ABS Alloy Market Fundamental Dynamics & Comprehensive Assessment to 2029 | Detailed Study on Impact of Russia Ukraine War on ABS Alloy Industry
The global ABS alloy market is set to gain traction from its possession of numerous beneficial properties, such as low water absorption, thermal resistance, decent structural stability, corrosion resistance, and high tensile strength. This information is given by Fortune Business Insights™ in an upcoming report, titled, “ABS Alloy Market Size, Share & Industry Analysis, By Product type (Polycarbonate ABS Alloys (PC ABS Alloys), Polyethylene Terephthalate ABS Alloys (PET ABS alloys), Others), By Application (Automotive, Electrical & Electronics, Architectural, Others) and Regional Forecast, 2021-2028.” The report further states that ABS alloys are segregated into polyethylene terephthalate ABS alloys and polycarbonate ABS alloys.
Apart from human lives, the COVID-19 pandemic is impacting the global economy tremendously. Government agencies are implementing lockdown measures to prevent transmission of the coronavirus. International travel has been banned and industrial activities have halted. Only essential services, such as pharmaceuticals and food are under operations. The chemical industry is no exception as it is experiencing labor shortages, reduction in raw material, and government-mandated plant shutdowns. Our reports will help you to overcome this grave situation by adopting certain vital strategies.
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Impact of Russia-Ukraine War Implication
The Russia-Ukraine war could change the market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
How Did We Develop This Report?
Our analysts have conducted both qualitative and quantitative techniques, as well as a blend of primary and secondary sources to collect information. They have taken data from paid databases, press releases, company journals, and other sources to provide a complete picture of the market for food wrapping papers. To derive information about the competitive landscape, such as collaborations, joint ventures, acquisitions, mergers, partnerships, and acquisitions, they have conducted thorough interviews with prominent figures.
Drivers & Restraints-
High Demand from Automotive Industry to Boost Growth
The rising usage of ABS polycarbonate alloys in the automotive industry worldwide is set to propel the ABS alloy market growth in the upcoming years. It has high creep resistance, good dimensional stability, and excellent impact strength. Besides, ABS alloys have showcased enhanced thermal and dielectric control performance. However, these alloys have compatibility issues, which, in turn, may hinder growth.
Rapid Urbanization to Accelerate Growth in Asia Pacific
Geographically, North America is set to hold the largest ABS alloy market share throughout the forthcoming years. This growth is attributable to the high demand from electrical & electronics and automotive industries in the region. On the other hand, Asia Pacific is expected to grow substantially backed by the increasing investments by reputed manufacturers in the automotive sector. At the same time, the high purchasing power of people and rapid urbanization would spur the demand for ABS alloy in this region.
In Europe, the presence of a well-established automobile base would propel growth. Latin America is projected to grow slowly because of the rising availability of alternative products. Also, the industrial sector is not much developed yet in the region. Lastly, the Middle East and Africa is anticipated to exhibit considerable growth fueled by the emergence of new production plants in the region.
Key Players Focus on Launching Innovative Products to Attract More Customers
As ABS alloy is extensively utilized by several automotive manufacturers, they are striving to introduce state-of-the-art vehicles equipped with this material to enhance their performances. Below are the two latest industry developments:
- May 2019: Bajaj Auto introduced the Bajaj Avenger Street 160 ABS. It will replace the Bajaj Avenger Street 180. It features Rear Lift-off Protection, single-channel ABS, new graphics, rubberized rear grab, black alloy wheels, and roadster design headlamp with LED DRLs.
- April 2019: Royal Enfield unveiled the latest machined alloy wheel kit in India for four models, namely, Thunderbird X 500 cc (BSIV), Thunderbird X 350 cc (BSIV), Classic 500 (BSIV), and Classic 350 (BSIV).
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A list of all the renowned ABS alloy manufacturers operating in the global market:
- Lotte Corporation
- Chi Mei Corporation
- Cheil Industries
- Engineering Plastic
- Kumho Petrochemical
- LG Chem
- Sumitomo Corporation
- Other prominent key players
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