Sub-Saharan Africa Acrylonitrile-butadiene-styrene Market Size Forecast to Reach US$206.4 Million by 2026
Sub-Saharan Africa acrylonitrile-butadiene-styrene Market size is forecast to reach US$206.4 million by 2026, after growing at a CAGR of 2.6% during 2021-2026. Acrylonitrile-butadiene-styrene (ABS) is one of the best thermoplastic polymer ideal for probable nanoporous material preparations in energy conversion and storage units due to its high moulding behavior. The major factor driving the market growth is the rising demand for lightweight automobiles, which help to reduce fuel consumption. Furthermore, lowering the weight of a vehicle helps to reduce carbon dioxide emissions. This will assist in resolving the issues associated with environmental degradation. Rising demand for electrical and electronic applications, as well as developing industry and construction activity, all contribute to a positive market outlook. However, the generation of ultrafine particles at low temperatures while printing with ABS have been a source of concern, as UFPs has been related to negative health impacts.
Impact of Covid-19
Impact of Covid-19The coronavirus pandemic has a significant impact on the polymer sector, causing manufacturing and other trade activity to temporarily halt. Due to the drop in demand from consumers and other end-use industries as a result of the pandemic’s industrial halt, economies have suffered further declines, resulted in unprecedented disruptions in the polymer supply chain. Lockdowns in a number of major economies have a considerable influence on the trading and distribution activities of a number of manufacturing enterprises, influencing raw material and final goods pricing. However, in the projected period due to the significant demand for acrylonitrile-butadiene-styrene in the Sub-Saharan Africa region for various applications, the market is anticipated to be stabilized.
Sub-Saharan Africa Acrylonitrile-Butadiene-Styrene Market Segment Analysis – By Application
Consumer appliance sector held the largest share in the Sub-Saharan Africa acrylonitrile-butadiene-styrene market in 2020 and is anticipated to grow at a CAGR of 2.1% during the forecast period 2021-2026. Microwave ovens, dryers, toasters, vacuum cleaners, washing machines, and refrigerators are among the many appliances that use ABS. The industry is primarily driven by the increasing number of appliance assembly plants, notably in the African region. The growing need for lightweight products is driving the demand for acrylonitrile-butadiene-styrene in Sub-Saharan Africa. Furthermore, the rising sales of consumer appliances with the significant rise in the per-capita income of the middle-class population is estimated to surge the Sub-Saharan Africa acrylonitrile-butadiene-styrene market growth in the forecast period.
Sub-Saharan Africa Acrylonitrile-Butadiene-Styrene Market Segment Analysis – By Geography
South Africa dominated the Sub-Saharan Africa acrylonitrile-butadiene-styrene market with a share of 35% in 2020 and is projected to dominate the market during the forecast period (2021-2026). The demand for acrylonitrile-butadiene-styrene in Sub-Saharan Africa region has benefited significantly from the growth of the automotive, construction, consumer appliances, and electrical & electronics sectors. Rising investments in the automotive industry have further uplifted the demand for acrylonitrile-butadiene-styrene. For instance, in February 2021, Ford Motor Company announced a US$1.05 billion (R15.8 billion) investment within the South African manufacturing facilities. It is one of the largest-ever investments in the South African automotive sector, bolstering Ford’s manufacturing capacity. In addition, the rising growth of new electrical & electronics plants in the South African region has further uplifted the market’s growth. For instance, in April 2021, Samsung announced building a US$ 375 million manufacturing facility in Durban, South Africa. Thus, with the inclining growth of end-use industries in several countries of the Sub-Saharan Africa region, the market for acrylonitrile-butadiene-styrene is also estimated to rise over the forecast period.
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Sub-Saharan Africa Acrylonitrile-Butadiene-Styrene Market Drivers
Increasing usage of acrylonitrile-butadiene-styrene in automotive will drive Market Growth
Acrylonitrile-butadiene-styrene (ABS) is a high-performance thermoplastic polymer that is widely preferred in the automotive industry. ABS is used in various applications in the automotive industry, including the production of high-quality automotive instrument panels, door liners and handles, dashboard components, seatbacks, and seat belt components, among others. ABS is a cheaper type of plastic than metals and helps automobiles save energy by reducing weight and providing durability, resilience, corrosion resistance, design flexibility, toughness, and high performance at a low cost. Currently, the rising automotive production is primarily driving the demand for acrylonitrile-butadiene-styrene in the Sub-Saharan Africa region. For instance, according to the Organization Internationale des Constructeurs d’Automobiles (OICA), the production of motor vehicles in South Africa increased from 610 854 units in 2018 to 631 983 units in 2019. Also, according to the International Trade Administration, the total production of automotive in Nigeria increased from USD 200,000 thousand in 2018 to USD 220,000 thousand in 2019. As a result, the increasing use of acrylonitrile-butadiene-styrene with the rising automotive production is projected to enhance the market’s growth over the forecast period.
The establishment of new electrical & electronic plants in the Sub-Saharan Africa region is estimated to drive the demand for acrylonitrile-butadiene-styrene
In the Sub-Saharan Africa region, acrylonitrile-butadiene-styrene (ABS) is increasingly used to make enclosures for electrical assemblies. ABS provides several benefits, including improved flame resistance, structural strength, and flexibility. It is used in various formulations to provide impact resistance, toughness, and resistance to mixed corrosive media, including water, salts, food acids, inorganic acids, and alkali. As a result, it is also the preferred material for most electrical insulating applications. The acrylonitrile-butadiene-styrene thermoplastic polymer is most frequently used to make keyboards in electronic devices such as PCs and laptops. The rising growth of the new electronic plant will drive the market growth. For instance, in January 2020, Telone has opened its first manufacturing facility for laptops, desktops, and tablets In Zimbabwe. Also, in May 2020, Panasonic established an electronic assembly plant in Nigeria. Thus, new electrical & electronic plants in the Sub-Saharan Africa region have raised the demand for acrylonitrile-butadiene-styrene.
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Sub-Saharan Africa Acrylonitrile-Butadiene-Styrene Market Challenges
Rising Growth of Alternatives is affecting the growth of the market
Various end-use sectors have seen a significant increase in demand for acrylonitrile butadiene styrene. However, this has resulted in the development and introduction of market substitutes. SBR (styrene-butadiene rubber) is one of these replacements, and it serves as a market restraint. SBR has rubber qualities, such as excellent abrasion resistance, which are important in tire manufacture and other vehicle parts. Also, Styrene-butadiene rubber outperforms acrylonitrile-butadiene-styrene (ABS), in terms of strength, abrasion resistance, and blend compatibility. The addition of chemicals improves these qualities even more. Furthermore, Tires and tire products, automobile parts, and mechanical rubber items are the major applications for styrene butadiene rubber. As a result, the rising growth of alternatives may stymie the growth of the Sub-Saharan Africa acrylonitrile-butadiene-styrene market.
Sub-Saharan Africa Acrylonitrile-Butadiene-Styrene Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Sub-Saharan Africa acrylonitrile-butadiene-styrene market. Major players in the Sub-Saharan Africa acrylonitrile-butadiene-styrene market include:
Sabic
Ineos Styrolution Group GmbH
Trinseo
Chei Mei Corporation
Ashland Inc
Covestro
Styrolution Group
CCP Composites
Styron
Teijin and others.
Key Takeaways
South Africa dominated the Sub-Saharan Africa acrylonitrile-butadiene-styrene market owing to the rising growth of the automotive, electrical and electronics, construction, and other end-use industries in the country.
Increasing demand for acrylonitrile-butadiene-styrene because of its high mechanical strength and light weight in the vacuum construction of pipes and fittings is estimated to drive the market growth.
Additionally, increased demand for electrical and electronics with design flexibility, attractive appearance features, and corrosion resistance would boost the market value of acrylonitrile butadiene styrene in the projected period.
In Sub-Saharan Africa region, consumer demand for lightweight automobiles has prompted automotive industry innovation, which is further estimated to propel the acrylonitrile-butadiene-styrene market forward.
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