Acrylonitrile Butadiene Styrene (ABS) Market Size, Share, Growth Analysis, By Application (Automotive, Electrical & Electronics), By Process, By End User Industry, By Region - Industry Forecast 2024-2031

Global Acrylonitrile Butadiene Styrene (ABS) Market size was valued at USD 20.54 billion in 2022 and is poised to grow from USD 21.48 billion in 2023 to USD 30.79 billion by 2031, growing at a CAGR of 4.6% during the forecast period (2024-2031).

The automotive sector is experiencing significant transformation, with a clear trend towards lighter, more fuel-efficient vehicles. A 10% reduction in vehicle weight can lead to fuel savings of 5-7%, while also contributing to lower CO2 emissions. Acrylonitrile butadiene styrene (ABS) plays a pivotal role in this evolution, constituting 12.5% of automotive plastics in passenger cars, found in numerous components such as bumpers and interiors. As awareness grows about the link between weight and fuel efficiency, demand for ABS is expected to surge, particularly in emerging markets like China, India, and Brazil. However, market growth may face challenges due to increasing reliance on high-abrasion resistance materials like styrene-butadiene rubber (SBR) in automotive tire manufacturing.

Top-down and bottom-up approaches were used to estimate and validate the size of the Acrylonitrile Butadiene Styrene (Abs) market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Acrylonitrile Butadiene Styrene (Abs) Market Segmental Analysis

Global Acrylonitrile Butadiene Styrene (ABS) Market is segmented by application, process, end user industry and region. Based on application, the market is segmented into automotive (interior components, exterior components), electrical & electronics (housings, connectors, enclosures), consumer goods (toys, luggage, sports equipment), building & construction (pipes & fittings, panels, sheets), appliances (refrigerators, washing machines, air conditioners) and others (medical devices, industrial equipment). Based on process, the market is segmented into injection molding, extrusion, blow molding and others. Based on end user industry, the market is segmented into automotive, electrical & electronics, consumer goods, building & construction, appliances and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Acrylonitrile Butadiene Styrene (Abs) Market

The Acrylonitrile Butadiene Styrene (ABS) market is experiencing growth driven by its lightweight nature and remarkable strength, which make it an ideal choice for applications in consumer products, construction, and automotive accessories. This trend is further fueled by the increasing awareness of environmental issues, particularly concerning rising CO2 emissions, as industries seek to adopt lighter automotive materials. The International Energy Agency (IEA) predicts a continuous rise in ozone-depleting substance emissions, projected to reach 3.1 metric gigatons by 2021. Consequently, the demand for lightweight components, including ABS, is anticipated to escalate in the automotive sector over the coming years.

Restraints in the Acrylonitrile Butadiene Styrene (Abs) Market

The Acrylonitrile Butadiene Styrene (ABS) market is expected to face challenges due to the unpredictable demand for plastics from the automotive sector, a situation exacerbated by the COVID-19 pandemic. The global health crisis led to substantial disruptions across various industries, resulting in a moderate impact on the plastics sector. Consequently, this scenario is likely to hinder the growth of the ABS market. Specifically, polymer manufacturers catering to the automotive industry have encountered severe challenges, as several major automotive companies were compelled to suspend operations due to lockdowns and fluctuating consumer demands, further complicating the recovery trajectory for ABS.

Market Trends of the Acrylonitrile Butadiene Styrene (Abs) Market

The global Acrylonitrile Butadiene Styrene (ABS) market is witnessing a robust growth trajectory, driven by factors such as booming construction activities, urbanization, and industrialization across the globe. Rising living standards and increasing disposable incomes, particularly in emerging economies, are fueling demand for high-quality materials, leading consumers to favor ABS for its durability and versatility. This trend is further reinforced by a growing interest from manufacturers to innovate and cater to evolving consumer needs in residential and commercial applications. As these dynamics play out, the ABS market is poised for sustained expansion, reflecting broader economic development and consumer preferences for premium materials.