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New York, United States – May 18, 2020 /MarketersMedia/ —
The global Acrylonitrile Butadiene Styrene (ABS) Resin Market is forecast to reach USD 50.63 Billion by 2027, according to a new report by Reports and Data. Acrylonitrile-butadiene-styrene is the largest-volume engineering thermoplastic resin, which provides an ideal balance of chemical, impact, and heat, resistance with superior processing versatility. The large-volume applications for the market product include electronic/electrical, appliance parts and transportation end uses. These resins are commonly used in polymer blends for various applications, to attain the best of all properties from the combined product.
Superior properties of styrene acrylonitrile than other plastic material is causative of the growth of the market. It exhibits similar levels of heat, chemical, and impact resistance with polymethyl methacrylate (PMMA). Moreover, dimensional stability, surface gloss, and electrical characteristics of styrene acrylonitrile are better than general-purpose polystyrene (GPPS), and it offers improved capability of being processed than acrylic resins.
Asia Pacific dominated the market for ABS resin. China especially is driving the market demand. The migration of the manufacturing units of appliances, electronic/electrical, and other markets to the country over the years has resulted in high demand from the country. The appliance market in China is expected to grow owing to the growth in the middle-class population since this emerging group purchases more durable goods that use ABS resins.
This report covers the recent COVID-19 incidence and its impact on Acrylonitrile Butadiene Styrene (ABS) Resin market. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
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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
• Composite Grades
Applications Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
• Musical Instrument
• Automotive Umper Bars
• Medical Devices
End Users Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
• Consumer Goods
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Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia)
Further key findings from the report suggest
• ABS resins finds application in the plastics used in office and industry owing to their dimensional stability, strength, and high resistance to acids and alkalis. Moreover, essential applications comprise calculators, lamps, writing and drawing equipment, printers, and cylindrical impellers for air-conditioners, among others.
• The demand for Acrylonitrile butadiene styrene in the automotive sector is expected to drive the market in the upcoming years. The growth in the automotive industry all over the world is resulting in the increased demand for raw materials implemented in the making of automotive components and parts. The widespread use of the resins in producing automotive exterior, including mirror housing and radiator grills, among others, and interior, including overhead compartments, among others, is fueling the market demand.
• One of the most common use of flame retardant ABS is in the overhead luggage storage compartment. These compartments require durable materials as they are subjected to a lot of strain in daily usage. These compartments also need to be light in weight, as their presence does not add to the operation or aerodynamics of the aircraft. Plastics like Acrylonitrile Butadiene Styrene are excellent materials for these bins.
To get the full report on the Acrylonitrile Butadiene Styrene (ABS) Resin market, with global and region-wise coverage, visit this link now@ https://www.reportsanddata.com/report-detail/abs-acrylonitrile-butadiene-styrene-resin-market
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