Forming an integral fragment of the global polymers sector, acrylonitrile butadiene styrene market has established itself as one of the dynamically evolving businesses of all times. The product has been witnessing an ostensible adoption across various industries encompassing consumer goods, medical, and construction, subject to exceptional advantages like high chemical resistance, rigidity, brilliant impact strength, resistance to solvent cracking, and more. Other than the aforementioned characteristics, ABS also boasts of low heat and electricity conductivity, making it ideal for products that call in for electrical insulation protection.
According to a recent report by Global Market Insights, Inc., the global acrylonitrile butadiene styrene market is projected to account for a valuation of US$ 39.27 billion by 2027 end. In the modern era, the growth in the market is expected to come from the rising demand for 3D printing. Since acrylonitrile butadiene styrene poses a low melting point, it has been considered an ideal material for 3D printing.
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A gamut of potential trends, that are likely to augment the business space over 2021-2027, are discussed below:
Widened applications in electrical and electronics components
Acrylonitrile butadiene styrene is largely being used in various electrical and electronics products such as personal computers and discs, radio, TVs, telephones, and more. It is quite overt that rising sales of these electronics items would potentially bolster the market demand through the coming years. As per industry analysts, the electrical and electronics segment across the overall ABS market would capture a business share of 25% through 2027.
Ongoing construction activities across Asia Pacific
The construction sector across Asia Pacific is potentially expanding. The region is witnessing an outgrowing number of construction activities, which in turn is opening up new growth opportunities for the ABS market players to invest in the development of facilities that produce the polymers to suffice the surging product demand in the region. Citing an instance, a subsidiary of INEOS Group, had in 2020, announced building a plant with an annual capacity of 600,000 tons of ABS in the Zhejiang province of China. The move forms the company’s initiative to expand its petrochemical capacity in the region to cater to the increasing demand.
In the construction industry, ABS is used to produce plastic tubing and corrugate plastic structures. It has been reported that the APAC ABS market would grow at a CAGR of 5.1% through 2027.
Rising demand for consumer goods in the US
The United States acrylonitrile butadiene market is poised to garner significant returns through the coming years, owing to the rising application of the product across the consumer goods sector. The polymer is being used according to its diverse characteristics and as per the manufacturing requirements and applications of the end-products.
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Prolific technological advancements
Technological advancements in ABS alloys with enhanced strength would potentially propel product development, in turn, complementing the overall sales. Various industry behemoths have been focusing on the expansion of their product range and production capacities.
One such company, ELIX Polymers, in 2021, introduced medical pre-colored ABS materials, M203FC or M205FC, that are utilized for laser marking to ensure compliance with the U.S. and Europe medical packaging codes. This strategy would enable the firm to improve its offering for medical packaging applications.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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