MABS Resin Market Size, Share, Analysis, Trends, Growth Report, 2030

MABS RESIN Industry Perspective:    

The global MABS Resin market size was worth around USD 431 million in 2022 and is predicted to grow to around USD 509 million by 2030 with a compound annual growth rate (CAGR) of roughly 2.1% between 2023 and 2030.

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The report analyzes the global MABS Resin market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the MABS Resin industry.           

MABS RESIN Market: Overview

The clear engineering and commercial thermoplastic methyl methacrylate-acrylonitrile-butadiene-styrene (MABS), commonly known as transparent ABS, has rubber particles scattered throughout an MMA-SAN polymer matrix. While ordinary ABS is opaque, the addition of rubber particles to an MMA-SAN matrix and compositional adjustment provides an extremely clear polymer. This amorphous, translucent, engineering-grade thermoplastic is clear, rigid, and transparent, and it resists numerous solvents well while still having great impact strength.

Additionally, it is simple to produce using common tools like extrusion and injection molding, and it is simply colorable. MABS may be utilized to produce spectacular visual effects that are remarkable, such as colors that are bright and vibrant or that glitter or pearl. The consumer products, automotive, packaging, home appliances, and kitchenware sectors all utilize MABS extensively. Transparent and durable toys, bathroom & kitchenware, (computer) housings & coverings, bags, and cosmetic packaging are only a few examples of important applications. The MABS resin market is being driven by numerous factors including the growing automotive industry, growing consumer goods industries, increasing R&D, and rising packaging industries.

Key Insights

• As per the analysis shared by our research analyst, the global MABS Resin market is estimated to grow annually at a CAGR of around 2.1% over the forecast period (2023-2030).
• In terms of revenue, the global MABS Resin market size was valued at around USD 431 million in 2022 and is projected to reach USD 509 million, by 2030.
• The growing automotive sector is expected to drive the MABS resin market over the forecast period.
• Based on the type, the general purpose grade is expected to hold the largest market share over the forecast period.
• Based on the application, the automotive segment is expected to capture a significant market share over the forecast period.
• Based on region, the Asia Pacific is expected to dominate the market over the forecast period.

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MABS Resin Market: Growth Drivers

Growing demand from the automotive industry drives the market growth

Transparent ABS is becoming more and more popular in the automotive sector due to its higher strength, appealing color, and lightweight vehicles. Among other things, ABS is used in wheels, industrial machinery, and other automobile applications. According to the International Trade Administration (ITA), China is the world's largest auto market and the Chinese government projects that by 2025, 35 million cars will be built there. According to Invest in India, annual sales of electric cars would increase to USD 6.34 million by 2027, expanding at a CAGR of 44%. Due to the need for more automotive parts as a consequence of more automated production, the MABS resin market will see growth throughout the projected period.

MABS Resin Market: Restraints

The high cost of MABS restricts the market growth

MABS resin may be more expensive than other popular plastics like ABS (Acrylonitrile Butadiene Styrene), polycarbonate (PC), polypropylene (PP), and polyethylene terephthalate (PET) since it uses acrylonitrile, a petrochemical waste. The selection of material is frequently influenced by the demands of a certain application and financial constraints. The higher price may limit its use in applications with high price thresholds. Therefore, the high cost of MABS resin might be hampering the MABS resin industry growth over the forecast period.

MABS Resin Market: Opportunities

Increasing the electrical and electronics sector offers a significant opportunity

In daily life, transparent ABS materials are widely utilized in computers and office equipment. By improving the end-user product's resilience to impact, processability, surface quality, chemical resistance, and anti-corrosion properties, the growth of the MABS resin market is projected throughout the predicted period. MABS resins are mixed with other polymers to generate a range of alloys for the consumer electronics industry, such as polycarbonate (PC)-acrylonitrile butadiene styrene. The Ministry of Commerce & Industry projects that by 2025, the Indian electronics market, which has grown at a CAGR of 14% from 2016 to 2019, would generate USD 1 trillion in sales. The rising consumer demand for electronics boosts the global MABS industry.

MABS Resin Market: Challenges

Volatility in raw material prices poses a major challenge to the market growth

Costs of raw ingredients like methacrylate and acrylonitrile, which are used to make MABS resin, might affect the price of the resin. Fluctuations in the price of raw materials may have an impact on the finished product's total cost, making it less predictable for producers and consumers. For instance, the National Bureau of Statistics reports that the Purchasing Manager Index marginally fell in March from 52.6 to 51.9 as a result of a more gradual increase in output. As a result, during the week ending March 31st, the price of methyl methacrylate was estimated to be USD 1499/MT with a weekly increase of USD 35/MT.

MABS Resin Market: Segmentation

The global MABS Resin industry is segmented based on type, application, and region.

Based on the type, the global market is bifurcated into general purpose grade, high impact grade, high rigidity grade, and others. The general purpose grade is expected to hold the largest MABS resin market share over the forecast period. The most often utilized grade of MABS resin is the general purpose grade because of its well-balanced characteristics and affordability. It is ideal for a variety of applications because it provides an excellent balance of impact resistance, stiffness, and processability.

The general-purpose grade MABS is used in various industries including consumer electronics, automotive, and others. In the consumer electronics industry, these resins are used in the production of casings of electronic devices such as computer peripherals, mobile phones, and others. Whereas, in the automotive sector, this resin is utilized in automotive parts like dashboard components, door handles, and others owing to its impact resistance and appearance qualities. Thus, the wide application of general purpose grade is expected to drive market expansion over the forecast period.

Based on the application, the global MABS Resin industry is divided into the appliance industry, consumer electronics, automotive, packaging, construction, 3c products, toys, medical industry, furniture, and others. The automotive segment is expected to capture a significant market share over the forecast period. The growth is attributed to the increase in the automotive industry and the growing application of MABS resin in different automotive parts.

For instance, according to the Society of Indian Automobile Manufacturers, a total of 38,90,114 passenger vehicles were sold overall, up from 30,69,523. In comparison to the prior year, sales of Passenger Cars climbed from 14,67,039 to 17,47,376, Utility Vehicles from 14,89,219 to 20,03,718 and Vans from 1,13,265 to 1,39,020 units in FY-2022–23. Sales of commercial vehicles as a whole went up from 7,16,566 to 9,62,468 units. In comparison to the prior year, sales of Light Commercial Vehicles climbed from 4,75,989 to 6,03,465 units while those of Medium and Heavy Commercial Vehicles increased from 2,40,577 to 3,59,003 units. Thus, this is expected to drive segment expansion over the forecast period.

MABS Resin Market: Report Scope

MABS Resin Market: Regional Analysis

The Asia Pacific is expected to dominate the market during the forecast period

The Asia Pacific is expected to dominate the global MABS resin market during the forecast period. The market growth in the region is attributed to the growing automotive, electronics, construction, and others. For instance, according to information from the Ministry of Industry and Information Technology, approximately 26 million vehicles, including 21.48 million passenger cars, were sold in 2021, an increase of 7.1% from the previous year. Sales of commercial vehicles totaled 4.79 million, a 6.6% decrease from 2020. Moreover, according to figures from the China Association of Automobile Manufacturers (CAAM), Chinese automakers manufactured 27.02 million vehicles in 2022, up 3.4% from the previous year, while sales increased by 2.1% to 26.86 million units.

On the other hand, North America is expected to show a considerable market share over the forecast period. The growth in the region is attributed to the well-developed medical industry. For instance, according to secondary analysis, the overall cost of healthcare in the United States in 2020 was $3.8 trillion, or 19.7% of GDP. In 1980, 40 years prior, it made up just over 8% of GDP. Total spending is expected to reach $4.3 trillion by 2023 and reach over $6.2 trillion by 2028. Thus, the aforementioned facts support the market growth over the forecast period.

MABS Resin Market: Competitive Analysis

The global MABS Resin market is dominated by players like:

• Distrupol
• TORAY INDUSTRIES INC.
• CHIMEI
• INEOS Styrolution Group GmbH
• Amco Polymers
• Entec Polymers
• Purolite
• BASF
• Lg Chem
• Denka
• Chi Mei Corporation
• Formosa Chemicals and Fibre
• Techno-Umg
• Ter Plastics Polymer Group
• NIPPON A&L

The global MABS Resin market is segmented as follows:

By Type

• General Purpose Grade
• High Impact Grade
• High Rigidity Grade
• Others

By Application

• Appliance Industry
• Consumer Electronics
• Automotive
• Packaging
• Construction
• 3C Products
• Toys
• Medical Industry
• Furniture
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa