The global acrylonitrile butadiene styrene market revenue is expected to expand at a lucrative CAGR over the forecast period. Rising demand for acrylonitrile butadiene styrene in end-use industries such as automotive, building & construction, and electronics & electrical owing to its properties such as high strength and lightweight is expected to be a major factor driving revenue growth of the market.
The global acrylonitrile butadiene styrene market report has been segmented on the basis of application and region.
On the basis of application, the global target market has been segmented into automotive, building & construction, consumer goods, electrical and electronics, and others (kitchen appliances, toys, and sports equipment). The building & construction segment is expected to witness higher growth rate over the forecast period. Acrylonitrile butadiene styrene is used in the construction industry in pipes and fittings. Growing construction industry across the globe is expected to drive revenue growth of the segment over the forecast period.
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On the basis of region, the global acrylonitrile butadiene styrene market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America market is expected to grow at a steady rate over the forecast period. Growing building & construction, automotive, and electrical & electronics industries in the region are expected to support revenue growth of North America acrylonitrile butadiene styrene market. Growing production of automobiles coupled with the presence of a large number of automotive manufacturers is expected to support revenue growth of acrylonitrile butadiene styrene market in the region.
Key players operating in the global acrylonitrile butadiene styrene market include LG Chem Ltd., Chi Mei Corporation, Asahi Kasei Corporation, Trinseo LLC, Kumho Petrochemical Co., Ltd., INEOS Styrolution Group GmbH, Saudi Basic Industries Corporation, E. I. du Pont de Nemours and Company, Formosa Chemicals & Fibre Corp., and BASF SE.