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ABS Alloy Market By Product Type (Polycarbonate ABS Alloys (PC ABS Alloys), Polyethylene Terephthalate ABS Alloys (PET ABS alloys) and Others); By End Users (Automotive, Electrical & Electronics, Architectural and Others); and Region - Global Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030
Acrylonitrile butadiene styrene (ABS) alloy refers to alloy created by mixing acrylonitrile butadiene styrene with other metals in an appropriate amount. ABS consist of three parts: acrylonitrile, butadiene, and styrene. Acrylonitrile is a monomer that is formed by ammonia and propylene. Butadiene is a byproduct of ethylene produced from steam crackers. Styrene is made by dehydrogenation of ethylbenzene which offers processability and rigidity to ABS alloy. Polyethylene terephthalate ABS alloys and Polycarbonate ABS Alloys are the principal ABS Alloys. ABS is a resin that has mechanical and molding properties. ABS is a long-lasting and strong resin that provides greater impact properties and higher heat distortion. ABS alloys are used in the manufacturing of household appliances, aerospace, construction, computers, office equipment and optical fibers because of their thermal stability.
Global ABS Alloy market to surpass USD 32.1 billion by 2030 from USD 9.41 billion in 2020 at a CAGR of 13.02% throughout the forecast period, i.e., 2021-30. Global ABS Alloy market is estimated to grow due to its growing demand in automotive and electronics industry. ABS Alloy possesses exclusive qualities including corrosion resistance, thermal resistance, high tensile strength, and low water absorption which is anticipated to grow the ABS alloy market in near future.
Global ABS Alloy market is segmented by product type into polycarbonate abs alloys (PC ABS Alloys), polyethylene terephthalate ABS Alloys (PET ABS alloys), and others. THE Polycarbonate ABS alloy segment held the largest market share of XX.X% in the year 2020. Polycarbonate ABS Alloys are used in the construction and automobile industry due to which its demand is rising. It is used in automotive interior and exterior components, electrical housing, medical hardware as it provides good impact resistance and better process ability and appearance. Besides, it is ecofriendly which has expanded the market growth in recent years.
Global ABS Alloy market is distributed by end-users into automotive, electrical & electronics, architectural and others. The Electrical & electronics segment held the largest market share of XX.X% in the year 2020 on account of the rising demand for ABS alloys in this sector. ABS offer excellent all-round performance for electronic appliances or equipment like computer, keyboards
Wide application of ABS alloy in the automotive industry is anticipated to boost the global ABS alloy market over the forecast period. ABS alloy is used in the interior, exterior and lighting systems of automobiles owing to its heat resistance and high strength properties. Exceptional dielectric and thermal stability are shown by ABS alloy make it better to utilize in applications such as knee bolster, love box, lower instrument panels, and the middle console. Moreover, mounting consumption of polycarbonate ABS alloys (PC ABS alloys) in the automotive industry is projected to drive the global ABS alloy market in coming years.
Household and consumer goods are the major utilizers of ABS. ABS is used in appliances such as shavers, food processors, refrigerators, and vacuum cleaners. The keycaps of the keyboard are made from ABS. Because of its better thermal stability, it is widely employed in household appliances.
ABS alloy suffers compatibility problems which is likely to limit the demand for ABS alloys over the forecasting period. Furthermore, in the presence of greases, it can suffer from stress cracking.
Global ABS Alloy market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Global ABS Alloy market in North America held the largest market share of XX.X% in the year 2019. North America will continue to dominate the global ABS alloy market due to rise in demand for such alloys in the automotive sectors, electrical & electronics, and architecture. Additionally, a rise in population and technical innovations in this region is anticipated to boost the demand for ABS alloys. The ABS alloys market in Europe is projected to be driven by the rising in demand for these alloys in automotive applications during the forecast period. The ABS alloys market in China, India, Japan, and South Korea in Asia Pacific is estimated to increase at a significant pace during the forecast period.
ABS Alloy Market Segments:
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