Acrylonitrile Butadiene Styrene (ABS) Market Size, Share, Growth Analysis, By Application (Automotive, Electrical & Electronics), By Process, By End User Industry, By Region - Industry Forecast 2024-2031

Acrylonitrile Butadiene Styrene (ABS) Market size was valued at USD 20.54 billion in 2022 and is poised to grow from USD 21.48 billion in 2023 to USD 30.79 billion by 2031, growing at a CAGR of 4.6% during the forecast period (2024-2031). 

Over the years, the automotive industry has undergone substantial transformation, and there has been a growing trend toward lighter, more fuel-efficient cars. In an automobile, a weight reduction of 10.0% is thought to save 5.0 to 7.0% on fuel. Additionally, the lighter weight aids in reducing CO2 emissions over the course of the vehicle's life. Numerous vehicle parts, such as the bumper, seats, dashboard, interior trim, headliners, centre consoles, and lighting, are made using ABS. 12.5% of all automotive plastics utilised in a passenger automobile are made up of ABS. Therefore, during the course of the forecast period, the market expansion is likely to be fueled by the expanding automotive industry.

It is anticipated that the adoption of ABS in automobiles will expand as more people become aware of the fundamental connection between mass and fuel efficiency. Over the projection period, industry growth is likely to be boosted by the flourishing automotive industries in developing nations like China, India, and Brazil. Due to its excellent mechanical strength and light weight, acrylonitrile butadiene styrene is used for vacuum construction as well as pipes and fittings. ABS is utilised to make waste collection products because it has higher durability and corrosion resistance than PVC. The construction industry's demand for acrylonitrile butadiene styrene is expected to increase as a result of these beneficial qualities. Over the forecast period, a rise in the use of styrene-butadiene rubber (SBR) is likely to impede market expansion. The high abrasion resistance that SBR offers, which is used in tyre manufacturing in the automotive industry, is what is driving up demand in a variety of end-use industries.

US Acrylonitrile Butadiene Styrene (ABS) Market is poised to grow at a sustainable CAGR for the next forecast year.