Alpha Methyl Styrene Market to Grow at Steady CAGR During Forecast Period

Growing demand from chemical industry to drive the growth of global alpha methyl styrene market through 2024

According to TechSci Research report, “Global Alpha Methyl Styrene Market By Type, By Application, By Region, Competition Forecast & Opportunities, 2024”, the global alpha methyl styrene market is expected to grow at a steady CAGR of during the forecast period. Alpha methyl styrene is primarily used in the manufacture of ABS resin, thus, increasing demand for the same from end use industries is expected to drive the growth of global alpha methyl styrene market during the forecast period. However, its incompatibility with strong oxidising agents such as mercury, copper and alkaline pesticides is likely to hamper the growth of the market during forecast period.

The global alpha methyl styrene market is segmented based on type, application, region and company. Based on type, the market can be bifurcated into Purity-95% and Purity-90%. The Purity-95% segment is anticipated to dominate the market owing to its widespread use in various end user industries such as paints & coatings, plastics, adhesives and others. Based on application, the market can be fragmented into ABS Manufacture, Para-Cumyl phenol, Paints & Adhesives and Waxes. The ABS Manufacture segment is estimated to register the highest growth during the forecast period on account of surging demand for ABS from the automotive and electronic appliances industry.

INEOS Group, Ltd., Honeywell International Inc., PJSC Rosneft Oil Company, Compañía Española de Petróleos, S.A.U, Mitsui Chemicals, Inc, Taiwan Prosperity Chemical, AdvanSix Inc., Kumho P&B Chemicals, Domo Chemicals GmbH, Mitsubishi Chemical Holdings and others are some of the leading players operating in global alpha methyl styrene market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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“Asia-Pacific is expected to be the largest growing market for alpha methyl styrene during the forecast period, owing to its rising use in plastic and adhesive industry in different countries of the region. China, India, Japan, and South Korea are the major consumers of alpha-methyl styrene in this region. Moreover, the increasing demand for consumer durables and automobiles is further contributing to the growth of alpha methyl styrene market in Asia-Pacific.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Alpha Methyl Styrene Market By Type, By Application, By Region, Competition Forecast & Opportunities, 2024” has evaluated the future growth potential of global  alpha methyl styrene market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global alpha methyl styrene market.

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