Styrene Copolymers (ABS and SAN) Market Size

The styrene copolymers market, encompassing ABS and SAN, is projected to experience significant growth over the forecast period, driven by its extensive applications across various industries such as electrical and electronics, automotive, and building and construction. The electrical and electronics sector stands out as the largest and fastest-growing consumer, spurred by the rising demand for consumer electronics and electrical components. Asia-Pacific leads in market share, attributed to its robust electrical and electronics and automotive industries, while Europe follows as the second-largest market. The versatile properties of styrene copolymers, including impact resistance and flexibility, contribute to their increasing adoption, indicating a positive outlook for the market's expansion.

INSTANT ACCESS

Home Market Analysis Chemicals & Materials Research Plastics, Polymers, and Elastomers Research Styrene Copolymers (ABS and SAN) Market Market Size

Market Size of styrene copolymers (abs and san) Industry

Styrene Copolymers (ABS and SAN) Market Summary
share button
svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 28.86 Billion
svg icon Market Size (2029) USD 42.20 Billion
svg icon Largest Share by End User Industry Electrical and Electronics
svg icon CAGR (2024 - 2029) 7.90 %
svg icon Largest Share by Region Asia-Pacific

Major Players

Styrene Copolymers (ABS and SAN) Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

WHY BUY FROM US?

1. CRISP & INSIGHTFUL
2. TRUE BOTTOM-UP
3. EXHAUSTIVENESS
4. TRANSPARENCY
5. CONVENIENCE
KNOW MORE

Styrene Copolymers (ABS and SAN) Market Analysis

The Styrene Copolymers (ABS and SAN) Market size is estimated at 28.86 billion USD in 2024, and is expected to reach 42.20 billion USD by 2029, growing at a CAGR of 7.90% during the forecast period (2024-2029).

28.86 Billion

Market Size in 2024 (USD)

42.20 Billion

Market Size in 2029 (USD)

3.77 %

CAGR (2017-2023)

7.90 %

CAGR (2024-2029)

Largest Market by End-user Industry

63.30 %

value share, Electrical and Electronics, 2023

Icon image

The segment dominated the market owing to the growing demand from applications such as electronic housing, enclosures, and covers for products, including electronic devices and electrical switches.

Fastest Growing Market by End-user Industry

8.65 %

Projected CAGR, Electrical and Electronics, 2024-2029

Icon image

The segment is expected to witness the fastest growth over the forecast period due to the growing demand for electrical and electronic devices, and the emergence of IoT devices in various fields.

Largest Market by Region

71.08 %

value share, Asia-Pacific, 2023

Icon image

Asia-Pacific is the largest regional consumer of styrene copolymers, in line with being the largest global manufacturer of electrical and electronic devices, with a 74% revenue share.

Fastest Growing Market by Region

9.93 %

Projected CAGR, Africa, 2024-2029

Icon image

Africa is likely to be the fastest-growing regional segment during the forecast period owing to the significant growth of major industries, such as packaging, construction, and electronics.

Leading Market Player

19.13 %

market share, CHIMEI, 2022

Icon image

CHIMEI is the largest producer of styrene copolymer resins, with an annual production capacity of 2.4 million tons. The company's newest production base in China reported an annual production of 450,000 tons in 2021.

Electronics industry dominated the market

  • Styrene copolymers have a wide range of applications in electrical and electronics, automotive, building and construction, and other end-user industries. In 2022, the global styrene copolymers market (ABS and SAN) held a revenue share of 23.61% of overall engineering plastics.
  • The electrical and electronics industry is the largest consumer of styrene copolymers at the global level. The industry is expected to generate a revenue of USD 2.43 billion by 2029, an increase of 50.2% compared to 2023. The growth is attributed to the growing consumer electronics market, which is expected to reach a revenue of USD 1071.0 billion by 2027 from USD 666.0 billion in 2023.
  • The automotive industry is the second-largest consumer of styrene copolymers at the global level. Global automobile production is projected to reach 181 million units in 2029 from 143 million in 2022. Thus, the increasing automobile production is likely to drive the demand for these resins over the forecast period.
  • Building and construction is the third-largest consumer of styrene copolymers at the global level. The rising construction activity is expected to drive the global demand for styrene copolymers in the coming years. For instance, the new construction floor area across the world is projected to reach a volume of 53 billion sq. ft by 2029 from 42 billion sq. ft in 2022.
  • The electrical and electronics industry is the fastest-growing end-user of styrene copolymers, with a CAGR of 8.71% in terms of revenue during the forecast period, owing to the increasing production of electrical components worldwide. The production revenue of electrical and electronics worldwide is expected to reach USD 9147 billion by 2029 from USD 5807 billion in 2022.
Global Styrene Copolymers (ABS and SAN) Market

Asia-Pacific to remain dominant during the forecast period

  • Styrene copolymers exhibit versatile properties like excellent impact resistance, electrical resistance, flexibility, and the ability to withstand several chemicals. They are used in many applications, including electrical, electronics, automotive, and other industries. In 2022, the demand for styrene copolymers increased by 4.2% in terms of value compared to the previous year.
  • Asia-Pacific held the largest market share of 71.09%, recording a growth of 3.08% by value in 2022 compared to the previous year. This growth was due to the growing electrical and electronics and automotive industries, which held 73.70% and 12.84% of the market share, respectively, by revenue. The region's production revenue of electrical and electronic components reached USD 4.3 trillion in 2022. The increasing demand for electrical and electronics is due to the onset of electric vehicles, autonomous robots, and top-secret defense technologies, thereby increasing the demand for styrene copolymers in the region.
  • Europe is the second-largest market for styrene copolymers globally, registering a growth of 6.89% in terms of value in 2022 compared to 2021, led by the electrical and electronics industry. The production revenue of electrical and electronic components accounted for USD 759 billion in 2022, which may reach USD 1,140 billion by 2029. By 2025, the revenue of consumer electronics in the region is expected to grow by USD 240 billion. With an increase in the demand for gaming consoles and other electronic devices due to the growing work-from-home culture and people setting up home offices, the demand for styrene copolymers will likely increase in the future.
  • The global styrene copolymers (ABS and SAN) market is expected to record a CAGR of 7.94% during the forecast period [2023-2029], with the electrical and electronics industry reporting the highest CAGR of 8.70% by revenue.

Styrene Copolymers (ABS and SAN) Industry Segmentation

Aerospace, Automotive, Building and Construction, Electrical and Electronics, Industrial and Machinery, Packaging are covered as segments by End User Industry. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.

  • Styrene copolymers have a wide range of applications in electrical and electronics, automotive, building and construction, and other end-user industries. In 2022, the global styrene copolymers market (ABS and SAN) held a revenue share of 23.61% of overall engineering plastics.
  • The electrical and electronics industry is the largest consumer of styrene copolymers at the global level. The industry is expected to generate a revenue of USD 2.43 billion by 2029, an increase of 50.2% compared to 2023. The growth is attributed to the growing consumer electronics market, which is expected to reach a revenue of USD 1071.0 billion by 2027 from USD 666.0 billion in 2023.
  • The automotive industry is the second-largest consumer of styrene copolymers at the global level. Global automobile production is projected to reach 181 million units in 2029 from 143 million in 2022. Thus, the increasing automobile production is likely to drive the demand for these resins over the forecast period.
  • Building and construction is the third-largest consumer of styrene copolymers at the global level. The rising construction activity is expected to drive the global demand for styrene copolymers in the coming years. For instance, the new construction floor area across the world is projected to reach a volume of 53 billion sq. ft by 2029 from 42 billion sq. ft in 2022.
  • The electrical and electronics industry is the fastest-growing end-user of styrene copolymers, with a CAGR of 8.71% in terms of revenue during the forecast period, owing to the increasing production of electrical components worldwide. The production revenue of electrical and electronics worldwide is expected to reach USD 9147 billion by 2029 from USD 5807 billion in 2022.
End User Industry
Aerospace
Automotive
Building and Construction
Electrical and Electronics
Industrial and Machinery
Packaging
Other End-user Industries
Region
Africa
By Country
Nigeria
South Africa
Rest of Africa
Asia-Pacific
By Country
Australia
China
India
Japan
Malaysia
South Korea
Rest of Asia-Pacific
Europe
By Country
France
Germany
Italy
Russia
United Kingdom
Rest of Europe
Middle East
By Country
Saudi Arabia
United Arab Emirates
Rest of Middle East
North America
By Country
Canada
Mexico
United States
South America
By Country
Argentina
Brazil
Rest of South America
Need A Different Region Or Segment?
Customize Now

Styrene Copolymers (ABS and SAN) Market Size Summary

The Styrene Copolymers (ABS and SAN) market is poised for significant growth, driven by its extensive applications across various industries such as electrical and electronics, automotive, and building and construction. These copolymers are valued for their versatile properties, including excellent impact resistance and flexibility, making them ideal for a wide range of uses. The electrical and electronics sector stands as the largest consumer, with the demand fueled by the burgeoning consumer electronics market. The automotive industry follows closely, with increasing vehicle production boosting the need for these materials. Additionally, the building and construction sector is expected to contribute to market expansion due to rising construction activities globally.

Regionally, Asia-Pacific dominates the market, benefiting from robust growth in the electrical and electronics and automotive industries. The region's substantial market share is attributed to its strong industrial base and the increasing demand for advanced technologies. Europe also represents a significant market, driven by the electrical and electronics sector, with a growing demand for consumer electronics. The market is moderately consolidated, with major players like CHIMEI, Formosa Plastics Group, INEOS, LG Chem, and PetroChina Company Limited leading the industry. Recent developments, such as joint ventures and the introduction of sustainable product lines, indicate ongoing innovation and strategic expansion within the market.

Explore More >

Styrene Copolymers (ABS and SAN) Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Aerospace

      2. 1.1.2 Automotive

      3. 1.1.3 Building and Construction

      4. 1.1.4 Electrical and Electronics

      5. 1.1.5 Industrial and Machinery

      6. 1.1.6 Packaging

      7. 1.1.7 Other End-user Industries

    2. 1.2 Region

      1. 1.2.1 Africa

        1. 1.2.1.1 By Country

          1. 1.2.1.1.1 Nigeria

          2. 1.2.1.1.2 South Africa

          3. 1.2.1.1.3 Rest of Africa

      2. 1.2.2 Asia-Pacific

        1. 1.2.2.1 By Country

          1. 1.2.2.1.1 Australia

          2. 1.2.2.1.2 China

          3. 1.2.2.1.3 India

          4. 1.2.2.1.4 Japan

          5. 1.2.2.1.5 Malaysia

          6. 1.2.2.1.6 South Korea

          7. 1.2.2.1.7 Rest of Asia-Pacific

      3. 1.2.3 Europe

        1. 1.2.3.1 By Country

          1. 1.2.3.1.1 France

          2. 1.2.3.1.2 Germany

          3. 1.2.3.1.3 Italy

          4. 1.2.3.1.4 Russia

          5. 1.2.3.1.5 United Kingdom

          6. 1.2.3.1.6 Rest of Europe

      4. 1.2.4 Middle East

        1. 1.2.4.1 By Country

          1. 1.2.4.1.1 Saudi Arabia

          2. 1.2.4.1.2 United Arab Emirates

          3. 1.2.4.1.3 Rest of Middle East

      5. 1.2.5 North America

        1. 1.2.5.1 By Country

          1. 1.2.5.1.1 Canada

          2. 1.2.5.1.2 Mexico

          3. 1.2.5.1.3 United States

      6. 1.2.6 South America

        1. 1.2.6.1 By Country

          1. 1.2.6.1.1 Argentina

          2. 1.2.6.1.2 Brazil

          3. 1.2.6.1.3 Rest of South America

Styrene Copolymers (ABS and SAN) Market Size FAQs

The Global Styrene Copolymers (ABS and SAN) Market size is expected to reach USD 28.86 billion in 2024 and grow at a CAGR of 7.90% to reach USD 42.20 billion by 2029.

In 2024, the Global Styrene Copolymers (ABS and SAN) Market size is expected to reach USD 28.86 billion.

Styrene Copolymers (ABS and SAN) Market Report Snapshots

Styrene Copolymers (ABS and SAN) Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029