Albany, NY -- (SBWIRE) -- 09/14/2017 -- Transparency Market Research (TMR), a market intelligence and research firm, has published a study on the global acrylonitrile butadiene styrene (ABS) market, estimating the market to exhibit a CAGR of 7.0% during the period from 2012 to 2018.
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The research study, titled "Acrylonitrile Butadiene Styrene (ABS) Market - Global Industry Analysis, Size, Share, Growth And Forecast 2012 - 2018", states that the increase in the demand for light weight and fuel efficient automobiles in the global arena is the key reason for the growth of the global ABS market.
On the other hand, the report also highlights that the rising concerns about the impact of ABS on the environment and the availability of other thermoplastics as alternatives are hampering the growth of this global market significantly.The market study analyzes the global ABS market on the basis of its application. Home appliances, automobiles, electrical and electronic appliances, consumer goods, and construction equipment are the main application areas for ABS. The consumer goods and electronic appliances segments dominate the global ABS market and collectively occupied a share of 32% in 2011. However, the report states that the automotive industry is poised to report the highest growth over the forecast period.
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In North America, the demand for ABS from the automotive industry was 104.7 KT in 2011 and by 2018, experts project it to reach 135.3 KT, expanding at a CAGR of 3.7% between 2012 and 2018, notes the market study.The market report also evaluates the global ABS market on the basis of its regional distribution. North America (the U.S), Europe (Italy and Germany), China, Rest of Asia (Japan, Taiwan, Korea, and India), and the Rest of the world are the key regional markets for ABS.
Among these, China is the global market leader for ABS and is likely to account for over 61% of the overall market by 2018. The presence of major manufacturing firms and a robust automotive industry are the main reasons for China to emerge as leading regional market for ABS, cites the market study.
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The Rest of Asia is likely to follow China in the near future. However, analysts at TMR expect the ABS markets in Europe and North America to remain stagnant over the forecast period as they already have reached maturity.Analysts at TMR expect the worldwide ABS market for to reach US$26.1 bn by 2018 from US$16.2 bn in 2011. In terms of revenue, the global ABS market stood at US$306.8 mn in 2011. Analysts expect it to report US$465.5 mn by 2018, exhibiting a CAGR of 5.67% over the forecast period.
LG Chemicals, Styrolution, Chi Mei Corp., Formosa Plastic Co., Styron, Kumho Petrochemical Co., Asahi Kasei, and Sabic are the major players operating in the global ABS market, states the research report.
Global Acrylonitrile Butadiene Styrene (ABS) Market Report is available at US$ 5795 -