ABS Market

ABS Market Size

The global ABS Market size was valued at USD 27.65 billion in 2023 and is projected to grow from USD 28.97 billion in 2024 to USD 41.72 billion by 2031, exhibiting a CAGR of 5.35% during the forecast period.

The consumer electronics sector contributes significantly to the expansion of the ABS market, supported by the rising demand for lightweight, durable, and heat-resistant materials. ABS plastics are widely used in electronic casings, components, and accessories due to their excellent strength and dimensional stability. The increasing penetration of smartphones, laptops, and home appliances globally has highlighted the pressing need for reliable and cost-efficient materials.

In the scope of work, the report includes products offered by companies such as LG Chem, Asahi Kasei Corporation, SABIC, INEOS, BASF, DuPont, Trinseo, Formosa Chemicals & Fibre Corp., KUMHO PETROCHEMICAL, CHIMEI, and others.

Advancements in healthcare technology and the growing demand for disposable medical devices are further fueling demand.

• RTI International's July 2023 report reveals that single-use plastics such as syringes, IV bags, and face masks constitute approximately 20% of medical waste generated by U.S. hospitals. Additionally, plastics used during the pandemic- contribute to 1.5% of the total plastic pollution in the ocean.

ABS plastics allow manufacturers to meet stringent regulatory requirements while ensuring high performance, making them crucial for innovative and efficient healthcare solutions and contributing to market growth.

Acrylonitrile butadiene styrene (ABS) is a thermoplastic polymer known for its strength, toughness, and versatility. Composed of acrylonitrile, which provides chemical resistance and rigidity, butadiene, which enhances impact strength, and styrene, which contributes to surface gloss and processability, ABS is widely used in automotive components, consumer electronics, home appliances, toys, and construction.

Its lightweight, durable nature, ability to withstand temperatures and mechanical stress, and recyclability makes it ideal for high performance application and sustainable manufacturing practices.

Analyst’s Review

Sustainability efforts and technological advancements in recycling have emerged as significant factors contributing to the growth of the ABS industry. Market players are adopting innovative strategies to align with the growing demand for eco-friendly materials across various sectors.

The introduction of bio-based ABS plastics derived from renewable resources marks a significant development, addressing environmental concerns while maintaining material strength, durability, and versatility. This shift aligns with industries such as automotive, electronics, and construction, where sustainability is increasingly prioritized.

• In June 2024, Swedish greentech company Lignin Industries AB launched Renol, a bio-based material derived from lignin. Designed as a bio-additive for thermoplastics and bioplastics, including ABS, Renol offers a sustainable alternative to fossil-based materials. This advancement promotes fully recyclable end products, reducing the carbon footprint and advancing environmentally conscious manufacturing.

Recycling technologies are contributing significantly to market expansion, facilitating the production of high-quality recycled ABS plastics. This reduces dependence on virgin materials, minimizes waste, and aligns with stringent regulatory requirements focused on lowering carbon emissions. These advancements support a circular economy by enabling the reuse of post-consumer and post-industrial ABS waste while nsuring competitive material performance.

ABS Market Growth Factors

The increasing use of ABS in the automotive industry is fueling market growth. These materials offer exceptional impact resistance, durability, and a lightweight composition, making them ideal for vehicle interiors, exteriors, and structural components.

• According to an analysis by the U.S. Department of Energy, reducing vehicle weight by 10% could improve fuel economy by 6%–8%. By integrating lightweight components and high-efficiency engines, enabled by advanced materials, into 25% of the U.S. vehicle fleet, over 5 billion gallons of fuel could be saved annually by 2030.

Their ability to enhance fuel efficiency by reducing overall vehicle weight has made them a preferred choice in the production of electric and conventional vehicles. Moreover, ABS plastics allow for cost-effective production with attractive finishes, meeting the growing consumer demand for innovative and sustainable automotive solutions, thereby propelling market expansion.

The packaging industry has contributed significantly to the growth of the ABS market. These plastics are extensively used in packaging for their impact resistance, rigidity, and lightweight properties, making them ideal for protective and visually appealing solutions.

Industries such as consumer goods, food and beverage, and pharmaceuticals rely on ABS-based packaging to ensure product safety and appeal. The increasing demand for customized and innovative packaging designs has further boosted the adoption of ABS plastics.

A major factor restraining the growth of the ABS market is the fluctuating prices of raw materials, particularly acrylonitrile, butadiene, and styrene, which are derived from petroleum. Volatility in crude oil prices and supply chain disruptions affect production costs, posing challenges for manufacturers to maintain profitability and pricing competitiveness.

To address this issue, companies are increasingly investing in bio-based ABS alternatives and adopting advanced recycling technologies to reduce dependency on virgin materials. Innovations in sustainable production processes, such as chemical recycling and circular economy practices, optimizes cost while adhering to environmental regulations, stabilizing supply chains and enhancing long-term market resilience.

ABS Industry Trends

The adoption of ABS in 3D printing technology is bolstering the growth of the ABS market. Its ability to produce complex geometries with high precision and durability makes it a preferred material for prototyping and manufacturing across various industries. ABS plastics offer excellent dimensional stability and strength, enabling intricate designs in automotive, aerospace, and healthcare applications.

With the increasing utilization of 3D printing for customization and small-scale manufacturing, the demand for ABS plastics continues to rise, creating substantial growth opportunities.

The growth of the ABS market is supported by rising investments in research and development aimed at improving material properties and expanding applications. Companies are focusing on enhancing the thermal stability, chemical resistance, and recyclability of ABS plastics to cater to diverse industrial demands.

• In February 2024, Polystyvert, a leader in innovative plastic recycling technologies, launched a pilot unit for ABS dissolution recycling. This advancement presents new opportunities for sustainability in sectors such as automotive, toys, electronics, and small household appliances.

Segmentation Analysis

The global market has been segmented based on type, grade, technology, end use industry, and geography.

By Type

Based on type, the market has been segmented into opaque, transparent, and coloured. The opaque segment led the ABS market in 2023, reaching a valuation of USD 12.86 billion. The demand for opaque ABS is driven primarily by its enhanced impact resistance, durability, and aesthetic appeal.

These qualities make it ideal for applications in industries such as automotive, consumer electronics, and construction, where product strength and appearance are crucial. Opaque ABS also provides better UV stability, which is essential for outdoor and long-term use. Additionally, the material's ease of molding and cost-effectiveness support its widespread use, reinforcing the dominance of the opaque segment in the market.

By Grade

Based on grade, the market has been classified into blended, electroplatable, flame retardant, and others. The blended segment secured the largest revenue share of 42.47% in 2023. Blended ABS combines various grades of ABS with other polymers to enhance properties such as impact resistance, heat tolerance, and processability.

This renders it suitable for applications in automotive, electronics, and consumer goods. The ability to be customized for specific needs, such as improved strength or flame retardancy, makes it highly appealing to manufacturers. Furthermore, the growing demand for lightweight and durable components in industries such as automotive is increasing its adoption.

By Technology

Based on technology, the market has been divided into 3D printing, blow molding, injection molding, and others. The injection molding segment is set to grow at a CAGR of 6.01% through the forecast period.

Injection molding is widely adopted manufacturing process known for its advantages such as faster production cycles, minimal waste, and cost-effectiveness, making it ideal for mass production of ABS plastic components. It is particularly popular in industries such as automotive, electronics, and consumer goods, where durability and design flexibility are crucial.

The growing demand for lightweight, durable, and intricately designed ABS components, particularly in automotive interiors, housings, and medical devices, is propelling the growth of the injection molding segment.

ABS Market Regional Analysis

Based on region, the global market has been classified into North America, Europe, Asia-Pacific, MEA, and Latin America.

The Asia Pacific ABS market accounted for a substantial share of around 36.45% in 2023, with a valuation of USD 10.08 million. This growth is largely attributed to rising investments in construction and infrastructure projects across emerging economies such as China, India, and Southeast Asian countries.

Rapid urbanization and industrialization have increased the demand for durable and versatile materials, including ABS plastics in flooring, panels, and structural components. Government initiatives to modernize transport infrastructure such as railways, highways, and airports are boosting the adoption of ABS plastics due to their lightweight nature, durability, and energy efficiency.

• According to the Press Information Bureau, India’s National Highway (NH) network has witnessed substantial growth, expanding by 60% from 91,287 km in 2014 to 1,46,145 km in 2023. The length of four lane NHs surged 2.5 times, from 18,387 km in 2014 to 46,179 km in November 2023. The construction pace of NHs also improved by 143%, rising from 12.1 km per day in 2014 to 28.3 km per day. Additionally, as of January 31, 2024, over 100 Vande Bharat train services are operational, with an impressive 96.62% occupancy rate in 2022-23. On March 12, 2024, the government introduced 10 additional Vande Bharat trains.

Additionally, Asia Pacific is a global hub for consumer electronics production, with China, South Korea, and Japan leading in the manufacturing of smartphones, televisions, and home appliances. The rising demand for lightweight, durable, and heat-resistant materials in electronics has propelled the adoption of ABS plastics.

Europe ABS market is anticipated to grow at a CAGR of 5.79% over the forecast period. Europe’s commitment to a circular economy and achieving net-zero emissions by 2050 has fostered the adoption of bio-based and recycled ABS plastics. Companies are actively investing in R&D to produce sustainable ABS solutions that meet the performance standards of virgin materials.

For instance, innovative recycling technologies, such as mechanical and dissolution recycling, are enabling the recovery of high-quality ABS for reuse in automotive, electronics, and packaging sectors.

Regulatory measures such as the EU Green Deal, Extended Producer Responsibility (EPR), and waste reduction targets are compelling manufacturers to integrate recycled ABS into their product lines, responding to the rising consumer and industrial demand for eco-friendly materials.

Competitive Landscape

The global ABS market report will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions.

Strategic initiatives, including investments in R&D activities, the establishment of new manufacturing facilities, and supply chain optimization, could create new opportunities for market growth.

List of Key Companies in ABS Market

• LG Chem
• Asahi Kasei Corporation
• SABIC
• INEOS 
• BASF 
• DuPont
• Trinseo
• Formosa Chemicals & Fibre Corp.
• KUMHO PETROCHEMICAL
• CHIMEI

Key Industry Developments

• March 2024 (Partnership): Ineos Styrolution, a subsidiary of INEOS, partnered with Playmobil to integrate Ineos Styrolution bio-based ABS and MBS bioplastics into the Playmobil 1.2.3 product range, designed for toddlers. This collaboration enables Playmobil to adopt a sustainable production process using plant-based materials as feedstock.
• June 2024 (Launch): Trinseo launched new materials containing recycled materials, including acrylonitrile-butadiene-styrene (ABS) and styrene-acrylonitrile (SAN), under the MAGNUM ECO+, MAGNUM CR, and TYRIL CR trade names. These materials provide a drop-in solution, reducing the carbon footprint by up to 18% compared to standard industrial grades of ABS and SAN.

The global ABS market has been segmented as:

By Type

• Opaque
• Transparent
• Coloured

By Grade

• Blended
• Electroplatable
• Flame Retardant
• Others

By Technology

• 3D Printing
• Blow Molding
• Injection Molding
• Others

By End Use Industry

• Automotive and Transportation
• Construction
• Electronics
• Consumer Goods and Appliances
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • UK.
  • Spain
  • Germany
  • Italy
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Middle East & Africa
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America