Market demand expands ABS scale will continue to expand in the future
2023/8/7
The ABS market will continue to grow in 2023
With the growth of global automobile sales, automakers have increasingly urgent demands for lightweight materials. ABS material has been widely used in the manufacture of auto parts due to its relatively low density and excellent strength characteristics. It is expected that the demand for the ABS market in the automotive industry will continue to grow in the next few years, driving the continuous expansion of the market size.
ABS material, as a material with both plasticity and good flame retardancy, is widely used in construction fields, such as window frames and pipes. In view of this trend, the demand for the ABS market in the construction industry is expected to maintain steady growth in the coming years. The 2023-2028 China ABS Industry Market Supply and Demand and Key Enterprise Investment Evaluation Research and Analysis Report pointed out that in March 2023, the price of rubber and plastic bulk commodity ABS was 11,737.5 yuan/ton, a year-on-year decrease of 21.22% and a month-on-month decrease of 0.81%; Looking at the price of bulk commodity ABS on Friday, the price fluctuated between 11737.5-11833.33 yuan/ton, and fell to the lowest value on March 31; the price of rubber and plastic bulk commodity ABS in 2018-2022 will decline year by year from 2020.
Analysis of the ABS market size in 2023: China's ABS market price fell by 21.22% year-on-year in March
Recession or financial crisis may lead to a drop in investor confidence, thereby dampening the growth of the ABS market. Second, issues such as market manipulation, improper disclosure, and information asymmetry may also trigger investor concerns and risks. Therefore, maintaining transparency and regulatory compliance is crucial to maintaining the stability and sustainable development of the ABS market.
The ABS market is expected to further expand
The ABS market is expected to expand further. The market has gradually covered various industries, including automobile manufacturing, electronic products, construction materials and other fields. At the same time, because ABS has excellent physical properties and good durability, more and more enterprises begin to apply it in product design and manufacturing to improve product performance and competitiveness.
In the Asia-Pacific region, countries such as China, India, and Japan are the major consumers in the ABS market. Especially in China, as one of the world's largest plastic manufacturing and consuming countries, China's ABS market has exceeded 2 billion US dollars and continues to grow. With the rapid economic development and increasing demand for high-quality plastic products in the Asia-Pacific region, the size of the ABS market in the Asia-Pacific region is expected to expand further.
To sum up, the size of the ABS market has reached billions of dollars and will continue to maintain a strong growth trend. Demand from the automotive manufacturing and construction industries will be the main growth drivers. We expect that with the continuous innovation of technology and the continuous expansion of market demand, the size of the ABS market will continue to expand in the next few years.
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