The global acrylonitrile butadiene styrene (ABS) market size
is projected to reach USD 34.88 billion by 2022, according to a new report by
Grand View Research, Inc., exhibiting a CAGR of 7.1% over the forecast period.
Increasing demand for lightweight automotive parts is likely to be a major
factor driving market growth over the forecast period. Increasing use of the
product in consumer goods, appliances, automotive ancillaries, and construction
owing to light weight and high strength is also likely to contribute to market
growth.
One of the major reasons behind
increasing demand for lightweight automotive materials is need to reduce CO2 emissions.
According to the International Energy Agency (IEA), greenhouse gas emissions
are expected to reach 3.1 metric gigatons by 2020. This is likely to propel
demand for lightweight parts in the automotive industry, which in turn, is
estimated to drive demand for the product over the forecast period.
Growing product demand in the
automotive sector in various countries including South Korea, India, Malaysia,
and Indonesia is likely to fuel market growth over the forecast period. High
sales of commercial cars, passenger cars, and motorcycles are expected to
promote industry expansion in the near future.
Acrylonitrile butadiene styrene (ABS)
is widely used in automotive interior components such as trims, center console,
interior grills, headliners, and exterior and interior mirrors. The growing
automotive industry is likely to have a positive impact on market growth over
the forecast period.
Browse full research report on Acrylonitrile Butadiene Styrene
(ABS) Market: https://www.grandviewresearch.com/industry-analysis/acrylonitrile-butadiene-styrene-market
Further key findings from the report suggest:
- China accounted for a major revenue share in the global
market owing to increase in vehicle production in the country. It is
projected to witness a CAGR of 7.6% in terms of revenue over the forecast
period
- Rest of Asia is likely to expand at a CAGR of 7.5% in terms
of revenue from 2015 to 2022 owing to increasing construction activities
in emerging economies in the region
- Demand for the product is likely to witness a CAGR of 5.7% in
terms of volume in the electrical and electronics application. The product
is widely used in this sector due to its insulation property
- The construction segment is likely to witness a CAGR of 7.9%
in terms of volume over the forecast period owing to increasing
construction activities across the globe
- LG Chemical, Styrolution, and Chi Mei Corporation were the
major players in the market in 2014.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/acrylonitrile-butadiene-styrene-market/request/rs1
Grand View Research has segmented the global acrylonitrile
butadiene styrene market on the basis of application and region:
Acrylonitrile Butadiene Styrene Application Outlook (Volume
Kilotons, Revenue, USD Million, 2012 - 2022)
- Appliances
- Automotive
- Consumer
Goods
- Construction
- Electrical
And Electronics
- Others
Acrylonitrile Butadiene Styrene Regional Outlook (Volume
Kilotons, Revenue, USD Million, 2012 - 2022)
- North
America
- U.S.
- Europe
- Germany
- Italy
- China
- Rest
of Asia Pacific
- Japan
- India
- South
Korea
- Taiwan
- Rest
of The World
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.
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