According to a new report, published by KBV research, The Global Acrylonitrile Butadiene Styrene Market size is expected to reach $44.5 billion by 2031, rising at a market growth of 6.5% CAGR during the forecast period. In the year 2023, the market attained a volume of 8,820.3 Kilo Tonnes experiencing a growth of 22.7% (2020-2023).
The Opaque segment is showcasing a CAGR of 6.1 % during the forecast period. Opaque ABS grades offer diversity in application across various industries, including consumer goods, appliances, electronics, automotive, and construction. These materials can be used in various products and components, including housings, enclosures, panels, covers, and structural parts, making them highly sought after for diverse applications.
The Emulsion Polymerization segment is generating the highest revenue in the Global Acrylonitrile Butadiene Styrene Market by Manufacturing Process in 2023; thereby, achieving a market value of $17.2 billion by 2031. Emulsion polymerization is a cost-effective manufacturing process for producing ABS resin. This process involves dispersing monomers in water with the aid of surfactants and initiators, forming polymer particles.
The High Impact segment is registering a CAGR of 5.7 % during the forecast period. Industries such as automotive, construction, and consumer goods have stringent safety requirements for products and components. High impact ABS grades provide an added level of safety and reliability, reducing the risk of product failure or damage during use.
The Injection Molding segment led the Global Acrylonitrile Butadiene Styrene Market by Technology in 2023; thereby, achieving a market value of $20.3 billion by 2031. Injection molding allows for high-speed production of ABS parts, making it ideal for mass production requirements. This is particularly advantageous for industries with high-volume production needs, such as automotive and consumer electronics, where millions of parts may need to be manufactured quickly.
The Appliances segment is growing at a CAGR of 4.5 % during the forecast period. ABS is known for its excellent impact resistance, crucial for appliances subject to frequent handling or accidental impacts. Appliances such as vacuum cleaners, kitchen appliances, and electronic devices often require materials that can withstand rough usage, making ABS an ideal choice.
Full Report: https://www.kbvresearch.com/acrylonitrile-butadiene-styrene-market/
The Asia Pacific region dominated the Global Acrylonitrile Butadiene Styrene Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $17.5 billion by 2031. The North America region is anticipated to grow at a CAGR of 5.8% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 6.1% during (2024 - 2031).
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 Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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