Alpha-methylstyrene Market size is poised to reach USD 800 Million by the end of 2036, growing at CAGR of 4% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of Alpha-methylstyrene was USD 506 Million. The reason behind the growth is due to the growing production of chemicals across the globe. The main growth drivers for the chemical sector are anticipated to be robust demand across end-user sectors since the manufacture and use of chemicals have a significant role in employment, trade, and economic growth on a global scale. In 2023, it is anticipated that global chemical production apart from medicines will increase by more than 1%.
The growing demand for polymers is believed to fuel the alpha-methylstyrene market growth. Alpha-methylstyrene (AMS) is an organic chemical compound that is colorless and is used to make a range of styrenic polymers that offer a number of advantages to meet the varied needs of the healthcare sector, including special benefits for the design and development of medical devices and parts owing to their versatility.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~4% |
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Base Year Market Size (2023) |
~ USD 506 Million |
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Forecast Year Market Size (2036) |
~ USD 800 Million |
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Regional Scope |
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Application (ABS Manufacture, Waxes, PARA-CUMYLEPHENOL, Adhesives and Coatings)
The ABS manufacture segment is estimated to hold 35% share of the global alpha-methylstyrene market by 2036 owing to the growing food & beverage sector. Among the most commonly used engineering thermoplastics is ABS, also known as Acrylonitrile Butadiene Styrene, which is a versatile family of thermoplastic polymers that ensures exceptional chemical resistance, high rigidity, durability, and dimensional stability.
One of the most widely used processes for producing ABS plastic goods is injection molding whereby a polymer is pushed through a mold at extreme pressure after being heated to a completely molten state. Moreover, ABS in injection molding applications has the ability to produce large quantities of goods with extremely efficient technology as a result, it can keep up with the food and beverage (F&B) industry fast speed. A range of products that handle food and beverages before consumption are made via the method of food-grade plastic injection molding that is suitable for food use such as high-density polyethylene (HDPE), a petroleum thermoplastic with a wide range of applications, is a common plastic used in the food business. The global food and drink industry is expected to increase by more than 12% between 2022 and 2027.
Purity Level (High Purity, Low Purity)
Alpha-methylstyrene market from the high purity segment is set to garner a notable share shortly. The global industrial standard for the purity of alpha-methylstyrene is 98.5% is primarily used in the manufacture of specialized polymers and is apt for applications where precise control is essential. Additionally, high purity alpha methyl styrene is often used to create several types of monomers, such as acrylates and benzene which are two substances that are frequently utilized in the materials and chemical engineering disciplines to benefit the economy and industry, and also increase convenience and improve standard of living.
End-User (Packaging, Automotive, Electronics, Construction, Chemicals, Paints and Coatings)
The paints and coatings segment in the alpha-methylstyrene market is poised to gain significant revenue share by the year 2036. Alpha-methylstyrene (AMS), often referred to as 2-phenylpropene or isopropyl benzene, serves as a transitional material in the manufacturing of paints and coatings. Moreover, alpha-methyl styrene is a chemical intermediate formed in a variation of the cumene which smells like gasoline and is generally used in the production of paints, lacquers, and enamels to clean surfaces and parts of grease and debris before painting.
Our in-depth analysis of the global alpha-methylstyrene market includes the following segments:
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End-User |
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Purity Level |
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Application |
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APAC Market Forecast
Alpha-methylstyrene market in Asia Pacific is predicted to account for the largest share of 45% by 2036 impelled by the presence of the world’s biggest automotive manufacturers. China continues to be the world's leading automotive manufacturing nation in the world by both annual sales and manufacturing output. Besides this, South Korea, which as of 2022 ranked as the fifth-largest producer of passenger automobiles worldwide, has an impressive automobile manufacturing industry with the presence of leading companies such as Hyundai and KIA, which have helped the country become a global powerhouse. All these factors are expected to drive the demand for alpha-methylstyrene in the region. By 2025, it is projected that over 34 million vehicles will be produced in China.
North American Market Statistics
The North America alpha-methylstyrene market is estimated to be the second largest, during the forecast timeframe led by rising personal disposable income that has incentivized people to buy electronic products such as tablets, laptops, and other appliances, which may lead to a higher demand for specialty polymers such as alpha-methylstyrene in the region. For instance, the United States disposable personal income rose by over o.2% in 2023.
Author Credits: Smruti Ranjan, Rajrani Baghel
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