Recycled Acrylonitrile Butadiene Styrene Market to be Dominated by Automobile Segment Through 2027
Growing demand for
electronic devices & automotive parts and technological advancement is
expected to drive the demand for the recycled acrylonitrile butadiene styrene
market in the forecast period, 2023-2027.
According to TechSci Research
report, “Recycled Acrylonitrile Butadiene Styrene Market- Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028”, The Global Recycled Acrylonitrile Butadiene Styrene
Market is expected to increase at an impressive rate in the upcoming period,
2022-2027. Acrylonitrile Butadiene Styrene is an engineering opaque
thermoplastic also known as ABS. ABS have better durability and tensile
capacity than PVC despite fewer drawbacks. ABS can be recycled twice &
thrice times in their life cycle, which makes ABS, as well as recycled ABS,
more demandable in industries. According to Statista, in 2022, it is expected
that the global production of ABS worldwide will reach 13.49 million metric
tons in 2024. It can be interpreted that the ABS's output will increase in the
upcoming year. As production increases, the number of possible ABS scraps will
increase. Therefore, the need for recycled acrylonitrile butadiene styrene will
be affected in the projected period. Apart from these, raising awareness about
lightweight and home-based devices are other factors expected to positively
impact the market's growth through 2027.
The chances of contamination
of molecules in the recycled material are hindering the growth. Around the
world, government and private agencies are running different initiatives to
reduce the carbon footprint on the earth. On growing demand for exterior
panels, dashboards, bumpers, manufacturing electronics, housings, auto parts,
consumer products, pipe fittings, Lego toys and others are expected to
influence the market growth. Therefore, considering the above factor, it is
likely that the need for recycled acrylonitrile butadiene styrene will rise in
the anticipated year.
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data Figures spread through 110 Pages and an in-depth TOC on "
Global Recycled Acrylonitrile Butadiene Styrene Market"
The Global
Recycled Acrylonitrile Butadiene Styrene Market is segmented based on form,
color, and application.
The market is
divided into granules, others, and pellets based on form. Granule is expected
to hold the largest market share in the forecast period, 2023-2027. Among all
its categories, the granule is the form of ABS polymer that can be easily
transported and stored in different locations and places, even in the machine.
Thus, all the easiness makes ABS an ideal polymer form.
Based on
application type, the market is divided into appliances, automotive, consumer
goods, medical equipment, construction, and others. As per estimates, the
automobile segment will experience the highest market share during the forecast
period. Due to the light weight of their substitute products, heat resistance,
and easily molding abilities help the manufacturer to make products that
customers can efficiently operate. All the characterlike help markets to
achieve the desired need and achieve the expected growth of the automobile
sector.
Major
companies operating in Global Recycled Acrylonitrile Butadiene Styrene Market
are:
·
MBA Polymers
United Kingdom Limited (EMR Group)
·
INEOS
Styrolution Group GmbH
·
Eagle
Plastics Ltd.
·
Axion
Polymers
·
Dongguan
Guoheng Plastic Technology Co., Ltd.
·
LG Chem
Ltd
·
Toray
Industries, Inc.
·
Ravago
Group
·
CT
Polymers
·
Trinseo
Public Limited Company
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"The Asian-pacific region is
expected to dominate the global recycled acrylonitrile butadiene styrene market
due to the growing population & their growing disposable income, people
awareness and favorable government policies. The global Recycled Acrylonitrile
Butadiene Styrene Market is expected to grow at an impressive rate due growing
demand for recycled ABS polymer for manufacturing electronics, housings, auto
parts, consumer products, pipe fittings, Lego toys and other things. The
Statista report state that it is expected that the global production of ABS
worldwide will reach 13.49 million metric tons in 2024. Thus, the demand for
polymers used in the production of products and accessories will be directly
influenced by the growth of the recycled acrylonitrile butadiene styrene market
in the upcoming year.
Additionally,
Government policies such as Plastic Waste Management Amendment Rules
(manufacturers need to recycle 50% of their production), National recycling
strategy, Plastics Industry Recycling Action Plan" (PIRAP), and other
policies that are boosting the market share. Thus, the demand from various
industries, technological advancement, favorable government policies, and the
marketer's effort will impact the market's growth and propels the Global
Recycled Acrylonitrile Butadiene Styrene Market growth till 2027." said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Global Recycled Acrylonitrile
Butadiene Styrene Market, 2027- Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2017-2027, By Form (Granule, and Pellets), By Color
(Black, Blue, Green, Grey, and Others), By Application (Appliances, Automotive,
Consumer Goods, Medical Equipment, Construction, and Others), By Company and By
Region has evaluated the future
growth potential of Global Recycled Acrylonitrile Butadiene Styrene Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global recycled acrylonitrile butadiene
styrene market.”
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