Asia Pacific Acrylonitrile - Butadiene - Styrene (ABS) Resin Market - Segmented by End-User Industry, by Grade Type, and Geography - Growth, Trends, and Forecasts (2018 - 2023)
The Asia-Pacific acrylonitrile-butadiene-styrene (ABS) market is expected to witness a moderate growth during the forecast period, 2018 - 2023. The market is driven by the dynamic economic development in the Asia-Pacific region and the rapid growth in the automotive, construction, and consumer appliances industries during the forecast period.
Increasing Demand in Automotive Industry
Acrylonitrile-butadiene-styrene (ABS) is a high-performance thermoplastic, whose application in the automotive industry is rapidly increasing. ABS serves the automotive industry in various forms of application, including manufacturing of high-quality automotive instrument panels, wheel covers, dashboard components, pillar trim, door liners & handles, seat backs, and seat belt components. Furthermore, the growing demand for lightweight & high-performance plastics in the automotive industry to provide increased efficiency and design flexibility is driving the demand for the ABS resin market during the forecast period.
Growing Usage in Electrical & Electronics
The demand for ABS is increasing in the electrical & electronics industry due to the advantageous properties of ABS, such as enhanced flame resistance, structural strength, and the flexibility of several different formulations to provide impact resistance and toughness. It is also resistant to many corrosive media, such as water, salts, food acids, inorganic acids, and alkali, and this has made it a material of choice in most of the electrical insulation applications.Composites, such as Polycarbonate/ABS, PMMA/ABS, glass reinforced, carbon fiber reinforced, stainless steel fiber reinforced and others, with enhanced impact as well as flame resistance are being excessively used in most consumer electronics devices, industrial electronics applications, household and food handling appliances, etc.
China to Dominate the Market
China’s electrical & electronics industry has recorded a stupendous growth during the recent decade, primarily due to the burgeoning demand of the consumer/household electronic appliances. Additionally, the revenue for the electric component manufacturing industry in China is expected to increase the consumption of EMI shielding grade ABS blends in electrical housings & cabinets, wires & cables, and other electronic assemblies. Furthermore, the voluminous production of electrical components and the rapid growth of China’s electric & electronic industry are expected to increase the consumption of ABS in Chinese markets during the forecast period.
Major Players: 3M, BASF SE, Covestro, and SABIC, among others.
Reason to purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To identify the end-user industry that is expected to dominate the market
Countries that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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