Alpha-Methyl Styrene Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

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Alpha-Methyl Styrene Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : January, 2023 | Chemical & Materials

Report Digest

Alpha-Methylstyrene Market: Introduction

Alpha-Methylstyrene is an intermediate that has wide range of applications in the manufacturing of plasticizers, polymers, and resins. Alpha-Methylstyrene is known for its ability to enhance the property of styrene-based polymers. Market players are looking forward to produce styrene-based products using alpha- Methylstyrene due to its properties such as heat resistance over styrene. Moreover, alpha-methyl styrene gains the upper hand over styrene on handling and stability of the products. Significant changes in the production process of alpha-Methyl styrene is observed as a recent trend that is propelling the demand side of the supply chain. Increasing usage of alpha-methylstyrene due to its competitive properties is expected to increase the demand from various sectors such as electronics and automotive. In 2019, McDermott International, Inc. was awarded a contract of providing technology to Formosa for the effective production of alpha-Methyl styrene and MC Dermott promised to recover alpha-Methyl styrene with unmatched purity. Therefore such initiatives related to technology undertaken by key players tend to increase the competitiveness amongst key players, which in turn is expected to propel the application of alpha-methyl styrene. Increasing usage of alpha-methylstyrene in resins is expected to augment at a much faster rate due to its wide usage and range of applications.

Increasing Use of Styrene Based Products in Automotive Industry is expected to Spur Alpha-Methylstyrene Market

Increasing use of ABS, SBR and SAN in automotive and electronic sectors is pushing the usage of alpha-methyl styrene in styrene based products. One-third of demand of the alpha-methyl styrene comes from ABS followed by SBR and SAN. According to Department of Economic and Social Affairs (United Nations) around 79145 thousand units of tires in 2016 was produced in China, which is 3% higher than the preceding year production. Global SBR production is around 8.0 Million tonnes in 2019 and expected to grow at 6.0% CAGR in 2019-2029 forecast period. This suggests that there is an increasing demand of styrene based products and China is key emerging player in the domain of resins and polymers. Rapid growth of automobile industry is increasing the demand of alpha-methylstyrene from the end use industry. Increase in demand of durable waxes and heat resistant adhesives is expected to expand the alpha-methylstyrene market.

Segmentation analysis of alpha-Methylstyrene Market

The alpha-Methyl styrene market is bifurcated into four major segments: Purity, application, end use and region.

On the basis of purity, the global alpha-Methylstyrene market is divided into:

  • Below 95%
  • Above 95%

On the basis of application, the global alpha-Methylstyrene market is divided into:

  • Plasticizers
    • Internal
    • External
  • Polymers
    • Thermosets
    • Thermoplastics
  • Resins
    • Styrene Butadiene Rubber
    • Styrene Acrylonitrile
    • Acrylonitrile Butadiene Styrene
    • Others
  • Lubricating oils
  • Antioxidants
  • others

On the basis of end use the global alpha-Methylstyrene market is divided into:

  • Waxes
  • Coatings
  • Adhesives
  • Others

Alpha-Methylstyrene Market: Regional Outlook

East Asia is expected to contribute a major portion of the market due to increasing use of alpha-methylstyrene for the production of styrene based products. Countries such as China, Japan, and South Korea have high Acrylonitrile Butadiene Styrene and styrene-acrylonitrile production, which consequently necessitate the usage of alpha-Methylstyrene. China is one of the key emerging markets for alpha-Methyl styrene in the East Asia region due to its huge Styrene Butadiene Rubber, Styrene Acrylonitrile and other resin manufacturing units. Further, North America is expected to follow East Asia in the global alpha-Methyl styrene market due to various factors such as high resin and plasticizer utilization and presence of manufacturing giants of styrene based products. Alpha-Methylstyrene market in Europe is expected to show high growth rates due to increasing technological advancements, increasing styrene-butadiene rubber production and their dominance in the electronic and automobile sector. Initiatives such as “European Green Vehicles Initiative (EGVI cPPP)” tend to drive the manufacturing industries of the region that signifies growth in the polymer and resin industry. Germany and Italy are the emerging markets in coatings industry in Europe due to the huge demand of alpha-Methylstyrene products in the automotive industry. Followed by Europe, South Asia and Oceania, it is expected to grow at a commendable CAGR of 3% in the forecast period of 2019-2029.  Moreover, Latin America accounted for a substantial market share in terms of alpha-Methyl styrene demand. Market is expected to flourish in the Middle East and Africa due to increasing disposable income and demand for the durable styrene based products shall boost the demand of alpha-methylstyrene.  

Key players of alpha-Methylstyrene Market

Prominent players in the global alpha-Methylstyrene market are Formosa Chemicals Industries Ningbo Limited, Ineos Limited, Mitsui Chemicals Inc, Mitsubishi Chemical Corporation, Advansix Inc, Rosneftegaz JSC, Tokyo chemical industry co., Ltd, CEPSA Quimica, S.A and others. The alpha-Methylstyrene market consists of significant global and regional players with global vendors dominating the market.

The research report presents a comprehensive assessment of the alpha-Methylstyrene market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The alpha-Methylstyrene market report provides analysis and information, according to market segments such as purity, application, end use and region.

The Alpha-Methylstyrene Market Report Covers Exhaustive Analysis On:

  • Market Segments
  • Market Dynamics
  • Market Size & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

The Alpha-Methylstyrene report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Alpha-Methylstyrene report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The Alpha-Methylstyrene report also maps the qualitative impact of various market factors on market segments and geographies.

The Alpha-Methylstyrene Market Report Highlights:

  • A Detailed overview of the parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?