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Acrylonitrile butadiene styrene (ABS) is a special category of thermoplastic polymers,which is generally found in an amorphous form. APS is manufactured by the polymerization reaction of acrylonitrile and styrene in the presence of Polybutadiene. It is a shiny plastic like compound having superior mechanical strength, high heat resistance and durability. Catering to its superior properties, ABS is extensively used in various industries including automobile, construction, electronics and consumer goods.
COVID-19 scenarioanalysis:
The outbreak of the COVID-19 pandemic has severely affected the global ABS market.
• Since the advent of the pandemic, most of the construction projects have come to a halt because of severe lack of workforce. This has resulted in a decrease in demand for ABS in different construction projects and thereby affecting the market.
• On the other hand, the global economic slowdown caused by the pandemic resulted in a decrease in demand for automobiles in the market. As a result, the application for ABS for manufacturing vehicles in the automobile manufacturing sector decreased to a great extent.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
One of the major factors responsible for the growth of the ABS market is its extensive use in the manufacturing of automobiles around the world. Because of its superior mechanical properties, ABS is extensively used in the manufacture of different internal parts of automobiles such as engine compartments. Moreover, products such as covers and linings used in the automobile sector are also produced from this compound. On the other hand, ABS is also utilized in the construction and electronics sector, owing to its high corrosion resistance and durability. Several major companies including Covestro AG are investing on increasing their production capacity as well as innovating new products to gain a competitive edge in the market. Such developments are expected to boost the global ABS market in the forecast period. However, the fluctuating prices of the raw materials might act as restraining factors for the market. Nonetheless, with the increase in disposable income among the consumers worldwide, the demand for automobiles is expected to rise resulting in high demand for ABS in the market.
Asia-Pacific region accounts for a significant share of the global ABS market because of its high demand in the construction and automotive sector in the region. The market in Europe and North America region is also expected to grow at a significant pace,due to high demand ofthe compound in the growing automotive industries in the developed nations.
Key benefits of the report:
Questions answered in the acrylonitrile butadiene styrene (ABS) market research report:
Key Market Segments
Key Market Players