(PRWEB) June 06, 2014
The global market for acrylonitrile butadiene styrene is experiencing a strong growth mainly due to the rising demand from its end-use applications and also from wind energy applications. Modern technologies and innovations in applications, products, and design solutions are making a wide impact on the growth of this industry globally. Strong growth in glass-fibre reinforced plastic, powder coatings, composites, automotive parts, and green resins is creating the need for innovative designs and applications. Companies are creating high performance materials, technological solutions, innovative applications, and product developments to meet the needs of the market. Major applications in the wind energy sector include manufacturing of wind blades, nacelles, rotors, nose cones, and ventilation.
The Asia-Pacific acrylonitrile butadiene styrene market is expected to grow at a CAGR of 4.6% from 2013 to 2018 to reach $6,683 million by 2018. In terms of global coating additives consumption, the APAC market is the largest in the world, followed by Europe and North America, and it is also one of the most promising markets for acrylonitrile butadiene styrene, both in terms of production as well as consumption. The Asia-Pacific region is driving the styrene polymers market contributing to more than 50% of the global demand. With increasing GDP growth rates and urbanization, there has been an escalation in the demand for the styrene derivatives for different end-use applications.
Browse through the market data tables, figures and detailed ToC on the “Asia Pacific Acrylonitrile Butadiene Styrene Market” - http://www.micromarketmonitor.com/market/asia-pacific-acrylonitrile-butadiene-styrene-6142914407.html.
European Acrylonitrile Butadiene Styrene Market
The European acrylonitrile butadiene styrene market is expected to grow at a CAGR of 2.8% from 2013 to 2018 to reach $1,036 million by 2018. Europe is the second largest consumer of acrylonitrile butadiene styrene after Asia-Pacific. The European market constitutes 11.7% of the global acrylonitrile butadiene styrene market. The major countries in Europe that consume acrylonitrile butadiene styrene include Germany, Italy, and France. The appliance industry is the major consumer in this region contributing to 43% of consumption.
North American Acrylonitrile Butadiene Styrene Market
The North American acrylonitrile butadiene styrene market is expected to grow at a CAGR of 2.3% from 2013 to 2018 to reach $748 million by 2018. North America is the third largest market for acrylonitrile butadiene styrene after Asia-Pacific and Europe globally. In 2013, North America accounted for 9.0% of the global acrylonitrile butadiene styrene consumption. This market is driven by end-users in the region including appliance, E&E, and transportation industries, which together contributes to 68.5% of the total demand.
South American Acrylonitrile Butadiene Styrene Market
The acrylonitrile butadiene styrene market in South America, the Middle East and Africa is expected to grow at a CAGR of 3.2% from 2013 to 2018 to reach $385 million by 2018. South America contributes to a small percentage in terms of global coating additives consumption. The economic downturn in South America has affected the region’s acrylonitrile butadiene styrene leading to a slow volume growth. But the Middle East and African market is one of the major emerging markets for acrylonitrile butadiene styrene, both in terms of production as well as consumption due to the steady recovery from the economic slowdown.
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