On that account, a recent research by Global Market Insights, Inc., anticipates the acrylonitrile butadiene styrene market size to exceed a valuation of USD 39.27 billion through 2027.
The acrylonitrile butadiene styrene market is set to record massive gains through the ensuing years,Guest Posting driven by an increase in product innovations and technological advancements in ABS alloys. In addition, major market players such as CHIMEI, ELIX Polymers, and others are focusing on the expansion of product range as well as production capacities.
Supporting the same with a few instances:
In January 2021, INEOS Styrolution unveiled plans for the development of a demonstration facility at its Antwerp-based site for the test production of acrylonitrile butadiene styrene (ABS) plastic from recycled feedstock. The plans are intended to complement a demonstration unit that has been planned by project partner, Indaver.
In March 2021, ELIX Polymers rolled out medical pre-colored ABS materials, M205FC or M203FC, that are utilized for laser marking for ensuring compliance with the U.S. and Europe medical packaging codes. The strategy will help the company in enhancing its offerings for medical packaging applications.
Such developments are touted to boost the adoption of acrylonitrile butadiene styrene products in the coming years.
This growth is attributed to the multiple advantages of butadiene in ABS, which enhances strength and toughness. While acrylonitrile is responsible for the accordance of chemical & thermal stability, styrene provides a glossy finish to the finished polymer.
To add to that, acrylonitrile butadiene styrene is ideal for 3D printing and injection molding as it has a low melting point. The surging demand for desktop 3D printers coupled with emerging applications of ABS in 3D printing will escalate market growth through the coming years. ABS plastics and 3D FDM/FFF printers constitute a very popular combination for several applications.
Speaking of which, acrylonitrile butadiene styrene market from electrical & electronics applications will record 25% of the overall market share through 2027. ABS is extensively utilized in electrical & electronic products comprising telephones, personal computers & discs, DVD players, televisions, scanners, printers, radios, and computers.
Will North America emerge as a promising hub for acrylonitrile butadiene styrene market expansion through 2027?
North America acrylonitrile butadiene styrene market share will register substantial growth from 2021 to 2027 in the light of the emerging ABS applications, predominantly in the United States. The consumer goods production industry is set to witness the increasing adoption of ABS due to the surging demand for consumer goods along with an increase in the population.
The polymer is used as per its distinct characteristics and according to the manufacturing and application requirements of end-products.
Asia Pacific – an emerging center boosting acrylonitrile butadiene styrene market growth
The Asia Pacific ABS industry is set to record 75% of the overall market share in 2027 and is slated to register a CAGR of 5.1% through the estimated period. This rise is on account of the increasing adoption of the product in the appliances, consumer goods, and automotive industries.
Furthermore, a rise in the number of construction activities in developing economies is set to push acrylonitrile butadiene styrene market growth. ABS is utilized in the construction industry for the manufacturing of corrugated plastic structures and plastic tubing.
On the whole, emerging acrylonitrile butadiene styrene uses across the medical and construction sectors are expected to offer new growth opportunities and will escalate acrylonitrile butadiene styrene market share through the coming years.