Global Acrylonitrile Butadiene Styrene (ABS) Resins Market Size, Share, Opportunities, And Trends By Type (Opaque, Transparent, Colored), By Process Type (Injection Blow Molding, Extrusion Blow Molding, Injection Stretch Blow Molding), By End-User Industry (Automotive and Transportation, Construction, Electronics, Consumer Goods and Appliances, Others), And By Geography - Forecasts From 2024 To 2029

The global acrylonitrile butadiene styrene (ABS) resins market is projected to register a compound annual growth rate (CAGR) of 5.2% between 2024 and 2029.

Acrylonitrile butadiene styrene (ABS) resin is one of the most used high-volume engineering plastics that possess qualities such as strength and scratch resistance and also has the potential to give it a very smooth feel. ABS is made up of three monomers: acrylonitrile, which gives the material heat and chemical resistance; butadiene which gives the product rubber-like flexibility and impact strength and styrene for rigidity, easy molding ability, and low cost. It has been found that the ABS resins are made up of a base of not less than 50% styrene and two other components that can include acrylonitrile and butadiene which can also be in varying proportions.

Acrylonitrile finds application in apparel and accessories, appliances, automotive parts, carpets, and leather cloth textiles. Companies have been asked to shift their raw material resources to sustainable sources. In an endeavour to fulfil this demand, Sumitomo Chemical has recently sought ISCC PLUS certification on products from biomass and recycled sources. Acrylonitrile is the initial product of the company that has been certified under the Industrial Emissions Directive: Integrated Pollution Prevention and Control ISCC PLUS.

Traditionally, ABS resin manufacturers would provide clients with a variety of grades and color options. Currently, with the introduction of extremely big facilities and sizeable manufacturing lines in the sector, the majority of the ABS producers focus production on any of the following: the standard uncolored ABS which is called the ABS regular, or the pre-colored ABS which falls under the ABS Specialty class. It comes in the form of ABS plastic that is injected and molded to produce numerous and diverse elements.

Further, the mentioned drivers and opportunities are upsurging the market growth:

• The rise of the electrical and electronics sector has a significant influence on the acrylonitrile butadiene styrene (ABS) resins market. This is because these resins have higher impact resistance (IR) and dimensional stability and are easier to mold than other materials suitable for numerous uses in this sector. According to the World Electronics Update 2020, the electronics sector crossed US$2.9 trillion as reported by PIB. In the same year, electronics alone had a global market worth that was equal to India’s gross domestic product, US$2.9 trillion.

Furthermore, with rising global needs for consumer electronics, automobile electronics, and electricity distribution networks, the ABS resin market is anticipated to grow. The steady advancement and improvement in electrical and electronics industries put pressure on a company like Dupont to seek to continuously produce products such as ABS resins further underlining the material’s importance in this field.

• Product innovation has a major impact on the acrylonitrile butadiene styrene (ABS) resins market's growth dynamics. For instance, in June 2022, INEOS Styrolution (parent INEOS), the styrene company for innovative materials, introduced the first Terluran ABS solutions with bio-attribution. The company now has the new grades to follow the mechanically recycled Terluran ECO materials that were launched earlier.

Furthermore, ABS resin is produced through formulations and processing methods, and these cause improvements in the qualities of the end product to be used by the automotive, electronics, construction, and consumer goods industries. CYCOLAC Resin, for example, is an engineering material with versatile applications that offers improvement in appearance, processability, impact strength, dimensional stability, etc. It is made from acrylonitrile-butadiene-styrene (ABS). Another such example is Trinseo's MAGNUM ABS Resins which provides considerable benefits for injection molding, profile, and sheet extrusion applications in diverse end markets. The material is made using its patented continuous mass polymerization method and, when compared to emulsion ABS, results in a more consistent, stable, and dependable product.

Companies that introduce such innovations get a competitive advantage by providing unique properties like as increased strength, flame retardancy, or recyclability, therefore distinguishing them in the market and receiving significant market share.

GLOBAL ACRYLONITRILE BUTADIENE STYRENE (ABS) RESINS MARKET DRIVERS:

• Colored acrylonitrile butadiene styrene resins are gaining popularity

Colored Acrylonitrile Butadiene Styrene resins are gaining popularity because of their aesthetic variety and customizability. They simplify manufacturing operations by removing the need for additional colouring procedures, which saves time and money. TMG’s Optilac solutions give elegant optical elements performance and sustainability including OEM-approved ASA and ABS resins which contain post-industrial recycled (PIR) material. The company also sources prime ABS to meet increasing niche customer requirements for coloured products.

Furthermore, the availability of colour settings also provides the business with the unique option to match the product with branding requirements and or consumer choice and have a competitive market positioning. Colored ABS polymers, with their inherent properties, sustain performance while providing brilliant colours. This trend reflects customer desires for visually appealing and personalized products across sectors. As demand grows, colored ABS resins are poised to drive further innovation and market expansion.

• By process type, the Injection blow molding segment is anticipated to grow.

Injection Blow Moulding (IBM) is a frequent procedure used for Acrylonitrile Butadiene Styrene (ABS) resins, especially in the manufacturing of small to medium-sized hollow products including bottles, containers, and medical parts. In the injection blow molding method, the heated material, still on the core pin, is sent to the blow molding station, where it is blown into a bottle and allowed to cool. The bottle is then indexed to the following station and expelled. Injection blow molding provides finer detail in the neck and finish (threaded) areas than extrusion blow molding.

ABS polymers are ideal for injection blow molding because of their high flow characteristics, dimensional stability, and impact resistance. These qualities enable the creation of high-quality, precise pieces with fine features and uniform wall thicknesses. The Injection Blow Moulding is also applied in the creation of hollow goods made of ABS material, with slight dimensional accuracy, and a smooth surface finish. For instance, Lerner Molded Plastics, Jaco Products, and Proto Labs, Inc. are some of the plastic moulding companies that use ABS resin to meet their customer needs for tiny, complicated, multi-cavity, and big components, through injection molding.

• The growing application of acrylonitrile butadiene styrene (ABS) resins in the automotive industry.

ABS resins are utilized in the automobile industry in interior trim and dash panels, exterior, and even portions of the engine compartment. Further, with the growth in the automobile industry, the market is anticipated to be positively impacted. As per the Press Information Bureau (PIB), two-wheelers moto, and passenger automobiles took the major market shares for the FY 2021-22. The market share was 77% of two-wheelers moto and 18% of passenger automobiles. A significantly large percentage of the passenger automobiles division can be classified as small and medium passenger automobiles. Similarly, the export of autos increased to 5,617,246 in the year 2021-22 from 4,134,047 in the year 2020-21, it has increased nearly by 35.9%.

The acrylonitrile butadiene styrene (ABS) resins can also be processed to meet the particular needs of the auto industry for flame retardancy and chemical resistance. Automotive manufacturers are constantly in search of lightweight materials, that fulfill the safety and aesthetic requirements, including the use of ABS resins, and hence the market is expected to rise.

• The Asia Pacific region is anticipated to dominate the acrylonitrile butadiene styrene (ABS) resins market during the forecast period.

The Asia Pacific region is expected to retain its dominance in the overall market of ABS Resins during the forecast period. This dominance may be attributed to various factors such as an increase in industrialization, urbanization, and significant growth in the consumer, automobile, and building sectors in Asian countries including China, India, Japan, and Korea. In the year 2023, India's electronics sector was estimated at US$155 billion, with local manufacturers accounting for 65% as stated by Invest India. Nevertheless, as per Shanghai Municipal People’s Government, the retail sales of China's consumer electronics sector are anticipated to expand by 5% from US$305 billion in 2023 to US$ 320 billion in 2024.

Apart from this, to enhance the production of lithium-ion cells and higher energy density batteries in the country, the Government of India 2021 sanctioned the Production Linked Incentive (PLI) scheme named National Program on Advanced Chemistry Cells (ACC) Battery Storage. The PSUs have conceived a capital expansion budget for the financial year 2022 of Rs 18,100 crores. The plan involves establishing the required total ACC battery production capacity of 50GWh. This might further lead to a higher usage of ABS resins used for battery housings and casings because of their mechanical properties and flame-retardant properties. The growth of Lithium-ion batteries is seen to have an impact on the ABS market subtly which can be identified and observed in the growing battery technology arena.

In addition, the region comprises favorable government policies and infrastructure development to support large-scale manufacturing, which is also anticipated to place the region in a dominant position in the global ABS market.

Global Acrylonitrile butadiene styrene (ABS) resins Market Key Developments:

• In November 2023, INEOS Styrolution, the global leader in styrenics, announced the formal launch of a new world-scale ABS plant in Ningbo, China, in collaboration with joint venture partner SINOPEC.
• In February 2023, Toray Industries, Inc. and Idemitsu Kosan Co., Ltd. announced that the companies have reached an agreement to establish a supply chain for plastics derived from biomass naphtha.
• In February 2023, Sumitomo Chemical received its first ISCC PLUS accreditation for acrylonitrile manufactured at its Ehime Works (Niihama, Ehime, Japan) from the International Sustainability and Carbon Accreditation (ISCC), an international certification system for sustainable goods.

The global acrylonitrile butadiene styrene (ABS) resins market is segmented and analyzed as follows:

• By Type
  • Opaque
  • Transparent
  • Colored
• By Process Type
  • Injection Blow Molding
  • Extrusion Blow Molding
  • Injection Stretch Blow Molding
• By End-User Industry
  • Automotive and Transportation
  • Construction
  • Electronics
  • Consumer Goods and Appliances
  • Others
• By Geography
  • North America
  • South America
  • Europe
  • Middle East and Africa
  • Asia-Pacific

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.1.1. Increasing Demand in the Automotive Industry

4.1.2. Growth in the Electronics and Electrical Industry

4.2. Market Restraints

4.2.1. Fluctuating Raw Material Prices

4.2.2. Availability of Substitutes

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. GLOBAL ACRYLONITRILE BUTADIENE STYRENE (ABS) RESINS MARKET BY TYPE

5.1. Introduction

5.2. Opaque

5.3. Transparent

5.4. Colored

6. GLOBAL ACRYLONITRILE BUTADIENE STYRENE (ABS) RESINS MARKET BY PROCESS TYPE

6.1. Introduction

6.2. Injection Blow Molding

6.3. Extrusion Blow Molding

6.4. Injection Stretch Blow Molding

7. GLOBAL ACRYLONITRILE BUTADIENE STYRENE (ABS) RESINS MARKET BY END-USER INDUSTRY

7.1. Introduction

7.2. Automotive and Transportation

7.3. Construction

7.4. Electronics

7.5. Consumer Goods and Appliances

7.6. Others

8. GLOBAL ACRYLONITRILE BUTADIENE STYRENE (ABS) RESINS MARKET BY GEOGRAPHY

8.1. Global Overview

8.2. North America

8.2.1. United States

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Rest of South America

8.4. Europe

8.4.1. United Kingdom

8.4.2. Germany

8.4.3. France

8.4.4. Italy

8.4.5. Spain

8.4.6. Rest of Europe

8.5. Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. United Arab Emirates

8.5.3. Rest of Middle East and Africa

8.6. Asia-Pacific

8.6.1. China

8.6.2. India

8.6.3. Japan

8.6.4. South Korea

8.6.5. Taiwan

8.6.6. Thailand

8.6.7. Indonesia

8.6.8. Rest of Asia-Pacific

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES 

10.1. CHIMEI

10.2. LG Chem

10.3. Trinseo

10.4. Formosa Chemicals & Fibre Corp.

10.5. Ineos

10.6. Toray

10.7. Kumho Petrochemical

10.8. SABIC

10.9. ELIX Polymers

10.10. Tianjin Dagu Chemical Co., Ltd.

10.11. Techno-UMG Co., Ltd.

10.12. PetroChina

10.13. RTP Company

CHIMEI

LG Chem

Trinseo

Formosa Chemicals & Fibre Corp.

Ineos

Toray

Kumho Petrochemical

SABIC

ELIX Polymers

Tianjin Dagu Chemical Co., Ltd.

Techno-UMG Co., Ltd.

PetroChina

RTP Company