Acrylonitrile Butadiene Styrene Market Regional Analysis:
Asia Pacific Market Insights
Asia Pacific region is expected to account for more than 49.5% market share by 2035, driven by escalating growth in construction and demand for automobiles and electronics. For instance, construction projects in Northeast Asia were predicted to increase by 5% to nearly USD 4.90 trillion in 2022, slightly higher compared with around USD 4.62 trillion in 2021. Furthermore, the surging demand for automobiles and the growing demand for ABS in the production of several electronic and electrical products are also anticipated to boost the market growth further over the forecast period in the region.
Latin America Market Insights
Furthermore, the Latin America acrylonitrile butadiene styrene market is also estimated to display notable market growth by the end of 2035. The growth of the market can be attributed to the rising demand for automotive lightweight material for the production of lightweight vehicles in the region. For instance, in Latin America, the sale of lightweight vehicles such as battery electric vehicles rose from 1 thousand in 2018 to 9 thousand in 2020. In addition to this, a significant surge in economic growth, coupled with rapid urbanization, and a growing ratio of construction activities, are some further factors that are anticipated to accelerate the market size of acrylonitrile butadiene styrene over the forecast period in the region.
