ID: MRFR/CnM/6061-HCR | February 2021 | Region: Global | 140 pages
According to MRFR analysis, Global Alpha Methylstyrene Market is estimated to reach USD 478.2 million by the end of 2025 at a healthy CAGR of 4.6%. Alpha-methylstyrene (AMS), with CAS No:98-83-9, is a colorless organic liquid with a strong aromatic odor. This compound is produced by partial oxidation of cumene. It is obtained as a by-product in the cumene-phenol manufacturing process. It is insoluble in water and offers better stability and handling properties than styrene. It can easily be copolymerized with monomers such as styrene, acrylates, and benzene. It is largely used in the production of acrylonitrile-butadiene-styrene (ABS) resin by preventing heat distortion.
The growing adoption of the product in the manufacturing of ABS resin is expected to be the major factor driving the growth of the global market in the coming years. In addition, the rising demand for AMS in automobile and protective gear manufacturing is also likely to favor the market growth during the review period. Stringent government regulations regarding environmental safety have led the manufacturers to reduce the overall weight of automobiles, which is expected to boost the demand for AMS. Increasing investments by the governments and private firms across the globe to produce lightweight solutions to be used in automobile manufacturing is projected to create lucrative opportunities for the market players during the review period. Furthermore, the growing emphasis of manufacturers on R&D to enhance the manufacturing process of AMS is also likely to offer immense growth opportunities to the manufacturers operating in the global alpha-methylstyrene market.
However, fluctuating raw material prices is expected to hinder global market growth in the coming years. Also, it is highly flammable, and on burning releases toxic gases such as carbon dioxide, which increases greenhouse gases.
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-methylstyrene 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).
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.