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

Acrylonitrile Butadiene Styrene (ABS) Market Driver

• Because of its lightweight and high strength, acrylonitrile butadiene styrene is increasingly being used in consumer goods, construction, and vehicle accessories, which will account for the market's favorable outlook in the years to come. Additionally, the concern about rising CO2 emissions is one of the main reasons for the increased interest in lightweight automotive materials. The International Energy Agency (IEA) projects that ozone-depleting substance outflows will reach 3.1 metric gigatons on a continuous basis in 2021. Over the course of the next several years, this factor is likely to increase demand for lightweight components in the automotive industry, including acrylonitrile butadiene styrene.

Acrylonitrile Butadiene Styrene (ABS) Market Restraint

• The growth of the Acrylonitrile Butadiene Styrene market is anticipated to be constrained by fluctuating demand for plastics from the automotive industry during COVID-19. The emergence of COVID-19 caused significant disruptions in a few industries, and the plastics industry is currently dealing with a mild pandemic effect. As a result, it is anticipated that this will have spillover effects on the growth of the acrylonitrile butadiene styrene market. The pandemic has had a significant negative impact on polymer companies that specifically serve the automotive industry since some large automakers worldwide have had to halt operations due to lockdowns and pleading demands.