MOSCOW (MRC) -- The global Acrylonitrile Butadiene Styrene (ABS) market is estimated to grow at a CAGR of 5.6% from 2014 to 2019, as per Plastemart.
Asia-Pacific holds a larger share of the ABS market and it is expected to grow at the highest CAGR of 7% in the forecast period.
Transportation is the fastest growing segment that is estimated to grow at the highest CAGR of nearly 4% from 2014 to 2019.
Factors such as growing manufacturing industries and growing automobile sector drive the growth of this market.
The North American ABS market is a competitive market with a number of market players.
As of 2014, ABS market is majorly dominated by SABIC Innovative Plastics Holdings US LP (Saudi Arabia), Styrolution (Germany), Styron LLC (U.S.), Ineos ABS (Switzerland) and BASF (Germany) are the key players.
As MRC reported earlier, Trinseo, the global materials company and manufacturer of plastics, latex and rubber has announced the increase in ABS prices in the Americas. Thus, effective June 1, 2015, or as existing contract terms allow, the company will increase the selling ABS prices in the region, as follows: MAGNUM ABS resins - by USD.05 USD/lb.
This price increase is in response to escalating costs of key raw materials used in the production of ABS. It is in addition to all previously announced increases.
MRC