Global acrylonitrile butadiene styrene market is expected to reach
USD 34.88 billion by 2022, according to a new report by Grand View Research, Inc.
Rising government funding for large-scale infrastructure projects in Asian
countries of China, India, and Indonesia is expected to propel construction
industry growth which in turn is expected to have a positive impact on product
demand over the next seven years.
Increasing need for light weight
automobiles on account of need for better fuel efficiency particularly in
developed regions including Europe and North America is expected to be a major
market driver.
Rising investments for innovative
product developments and high-quality manufacturing processes, is expected to
augment industry growth over the forecast period. Furthermore, strong economic
growth coupled with removal of barriers for foreign investments in India is
expected to spur construction sector which in turn will propel product demand
over the forecast period.
Countries including India, China
and Japan are expected to witness considerable growth in light of expanding
product manufacturing base. However, raw material price volatility and availability
of numerous biodegradable substitutes is expected to challenge the industry
over the next seven years.
Browse full research report on Global Acrylonitrile Butadiene
Styrene Market: http://www.grandviewresearch.com/industry-analysis/acrylonitrile-butadiene-styrene-market
Further key findings from
the report suggest:
- Automotive is expected to grow at a CAGR of above 6.0% in terms of volume from 2015 to 2022. Increasing use of the product in various automotive applications including manufacturing of external parts like bumpers, panels and handles due to its rigidity and toughness is expected to have a positive impact on the market over the next seven years.
- Electrical & electronics was one of the largest application segments and was estimated at over 2,100.0 kilo tons in 2014. Growth and development of electronics & electrical segment in China is expected to be the primary driver of this market over the forecast period. In addition, ease of processing and fabrication is expected to augment product demand in this sector over the next seven years.
- China was the largest market, estimated over USD 11.00 billion in 2014. Growing automobile industry, coupled with high infrastructural investment to meet the housing needs of the country is expected to have a positive impact on the products demand over the next seven years.
- The global market for ABS was fairly consolidated with the top four companies accounting for close to 60% of the market in 2014. Key companies in the market include LG Chemical, Chi Mei Corporation, Styrolution, Formosa Plastic Company, Kumho Petrochemical Company, Styron and SABIC.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the global ABS market on
the basis of application and region:
Acrylonitrile Butadiene Styrene (ABS) Application Outlook
(Volume, Kilo Tons, Revenue, USD Million, 2012 - 2022)
- Appliances
- Electrical and Electronics
- Automotive
- Consumer
- Construction
- Others
Acrylonitrile Butadiene Styrene (ABS) Regional Outlook
(Volume, Kilo Tons, Revenue, USD Million, 2012 - 2022)
- North America
- U.S.
- Europe
- Germany
- UK
- China
- Asia Pacific
- Japan
- India
- RoW
- Brazil
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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