The ABS market is projected to reach USD 39.9 billion by 2028, at a CAGR of 6.9% from USD 28.6 billion in 2023. Increasing demand for lightweight, durable, and impact-resistant materials in the automotive, electronics, appliances, and consumer goods sectors is driving the surge in ABS usage. Additionally, cost-effectiveness and ease of customization contribute significantly to its expanding market presence.
Based on Grade, High impact ABS is the largest segment in the ABS market due to its wide range of applications and superior toughness. It is extensively used in industries like automotive, electronics, appliances, and construction, where impact resistance and durability are crucial.
High-impact ABS grade offers superior strength and toughness to withstand harsh environments, making it a preferred choice for various end-use applications.
Based on Technology, Injection molding is the largest segment in the ABS market due to its versatility and efficiency in producing complex and high-precision parts. ABS's ease of molding and excellent flow properties make it ideal for injection molding processes, enabling the production of a wide range of components used in the automotive, electronics, appliances, and consumer goods industries.
The method's cost-effectiveness and ability to mass-produce parts contribute to its dominant position.
Based on Region, North America is the third-largest market after Asia Pacific and Europe for ABS due to its significant demand from industries such as automotive, electronics, and consumer goods. The region's robust manufacturing sector, technological advancements, and economic growth drive the consumption of ABS for various applications.
Additionally, contributing preference for lightweight and durable materials in these industries contributes to the growth of the ABS market in North America.
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