ALBANY, N.Y.—According to a new market report published by Transparency Market Research: "Acrylonitrile Butadiene Styrene Market–2012-18," global acrylonitrile butadiene styrene demand was worth $16.2 billion in 2011 and is expected to reach $26.1 billion in 2018, growing at a compound annual growth rate of 7 percent from 2012-18.
According to Transparency Market Research, the major factor driving ABS consumption is increasing demand from end user applications such as automobiles, appliances and consumer goods.
China is expected to remain the largest regional market for ABS and is estimated to account for roughly 61 percent of the global demand by 2018.
The research firm sees substitution by other thermoplastics, particularly polypropylene and polystyrene, as a principal threat to ABS, demand for which is dominated by appliance applications, which accounted for over 32 percent of overall volumes in 2011. However, automotive and consumer goods are fast-growing applications of ABS and are expected to gain a substantial market share over the next six years, said TMS.
The rest of Asia region, including India, Japan, Taiwan and Korea, is the second largest consumer of ABS after China. The region accounted for more than 15 percent of the global demand in 2011 and is expected to gain market share over the forecast period.
Key participants cited in the ABS market include LG Chem, Chi Mei Corp., Styrolution, Formosa Plastic Co. and SABIC among others. The report profiles these companies and analyses their detailed market shares in detail.