Acrylonitrile Butadiene Styrene (ABS) Market Size, Share, Growth Analysis, By Application(Appliances, Automotive, Consumer Goods, Construction), By Region - Industry Forecast 2024-2031

Due to the region's increasing urbanization and rising population, Asia is predicted to experience an increase in construction investment during the projection period. Due to rising disposable income and increased government spending on significant infrastructure projects, the construction market in China and India is anticipated to experience significant development. Over the foreseeable period, these elements are anticipated to fuel ABS demand. With a revenue share of 56.4% in 2021, China led the world market. This trend is expected to continue throughout the projected period because of rising construction activity there. From 2021 to 2028, the Chinese construction industry had a double-digit expansion, which is projected to fuel demand for the good in the years to come.

When it comes to the volume of produced units, the Chinese auto industry is the biggest in the world. Even throughout the recession, production rose in the nation. The country's rising per capita income has led to an increase in domestic demand for automobiles. Over the course of the projection period, rising auto manufacturing is likely to have a direct impact on ABS demand. A 10.7% revenue share was attributed to North America in 2021 as a result of the continent's rising automobile manufacturing. Due to rising auto manufacturing and the existence of multiple prominent market players, Mexico's automotive sector is predicted to experience significant expansion. Over the upcoming years, the region's automotive industry is projected to experience a major increase in vehicle production and export. To produce various automotive models in huge quantities, businesses like Nissan, Honda, and Mazda constructed their manufacturing plants in the country's central area.