ABS Alloys Market Size, Key Facts, Dynamics, Segments and Forecast Predictions 2023-2028
Global ABS Alloys Market Top Leaders, Size, Share, Forecast 2023-2028
The new report by Expert Market Research titled, ‘Global ABS Alloys Market Size, Share, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global ABS alloys market, assessing the market based on its segments like product types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 6.30%
The market growth can be attributed to the growing use of ABS alloys in automotive applications owing to their computability. As ABS alloys offer impact-resistant properties, they are increasingly preferred as a substitute for polycarbonates, hence propelling the market growth. With the aesthetic appearance provided by ABS alloys, they eliminate the requirement for additional coatings. This, in turn, is surging the use of ABS alloys in exterior automobile parts, which is driving the market growth. Further, the growing manufacturing of fuel-efficient vehicles is surging the use of ABS alloys as it is lightweight, thereby fuelling the market growth.
ABS Alloys Industry Definition and Major Segments
ABS alloys, variously known as acrylonitrile-butadiene-styrene (ABS) alloys, are blended alloys of polyethylenes and polycarbonates, among others. They have superior strength, flexibility, and impact resistance. ABS alloys are cost-effective, due to which they are increasingly used as a substitute for polycarbonates in various industries.
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The market, based on product types, is divided into:
- Polycarbonate ABS Alloys (PC ABS Alloys)
- Polyethylene Terephthalate ABS Alloys (PET ABS alloys)
Based on applications, the market is categorised into:
- Electrical and Electronics
The regional markets of ABS alloys are:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
ABS Alloys Market Trends
The market is being fuelled by the increasing use of polycarbonate ABS alloys (PC ABS alloys) owing to their excellent properties. The growth can also be attributed to the growing demand for consumer electronics like smartphones, laptops, and other portable electronic devices. With the increasing deployment of polycarbonate ABS alloys as a substitute for polycarbonate to boost the cost-effectiveness of electronic devices, the market is witnessing robust growth. In addition, polycarbonate ABS alloys have high wear and tear and impact resistance, due to which they are increasingly preferred in the electronics industry. With the growing demand for electronic devices in various industries, the market for ABS alloys is poised to grow robustly in the coming years.
Key Market Players
The major players in the market are LOTTE Chemical CORPORATION, KUMHO PETROCHEMICAL, LG Chem, RTP Company, and Sumitomo Bakelite Co., Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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