The global market for ABS is expected to reach
USD 30.35 billion by 2020, according to a new study by Grand View Research,
Inc. ABS is one of the most preferred engineering plastics for automotive and
appliances and is expected to witness growth over the forecast period owing to
increased demand from these applications. There is increased focus on weight
reduction in automobiles in order to have better fuel economy, which is
expected to result in substitution of metals with plastics such as ABS. In
addition, the augmented demand for consumer goods in emerging economies is
expected boost the demand for engineering thermoplastics such as ABS.
Appliances were the largest application segment
accounting for nearly 2,500 kilo tons of overall ABS demand in 2013. The
increasing demand for appliances in emerging economies of Brazil and China is
expected to be a key factor having a positive impact on the market over the
forecast period. ABS is also extensively used in electronics and electrical
applications owing to its favorable physical and chemical properties and
accounted for over 2,000 kilo tons of ABS demand in 2013.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/acrylonitrile-butadiene-styrene-market
Further
key findings from the study suggest:
- China was the largest regional market for ABS with revenue exceeding USD 10.6 billion in 2013. The presence of large manufacturing companies for automotives and appliances is a key reason for the high share. In addition, the region is also expected to witness fastest growth at an estimated CAGR of 7.5% from 2014 to 2020.
- Rest of Asia also had a significant share of the market in 2013 owing to industrial and economic development of countries such as India and South Korea. The region is expected to witness demand growth at an estimated CAGR of 5% from 2014 to 2020.
- Automotive applications are expected to witness fastest growth, at an estimated CAGR of 7.3% from 2014 to 2020. Increasing automotive sales in countries such as India, China, Japan, Germany and the U.S. coupled with increasing need for weight reduction is expected to drive ABS demand for this application.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
For the purpose of this study, Grand
View Research has segmented the global ABS market on the basis of application,
product and region:
ABS
Applications Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Appliances
• Electronic and Electricals
• Automotive
• Consumer Goods
• Construction
• Others (PGA)
ABS
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• China
• Rest of Asia
• RoW
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry
James
Corporate
Sales Specialist, U.S.A.
Grand
View Research, Inc.
United
States
Phone: 1-415-349-0058
Toll
Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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