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ALBANY, New York,
February 28, 2013 /PRNewswire/ --
According to a new market report published by Transparency Market Research (
"Acrylonitrile Butadiene Styrene (ABS) Market - Applications (Appliances, Electronics, Automotive, Consumer Goods & Construction), Global Industry Analysis, Size, Share, Growth And Forecast, 2012 - 2018," the global ABS demand was worth
USD 16.2 billion in 2011 and is expected to reach
USD 26.1 billion in 2018, growing at a CAGR of 7% from 2012 to 2018. In terms of volumes, ABS demand is expected to be 9.7 million tons by 2018.
Browse the full report at http://www.transparencymarketresearch.com/acrylonitrile-butadiene-styrene.html
The major factor driving ABS consumption is the increasing demand from end user applications such as automobiles, appliances and consumer goods. ABS is one of the leading engineering plastics and is increasingly finding usage across a host of industries. There has been a shift in preference towards consumers demanding higher fuel economy in automobiles. Reduction in automobile weight is a primary facet in this regard and the increased use of plastic is inevitable. ABS is used in a variety of automotive applications like trims, panels and coatings among others which is expected to increase its demand over the next six years.
China is expected to remain the largest regional market for ABS and is estimated to account for roughly 61% of the global demand by 2018. Low labor and operating costs in
China, have forced a considerable number of multinational manufacturing companies to shift their manufacturing units to
China. The country is also the world's largest automobile manufacturing nation and consumes huge volumes of plastics, of which ABS is an essential part.
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