market. The major drivers and restraints affecting the global acrylonitrile butadiene styrene market are also profiled in the report to provide readers a comprehensive overview of what’s making the market tick and what is holding the market back.
Acrylonitrile butadiene styrene is a type of thermoplastic-based polymer and is used in a wide range of applications due to its physical durability and resistance to chemicals and heat. Acrylonitrile butadiene styrene is obtained in the form of an amorphous powder, but can be molded into any shape imaginable to be used in a wide array of end uses. The growing construction industry is likely to be a major driver for the acrylonitrile butadiene styrene market over the forecast period. Acrylonitrile butadiene styrene is used in various applications in the construction industry, as it represents a cheap alternative to more expensive materials and provides comparable levels of resistance to heat and chemicals. Growing residential construction is likely to remain a major driver for the global acrylonitrile butadiene styrene market.
The growing demand for household appliances and electrical and electronics industry products is also likely to be a major driver for the global acrylonitrile butadiene styrene market over the forecast period. Due to its favorable physical characteristics, acrylonitrile butadiene styrene is used in the production of a wide range of household appliances made from plastic. Electrical and electronics components are also made from acrylonitrile butadiene styrene, as it presents a significant barrier against electric currents. This is likely to remain a major driver for the global acrylonitrile butadiene styrene market over the forecast period.
Competitive Leaderboard:
Leading players in the global acrylonitrile butadiene styrene market include Ravago Americas, Mitsui Chemicals Inc., Toray Industries Inc., BASF SE, SABIC, Formosa Chemicals and Fibre Corp., Kumho Petrochemical, Trinseo, INEOS Styrolution, and LG Chem.
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Segmentation:
The global acrylonitrile butadiene styrene market is segmented on the basis of application and region.
By application, the global acrylonitrile butadiene styrene suppliers market is segmented into appliances, electrical and electronics, automotive, building and construction, consumer goods, sports equipment, musical instruments, and others. The appliances segment holds the largest share in the global acrylonitrile butadiene styrene market, followed by the electrical and electronics segment. The appliances segment accounted for 31% of the global acrylonitrile butadiene styrene market in 2016. The growing demand for residential construction projects is likely to be a major driver for the global acrylonitrile butadiene styrene market over the forecast period, as household appliances are majorly used in residential construction projects. Electrical and electronics components also find significant usage in residential construction projects, leading to growing demand for acrylonitrile butadiene styrene.
Regional Analysis:
Asia Pacific is likely to be the dominant regional segment of the global acrylonitrile butadiene styrene market over the forecast period. The growing automotive and construction industries in Asia Pacific are likely to be the major driver for the acrylonitrile butadiene styrene market in the region. The construction industry in Asia Pacific is mainly driven by the growing urbanization in countries such as India and China.
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