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.
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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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