What is Global ABS Resins Market?
The Global ABS Resins Market is a vast and dynamic sector that deals with the production, distribution, and consumption of Acrylonitrile Butadiene Styrene (ABS) resins. ABS is a common thermoplastic polymer typically used for injection molding applications. This type of resin is incredibly durable, flexible, and lightweight, making it a popular choice in various industries. The global market for ABS resins is continually growing due to its increasing demand in different sectors such as automotive, household appliances, consumer goods, electronics, and others. However, the market's growth is not just limited to these sectors. The versatility of ABS resins has opened up opportunities for its use in new and innovative applications, further driving the market's expansion.
General Purpose ABS, Specialty ABS in the Global ABS Resins Market:
The Global ABS Resins Market is divided into two main categories: General Purpose ABS and Specialty ABS. General Purpose ABS is the most common type of ABS resin used in various applications due to its excellent balance of mechanical properties. On the other hand, Specialty ABS is a type of ABS resin that has been modified or enhanced to meet specific requirements or applications. These modifications can include improved heat resistance, increased impact strength, or added flame retardancy. The demand for both types of ABS resins is continually growing, with each having its unique set of advantages and applications.
Automotive, Household Appliances, Consumer Goods, Electronics, Others in the Global ABS Resins Market:
The use of ABS resins in the automotive industry is widespread due to its excellent mechanical properties and ease of processing. It is commonly used in the production of interior and exterior components such as dashboards, wheel covers, and body parts. In the household appliances sector, ABS resins are used in the manufacturing of various appliances such as refrigerators, washing machines, and air conditioners due to their durability and aesthetic appeal. In the consumer goods sector, ABS resins are used in the production of a wide range of products including toys, luggage, and sports equipment. In the electronics sector, ABS resins are used in the manufacturing of electronic housings and components due to their excellent electrical insulation properties. Other applications of ABS resins include construction, medical devices, and packaging.
Global ABS Resins Market Outlook:
According to a recent survey, the global ABS Resins market is expected to grow significantly in the coming years. The market value is projected to increase from US$ 16370 million in 2022 to US$ 21710 million in 2029, representing a Compound Annual Growth Rate (CAGR) of 4.1% during the period of 2023 to 2029. This growth can be attributed to the increasing demand for ABS resins in various sectors. LG Chem, a leading player in the industry, accounts for over 10% of the market. The household appliances sector is the largest consumer of ABS resins, holding a market share of 30%.
| Report Metric | Details |
| Report Name | ABS Resins Market |
| Accounted market size in 2022 | US$ 16370 million |
| Forecasted market size in 2029 | US$ 21710 million |
| CAGR | 4.1% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | LG Chem, Formosa, CHIMEI, CNPC, Lotte Chemical, INEOS Styrolution, Toray, SABIC, JSR, Dagu Chemical, KKPC, Huajin Chemical, Gaoqiao, Grand Pacific Petrochemical, Trinseo, Kumho Sunny |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
