New York, NY -- (SBWIRE) -- 12/18/2020 -- The global ABS (Acrylonitrile Butadiene Styrene) Resin market is forecast to grow to USD 50.63 Billion by 2027, according to a recent report by Reports and Data. It is an engineering plastic, ideal for structural applications where impact resistance, stiffness, and strength are required. The applications of ABS resin is widespread in several industries including, automotive, healthcare, consumer goods, and construction.

Market Drivers
The valuation for the ABS Resin market was USD 28.93 Billion in 2019, and forecasts show it will grow at a rate of 7.2% and reach USD 50.63 Billion by 2027. The automotive industry is the largest consumer of ABS resin. ABS resins are used in making plastic goods for office, automotive exterior, and many others. The varied application of ABS resin is one of the main reason for the growth of the industry.

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Key participants include LG Chemicals, Asahi Kasei, Chi Mei Corporation, Formosa Plastic, KKPC, SABIC, Styron, Styrolution, and BASF, among others.

For the purpose of this report, Reports and Data have segmented into the global ABS Resin market on the basis of grade, applications, end users, and region:

Grade Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
- Flame Retardant
- Impact
- Platable
- Gloss
- Flow
- Composite Grades

Applications Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
- Musical Instrument
- Automotive Umper Bars
- Medical Devices
- Appliance

End Users Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
- Automotive
- Healthcare
- Consumer Goods
- Construction

Regional Outlook
The Asia Pacific region, mainly China, has been dominating the market in the year 2019. The regional market has potential to grow even further during the forecast period. The massive migration of manufacturing units to China has resulted in high demand for ABS resin in the country. Moreover, the growth of the appliance market in the forecast period, owing to the enormous middle-class population in the country will provide a great boost to the ABS resin market. The growing production of vehicles in major automotive manufacturing countries, such as Germany, France, China, Japan, South Korea, India, Italy, and the U.S. will augment the demand for the market.

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Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
- North America
o U.S
- Europe
o U.K
o France
- Asia Pacific
o China
o India
o Japan
- MEA
- Latin America
o Brazil

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The following timeline is considered for market estimation:
- Historical Years: 2017-2018
- Base Year: 2019
- Estimated Year: 2020
- Forecast Duration: 2020-2027

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