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Flame retardant ABS plastic: four factors driving global market development
According to the latest report released by the global market research institute, the global flame-retardant ABS plastic (acrylonitrile-butadiene-styrene) market sales will increase to 38 billion US dollars in 2024, with a compound annual growth rate of 6.0%. Among them, home appliances The potential growth of the electronics, electrical appliances, automotive, and construction industries will drive the rapid development of the flame-retardant ABS plastic market.
Four factors promote the development of the global flame retardant ABS plastic plastic market
I. Status The home appliance market is dominant
At present, the proportion of flame retardant ABS plastic used in household appliances accounts for more than 30%, which is in a dominant position. Due to the high design flexibility, light weight, low cost, corrosion resistance, high temperature resistance, high flame resistance, beautiful appearance and excellent mechanical properties of flame retardant ABS plastics, urbanization and the increase in consumption of home appliances are flame retardant One of the main factors for the surge in demand for the ABS plastic market, the future expansion of the global home appliance industry will create favorable conditions for the growth of the flame retardant ABS plastic market.
It is estimated that by 2024, the compound annual growth rate of the flame retardant ABS plastic market in the electronic and electrical industry will exceed 3.5%. Consumers' improved lifestyle and increasing purchasing power are the main factors driving the growth of the industry. The increasing demand for high-temperature and corrosion-resistant materials for computers, computer accessories, business machines and electronic equipment will help increase the demand for flame-retardant ABS plastics.
Better electrical insulation performance is a significant feature that increases the share of flame retardant ABS plastics in the electrical and electronic fields. It also provides high hardness and gloss surfaces and is widely used in a variety of appliances including televisions, printing and computers.
Second, the market auto output promotes growth
Currently, the global automotive flame retardant ABS plastic usage accounts for more than 30%. It is expected that by 2024, the global automotive flame retardant ABS plastic market will grow at a compound annual growth rate of 4%, an increase of 2.1 million tons, and is widely used in automotive parts. Including body, instrument panel, bumper, body cover, steering wheel and tire.
The trend of reducing vehicle weight to improve fuel efficiency is the main driving factor for the widespread adoption of flame retardant ABS plastics in automobiles. In addition, the increasing production of automobiles will further promote the growth of the flame-retardant ABS plastic market.
Prospects for the construction industry
Flame retardant ABS plastic is widely used in building plastic sheets, pipes and accessories. As per capita disposable income increases, construction spending growth in developing countries is one of the key factors for industrial growth. It is expected to maintain a compound annual growth rate of 5% by 2024. In the future, construction experts will focus on building materials to light, high-strength, and flame-retardant materials, so that the flame-retardant ABS plastic market in this field will surge.
Flame retardant ABS plastic has replaced more and more traditional materials in recent years due to its convenient manufacturing and low price. In addition, due to the increasing demand for appearance, the use of steel in the manufacturing industry has been greatly reduced, and different end users have increasingly demanded colors, which is one of the main factors for the growth of the flame-retardant ABS plastic market. However, the industry also has hidden concerns. In the next few years, various countries will successively introduce regulations on non-degradable and non-renewable materials, which may hinder the growth of the flame-retardant ABS plastic industry.
Fourth, the growth trend of countries and regions
Affected by the growing demand from the automotive industry and electronics, the US flame retardant ABS plastic market will exceed $ 3 billion by 2024. High demand from chemical, polymer and manufacturing industries will lead to an increase in demand for flame retardant ABS plastics. In addition, consumer product innovation will drive market demand. The recent change in production trends has led to a decline in the production capacity of flame retardant ABS plastic manufacturers, which has led to an increase in imports by major manufacturing companies.
Currently, the Asia-Pacific region is a major contributor to the flame retardant ABS plastic market, accounting for more than 68% of the global flame retardant ABS plastic market. Due to the rapid growth of population and income, demand growth in the automotive, construction, electronics and consumer goods industries will drive demand for flame-retardant ABS plastics. It is estimated that in 2024, Europe, led by Germany, France, the United Kingdom, and Russia, the compound annual growth rate of the flame-retardant ABS plastic market will exceed 6%. Europe is the main production region of the global automotive industry. It is one of the main factors for the growth of the flame retardant ABS plastic market.