Summary
Global Acrylonitrile-Butadiene-Styrene ( ABS ) Resin Market-Segmented by Type , Application , and Geography-Trends and Forecasts ( 2017-2022 )
Description
The acrylonitrile-butadiene-styrene ( ABS ) resin market is valued at USD 21.77 billion in 2015 and is expected to grow at CAGR of 4.9 % during the forecast period .
Asia Pacific region accounts for the largest market share . It is expected to be the fastest growing one , witnessing a CAGR of XX %, during the forecast period , on account of the growing middle class population in the region . Asia-pacific market is dominated by the China , which accounts for over 75 % of the Asia Pacifics market share by volume . North America and Europe markets are expected to grow at a considerable slower rate , due to the stagnant growth in the end-user industries .
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The appliances and electronics & electrical applications , have the largest share in the market collectively accounting for about 65 % of the global share , by volume . This is followed by the automobile sector . The automobile segment is expected to be the fastest growing segment during the forecast period , driven by the growing automobile sector . The construction sector is expected to witness a stable growth rate .
One of the major drivers for this market is the growth in the end-user industries such as automotive industry . The growing middle class population is increasing the demand for the appliances and electricals & electronics products , which is further driving the ABS resins market .
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The major challenge faced by this market is the development of sustainable products which can replace ABS resins applications in any areas . The production of ABS resins results in emission of solid waste & waste gases and it is also harmful to human beings ; hence the stringent environmental regulations are being made to avoid these , which is a major challenge to this market .
The acrylonitrile-butadiene-styrene ( ABS ) resin market report has been segmented by geography as - North America , Europe , the Asia-Pacific ( APAC ), South America and Middle-East & Africa ( MEA ); wherein the market share of each region is analyzed and estimates are provided for the forecast period . The market share analysis of end-user industries has been segmented in this report as per : automobile , construction , appliances , electricals and electronics , and others . A grade-wise segmentation of ABS market is also discussed in detail in addition to a comprehensive overview of the market .
Some of the major players in the market are :
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