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Acrylonitrile butadiene styrene alloy is a combined alloy created by a mixture of acrylonitrile butadiene styrene and other elements of a specified quantity. ABS alloys are categorized into polycarbonate ABS alloys and polyethylene terephthalate ABS alloys. ABS is a type of resin with enhanced mechanical strength and molding efficiency. They posses superior properties such as high tensile strength, corrosion resistance, decent structural stability , thermal resistance, low water absorption and others.
Increased global use of ABS polycarbonate alloys in the automotive sector is allowed to address significant opportunities for the producers of ABS alloys in the future due to its advantages such as high impact strength, good dimensional stability and creep resistance. Excellent dielectric and enhanced thermal control performance demonstrated by ABS alloys are driving the ABS alloys market. However, compatibility issues of ABS alloys products is a key factor restraining the ABS alloys market.
Key Market Driver -
Growth in the automotive industry drives the market.
Key Market Restraint -
Compatibility issues restrict the market growth
Based on product type, the market for global ABS alloy is further segmented into polycarbonate ABS alloys, polyethylene terephthalate ABS alloys, others. Based on application, the market for global ABS alloy is further segmented into automotive, electrical & electronics, architectural, others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global global ABS alloy market is fairly fragmented, with a number of global & regional players operating. Some of the key players in the global ABS alloy market includes Lotte Corporation, Chi Mei Corporation, Cheil Industries, Engineering plastic, Bayer, BASF, Kumho Petrochemical, LG Chem, Enichem, Sumitomo Corporation and others.
In terms of Geography, the global ABS alloy market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the market for ABS alloys owing to the demand for ABS alloys in the U.S. whch is expected to rise substantially during the forecast era, primarily owing to the rise in demand for these alloys in the automotive and electrical & electronics segments. The Asia-Pacific is experiencing substantial growth in the ABS alloy market due to rapid urbanization combined with growing purchasing power, leading to major investment in the automotive sector, which, in turn, is driving demand growth in these regions. The ABS alloys market in Europe is expected to be driven by predominant automobile base in this region. Middle East and Africa are expected to see rapid market growth due to the introduction of many production plants in the region, while Latin America is expected to transition towards slow growth due to the prevalence of alternatives on the market and not the industrial base so developed in these regions.
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