Alpha-Methyl Styrene Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
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:
On the basis of application, the global alpha-Methylstyrene market is divided into:
On the basis of end use the global alpha-Methylstyrene market is divided into:
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.
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