Asia will lead the growth of global ABS production capacity by 2024

GlobalData said that by 2024, global acrylonitrile-butadiene-styrene (ABS) production capacity is expected to increase by 19%, from 11.36 million tons/year in 2019 to 13.49 million tons/year.

GlobalData's report "Global Acrylonitrile Butadiene Styrene (ABS) Industry Outlook to 2024-Detailed Capacity and Capital Expenditure Forecasts for All Operating and Planned Plants" shows that Asia is leading the way in ABS capacity increase , Increasing from 9.21 million tons/year in 2019 to 19.99 million tons/year in 2024, with an average annual growth rate (AAGR) of 3.5%. Through 6 new expansion projects, it is estimated that the newly expanded ABS production capacity will reach 1.78 million tons/year.

GlobalData said that in terms of capacity increase, India is the country with the second highest increase in Asia, increasing from 210,000 tons/year in 2019 to 320,000 tons/year in 2024, with an AAGR of 8.0%. By 2024, the capacity of Ineos Styrolution India's Dahej ABS plant will increase by 70,000 tons/year.

Malaysia will be the country with the third highest capacity increase in the region, increasing from 350,000 tons/year in 2019 to 430,000 tons/year in 2024. By 2024, Toray Industries' Prai ABS plant will have a production capacity of 80,000 tons per year.