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Global Acrylonitrile Butadiene Styrene Market to Grow at a CAGR of 6.98% by 2030 | ChemAnalyst
Date : 2021-02-24
According to ChemAnalyst report,\r\n“Global Acrylonitrile Butadiene Styrene Market: Plant Capacity, Production,\r\nOperating Efficiency, Demand & Supply, Technology, End Use, Distribution\r\nChannel, Region, Competition, Trade, Customer & Price Intelligence Market\r\nAnalysis, 2015-2030”, global\r\nAcrylonitrile Butadiene Styrene (ABS) market has shown tremendous growth in the\r\npast five years and is anticipated to achieve a CAGR of 6.98% during the\r\nforecast period. Increasing population and growing demand for automobiles,\r\nelectrical and electronic equipment, development of new technologies and\r\nintroduction of potential new devices would drive the demand for Acrylonitrile\r\nbutadiene styrene in the forecast period. In addition, UNICEF’s push for the\r\neconomies to reach Sustainable Development Goal (SDG), aimed at Industry, innovation,\r\nand Infrastructure for all by 2030 would further support the market growth in\r\nthe forecast period.
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About 80% of ABS being produced in\r\nthe world today is used in automobiles, electrical & electronic equipment\r\nand housing & construction which is the key ingredient in manufacturing of\r\npipes. The remaining 20% of the demand for ABS comes from other applications,\r\nsuch as appliances, sports & leisure, consumer goods and many more. Propane\r\nammoxidation technology is currently the most used technology in ABS production\r\ntechnology using selective ammoxidation of propane. About 70% of the world’s\r\nABS is produced using Propane ammoxidation technology. This revolutionary\r\ntechnology is known to be the most economical one, with remarkable benefits\r\nsuch as reduced capital investments, maintenance costs, and waste treatment.
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Among various applications of ABS,\r\nautomotive dominate the Global Acrylonitrile Butadiene Styrene market. As of\r\nFY19, the automotive dominate ABS end user market are expected to propel the\r\nmarket growth backed by drivers like increased transport sector, rapid urbanization,\r\nand growing rate of per capita income globally. In the past few years, there\r\nhas been a remarkable shift in the consumer preference from the motorcycles to passengers\r\ncars. These factors are likely to propel the demand for Global Acrylonitrile\r\nButadiene (ABS) in the forecast period. Moreover,\r\nrising media awareness about owning superior quality automobiles are further driving\r\nthe ABS demand in the forecast period.
Acrylonitrile Butadiene Styrene\r\nis the derivative of acrylonitrile, Butadiene, styrene and hence its price is\r\ndirectly linked to the fluctuations of the crude oil and natural gas. Over the past\r\nfew years, global ABS prices have become highly susceptible to the cost of natural\r\ngas. In the first half of FY20 sudden outbreak of novel coronavirus followed by\r\nunprecedented fall in natural gas rendered a sharp downfall in the global\r\nAcrylonitrile Butadiene Styrene prices. Various industrial operations shutdown\r\nin the first half of the FY20 which impacted various industries linked with ABS\r\nmarket.
Regionally, Asia Pacific dominates\r\nthe Global Acrylonitrile Butadiene Styrene market and holds the largest market\r\nshare in FY19. Asia’s ABS market is anticipated to grow in emerging economies\r\nlike India, China and Japan due to continuously rising population and high\r\ndemand from the industrial and Automobile sector. South Asia, particularly\r\nIndia, seems to be the key market for ABS as the country is seen as a generally\r\nunder-supplied market with limited domestic manufacturing. Moreover, increasing\r\nfocus of the Indian government towards spreading awareness for production in\r\nIndia through campaigns such as MAKE IN INDIA, Atmanirbhar, etc initiatives would stimulate the growth of the global ABS\r\nmarket in the forecast period.
According to ChemAnalyst report, Global Acrylonitrile\r\nButadiene Styrene Market: Plant Capacity, Production, Operating Efficiency,\r\nDemand & Supply, Technology, End Use, Distribution Channel, Region,\r\nCompetition, Trade, Customer & Price Intelligence Market Analysis,\r\n2015-2030”, some of the\r\nmajor players operating global Acrylonitrile Butadiene Styrene market are Chimei,\r\nZhengjhiang Chimei, LG Chem, LG Yong Xin, Petrochina Jilin, Formosa chemical,\r\nTechno Polymer, Toray Plastics Malaysia, INEOS Styrolution, Lotte Advanced\r\nMaterials, Samsung SDI etc. In FY19, the leading ABS producer Chimei is using\r\nPropane ammoxidation technology as propane is available in abundant due to\r\nincreased production of natural gas. The\r\ntechnology improves the efficiency of the manufacturing process and cuts CO2\r\nemissions and water and electricity use.
“Being directly linked to the Automotive industry, the\r\nglobal ABS industry has shown a robust growth alongside growing population and\r\nchanging consumer preference. India is forecasted to become the world\'s third\r\nlargest polymer consumer market by 2025. In addition, growing per capita income\r\nglobally poised a stronger outlook to the country’s ABS demand. The nationwide\r\nlockdown affected the demand and increased the price due to minimum\r\ndemand. Global ABS pricing curve shows\r\nstrong movement in line with the natural gas which left major economics\r\nindulged into ABS production. With new competitors emerging across the Asian\r\nABS market, players anticipate that supply will soon outpace demand soon. At\r\nthis, it is extremely important to keep an eye which region will grab the\r\nbiggest market share in the upcoming years.” said Mr. Karan Chechi, Research\r\nDirector with TechSci Research, a research based global management consulting\r\nfirm promoting ChemAnalyst.
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Source : ChemAnalyst
Global 1,4 Butanediol Market to Grow at a CAGR of 7.55% by 2030 | ChemAnalyst
Date : 2021-04-09
According to\r\nChemAnalyst report, “Global 1,4\r\nButanediol Market: Plant Capacity, Production, Operating Efficiency, Demand\r\n& Supply, Technology, End Use, Distribution Channel, Region, Competition,\r\nTrade, Customer & Price Intelligence Market Analysis, 2015-2030”,\r\nGlobal 1,4 butanediol market has shown tremendous\r\ngrowth in the past five years and is anticipated to achieve a CAGR of 7.55%\r\nduring the forecast period. Increasing population and growing demand for various\r\napplications of 1,4 butanediol such as Tetrahydrofuran (THF), Polybutylene\r\nTerephthalate (PBT), Gamma-Butyrolactone (GBL), Polyurethane (PU), Other\r\nDerivatives would drive the demand for 1,4 butanediol in the forecast period. As\r\n1,4 butanediol is a sedative, stringent government regulations regarding\r\nconsumption of 1,4 butanediol are expected to hinder the demand for the\r\nforecast period.
Get more info:\r\nhttps://www.chemanalyst.com/industry-report/1-4-butanediol-market-542
1,4 butanediol\r\n(BDO) is a colorless viscous liquid and is one of the four stable isomers of\r\nbutanediol. It is used in the manufacturing of other organic chemicals such as\r\ntetrahydrofuran (THF) having application in spandex fibers and urethane\r\nelastomers, gamma-butyrolactone (GBL) having application in electronics, pharmaceuticals,\r\nagrochemicals, and high-performance polymers, polybutylene terephthalate (PBT)\r\nhaving application as engineering plastic, polyurethane (PU) and other\r\nderivatives. It is used as a solvent in organic synthesis, therefore has\r\napplication in various end use industries such as automotive, pharmaceutical,\r\nelectrical and electronics, artificial leather, and agriculture chemicals.\r\nUpcoming bio-based 1,4 butanediol is expected to push the demand further during\r\nthe forecast period.
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1,4 butanediol\r\ncan be used as a sedative and has psychotropic properties. This has led\r\ngovernments worldwide to put stringent regulations over consumption of 1,4\r\nbutanediol. This is expected to hider the demand during the forecast period.\r\nTetrahydrofuran (THF) which is a major component of spandex fibers which are\r\nalso driving the demand of 1,4 butanediol. Other applications include\r\ngamma-butyrolactone (GBL) which is increasing in demand due to application in\r\nvarious industries including electronics, pharmaceuticals, agrochemicals and,\r\nhigh performance polymers thus increasing the demand for 1,4 butanediol. As 1,4\r\nbutanediol is a protic organic solvent it has application in the synthesis of\r\nvarious plastics including polybutylene terephthalate (PBT) which has several\r\napplications as an engineering plastic.
1,4 butanediol is\r\nmanufactured by the reaction of acetylene and formaldehyde through the reppe\r\nprocess hence its price is directly linked to the fluctuations in the prices of\r\nacetylene and formaldehyde both having petrochemical origin. Over the past few\r\nyears, global 1,4 butanediol prices have become highly susceptible to the cost\r\nof acetylene and formaldehyde and competing protic solvents gaining ground in\r\nits markets. In the first half of FY20 sudden outbreak of novel coronavirus\r\nfollowed by fall in in the demand of automotive, electronics, and textiles\r\nrendered a slight downfall in the global 1,4 butanediol prices.
Regionally, Asia\r\nPacific dominates the Global 1,4 butanediol market and holds the largest market\r\nshare in FY19. Asia’s 1,4 butanediol market is anticipated to grow in the\r\neconomies like India, China, and Japan due to continuously rising population\r\nand high demand for automotive, textile, electronics, agrochemical sectors. South\r\nAsia, particularly China, seems to be the key market for 1,4 butanediol as the\r\ncountry is seen as a generally under-supplied market. Moreover, increasing regulations\r\nof the Indian government towards limiting the consumption of 1,4 butanediol\r\nbecause of its psychotropic properties is seen as a barrier to demand growth\r\nfor the forecast period.
According to\r\nChemAnalyst report, Global 1,4\r\nbutanediol Market: Plant Capacity, Production, Operating Efficiency, Demand\r\n& Supply, Technology, Application, End Use, Distribution Channel, Region,\r\nCompetition, Trade, Customer & Price Intelligence Market Analysis,\r\n2015-2030”, some of the\r\nmajor players operating global carbon nanotubes market are International\r\nSpecialty Products, BASF SE, Invista, Mitsubishi Chemical Corporation, Shanxi\r\nSanwei Group (China), Dairen Chemical Corporation, Nan Ya Plastics Corporation,\r\nLyondellBasell Chemicals.
“Being linked to\r\nthe polymeric materials industry, the global 1,4 butanediol industry has shown\r\na robust growth alongside growing population and changing consumer preference. China\r\nserves as the key growth region with sufficiently installed capacities. India\r\nalso shows an optimistic trend in demand rise during the forecast period as the\r\ngovernment is supporting domestic production various polymers in its make in\r\nIndia campaign. Global 1,4 butanediol pricing curve shows strong movement in\r\nline with the petroleum as the raw materials are petrochemicals. With new competitors emerging across the Asian\r\n1,4 butanediol market, players anticipate that supply will soon outpace demand\r\nin the near future. At this, it is extremely important to keep an eye which region\r\nwill grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director\r\nwith TechSci Research, a research based global management consulting firm promoting\r\nChemAnalyst.
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