Market Size of Acrylonitrile Butadiene Styrene (ABS) Resin Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
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*Disclaimer: Major Players sorted in no particular order |
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Acrylonitrile Butadiene Styrene (ABS) Resin Market Analysis
The Acrylonitrile Butadiene Styrene (ABS) Resin market is expected to reach 8527.86 kilotons by the end of this year and is expected to register a CAGR of over 4.5% during the forecast period.
The ABS resin market has been significantly impacted due to COVID-19. The industry has faced several challenges such as labor shortages, transportation, and raw material shortages due to the economic slowdown. However, after the relaxation of the lockdown process in most countries, demand for ABS resins is currently surging as global manufacturing and export-import activities are picking up at a rapid rate.
- Major factors driving the market studied are the growing focus on lightweight automobiles and the increasing usage in electronics and consumer goods.
- However, the availability of substitutes for ABS is a key factor anticipated to restrain the growth of the target industry over the forecast period.
- Nevertheless, the growing usage of PC-ABS resin in industrial applications is likely to create lucrative growth opportunities for the global market soon.
- Asia-Pacific dominated the market across the world, with the largest consumption from countries like China and India.
