Global Acrylonitrile Butadiene Styrene (ABS) Market 2019-2023 | Recycling of ABS Plastics to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 8, 2019--
The global acrylonitrile butadiene styrene market is expected to post a CAGR of almost 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global acrylonitrile butadiene styrene (ABS) market 2019-2023. (Graphic: Business Wire)
The automotive industry is currently the largest end-user of acrylonitrile butadiene styrene. It is used for the manufacture of various automobile components that include instrument panels, pillar trim, dashboard components, door liners and handles, seatbacks, and seatbelt components. With the increasing production of vehicles across the globe, the demand for acrylonitrile butadiene styrene will increase significantly during the forecast period.
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As per Technavio, the recycling of ABS plastics will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Acrylonitrile Butadiene Styrene Market: Recycling of ABS Plastics
Major end-users are opting to use recycled ABS due to the high cost of virgin ABS. The use of recycled ABS is helping end-users reduce the overall cost of production. The recycled ABS can be used in various applications such as automotive, construction, electrical and electronics, 3D printing and others. In addition, the presence of stringent regulations that promote the use of recycled plastics will further boost the growth of the market during the forecast period.
“Technological innovations and product innovations are some other major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Acrylonitrile Butadiene Styrene Market: Segmentation Analysis
This market report segments the global acrylonitrile butadiene styrene market by Application (Appliances, Electrical and electronics, Automotive, Construction, and Others) and Geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by Europe, North America, MEA, and South America respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the growth of various sectors such as automotive, construction, appliances, and electrical and electronics in the region.
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Some of the key topics covered in the report include:
Five Forces Analysis
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