Transparency Market Research: Acrylonitrile Butadiene Styrene (ABS) Market Outlook
Albany, New York (PRWEB) August 28, 2014 -- Acrylonitrile butadiene styrene (ABS) is the most commonly used thermoplastic. It derives its name from the chemicals used in making it, namely, acrylonitrile, butadiene, and styrene. Its properties such as high impact strength and outstanding mechanical strength make it a widely used material in several industrial applications. Automotive parts, pipes, industrial appliances, machines, and telephone components are some of the most commonly seen uses of acrylonitrile butadiene styrene. ABS polymers are also resistant to aqueous acids, alkalis, alcohols and animal, vegetable and mineral oils, concentrated hydrochloric and phosphoric acids.
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One of the most revered properties of acrylonitrile butadiene styrene is its light weightedness. It is for this quality, that ABS is used in making several musical instruments, golf club heads, medical devices, protective headgears, toys, luggage and carrying cases, and many other household consumer goods. Owing to such a wide use of ABS its market is expected to grow at a substantial rate in the coming years.
Growing automobile sector is the biggest and the strongest market driver for ABS in the coming five years. Automakers’ demand for a high performance, better quality, but low weight material to reduce the vehicle’s weight, is driving the demand ABS. The next market driver for ABS is growing manufacturing industry in China, which is in great demand for a variety of plastics.
The market research report by Transparency Market Research provides a comprehensive outlook on acrylonitrile butadiene styrene market. Complete with SWOT analysis and Porter’s five forces analysis. This report is best suited for every industry enthusiast. The report aims to identify the present state of market, identify the market drivers, pinpoint its inhibitors, mark the opportunities, and provide solutions to deal with threats and weaknesses. This report is especially helpful to ABS manufacturers, dealers, suppliers, and policy makers to make informed decisions based on accurate data.
Brorwse full ABS Market Article: http://www.transparencymarketresearch.com/article/acrylonitrile-butadiene-styrene.htm.
Market Segmentation based on Application and Geography
- By Application
Acrylonitrile butadiene styrene is used for various purposes in several industries. It is used for making consumer appliances, electrical and electronic items, automotive parts, in consumer goods, and in the construction industry. It is a vital material in all these industries.
- By Geography
Market segmentation of acrylonitrile butadiene styrene as per geography suggests China to be the largest market share holder at 61%. Presence of manufacturing companies, automobile industries, and appliance manufacturing are the key reasons for this high share. This is followed by other Asian countries such as India, Korea, Japan, and Taiwan who are the second largest market share holders. Lastly, the as markets in North America and Europe are reaching maturity they will remain stagnant in the coming years.
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- What Lies Ahead
According to industry experts, the global ABS demand was valued at $16.2 billion in 2011 and is expected to reach $26.1 billion in 2018, growing at a CAGR of 7% from 2012 to 2018. So far, ABS’ applications in consumer and electronic appliances accounted for 32% of its demand and consumption. However, in the coming five years it is likely to be dominated by the automobile industry. In terms of volume, acrylonitrile butadiene styrene was 6,800 kilo tons in 2010 and is expected to grow at a CAGR of 4.67% from 2012 to 2018. An overview of the North American ABS market shows the automotive sector consumed 104.7 kilo tons in 2011. However, by 2018 it is expected to reach 135.3 kilo tons, growing at a CAGR of 3.7% from 2012 to 2018. In terms of revenue the ABS market is expected to reach $465.5 million in 2018 from $306.8 million in 2011, growing at a CAGR of 5.67% from 2012 to 2018. The report further provides a competitive landscape with profiling of major industrial players such as LG Chemicals, Styron, Chi Mei Corporation, KKPC, Styrolution, Plastic Company, Formosa, Asahi Kasei, and SABIC.
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