The global acrylonitrile butadiene styrene market share is projected to reach USD 42,809.5 million by 2027, exhibiting a CAGR of 6.9% during the forecast period. The phenomenal growth in the global construction industry will be a prime growth driver for this market, states Fortune Business Insights™
The construction industry has entered a phase of prolific expansion due to the rapid growth in world population and the proliferation of residential and commercial spaces in urban areas. According to a study by Oxford Economics and Global Construction Perspectives, the volume of construction output is slated to grow by 85%, hitting a value of USD 15.5 trillion by 2030. Led by construction activities in China, India, and the US, Oxford Economics, in a recent report predicted that even amid the COVID-19 pandemic, the construction industry will rise by 35% and reach USD 5.8 trillion by 2030. Acrylonitrile butadiene styrene (ABS), a versatile thermoplastic, is known for its structural sturdiness, superior impact strength, resistance to corrosive chemicals, and excellent mechanical and insulating properties, making it an essential component in the construction of buildings. Thus, as construction activities surge around the world, the demand for ABS is likely to remain steady over the forecast period.
Information Source:
https://www.fortunebusinessinsights.com/acrylonitrile-butadiene-styrene-abs-market-104538
