The Asia Pacific Acrylonitrile Butadiene Styrene Market would witness market growth of 6.9% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 3,252.2 kilo tonnes, showcasing a growth of 23.1% (2020-2023).
Electroplatable grade in the Acrylonitrile Butadiene Styrene (ABS) market refers to a specialized type of ABS resin designed specifically for electroplating applications. ABS, known for its excellent mechanical properties and impact resistance, undergoes additional modifications to enhance its surface characteristics. This grade of ABS resin features improved adhesion properties, ensuring a strong bond between the plastic substrate and the metal plating layer during electroplating processes. Thus, the China market consumed 158.63 kilo tonnes of electroplatable grade chemical in 2023.
The China market dominated the Asia Pacific Acrylonitrile Butadiene Styrene Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $4,862.6 million by 2031. The Japan market is registering a CAGR of 6.2% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 7.5% during (2024 - 2031).
Manufacturers focus on product innovation to meet evolving market demands and regulatory requirements. This includes the development of high-performance ABS grades with improved mechanical properties, heat resistance, flame retardancy, and chemical resistance to cater to specific application needs. Also, environmental concerns and regulations are driving a shift towards sustainable practices in the market.
Moreover, technological advancements in polymer science and manufacturing processes enhance the production efficiency and quality of ABS resins. Advanced compounding techniques, polymerization methods, and additive technologies enable the development of ABS grades with tailored properties and performance characteristics.
China’s growing middle class and urbanization have increased retail sales of consumer electronics such as smartphones, tablets, laptops, televisions, and home appliances. ABS is widely used in manufacturing housing, casing, and structural components for these electronic devices due to its lightweight, durable, and aesthetically pleasing properties. In the first quarter of 2024, retail sales of consumer products in China increased by 4.7 percent yearly, as per the State Council Information Office of the People’s Republic of China. These sales are a key measure of the strength of the country’s consumption. The nation’s retail sales increased 5.2% annually in rural areas and 4.6% in urban areas. Therefore, due to the above-mentioned factors the market will grow in the future.
Free Valuable Insights: The Global Acrylonitrile Butadiene Styrene Market is Predict to reach USD 44.5 Billion by 2031, at a CAGR of 6.5%
Based on Type, the market is segmented into Opaque, Transparent, and Colored. Based on Manufacturing Process, the market is segmented into Emulsion Polymerization, Continuous Polymerization, Mass Polymerization, and Others. Based on Grade, the market is segmented into High Impact, Heat Resistant, Electroplatable, Flame Retardant, and Blended ABS. Based on Technology, the market is segmented into Injection Molding, Extrusion, Thermoforming, Blow Molding, and 3D Printing. Based on Application, the market is segmented into Appliances, Automotive, Electrical & Electronics, Consumer Goods, Construction, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Manufacturing Process (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Grade (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Technology (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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