The India Acrylonitrile Butadiene Styrene (ABS) market has reached around 250 thousand tonnes in FY2022 and is expected to further grow at a CAGR of 6.37% during the forecast period until FY2035. In May 2022, Supreme Petrochem Ltd announced that the company and Vesralis have engaged into a license and basic engineering design agreement to produce bulk ABS, for primary use in automotive parts.
Acrylonitrile-butadiene-styrene (ABS) is a copolymer plastic containing Styrene, Butadiene, and Acrylonitrile. The production and availability of these three chemicals have a big impact on the ABS supply in the Indian market. The excellent properties of ABS make it a profound choice in the electrical and electronic sector for the jacketing of wires and manufacturing of appliances. ABS is a highly preferred material in the automotive industry for the auto-braking system and various other parts owing to its high thermal insulation and superior strength. The government’s initiative to promote the domestic production of consumer goods and feedstock in the coming years is expected to be a silver lining for the manufacturers eyeing to widen their profit margins. The India Acrylonitrile Butadiene Styrene (ABS) market is anticipated to reach 540 thousand tonnes by FY2035.
Based on the region, the Acrylonitrile Butadiene Styrene (ABS) market is segmented into West, South, North, and South. During the historic period of FY2015-FY2021, west India displayed a highest consumption, followed by South India. The Acrylonitrile Butadiene Styrene (ABS) market in the western region of India as a result of the rising demand for ABS in the electronic and electrical products which are mostly manufactured in states like Gujarat, Maharashtra, and Rajasthan. Furthermore, rising application of ABS in application various industries including automotive and construction sectors is anticipated to further push the demand in the forecast period.
In India, ABS is being manufactured by Bhansali Engineering and Ineos Styrolution with a total capacity of around 149KTA in FY2022. Since these are the only players operating in Indian ABS Market, they contribute to a market share of approximately 75 percent in satisfying the overall demand. The rest of the demand is met through cheaper imports from China and South Korea. Although the market prompts incredible opportunities for growth after the government’s initiative of self-reliant India, the entry of new players in the Indian market is still a tough deal as there are certain complexities and high capital investment involved in the manufacturing of ABS.
Based on end-use segment, the India Acrylonitrile Butadiene Styrene (ABS) market is segmented into Home Appliances, Electrical & Electronics, Automotive, Building & Construction, and Others. Among these, Home Appliances are the leading segment and held a share of roughly 35% in FY2022. This segment is estimated to dominate the ABS market in the forecast period.
Domestic players in the ABS market include Bhansali Engineering and Ineos Styrolution. Other global players in the ABS market include LG Chem, CHIMEI Corporation, Formosa Chemicals and Fiber Corporation, LOTTE Chemical Corporation, Jilin Petrochemical Company, Toray Industries, Tianjin Dagu Chemical Co., Ltd., and Jihua (Jieyang) ABS.
Years considered for this report:
Historical Period: FY2015-FY2022
Base Year: FY2022
Estimated Year: FY2023
Forecast Period: FY2024- FY2035
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Objective of the Study:
• To assess the demand-supply scenario of Acrylonitrile Butadiene Styrene (ABS) which covers production, demand and supply of Acrylonitrile Butadiene Styrene (ABS) market in India.
• To analyse and forecast the market size of Acrylonitrile Butadiene Styrene (ABS) in India.
• To classify and forecast India Acrylonitrile Butadiene Styrene (ABS) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, green field projects/ brown field expansions. mergers & acquisitions, etc., of Acrylonitrile Butadiene Styrene (ABS) market in India.
To extract data for India Acrylonitrile Butadiene Styrene (ABS) market, primary research surveys were conducted with Acrylonitrile Butadiene Styrene (ABS) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for India Acrylonitrile Butadiene Styrene (ABS) market over the coming years.
ChemAnalyst calculated Acrylonitrile Butadiene Styrene (ABS) demand in India by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Acrylonitrile Butadiene Styrene (ABS) to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Acrylonitrile Butadiene Styrene (ABS) manufacturers and other stakeholders
• Organizations, forums and alliances related to Acrylonitrile Butadiene Styrene (ABS) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Acrylonitrile Butadiene Styrene (ABS) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, India Acrylonitrile Butadiene Styrene (ABS) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
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Details
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Market size Volume in FY2022
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250 thousand tonnes
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Market size Volume by FY2035
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540 thousand tonnes
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Growth Rate
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CAGR of 6.37% from FY2023 to FY2035
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Base year for estimation
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FY2023
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Historic Data
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FY2015 – FY2022
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Forecast period
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FY2024 – FY2035
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Quantitative units
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Demand in thousand tonnes and CAGR from FY2023 to FY2035
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Report coverage
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Industry Market Size, Capacity By Company, Capacity by Location, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade
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Segments covered
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By End-Use: (Home Appliances, Electrical & Electronics, Automotive, Building & Construction, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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Northern India, Southern India, Eastern India, Western India
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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