Acrylonitrile Butadiene Styrene Market Size
Acrylonitrile Butadiene Styrene Market size was recorded at more than USD 30.74 billion in 2023 and is anticipated to reach more than 5.7% CAGR from 2024-2032 due to its wide applications and better material properties.
ABS is greatly preferred for its fine impact resistance, toughness, and ease of manufacturing, which are highly sought in a range of industries.
For example, in February 2022, PolyREC was designated as an official data collector for Circular Plastics Alliance (CPA) to track European recycled plastics using the RecoTrace system. In the automotive sector, ABS is used extensively in products like dashboards, wheel covers and body panels. With its low weight, this chemical compound aids in lowering vehicle weight, fuel efficiency, and carbon emissions.
Increased application in the production of household appliances, toys, and electronics to provide outstanding aesthetic qualities, such as glossy surfaces and color softening effects will also influence the market growth. The increased use of electronic devices, facilitated by technology advancement and rising disposable incomes has seen the demand for ABS remain high. The ability of the material to be recycled and the low cost associated with it also contribute to its popularity among manufacturers looking to produce high-quality products at affordable prices.
Acrylonitrile Butadiene Styrene Market Report Attributes
Report Attribute Details
Base Year 2023
Acrylonitrile Butadiene Styrene Market Size in 2023 USD 30.74 Billion
Forecast Period 2024 – 2032
Forecast Period 2024 – 2032 CAGR 5.7%
2024 – 2032 Value Projection USD 50.95 Billion
Historical Data for 2021 – 2023
No. of Pages 250
Tables, Charts & Figures 268
Segments covered Technology, Application
Growth Drivers:
Growing demand for lightweight automobiles to achieve improved fuel efficiency
Rising demand for ABS from China
Rising home appliances market
Pitfalls & Challenges:
Competition with other thermoplastics
Environmental issues
Yet, ABS production and disposal can be a source of environmental pollution since it is a biodegradable plastic that will stay in landfills and oceans for years. This has prompted increased regulatory oversight and the need for more complexity, further discouraging ABS requirements. Fluctuating prices of raw materials like acrylonitrile, butadiene and styrene because of volatile oil prices and supply interruptions could also cap the product uptake to some degree.
Acrylonitrile Butadiene Styrene Market Trends
The growing use of 3D printing technology, wherein ABS is a material of choice owing to its superior mechanical properties and easy processing will support the market growth. The high demand for tailor-made toughness in the healthcare, automotive and aerospace sectors is driving product uptake in additive manufacturing. The trend of miniaturization and intelligent electronics is accelerating the manufacture of lightweight, resilient, and high-performance components. The production of bio-based ABS to overcome the environmental issues by introducing renewable resources is thus increasing the sustainability of the products.
For example, in March 2024, Meltio launched its new M600 3D printer at the AMUG conference in Chicago with a Blue Laser deposition head for production at an industrial scale in machine shops and 24/7 settings.
Acrylonitrile Butadiene Styrene Market Analysis
Discover more about the major segments defining this market
Based on application, the market value from the appliances segment recorded over USD 9.4 billion in 2023 and will generate over USD 15.7 billion by 2032 due to ideal properties for manufacturing durable, aesthetically pleasing, and high-performance household appliances. ABS is commonly applied in appliance manufacturing, including refrigerators, washing machines, vacuum cleaners, and kitchen appliances because of its excellent impact resistance, high tensile strength, and easy assembly. The ease of coloring and finishing to a glossy surface also makes it a popular option for appliance exterior applications.
Acrylonitrile Butadiene Styrene Market Share
Market leaders ABS companies are developing their product lines to meet diversified industry needs with specialized grades for particular applications such as automotive parts, electronics enclosures, and building materials. More R&D investment to create new synthetics, such as bio-based ABS is enabling the companies to maintain competitiveness and adapt to evolving environmental regulations. Strategic alliances and associations with raw material producers, distributors and end-use customers will allow access to the market and widen geographic coverage.
Acrylonitrile Butadiene Styrene Market Companies
Major players operating in the acrylonitrile butadiene styrene industry include
- LG Chem, Ltd.
- Ampa Plastics Group (Pty) Ltd.
- INEOS Styrolution Group GmbH
- Dow Chemical
- CHIMEI
- Toray Industries, Inc.
- Röchling
- Kumho Petrochemical
- ELIX Polymers
- SABIC
- Trinseo S.A. (Styron)
- China Petroleum & Chemical Corporation (SINOPEC)
- Formosa Chemicals & Fibre Corp.
- Asahi Kasei Corporation
- BASF SE
