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Global ABS Alloys Market to Grow at a CAGR of 6.30% During 2022-2027, Aided by the Robust Growth of the Automotive Sector

According to a new report by EMR titled, ‘Global ABS Alloys Market Report and Forecast 2022-2027’, the global market for ABS Alloys is expected to grow at a CAGR of 6.30% in the forecast period of 2022-2027, propelled by the increasing usage of ABS alloys in the automotive sector.

The Asia Pacific ABS alloys industry is witnessing significant growth owing to the rising demand for the thermoplastic in the region. This can be attributed to the rapid industrialisation in countries such as India, China, and Indonesia, among others. With the increasing production and demand for automobiles, the demand for ABS alloys is considerably surging, hence driving the market growth in the region. Moreover, the increasing investments in the automotive sector in the region are significantly contributing to the growth of the industry. As South Korea, China, and India are some of the leading manufacturers of electronic products, the demand for ABS alloys is surging and fuelling the market growth, which is significantly contributing to the growth of the overall market.

LG Chem (KRX: 051910), one of the leading companies in the market, announced in October 2021 that it had planned to construct a new acrylonitrile butadiene styrene (ABS) production facility in Ohio, the United States. The company is expected to invest about 60 billion won to enhance its production facility up to 30,000 tonnes. The plant is projected to manufacture customised ABS products to meet the growing demand from consumers in the United States and Canada. The company is further expected to construct an ABS polymerisation plant in North America in order to respond to consumers’ growing requirements in the region. The plant is anticipated to operate by 2023. The measure is estimated to enhance the availability of domestically-produced ABS alloys to increase their use in various industries. Such developments are driving the growth of the market for ABS alloys.

Market Analysis by Product Type, Application, and Region:

  • The market, on the basis of product type, can be divided into polycarbonate ABS alloys (PC ABS Alloys) and polyethylene terephthalate ABS alloys (PET ABS alloys), among others.
  • Based on application, the industry can be divided into automotive, electrical and electronics, and architectural, among others.
  • The regional markets for ABS alloys include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The increasing use of ABS alloys in the automotive sector owing to their computability, impact-resistant properties, and aesthetic appearance, among others, is driving the market growth.
  • The market is being aided by the increasing manufacturing of fuel-efficient vehicles, which, in turn, is surging the use of ABS alloys due to their lightweight properties.
  • The growing demand for consumer electronics is leading to a surge in the use of polycarbonate ABS alloys, which is augmenting the market growth.
  • The rising use of polycarbonate ABS alloys in electric components owing to their reliability, flame retardancy, and enhanced processability, among others, is fuelling the growth of the industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for ABS alloys for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the product types, applications, and major regions of ABS alloys.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global ABS alloys market are LOTTE Chemical CORPORATION, KUMHO PETROCHEMICAL, LG Chem, RTP Company, and Sumitomo Bakelite Co., Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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