Acrylonitrile Butadiene Styrene Market size is poised to reach USD 43 Billion by the end of 2033, growing at a CAGR of 6% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of acrylonitrile butadiene styrene was USD 27 Billion. The growth of the market can be attributed to the immense opportunity for the development of the sports sector, which is estimated to boost the market’s growth in the coming years. For instance, as per the estimations, the from sports and recreation activities industry total income has increased to more than USD 13 billion in the year 2020. Further, since it has lightweight qualities, therefore acrylonitrile butadiene styrene (ABS) is expected to witness an increased demand in the automobile industry. ABS is employed in the production of a variety of vehicle components, such as seats, bumpers, dashboards, center consoles, interior trim, headliners, and lighting.
In addition to these, factors that are believed to fuel the market growth of acrylonitrile butadiene styrene (ABS) include the surging penetration of acrylonitrile butadiene styrene in the form of pipes and fittings in the construction sector, coupled with escalating demand for ABS materials from several end-use industries, including the electrical and electronics industry. In addition to this, growing consumer spending capacity, and the rising middle-class population is also expected to drive the growth of the global acrylonitrile butadiene styrene market during the coming years. For instance, the global middle-class population is estimated to rise from 7.5 billion in 2020 to 8 billion in 2030, with consumer spending of USD 40 trillion. Besides this, rising demand for household appliances is another key factor that is estimated to spur the global acrylonitrile butadiene styrene market size over the forecast period.
Growth Drive
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
6% |
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Base Year Market Size (2022) |
USD 27 Billion |
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Forecast Year Market Size (2033) |
USD 43 Billion |
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Regional Scope |
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Application (Appliances, Electrical & Electronics, Automotive, Building & Construction, Consumer Goods, Sports Equipment, Musical Instruments)
The global acrylonitrile butadiene styrene market is segmented and analyzed for demand and supply by application into appliances, electrical & electronics, automotive, building & construction, consumer goods, sports equipment, musical instruments, and others. Out of these segments, the appliances segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the rising demand for appliances such as safety helmets, sports equipment, vacuum cleaners, telephones, CCTV cameras, and cameras. Moreover, acrylonitrile butadiene styrene are used for the manufacturing of complex objects, and it is expected to increase the segment’s growth in the market. For instance, the global imported sales value of headgear in 2021 was topped at around USD 4,612,295.
Product Type (Transparent, Opaque, Colored)
The global acrylonitrile butadiene styrene market is also segmented and analyzed for demand and supply by product type into transparent, opaque, and colored. Amongst these three segments, the opaque segment is expected to garner a significant share. Since opaque ABS offers a wide range of physical characteristics, including excellent chemical resistance, high durability, toughness, gloss, and rigidity, it finds application in a variety of automotive-related applications. Additionally, owing to its qualities, it is highly used in a variety of applications, such as aircraft, automobiles, luggage, and computer parts manufacturing. Thus, the opaque segment is estimated to dominate the market owing to its highly advanced characteristics along with its surging use in various applications.
Our in-depth analysis of the global market includes the following segments:
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By Product Type |
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By Application |
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Asia Pacific Market Forecast
The Asia Pacific acrylonitrile butadiene styrene market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the escalating growth in the construction industry owing to the huge investment by the government in various infrastructural projects in the region. For instance, construction projects in Northeast Asia were predicted to increase by 5% to nearly USD 4.90 trillion in 2022, slightly higher compared with around USD 4.62 trillion in 2021. Furthermore, the surging demand for automobiles and the growing demand for ABS in the production of several electronic and electrical products are also anticipated to boost the market growth further over the forecast period in the region.
Latin America Market Forecast
Furthermore, the Latin America acrylonitrile butadiene styrene market is also estimated to display notable market growth by the end of 2033. The growth of the market can be attributed to the rising demand for automotive lightweight material for the production of lightweight vehicles in the region. For instance, in Latin America, the sale of lightweight vehicles such as battery electric vehicles rose from 1 thousand in 2018 to 9 thousand in 2020. In addition to this, a significant surge in economic growth, coupled with rapid urbanization, and a growing ratio of construction activities, are some further factors that are anticipated to accelerate the market size of acrylonitrile butadiene styrene over the forecast period in the region.
Covestro AG presented three new polycarbonate blends e.g., polycarbonate + acrylonitrile butadiene styrene blend called Bayblend T85 XAT at VDI Congress “Plastics in Automotive Engineering”.
CHIMEI Corporation collaborated with Mitsubishi Corporation to build a renewable plastic supply chain for the production of styrene monomer using bio-based hydrocarbons (Neste RE) and also its derivates of mass balance renewable plastics such as acrylonitrile butadiene styrene i.e., bio-ABS.
Author Credits: Smruti Ranjan, Rajrani Baghel
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