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Alpha Methylstyrene Market
Alpha Methylstyrene Market is projected to be worth USD 496.3 Million by 2028, registering a CAGR of 2.6% during the forecast period (2021 - 2028).
Alpha-methylstyrene Market Overview
Alpha Methylstyrene Market is projected to be worth USD 496.3 Million by 2028, registering a CAGR of 2.6% during the forecast period (2021 - 2028). and rushing demand for Acrylonitrile Butadiene Styrene (ABS) from the electronic and automotive appliances industries is driving the growth of the market across the world and the growing demand for consumer goods from coming out economics acts as an opportunity for the growth of the global market for alpha-methyl styrene. On the basis of use, the abs segment of the market is shown to grow at the compound annual growth rate (CAGR) during the period of forecast in terms of both, value and volume, and the alpha-methyl styrene is mainly used in the production of ABS as it improves the impact resistance and heat stability of ABS resins. Growing demand for ABS resins from different end-use industries, like electronic and automotive uses is fueling the growth of the ABS section of the alpha-methyl styrene market across the world.
Global Alpha-Methylstyrene Market Share, By Application, 2017 (%)
Source: MRFR Analysis
The global alpha-methylstyrene market has been studied across five key regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
North America dominated the global alpha-methylstyrene market in 2017 and is expected to register a significant CAGR in the coming years owing to the increasing use of AMS in the production of wax. The US is expected to be the leading market in the region due to the rising demand for the product in the coatings and adhesives industries. The Asia-Pacific market is expected to exhibit the highest CAGR during the forecast period owing to the growing use of AMS in the plastic and coatings industries. China is expected to be the major contributor to the growth of the regional market followed by Japan, India, and Australia & New Zealand. The European market held a significant market share in 2017 and is estimated to register a strong CAGR during the assessment period due to the growing use of AMS in the production of ABS resin. Germany is expected to be the leading market in the region owing to the presence of major manufacturers, such as Merck KGaA and DOMO Chemicals, followed by France, Spain, the UK, and Italy. The Latin American market held a moderate market share and is projected to exhibit a steady CAGR during the review period owing to the growing demand for the product in the production of adhesives and sealants. Mexico and Brazil are expected to be the major contributors to regional market growth. The Middle East & African market is expected to register a moderate CAGR during the forecast period owing to the increasing use of AMS in the production of plasticizers, used in the construction of skyscrapers. Saudi Arabia, UAE, and Egypt are expected to be the major contributors to the growth of the regional market.
The global alpha-methylstyrene market has been segmented based on purity, application, and region.
On the basis of purity, the global alpha methyl styrene market has been bifurcated into <99% and >99%.
Based on application, the global alpha-methylstyrene market has been classified into resins, plasticizer, adhesives, waxes, coatings, chemical intermediate, finishing agents, and others. Under the resin segment, the global alpha-methylstyrene market has been further segmented into acrylonitrile-butadiene-styrene (ABS), polyester, and alkyd.
By region, the global alpha-methylstyrene market has been studied for five key regions —Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
Some of the key players operating in the global alpha-methylstyrene market are Solvay (Belgium), INEOS (UK), Honeywell International Inc. (US), SI Group, Inc. (US), Altivia (US), Mitsubishi Chemical Corporation (Japan), DOMO Chemicals (Germany), Sunoco Chemicals (US), Merck KGaA (Germany), Prasol Chemicals Pvt Ltd (India), The Plaza Group (US), and Banner Chemicals Limited (UK).Recent DevelopmentThe market for alpha-methyl styrene has been divided into assays above 99.5% and between 95% and 99.5%, based on purity, and assays above 99.5% section are aimed to lead the market during the period of forecast in terms of both, value and volume. This section is also projected to increase at a higher compound annual growth rate than the between 95% to 99.5% section from 2019 to 2024 in terms of both, value and volume. The world industrial standard for the purity of alpha-methyl styrene is 98.5%, and most of the manufacturers of alpha-methyl styrene across the world produce that having a purity of 98.5% and above. The largest market for this product is estimated to be the Asia Pacific region in 2019.
- Benzene and Cumene Manufacturers
- AMS Manufacturers
- Distributors and Suppliers of AMS
- Potential Investors
- Research Institutes
- Government Bodies
| Market Size
||2028: USD 478.2 Million
| Base Year
| Forecast Period
|| 2022 to 2030
| Historical Data
|| 2019 & 2020
| Forecast Units
|| Value (USD Million)
| Report Coverage
|| Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
| Segments Covered
|| By Purity, Application and Region
| Geographies Covered
|| North America, Europe, Asia-Pacific, and Rest of the World (RoW)
| Key Vendors
|| Solvay (Belgium), INEOS (UK), Honeywell International Inc. (US), SI Group, Inc. (US), Altivia (US), Mitsubishi Chemical Corporation (Japan), DOMO Chemicals (Germany), Sunoco Chemicals (US), Merck KGaA (Germany), Prasol Chemicals Pvt Ltd (India), The Plaza Group (US), and Banner Chemicals Limited (UK).
| Key Market Opportunities
|| The growing emphasis of manufacturers on R&D to enhance the manufacturing process of AMS is also likely to offer immense growth opportunities
| Key Market Drivers
|| The growing adoption of the product in the manufacturing of ABS resin is expected to be the major factor driving the growth
Frequently Asked Questions (FAQ) :
The alpha-methylstyrene market is projected to grow at a 4.6% CAGR between 2016-2023.
The alpha-methylstyrene market is predicted to touch USD 478.2 million by 2023.
North America is expected to dominate the alpha-methylstyrene market.
Increasing use in auto industries and rising government investments are adding market growth.
Highly inflammable and volatile raw material costs may limit market growth.
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