Is Acrylonitrile Butadiene Styrene (ABS) Market In India Showing Positive Signs?

Popularly known as ABS, acrylonitrile butadiene styrene a blend of styrene-acrylonitrile copolymer (SAN), is a popular thermoplastic polymer recognized for its superior surface finish, vividness, and lustre. This remarkable material offers the perfect combination of resilience, heat tolerance, chemical resistance, and scratch-proof qualities, alongside its dimensional consistency, strength, hardness, rigidity, and electrical properties. Even in frigid climates, ABS remains robust, rigid, and durable, available in fire-retardant, heat-resistant, and palatable varieties.

In this article, we will explore the situation of the ABS market in India, its market outlook, the top ABS manufacturers in India and a lot more.

Market Highlights

·       Market Share- In the fiscal year 2022, the ABS market in India has reached approximately 250 thousand tons and is projected to grow at a CAGR (Compound Annual Growth Rate) of 6.37% until the fiscal year 2035. 

·  Demand – The demand for ABS in India is mainly driven by its broad range of applications in various industries, including consumer products, electronic housing, auto parts, pipe fittings, toys, and Lego bricks, among others. ABS is an amorphous polymer and impact-resistant engineering thermoplastic composed of acrylonitrile, butadiene, and styrene.

·   ABS Manufacturers – Bhansali Engineering and Ineos Styrolution are the top ABS manufacturers in India that dominate the market with a combined capacity of around 360KTA, contributing to approximately 75% of the overall demand.

·   ABS Imports – Imports from nations such as China and South Korea fulfil the rest of the Indian ABS market demand. Prominent players in the industry include LG Chemical, SABIC, Lotte Chemical Corp., Toray Industries Incorp., Chi Mei Corp., Samsung SDI Chemicals, Formosa Plastic Group, China National Petroleum Corp., The Dow Chemical Company, and JSR Corp.

Government’s Support And Market Growth

The Indian government has taken various initiatives to promote the domestic production of consumer goods and feedstock, which is expected to benefit ABS manufacturers in the coming years. The extensive application of ABS in the manufacture of inhalers and other medical devices is forecasted to be a promising area that will drive the Indian ABS market forward. This growth is expected to result in increased revenue and investment opportunities for the Indian ABS market players, as well as a positive impact on the overall Indian economy.

OFB’s Insight

The ABS market in India has witnessed substantial growth in recent years, and it is projected to continue to expand in the future, mainly driven by the increasing demand from various industries. The dominance of Bhansali Engineering and Ineos Styrolution in the market, along with the presence of other key players, is expected to intensify the competition among them, resulting in increased investments in the Indian ABS market. Overall, the growth of the ABS market in India, driven by government initiatives and increasing demand from end-user industries, is expected to have a positive impact on the Indian economy which is expected to provide employment opportunities and contribute to the country’s economic development.

Read more: Do Mulch Films Really Increase Crop Yields?

For real time commodity prices, latest news, and insights, please download the all NEW and all FREE OfBusiness APP.