Global acrylonitrile butadiene styrene market share is highly consolidated, with top four participants sharing more than 60% of the overall business space in 2015.

Sellbyville, DE -- (SBWire) -- 06/20/2019 --Europe acrylonitrile butadiene styrene market is set to record a CAGR of 6% over the coming seven years, driven by high product usage in air conditioners, car exteriors & interiors, fax machines, vacuum cleaners, kitchen appliances, and refrigerator door liners. Germany is expected to be the key regional growth driver.

U.S. acrylonitrile butadiene styrene market is anticipated to surpass a targeted revenue margin of USD 3 billion by 2024, owing to escalated product popularity across automotive and consumer goods sectors. Asia Pacific industry, which accounted for more than 68% of the global ABS industry share in 2015, is projected to observe a huge surge over the next few years. High product demand for household appliances and construction sectors will boost the profit. The construction sector in APAC, worth USD 1550 billion in 2015, is slated to grow at a rate of 5% over 2016-2024. India and China are likely to be major regional revenue contributors.

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Consumer goods, electrical & electronics, construction, automotive, and appliances are the key sectors across which Acrylonitrile Butadiene Styrene is widely used. acrylonitrile butadiene styrene market size in electrical & electronics sector is expected to grow at a CAGR of more than 3.5% over 2016-2024, driven by wide product use in televisions, computers, printers, computer accessories, and business machines as a result of its electrical insulating and corrosion & heat resisting properties.

Automotive applications are projected to register notable gains of 4% over the coming seven years. The ability of the product to reduce the vehicle weight and lower fuel emissions is expected to spur its demand. Strict legislations to reduce environmental pollution and enhance fuel efficiency in automobiles will further soar acrylonitrile butadiene styrene market revenue. For instance, stringent rules in Europe and North America have forced the manufacturers to reduce the vehicle weight up to 440 kg, resulting in lowered carbon emissions along with an increase in fuel efficiency.

Appliances sector, which accounted for 31% of the acrylonitrile butadiene styrene market revenue in 2015, is expected to grow considerably over the years to come. Rising end-user expenditure on household appliances along with the product's ability to retain the appliance structure at both high and low temperatures will favorably influence the growth. The household appliances sector is projected to hit USD 11.9 billion by 2020 and will support ABS industry expansion.

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acrylonitrile butadiene styrene market share in the construction sector is projected to experience a lucrative growth over the coming years, driven by high product utilization in fittings, plastic sheets, and pipes. High spending on the construction activities due to rise in the disposable income of the consumers along with government support for improving the infrastructure facility will further steer the income.

Global acrylonitrile butadiene styrene market share is highly consolidated, with top four participants sharing more than 60% of the overall business space in 2015. Chi Mei Corporation, Formosa Plastic Corporation, INEOS Styrolution, SABIC, LG Chemicals Limited, Kumho Petrochemical Company Limited, Asahi Kasei Corporation, Sinopec Limited, Styron, Elix Polymers, Entec Polymers LLC, Mitsui Chemicals, and Ravago Manufacturing Americas are few of the key players of ABS industry.

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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