Acrylonitrile Butadiene Styrene Market Share

Asia Pacific Market Forecast

Asia Pacific industry is estimated to account for largest revenue share by 2037. The growth of the market can be attributed majorly to the escalating growth in the construction industry owing to the huge investment by the government in various infrastructural projects in the region. 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 Forecast

Furthermore, the Latin America acrylonitrile butadiene styrene market is also estimated to display notable market growth by the end of 2037. 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.