The global alpha-methylstyrene market is anticipated to reach a value of USD 608 million by 2028. The global market for Acrylonitrile Butadiene Styrene (ABS) is expanding due to rising demand from the automobile and electronic appliance industries. The global growth of the alpha-methylstyrene industry is being aided by rising demand for consumer products from developing economies. Increased demand from emerging economies such as China and India is expected to drive growth in Alpha Methyl Styrene use. Since alpha methyl styrene is primarily used in the production of ABS resin, rising demand from end-use industries is projected to propel the global alpha methyl styrene market forward during the forecast period.
The global Alpha Methyl Styrene market is expected to rise due to rising demand from the chemicals industry, where alpha methyl styrene is used as an intermediate. However, slower economic growth in major markets around the world is expected to stifle the global Alpha Methyl Styrene market's growth over the same time. The global alpha methyl styrene market is being driven by an increase in demand for plasticizers, wax, coatings, and adhesives in the automotive industry. Furthermore, as the automobile and electronics industries continue to expand, demand for acrylonitrile butadiene styrene (ABS) resins is increasing, so is demand for alpha methyl styrene.
Alpha-Methylstyrene Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 608 million|
|Segment Covered||Purity, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East & Africa|
|Key Players Profiled||INEOS Group Holding S.A. (Switzerland), AdvanSix (US), Rosneft (Russia), Altivia Corp. (US), SI Group Inc. (US), DOMO Chemicals (Belgium), Kumho P&B Chemicals (South Korea), Taiwan Prosperity Chemical Corp. (Taiwan), Yangzhou Lida Chemicals (China), Mitsubishi Chemical Corporation (Japan), Solvay SA (Belgium), and Mitsui Chemicals, Inc. (Japan)|
Key Segments of the Global Alpha-Methylstyrene Market
Purity Overview, 2018-2028 (USD Million) (Kilo Tons)
- Assay above 99.5%
- Between 95% to 99.5%
Application Overview, 2018-2028 (USD Million) (Kilo Tons)
- Acrylonitrile Butadiene Styrene (ABS)
- Adhesives & Coatings
Regional Overview, 2018-2028 (USD Million) (Kilo Tons)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global alpha-methylstyrene market.
- Alpha-Methylstyrene is widely used for various end uses in adhesives & coatings, owing to their excellent properties and the market is expected to gain traction over the coming years
- With the growing wax & ABS uses, there is a rise in the demand for alpha-methylstyrene which is further expected to have a positive impact on the overall market growth
What does the report include?
- The study on the global alpha-methylstyrene market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the alpha-methylstyrene industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on Purity and Application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global alpha-methylstyrene market. The report will benefit: Every stakeholder involved in the alpha-methylstyrene market.
- Managers within the alpha-methylstyrene industry looking to publish recent and forecasted statistics about the global alpha-methylstyrene market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global alpha-methylstyrene market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
C6H5C(CH3)CH2 is the molecular formula of an organic compound as alpha methyl styrene. Isopropenyl benzene is another name for it. The odour of this clear, colorless organic compound is very powerful. The chemical is generated by partial oxidation of cumene and is a by-product of the cumene-phenol process, which involves the production of phenol and acetone from benzene. The global capacity for alpha methyl styrene processing is closely linked to the global capacity for phenol manufacture. Plastics, adhesives, and additives are just a few of the uses for alpha methyl styrene. Alpha methyl styrene is used to make resins like ABS in the plastics industry.
When used in the manufacturing of ABS resin, alpha methyl styrene imparts a greater heat stability as well as a higher impact resistance to the resin than styrene. Additionally, alpha methyl styrene is used as a rubber additive. Alpha methyl styrene is often used in the production of lubricating oils, perfumes, and plasticizers, among other things. Alpha methyl styrene (AMS), also known as isopropyl benzene, is a colorless liquid with a strong odor that is used as a co monomer in various polymerisation processes to increase product effect and heat tolerance. These are produced as a byproduct of the cumene oxidation phenol production method.
It is purified by continuous distillation at low pressure to remove impurities such as cumene, phenol, and butyl benzene. Companies like UOP and Kellogg recycle the process by hydrogenation to make it more cost effective. It copolymerizes readily with monomers including acrylates and benzene. Its cost is determined by benzene market patterns. Bisphenol and polycarbonate products are increasing in popularity, with a growth rate of above 6%. These are obtained as a byproduct of phenol production, and their supply has increased as phenol production capacity has increased. AMS is favoured to styrene because it is more heat stable and impact resistant.
Based on the purity, the market is segmented into assay above 99.5%, and between 95% to 99.5%. The assay above 99.5% segment is projected to grow at a higher CAGR in the market over the forecast period. 98.5 percent purity is the global industrial benchmark for alpha-methylstyrene. The majority of alpha-methylstyrene factories around the world produce alpha-methylstyrene with a purity level of 98.5 percent or higher. The assay above 99.5 percent segment of the market is expected to rise due to rising demand for alpha-methylstyrene with purity above 99.5 percent for use as a heat stabilizer for ABS, as a solvent in the plastics industry, and as a pigment and paint adhesive agent in adhesives & coatings, waxes, and tackifier.
In terms of the module design segment, the market is segmented into ABS, Para-Cumylphenol, Adhesives & Coatings, Waxes and Others. In 2020, the ABS segment has the fastest growth in the market in 2019 and the market is forecasted to grow with the significant rate of above 4% CAGR over the forecast period. ABS resins benefit from the addition of alpha-methylstyrene because it increases thermal resilience and impact tolerance. The ABS segment of the alpha-methylstyrene industry is growing due to increased demand for ABS resins from various end-use industries such as automotive and electronic appliances.
The Asia Pacific region has the largest share in market with a CAGR of more than 35.2% in 2019 and is anticipated to continue with the same position during the forecast years 2018-2028. In 2019, the China is projected to hold the majority share of Asia Pacific demand for alpha-methylstyrene. The growing demand for alpha-methylstyrene from heavily populated countries such as India and China is due to the consumer and economic growth in the Asia Pacific region. Increased demand for consumer durables and vehicles in Asia Pacific has been fueled by innovations in electronic appliance manufacturing techniques, demographic growth, and rising middle-class wages, all of which have contributed to the region's alpha-methylstyrene industry growth.
The major players of the global alpha-methylstyrene market are INEOS Group Holding S.A. (Switzerland), AdvanSix (US), Rosneft (Russia), Altivia Corp. (US), SI Group Inc. (US), DOMO Chemicals (Belgium), Kumho P&B Chemicals (South Korea), Taiwan Prosperity Chemical Corp. (Taiwan), Yangzhou Lida Chemicals (China), Mitsubishi Chemical Corporation (Japan), Solvay SA (Belgium), and Mitsui Chemicals, Inc. (Japan). The alpha-methylstyrene market consists of top, medium level and a number of domestic players in the global market. In addition to this, the well-established players in the industry have made various strategies and research & developments to compete with other players in the regional and global market.