Stringent government regulations regarding reduction in automobile weight and carbon emissions are the key factors enhancing the acrylonitrile butadiene styrene market growth.
Sellbyville, DE -- (SBWIRE) -- 05/17/2019 -- Global Market Insights recently introduced new report on global Acrylonitrile Butadiene Styrene (ABS) market with an in-depth study providing complete analysis of the industry size, share and statistics for the period 2019 to 2024. It also provides complete overview of Acrylonitrile Butadiene Styrene (ABS) industry considering all the major industry trends, market dynamics and competitive scenario.
Stringent government regulations regarding reduction in automobile weight and carbon emissions are the key factors enhancing the acrylonitrile butadiene styrene market growth. Increasing ABS imports particularly in China due to its growing demand from electrical & electronics products, industrial, and household appliances will propel the industry growth.
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Potential applications in construction, electrical & electronics and home appliances will propel the acrylonitrile butadiene styrene market growth. Superior properties including fire retardation, high strength, lightweight and better surface appearance will further enhance the industry share.
Increasing overall construction expenditure coupled with rising government spending on infrastructure development will fuel the acrylonitrile butadiene styrene market. Moreover, expansion in the global automotive industry is the key factor enhancing the product penetration.
Automotive acrylonitrile butadiene styrene market is estimated to witness gains over 4% up to 2024. Increased product usage in locomotive parts including steering covers, body panels, tires and bumpers has positively influenced the industry growth.
Electrical & electronics industry will witness CAGR over 3.5% up to 2024. Increasing customer purchasing power and changing lifestyles are the key factors fueling business growth. Growing demand for corrosion and temperature resistant materials in computer accessories, electronic devices, and business machine will support the product penetration.
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The U.S. acrylonitrile butadiene styrene market was worth exceeding USD 3 billion by 2024. Growth in consumer goods industry due to development of innovative products and changing lifestyles will propel the product demand. Increasing automotive sales in this region is will fuel the market.
Europe acrylonitrile butadiene styrene market, dominated by Germany, France, UK and Russia is the major hub for automobile industry with availability of advanced innovations and improved performance of automobiles. High product usage in car interior as well as exterior is likely to be beneficial for the market growth.
Asia Pacific accounted for around 68% of the overall industry share in 2016 owing to increase in disposable income and middle-class population. Presence of major manufacturing companies and growth in automotive industry are the main factors driving the industry demand.
The Acrylonitrile Butadiene Styrene (ABS) market report offers detailed competitive landscape of the global market. It includes companies, industry statistics, market share analysis and product portfolio of the major industry participants. The report provides detailed segmentation of the Acrylonitrile Butadiene Styrene (ABS) market based on product, technology, end user and region.
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Global acrylonitrile butadiene styrene market share is consolidated with the presence of few international manufacturers. Some of the key players are Chi Mei corporation, LG Chemicals, Formosa Plastic Company, Kumho Petrochemical, Dow Chemical Company, SABIC, Asahi Kasei and Styron.
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