Global Alpha-Methylstyrene Market By Application (ABS Resin, Para-Cumylphenol, Adhesives & Coatings, Plasticizer, Chemical Intermediate, Finishing Agents, Waxes, Others), Purity (Assay Above 99.5%, Between 95%-99.5%), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Forecast to 2026
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Global alpha-methylstyrene market is expected to rise to an estimated value of USD 563.80 million by 2026, registering a steady CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the growth in demand for the consumer goods which are one of the major uses of alpha-methylstyrene along with its growing applications in the automotive industry.
Market Definition: Global Alpha-Methylstyrene Market
Alpha-methylstyrene is a colourless liquid chemical which is manufactured as a by-product of the phenol-acetone production process. It is less dense than water and is insoluble with an aromatic fragrance. It is a highly flammable liquid with a burning point at 115°F, and finds its use as an intermediary for the manufacturing of other chemical products.
Key Developments in the Market:
- In January 2019, Mitsui Chemicals, Inc. announced that they will initiate the production of alpha-methylstyrene at the facility of their subsidiary present in Singapore, Mitsui Phenols Singapore Pte. Ltd. This step will provide for better supply chain system as the demand for alpha-methylstyrene is increasing amid growth of the economies.
- In August 2016, Westlake Chemical Corporation announced that they had completed the acquisition of Axiall Corporation. This acquisition will establish Westlake Chemical Corporation as a leader of several chemical products & services in the North America region, and also positively affect the revenues of their organisation by expanding the product portfolios of the combined organisation.
Competitive Analysis: Global Alpha-Methylstyrene Market
Global alpha-methylstyrene market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of alpha-methylstyrene market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Alpha-Methylstyrene Market
Few of the major competitors currently working in the global alpha-methylstyrene market are SI Group, Inc.; KUMHO PETROCHEMICAL; AdvanSix; Versalis; Group of Companies «Titan»; INEOS; Mitsubishi Chemical Holdings Corporation; Mitsui Chemicals, Inc.; SEQENS SAS; Altivia; The Plaza Group; ROSNEFT; Solvay; TPCC; DOMO Chemicals GmbH; Cepsa; Yangzhou Lida Chemical Co.,Ltd.; Prasol Chemicals Pvt. Ltd.; Honeywell International Inc; Sunoco; Merck KGaA; Banner Chemicals Limited and Westlake Chemical Corporation.
- High levels of growth for the product due to its several applications in the manufacturing of other chemicals especially from the developing region; this factor is expected to drive the growth of the market
- Increasing demand of acrylonitrile butadiene styrene (ABS) resins due to the growth of the electronics & automotive industry; this factor is expected to drive the growth of the market
- Increasing investments undertaken by the manufacturers to improve the manufacturing process is expected to positively affect the growth of the market
- Generation of toxic substances during the production and flammable nature of these products, burning of which causes release of greenhouse gases; this factor is expected to restrain the growth of the market
- Concerns regarding its compatibility with oxidizing agents; this factor is expected to restrain the growth of the market
- Vulnerable and fluctuating nature of raw materials prices is expected to restrain the growth of the market
Segmentation: Global Alpha-Methylstyrene Market
- Acrylonitrile Butadiene Styrene (ABS) Resin
- Adhesives & Coatings
- Chemical Intermediate
- Finishing Agents
- Polyester Resin
- Alkyd Resin
- Assay Above 99.5%
- Between 95%-99.5%
- North America
- South America
- Middle East and Africa
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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