ABS Resins Market Trends

Global ABS Resins Market Overview

ABS Resins Market Size was valued at USD 30.9 Billion in 2022. The ABS resin industry is projected to grow from USD 32.4 Billion in 2023 to USD 47.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2023 - 2032). Increased demand for lightweight, durable, and aesthetically pleasing materials in various industries and the increasing focus on recycling and sustainability are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

ABS Resins Market Trends

• 
  

  Growing demand for lightweight, durable, and aesthetically pleasing materials in various industries is driving the market growth

  
  

Market CAGR for ABS resins is being driven by the rising demand for lightweight, durable, and aesthetically pleasing materials in various industries. In industries such as automotive and aerospace, there is a growing emphasis on reducing the weight of components and structures to enhance fuel efficiency and overall performance. ABS resins offer a compelling solution due to their lightweight nature, making them ideal for use in interior and exterior automotive parts, aircraft interiors, and lightweight consumer goods.

ABS resins are renowned for their durability and impact resistance, which makes them indispensable in applications where materials must withstand mechanical stress and harsh environmental conditions. These resins are favored for components such as automotive bumpers, electronic enclosures, and protective gear in sports and recreation. ABS resins can be easily molded and finished to achieve aesthetically pleasing surfaces. Their ability to take on a high-quality finish, whether it's a glossy or textured appearance, makes them a preferred choice for consumer goods, electronics, and home appliances where the visual appeal of the product is a significant selling point. The consumer electronics industry values ABS resins for their ability to provide a balance between performance and aesthetics. These resins are commonly used in the production of smartphone cases, laptops, and other electronic devices, contributing to the market's growth as consumer electronics evolve and advance.

ABS resins can be easily compounded with additives and modifiers to meet specific requirements. This customizability allows manufacturers to tailor ABS materials for particular applications, ensuring that the material can meet the desired balance of properties, including UV resistance, flame retardancy, or conductivity. The automotive industry heavily relies on ABS resins for a wide range of components, including dashboards, interior trim, door panels, and grilles. These materials enhance the overall look and feel of a vehicle's interior while providing the required durability and safety features. The ease of processing ABS resins through injection molding is a key factor in their widespread use. This efficiency in manufacturing facilitates large-scale and cost-effective production, which is essential for industries where mass production is common.

ABS resins are recyclable, and as sustainability becomes a crucial consideration for many industries, the use of recyclable materials like ABS is encouraged. This trend further boosts the demand for ABS resins as businesses seek to reduce their environmental footprint. Thus driving the ABS Resins market revenue.

In May 2024, BSH Home Appliances chose a sustainable ABS plastic, chemically recycled by ELIX Polymers, for the stand, arm, and other components of the newest Stand Mixer by BOSCH. ELIX Polymers has created a customized ABS P3H-AT CR25 with a 25% concentration of certified raw materials and a reduced carbon footprint of 21%. This specialized product is available in multiple colors. P3H-AT possesses numerous characteristics that satisfy the stringent demands of a stand mixer. After years of baking sessions, the material undergoes rigorous cleaning processes. It has excellent chemical resistance and incorporates an anti-static ingredient. P3H-AT possesses multiple characteristics that satisfy the stringent criteria of a stand mixer. Within a bustling kitchen setting, this product offers exceptional durability against forceful impacts. Its superior design ensures remarkable stability, particularly when kneading dense bread dough. After years of baking sessions, the material undergoes rigorous cleaning processes. It possesses excellent chemical resistance and includes an anti-static ingredient. The material provides a high gloss finish to fulfill the standards of excellent quality and design, with a particular emphasis on intricate details. The success of the collaboration between BSH and ELIX Polymers can be attributed to the extensive interaction between their technical departments, which have been collaborating on multiple product projects for several years.

ABS Resins Market Segment Insights

ABS Resins Process Type Insights

The ABS Resins Market segmentation, based on process type, includes Injection Blow Molding, Extrusion Blow Molding, and Injection Stretch Blow Molding. The injection blow molding segment dominated the market, accounting for the largest market revenue due to its versatility and efficiency in creating high-quality, complex, and seamless plastic products. The IBM process allows for precise control over the thickness and distribution of ABS resin within the molds, resulting in consistent and reliable final products with minimal waste. This level of control and the ability to produce a wide variety of items, from bottles to automotive components, make IBM a preferred method for utilizing ABS resins across multiple industries. Further, the extrusion blow molding process type is the second most dominant in the market as ABS resins are commonly used in the production of plastic parts through extrusion blow molding, which involves blowing air into a heated tube of plastic to create hollow plastic objects, such as bottles and containers.

Figure 1: ABS Resins Market, by Process Type, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

ABS Resins End User Insights

The ABS Resins Market segmentation, based on end users, includes Automotive and Transportation, Construction, Electronics, Consumer Goods and Appliances, and Others. The automotive & transportation category dominates the market due to the widespread use of ABS in this industry. ABS resins are prized for their excellent impact resistance, durability, and ease of processing, making them ideal for a variety of automotive applications, including interior and exterior components such as dashboards, grilles, and bumpers. As the automotive industry continually seeks lightweight, durable, and aesthetically pleasing materials, ABS resins are a preferred choice, further solidifying their prominence in this sector. Further, the electronics category is the second most dominant as ABS resins are widely used in the electronics industry for their durability, electrical insulating properties, and aesthetic qualities, making them a significant component in the production of electronic casings, housings, and components.

ABS Resins Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American ABS resin market area dominates this market due to the strong presence of key industries such as automotive, consumer electronics, and aerospace, which have a substantial demand for lightweight, durable, and aesthetically pleasing materials. Additionally, the region's focus on technological innovation and adherence to stringent quality standards further solidify its leadership in the ABS resin market.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: ABS RESINS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's ABS Resins market accounts for the second-largest market share due to the demand for high-performance materials in the automotive and electronics industries, where ABS resins are valued for their durability, aesthetic versatility, and lightweight properties. Further, the German ABS Resins market held the largest market share, and the UK ABS Resins market was the fastest-growing market in the European region.

The Asia-Pacific ABS resin market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the region's rapid industrialization, expanding automotive and electronics sectors, and the demand for lightweight, durable materials in various manufacturing applications. Moreover, China’s ABS Resins market held the largest market share, and the Indian ABS Resins market was the fastest-growing market in the Asia-Pacific region.

ABS Resins Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the ABS Resins market grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the ABS resin industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global ABS resin industry to benefit clients and increase the market sector. In recent years, the ABS Resins industry has offered some of the most significant advantages to different industries. Major players in the ABS Resins market, including 3M Company, Arkema Group, Ashland Global Holdings, Inc., BASF SE, Chemtura Corporation, Covestro AG, Elix Polymers, Formosa Chemicals & Fibre Corporation, Grand Pacific Petrochemical Corporation, Lanxess AG, LG Chem, LyondellBasell Industries NV, NEOS Styrolution Group GmbH, NOVA Chemicals Corporation, SABIC, and others, are attempting to increase market demand by investing in research and development operations.

INEOS is a multinational petrochemical and chemical company headquartered in London, England. Founded in 1998, it has rapidly grown to become one of the largest chemical companies in the world. INEOS operates in various sectors, including chemicals, oil and gas, and plastics. The company has a diverse portfolio of products, including petrochemicals, specialty chemicals, and polymers, which are used in a wide range of applications, such as automotive, construction, packaging, and healthcare. In August 2023, INEOS announced a partnership with Suez to develop and commercialize new technologies for the production of sustainable ABS resins. The two companies will work together to develop new ways to recycle ABS resin and to use renewable feedstocks in the production of ABS resin.

The American Chemistry Council (ACC) is a prominent trade association representing the chemical industry in the United States. Established in 1872, ACC is headquartered in Washington, D.C. The organization serves as an advocate and industry voice for chemical manufacturers and suppliers, including companies involved in the production of various chemicals, plastics, and related products. The American Chemistry Council is actively engaged in shaping public policy, advocating for industry interests, and promoting responsible environmental and safety practices within the chemical sector. It plays a significant role in addressing regulatory issues, advancing sustainable practices, and promoting innovation in the chemical industry. In September 2023, the American Chemistry Council (ACC) released a report on the economic impact of the ABS resin industry in the United States. The report found that the ABS resin industry supports over 100,000 jobs in the United States and contributes more than $10 billion to the US economy.

Key Companies in the ABS Resins market include

• 3M Company


• Arkema Group


• Ashland Global Holdings, Inc.


• BASF SE


• Chemtura Corporation


• Covestro AG


• Elix Polymers


• Formosa Chemicals & Fibre Corporation


• Grand Pacific Petrochemical Corporation


• Lanxess AG


• LG Chem


• LyondellBasell Industries NV


• NEOS Styrolution Group GmbH


• NOVA Chemicals Corporation


• SABIC (Saudi Basic Industries Corporation)

ABS Resins Industry Developments

November 2023: The China Plastics Processing Industry Association (CPPIA) released a report on the ABS resin market in China. The report found that the ABS resin market in China is expected to grow at a rate of 5% per year over the next five years.

April 2023: Trinseo announced a partnership with Borealis to develop and commercialize next-generation ABS resins. The partnership will focus on developing ABS resins with improved performance and sustainability characteristics.

October 2023: The European Plastics Federation (EPF) released a report on the ABS resin market in Europe. The report found that the ABS resin market in Europe is expected to grow at a rate of 3% per year over the next five years.

In January 2024, Bhansali Engineering Polymers Limited obtained environmental approval from the State Level Environment Impact Assessment Authority in Rajasthan, India. This approval allows the company to expand its production of ABS resin to 200,000 tons per annum and saleable SAN resin to 25,000 tons per annum, resulting in a total production capacity of 225,000 tons per annum at its plant in Rajasthan. Bhansali has obtained environmental certification for a 50,000 TPA HRG (High Rubber Graft) at the Satnoor facility. With this approval, the business now has all the necessary authorizations to reach a total capacity of 225,000 TPA. The current permission allows for the growth of ABS resin production up to 200,000 TPA and saleable SAN resin production up to 25,000 TPA. However, the business now wants to expand ABS and SAN capacity to 145,000 TPA, with the expansion expected to be completed by March 2026.

ABS Resins Market Segmentation

ABS Resins Process Type Outlook

• Injection Blow Molding


• Extrusion Blow Molding


• Injection Stretch Blow Molding

ABS Resins End User Outlook

• Automotive and Transportation


• Construction


• Electronics


• Consumer Goods and Appliances


• Others

ABS Resins Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America