$ 1.84 Bn
$ 2.07 Bn
$ 19. 09 Bn
Category Intelligence on ABS covers the following
The global demand is expected to grow at approx. 2.8 percent CAGR till 2023
The automobile market growing at approx. 5-6 percent, printed wire boards in the electronics sector and smart consumer appliances growing at approx. 7 percent are the ABS market growth drivers
The innovative fields of the auto electronic market growing at approx. 12–14 percent could be the potential platform for ABS applications
China is expected to remain as the key driver for the ABS market, in terms of both consumption and production
The top global suppliers in the ABS financing market are Chi Mei, LG Chem, Styrolution, CNPC, and Formosa.
ABS market outlook shows that the global capacity was 11.22 MMTin 2016, the global demand was 8.49 MMT (2016), and the global demand CAGR is 2.4 percent for 2017–2022.
ABS market size data shows that the key demand drivers are automobiles, appliances, and electrical/electronics.
The major challenges in the Asset Backed Securities market are substitution in 3D printing from PLA resins and an increasing demand for silicone elastomers as insulation materials.
The major opportunities will come up from the shift in manufacturing base to demand center (Asia).
The automobile and appliances markets are expected to drive the demand for ABS in NA and Europe, while in Asia, the electronics segment would be the key driver, followed by appliances and automobiles segment
The growth in the automobile, appliance, and electronic sectors is expected to drive the ABS market to approx. $23 billion by 2023
The growing disposable income of the middle-class population in Asia is expected to drive the ABS consumption in the appliances, electronics, and automobile industries
ABS capacity in North America remained at 0.94 MMT occupying around 8 percent of the global capacity share
Demand is expected to grow at 2.8 percent until 2023, supported by the expected growth in automobile and appliance markets
ABS is also a favored resin to be used in electrical vehicles in line with stringent environmental regulations especially in Europe
Automobile sector: 5 percent growth, driven by replacement of the painted heavy parts by light-weight ABS resins in dashboards, wheel casings, etc.
Home appliance market growth: Domestic, kitchen, and home comfort appliances at 6-7 percent and smart consumer appliances at approx. 7 percent
Electronic component market w.r.t. wiring boards, enclosures, etc., is expected to grow by approx. 8-9 percent
Capacity additions are expected to come up more in Asia (from Trinseo and CNOOC & LG Petrochemical), Versalis is expected to increase their capacity in Italy by 75,000 tonnes
Emerging Asian regions could be considered as favorable destinations of sourcing, due to the upcoming capacity additions and strong supply base. However, 2018 -2019 had led to lower demand for China-made electronics due to the ongoing US-China trade war
On a global scale, automotive, appliance, and electronic are the major demand drivers
Demand is expected to grow at 2.8 percent until 2023, from strong support from automobile, printed wire board, and smart consumer appliances
Fast-paced urbanization, rise in disposable income, the transition to a consumer, and service-oriented economy would contribute to the growth in these industries
Metal replacement in the automotive, and electrical and electronics industries are the drivers for engineered resins, such as ABS. The need for lightweight and high-performance material is driving ABS demand in these sectors
Emerging nations to drive demand: The demand for home appliances and electrical/electronic goods made of ABS is increasing in emerging nations, such as China and India, due to rising middle-class population
Shift in manufacturing base: With the rapid development of China's Information Communications Technology (ICT) sector, China has become the world's largest manufacturing center for electronic products, including televisions, computers, handsets and DVD players. This development is driving ABS demand in the electronic segment
Substitution in 3D printing
– ABS has been a preferred choice for 3D printing so far
– PLA has taken a significant market share from ABS in 3D printing, due to properties, such as lower melting point, aroma, aesthetics, renewability, and biodegradability
– PLA is cheaper than ABS
Increasing demand for silicone elastomers as insulation materials on the back of better conductive properties could pose a substitution threat for ABS
Slowdown in major economies: Slowdown in China’s manufacturing activities and contraction of Brazilian economy could have a negative impact on the global demand for engineered resins
Innovations in the ABS market are driven predominantly by light-weighting, cost reduction, performance, and sustainability needs
Natural fiber-reinforced ABS
Sustainability through Natural Fiber Reinforced ABS
In Nov 2015, Elix Polymers introduced Elix ECO ABS-NF, a natural fibre reinforced ABS composite material for injection moulding applications and specific extrusion process
The product can be processed without the need to modify machines. The key features are high stiffness, heat resistance, low molding shrinkage ratios, low emissions, and lower weight compared to glass fibre reinforced ABS
Elix has received EEA and Norway Grants, the first time, a European ABS market producer is given a grant to investigate new sustainable ABS materials and composites
Laser-weldable high-heat ABS
In May 2016, INEOS Styrolution and Japan’s Ichikoh (a manufacturer of lamps and mirrors for automobiles) jointly developed a laser weldable high heat ABS for rear lamp
The new rear lamp housings development has enhanced optimal aesthetics, better performance, and lower costs as a result of processing innovations (a new laser welding technique developed by Ichikoh and a unique styrenic polymer solution from INEOS Styrolution)
Challenges: Substitution in 3D printing from PLA resins, increasing the demand for silicone elastomers as insulation materials.
Opportunities: Shift in manufacturing base to demand center (Asia)
Information about the ABS market outlook, ABS market data, demand analysis, trade dynamics, import, export, etc. of regional and global markets. Porter’s five force analysis of North America, Europe and Asia. Industry drivers and constraints, major events and innovations, ABS market news, ABS market share. Asset backed securities market cost structure, price forecast. Supplier analysis with SWOT analysis of major players like LG Chem, CNPC, Formosa Chemicals, etc. Best abs finance industry practices and contract structures.
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