ABS Copolymers Market

The article provides a detailed analysis of the global acrylonitrile-butadiene-styrene (ABS) copolymers market, highlighting consumption trends, market performance projections, key importing and exporting countries, and price variations over the period of 2012 to 2022. It forecasts an upward consumption trend with a projected increase in market volume and value by 2030. Countries like China, South Korea, and the United States are identified as key consumers and producers of ABS copolymers, with notable growth rates and market sizes. The article also examines import and export trends, showcasing fluctuations in volumes, prices, and key players in the international ABS copolymers market.

Market Forecast

Driven by increasing demand for acrylonitrile-butadiene-styrene (abs) copolymers in primary forms worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market volume to 9.1M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.8% for the period from 2022 to 2030, which is projected to bring the market value to $21.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Acrylonitrile-Butadiene-Styrene (Abs) Copolymers In Primary Forms

In 2022, the amount of acrylonitrile-butadiene-styrene (abs) copolymers in primary forms consumed worldwide dropped to 8.1M tons, with a decrease of -3.3% against 2021. The total consumption volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global consumption attained the peak volume at 8.9M tons in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

The global ABS copolymers market revenue reduced to $15.9B in 2022, with a decrease of -6.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hit record highs at $18B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Consumption By Country

The country with the largest volume of ABS copolymers consumption was China (1.7M tons), accounting for 21% of total volume. Moreover, ABS copolymers consumption in China exceeded the figures recorded by the second-largest consumer, the United States (811K tons), twofold. The third position in this ranking was taken by South Korea (472K tons), with a 5.9% share.

In China, ABS copolymers consumption remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+2.4% per year) and South Korea (+18.2% per year).

In value terms, the largest ABS copolymers markets worldwide were China ($3.2B), the United States ($2B) and Japan ($922M), together accounting for 38% of the global market. Mexico, South Korea, Germany, Indonesia, Thailand, Nigeria, Italy, Vietnam, Iran and Democratic Republic of the Congo lagged somewhat behind, together comprising a further 30%.

Among the main consuming countries, South Korea, with a CAGR of +15.8%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of ABS copolymers per capita consumption was registered in South Korea (9.1 kg per person), followed by Japan (3.6 kg per person), Germany (2.7 kg per person) and Italy (2.5 kg per person), while the world average per capita consumption of ABS copolymers was estimated at 1 kg per person.

From 2012 to 2022, the average annual growth rate of the ABS copolymers per capita consumption in South Korea totaled +17.9%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Japan (+6.4% per year) and Germany (+4.6% per year).

Production

World Production of Acrylonitrile-Butadiene-Styrene (Abs) Copolymers In Primary Forms

In 2022, the amount of acrylonitrile-butadiene-styrene (abs) copolymers in primary forms produced worldwide declined to 7.9M tons, reducing by -4.4% on the year before. The total output volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 17% against the previous year. Global production peaked at 8.7M tons in 2018; however, from 2019 to 2022, production remained at a lower figure.

In value terms, ABS copolymers production fell to $14.1B in 2022 estimated in export price. Overall, production, however, saw modest growth. The most prominent rate of growth was recorded in 2016 with an increase of 14% against the previous year. Global production peaked at $16.5B in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were South Korea (1.5M tons), Taiwan (Chinese) (893K tons) and the United States (738K tons), with a combined 40% share of global production. Japan, China, Nigeria, Indonesia, Belgium, the Netherlands, Malaysia, Saudi Arabia, Mexico and Democratic Republic of the Congo lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Indonesia (with a CAGR of +14.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Acrylonitrile-Butadiene-Styrene (Abs) Copolymers In Primary Forms

In 2022, approx. 4.1M tons of acrylonitrile-butadiene-styrene (abs) copolymers in primary forms were imported worldwide; which is down by -15.8% compared with the year before. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 12% against the previous year. Over the period under review, global imports hit record highs at 5M tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, ABS copolymers imports dropped markedly to $9.4B in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 50% against the previous year. As a result, imports attained the peak of $11.6B, and then shrank markedly in the following year.

Imports By Country

In 2022, China (1.4M tons) was the largest importer of acrylonitrile-butadiene-styrene (abs) copolymers in primary forms, achieving 33% of total imports. Germany (201K tons) held a 4.9% share (based on physical terms) of total imports, which put it in second place, followed by the United States (4.8%). Malaysia (183K tons), Hong Kong SAR (182K tons), Mexico (152K tons), Vietnam (150K tons), Turkey (133K tons), Thailand (124K tons), Italy (118K tons), India (110K tons), Spain (96K tons) and Indonesia (87K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to ABS copolymers imports into China stood at -1.7%. At the same time, Malaysia (+13.2%), Spain (+11.6%), India (+7.8%), Mexico (+5.3%), Vietnam (+5.0%), Turkey (+4.3%), the United States (+3.2%) and Italy (+1.2%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in the world, with a CAGR of +13.2% from 2012-2022. Germany and Thailand experienced a relatively flat trend pattern. By contrast, Indonesia (-2.1%) and Hong Kong SAR (-11.9%) illustrated a downward trend over the same period. While the share of Malaysia (+3.2 p.p.), Spain (+1.6 p.p.) and Mexico (+1.5 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of China (-6 p.p.) and Hong Kong SAR (-11.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($2.5B) constitutes the largest market for imported acrylonitrile-butadiene-styrene (abs) copolymers in primary forms worldwide, comprising 27% of global imports. The second position in the ranking was held by Germany ($550M), with a 5.8% share of global imports. It was followed by the United States, with a 5.6% share.

In China, ABS copolymers imports contracted by an average annual rate of -3.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+0.6% per year) and the United States (+3.4% per year).

Import Prices By Country

In 2022, the average ABS copolymers import price amounted to $2,285 per ton, declining by -3.6% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 46%. As a result, import price attained the peak level of $2,372 per ton, and then dropped slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($3,060 per ton), while Malaysia ($1,347 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+2.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Acrylonitrile-Butadiene-Styrene (Abs) Copolymers In Primary Forms

In 2022, approx. 4M tons of acrylonitrile-butadiene-styrene (abs) copolymers in primary forms were exported worldwide; waning by -17.9% on the year before. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 9%. Over the period under review, the global exports attained the peak figure at 4.8M tons in 2021, and then shrank rapidly in the following year.

In value terms, ABS copolymers exports fell remarkably to $8.3B in 2022. Over the period under review, exports saw a mild contraction. The pace of growth appeared the most rapid in 2021 with an increase of 54% against the previous year. As a result, the exports attained the peak of $11B, and then declined dramatically in the following year.

Exports By Country

South Korea (1,076K tons) and Taiwan (Chinese) (901K tons) represented the largest exporters of acrylonitrile-butadiene-styrene (abs) copolymers in primary forms in 2022, finishing at near 27% and 23% of total exports, respectively. It was distantly followed by Malaysia (305K tons), Belgium (272K tons) and Hong Kong SAR (185K tons), together creating a 19% share of total exports. The Netherlands (177K tons), the United States (126K tons), Saudi Arabia (118K tons), Thailand (98K tons), Spain (92K tons), Japan (87K tons), China (81K tons) and Germany (63K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +46.6%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, South Korea ($2.3B), Taiwan (Chinese) ($1.7B) and Belgium ($731M) appeared to be the countries with the highest levels of exports in 2022, with a combined 57% share of global exports. The Netherlands, Malaysia, Hong Kong SAR, the United States, Spain, China, Saudi Arabia, Thailand, Japan and Germany lagged somewhat behind, together comprising a further 34%.

Among the main exporting countries, Saudi Arabia, with a CAGR of +48.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average ABS copolymers export price amounted to $2,102 per ton, dropping by -8% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 47%. As a result, the export price attained the peak level of $2,283 per ton, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($2,895 per ton), while Malaysia ($1,459 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+1.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform