Acrylonitrile Butadiene Styrene Market Size, Share & Industry Analysis, By Application (Appliances, Automotive, Consumer Goods, Construction, Electronics, and Others), and Regional Forecast, 2020-2027

The global acrylonitrile butadiene styrene market size was USD 25,135.0 million in 2019 and is projected to reach USD 42,809.5 million by 2027, exhibiting a CAGR of 6.9% during the forecast period. Asia Pacific dominated the acrylonitrile butadiene styrene market with a market share of 56.67% in 2019. Moreover, the U.S. acrylonitrile butadiene styrene (ABS) market is projected to reach USD 4,254.1 million by 2028, fueled by durable, lightweight plastics in automotive and consumer goods.

Acrylonitrile Butadiene Styrene (ABS) is a rigid thermoplastic polymer that provides properties such as flexibility, resilience to temperature, and good appearance. These materials have major applications in the electronic appliances and automotive sectors, where they are used for vehicles and auto parts manufacturing. Other applications include the usage of ABS in the construction industry, electronics industry, consumer goods, and the manufacturing of household appliances. The high demand for ABS polymer can be associated with the high demand for plastics from the aforementioned end-use industries. The rising demand from the medical industry is also supporting the growth of the ABS market due to the spread of the coronavirus, which in turn is leading to high demand for medical equipment such as insulin pens, respiratory devices, miniature implants, and others. All these factors are driving the demand for ABS, thus supporting the market’s growth.

Disruptions in Supply Chains amid the COVID-19 Outbreak to Disturb the Market Growth Trajectory

The coronavirus pandemic has massively affected the plastics industry, resulting in the temporary halting of manufacturing and other trade activities. The stoppage in manufacturing due to the pandemic has further caused a decline in economies due to the reduction in demand from consumers and various end-use industries, leading to unprecedented disruptions in the plastics supply chain. Lockdowns in several major economies have also had a significant impact on the trading and distribution activities of several manufacturing companies, further affecting the pricing of raw materials as well as finished goods.

However, the market is expected to stabilize due to the high demand for plastic for applications in the healthcare and medical industry. This growing demand is expected to support the stabilization of the ABS market growth in the coming years.

GLOBAL ACRYLONITRILE BUTADIENE STYRENE (ABS) MARKET OVERVIEW

Market Size & Forecast:

• 2019 Market Size: USD 25.14 billion
• 2027 Forecast Market Size: USD 42.81 billion
• CAGR: 6.9% from 2020–2027

Market Share:

• Asia Pacific led the global acrylonitrile butadiene styrene market in 2019 with a 56.67% share, generating a market value of USD 14.24 billion, slightly down from USD 14.43 billion in 2018 due to regional market fluctuations. The dominance of the region is driven by robust demand from automotive, construction, electronics, and household appliances sectors.
• By application, the appliances segment held the largest market share in 2019 due to demand for products like vacuum cleaners, helmets, and consumer electronics. The automotive segment is expected to grow at the fastest pace, owing to demand for lightweight, high-strength plastic components. The others segment held a 7.61% share in 2019.

Key Country Highlights:

• United States: The U.S. ABS market is projected to reach USD 4.25 billion by 2028, supported by high consumption in automotive and consumer goods applications. In 2019, the automotive segment accounted for 14.25% of the U.S. ABS market.
• China & India: Asia Pacific's dominance is driven by China’s massive electronics and auto manufacturing sectors and India’s infrastructure development. Rising disposable incomes and rapid urbanization are key contributors to market growth.
• Germany: A major contributor in Europe, Germany’s advanced auto manufacturing sector is driving ABS demand for lightweight and durable plastic parts.
• Brazil & Mexico: In Latin America, growing construction and manufacturing activity, especially in Brazil and Mexico, is creating favorable conditions for ABS demand.
• Saudi Arabia & UAE: The Middle East & Africa benefit from abundant raw materials, enabling low-cost production. Rising consumer demand for appliances and electronics in urbanizing economies is further fueling market expansion.

Acrylonitrile Butadiene Styrene Market TRENDS

High Demand for Acrylonitrile Butadiene Styrene from Various End-Use Industries to Aid Market Growth

The adoption of lightweight vehicles is increasing worldwide due to the rising demand for fuel-efficiency to control CO2 emissions. ABS materials are used for the manufacturing of various auto parts such as bumpers, interiors, seating, center consoles, and others. The extensive utilization of these materials in the automotive industry is mainly due to their excellent properties, such as chemical resistance, lightweight density, and high strength. ABS is also used for airplane panels, interiors, and compartments. Moreover, the pandemic has further increased the demand for ABS in the medical and consumer goods industries for applications such as medical equipment and household appliances manufacturing. The growing rate of population has also led to an increase in construction activities worldwide, which is further driving the market growth of acrylonitrile butadiene styrene (ABS). 

Acrylonitrile Butadiene Styrene Market Growth FACTORS

Increasing Demand for Lightweight Vehicles Shall Support the Growth of the Market

The increasing demand from consumers for lightweight vehicles has led to innovation in the automotive industry that acts as a driving factor for the growth of the ABS market. The high growth rate of the global population has contributed to the increasing demand for efficient automobiles. These materials are used for various applications in an automobile, such as bumpers, exterior panels, dashboards, and others. The highly beneficial properties of ABS make the material ideal for use in the making of lightweight vehicles, thus creating high demand and propelling the market. Moreover, the growth in other sectors such as appliances manufacturing, construction, consumer goods, and electronics is also a major factor supporting the market’s growth.

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RESTRAINING FACTORS

Competition from Substitutes May Hinder Market Growth

Acrylonitrile butadiene styrene has seen a major demand growth from various end-use sectors. This, however, has also led to the development and introduction of substitutes in the market. These substitutes include styrene-butadiene rubber (SBR), which acts as a restraining factor for market growth. SBR offers properties of rubber, such as high abrasion resistance, which are essential for tire manufacturing and other parts of vehicles. According to the UN Environment Program (UNEP), 79% of plastic waste is dumped in the environment, leading to rampant plastic pollution. Governmental regulations over the protection of the environment and limiting the use of non-renewable resources further hinder the market supply chain, restraining its growth in the process.

Acrylonitrile Butadiene Styrene Market SEGMENTATION Analysis

By Application Analysis

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Appliances Segment to Hold the Major Share in the Market

On the basis of application, the market is segmented into appliances, automotive, consumer goods, construction, electronics, and others. The appliances segment dominated the market due to the high demand for appliances such as safety helmets, sports equipment, vacuum cleaner, cameras, and telephones. The technological advancements in electrical and electronics have led to high demand for the aforementioned finished products. Moreover, ABS is a good substitute for PVC, where it can be used for construction applications such as tubes and pipes, flooring, and others.

The automotive segment is expected to grow at the fastest pace owing to the increasing consumer demand for lightweight vehicles. Acrylonitrile butadiene styrene is used in the making of several auto parts such as dashboard, bumpers, exterior panels, and others. Using ABS material for these components lowers the overall weight of an automobile, thus creating high demand. Moreover, technological advancement and innovations in the automotive industry are further supporting the increasing market size of ABS. The Others segment is expected to hold a 7.61% share in 2019.

REGIONAL INSIGHTS

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North America

North America is estimated to have a significant revenue share in the global market, which can be associated with rapid technological advancements, innovations, and the high spending power of consumers in the region. The increased production of and demand for cost-efficient and lightweight automobiles from consumers and the growth in the construction industry have been the leading factors for the development of the regional market. This growing demand is supported by the high economic status of countries in the region, which in turn is driving the ABS market. Moreover, the demand from the medical industry during the pandemic has also been supporting the market for acrylonitrile butadiene styrene.

• In U. S., the Automotive segment is estimated to hold a 14.25% market share in 2019.

Asia Pacific

Asia Pacific dominated the acrylonitrile butadiene styrene market share and is estimated to have a value of USD 14,244.2 million in 2019, which can be attributed to the increasing demand for ABS materials from various end-use industries that include automobile, construction, and others. The economic development of countries such as China and India has led to a substantial growth in the region’s construction industry, additionally driven by improvements in lifestyles and government infrastructure projects. China dominated the Asia Pacific region due to high population growth and rising disposable incomes. Moreover, a growing middle-class population is further fueling the demand for cost-effective and lightweight automobiles.

• Asia Pacific witnessed a growth from USD 14432.8 Million in 2018 to USD 14244.2 Million in 2019.

Europe

Europe is expected to exhibit considerable growth during the forecast period. This growth can be linked to the rising demand for efficient, lightweight automobiles from a diverse set of consumers. Improving consumer lifestyle and technological innovations are the key drivers for the increasing demand for automobiles offering fuel efficiency and creating market opportunities. Germany is one of the major countries for automotive manufacturing, and the economic growth within the country is supporting the development of cost- and fuel-efficient solutions in the automotive industry.

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Latin America

Latin America and the Middle East & Africa are expected to have substantial growth during the forecast period. In Latin America, Brazil and Mexico are expected to generate multiple opportunities for market players on account of their rapid economic growth, speedy urbanization, and increasing construction activities. Moreover, the adoption of advanced technologies has led to high consumption of ABS for applications in the construction and consumer goods industries.

Middle East & Africa

Furthermore, the Middle East & Africa is a major location for raw materials, providing easy access to the domestic manufacturers in the region and leading to low-cost production. Moreover, the region’s growing economy is leading to massive urbanization, which in turn is causing a high demand for finished goods from electrical appliances, consumer goods, and other sectors.

KEY INDUSTRY PLAYERS

Joint Ventures and Capacity Expansion are the Key Strategic Initiatives Implemented by Top Companies

Key players operating in this market include BASF, 3M, Covestro AG, and INEOS. The companies profiled are involved in capacity improvements, product innovations, acquisitions, collaborations, and mergers to gain a competitive edge in the global market. For example, the Asahi Kasei Group has proactively expanded its production capacity for identified acrylonitrile (AN) and solution-polymerized styrene-butadiene rubber (S-SBR) for fuel-efficient tires overseas, mainly in Asia, as a strategic management initiative.

List of Top Acrylonitrile Butadiene Styrene Companies:

• BASF (Ludwigshafen, Germany)
• 3M (Minnesota, United States)
• Covestro AG (Leverkusen, Germany)
• INEOS (London, UK)
• SABIC (Riyadh, Saudi Arabia)
• LG Chemicals (Seoul, South Korea)
• Chi Mei Corporation (Tainan City, Taiwan)
• Asahi Kasei Corp. (Tokyo, Japan)
• KUMHO PETROCHEMICAL (Seoul, South Korea)
• Formosa Chemicals & Fibre Corp (Tainan City, Taiwan)
• Other Key Players

KEY INDUSTRY DEVELOPMENTS:

• In June 2021 – Nexeo Plastics and Covestro launched the new Polycarbonate/ABS 3D printing filament Addigy FPB 2684 3D. This filament is available from now on via Nexeo Plastics’ distribution platform. With this launch, the company will continue to invest and expand their 3D printing product portfolio and support services.
• In January 2021 – INEOS Styrolution builds a demonstration plant at its Antwerp, Belgium, site to test production of ABS plastic from recycled feedstock. The project, called “LIFE ABSolutely Circular” aims at demonstrating the environmental and economic benefits of using advanced recycling technologies to close the loop of plastic recycling.
• In July 2020 – BigRep, introduced ABS and ASA, two new BigRep certified, engineering-grade materials for applications in the automotive industry and for consumer products such as outdoor or sports applications. Both versatile and impact-resistant, the new ABS (Acrylonitrile Butadiene Styrene) is suited for mobility applications and a variety of end-use consumer appliances

REPORT COVERAGE

An Infographic Representation of Acrylonitrile Butadiene Styrene (ABS) Market

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The global acrylonitrile butadiene styrene market report provides a detailed analysis of the market and focuses on crucial aspects such as leading companies, sources, applications, and products. Also, the report offers insights into market trends and highlights vital industry developments. In addition to the factors mentioned above, the report encompasses various factors that have contributed to the growth of the market over recent years.

Report Scope & Segmentation