Alpha Methylstyrene Market Size
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 286.69 kilotons |
| Market Volume (2029) | 342.15 kilotons |
| CAGR (2024 - 2029) | 3.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Alpha Methylstyrene Market Analysis
The Alpha Methylstyrene Market size is estimated at 286.69 kilotons in 2024, and is expected to reach 342.15 kilotons by 2029, growing at a CAGR of 3.60% during the forecast period (2024-2029).
COVID-19 negatively impacted the market as all the industries halted their manufacturing processes. Lockdowns, social distances, and trade sanctions triggered massive disruptions to global supply chain networks. However, the condition is recovered in 2021, which is expected to benefit the market during the forecast period.
- In the medium term, the major factors driving the market studied are the increasing demand for the manufacturing of ABS resins and increasing demand for alpha-methyl styrene in the electronics segment.
- On the flip side, hazardous waste release during the production of alpha methyl styrene is likely to restrain the market growth.
- Increase in demand for durable waxes and heat-resistant adhesives is likely to act as an opportunity for the market in coming years.
- Asia-Pacific accounted for the highest market share, and the region is likely to dominate the market during the forecast period.
Alpha Methylstyrene Market Trends
Automotive Industry to Dominate the Market
- Alpha methyl styrene is an intermediate for the production of ABS resin. Further, ABS resin is used as a replacement for metal in the automotive industry. Various automotive parts that look for weight reduction factors use ABS thermoplastic. ABS is commonly used for parts that include dashboard components, seat backs, seat belt components, handles, door loners, pillar trim, and instrument panels.
- According to the Organization Internationale des Constructeurs d'Automobiles (OICA), global automotive vehicle production reached 85.01 million in 2022, with a growth rate of 6% as compared to 80.20 million vehicles manufactured in 2021, thereby indicating an increased demand for alpha methyl styrene from the automotive industry.
- Furthermore, the rising production of electric vehicles is likely to enhance the market demand for the market-studied. For instance, according to the EV Volumes, a total of 10.5 million new BEVs and PHEVs were delivered during 2022, an increase of 55 % compared to 2021.
- Asia-Pacific region is home to some of the world's most valuable vehicle manufacturers. Developing countries such as China, India, Japan, and South Korea have been working hard to strengthen the manufacturing base and develop efficient supply chains for greater profitability.
- According to the China Association of Automobile Manufacturers (CAAM), China has the largest automotive production base in the world, with a total vehicle production of 27.2 million units in 2022, registering an increase of 3.4 % compared to 26.1 million units produced last year.
- In Europe, Germany is among the vital manufacturer of vehicles. According to the German Association of the Automotive Industry (VDA), Germany produced 263,400 units of cars in July 2022, registering a growth rate of 7% compared to the same period in 2021. Additionally, the demand for electric cars is increasing in Germany. Thus, various companies are increasing the production volume of electric cars in the country. For instance, in June 2023, Ford announced the inauguration of the Cologne Electric Vehicle Center, a hi-tech production facility in Germany.
- In North America, according to the OICA, automotive production in 2022 accounted for 17.7 million units, an increase of 10% compared to that in 2021, which was around 16.1 million units.
- Therefore, the demand for alpha methyl styrene is expected to grow with the expanding automotive production during the forecast period.
Asia-Pacific to Dominate Alpha Methyl Styrene Market
- Asia-Pacific holds a prominent share in the alpha-methylstyrene market globally and is expected to dominate the market during the period of forecast.
- As per the data released by the National Bureau of Statistics, China's tire industry is experiencing substantial growth, reflecting the increasing demand for tires in the domestic as well as international markets.
- According to the National Bureau of Statistics of China, as of May 2023, China produces roughly 6 million metric tons of plastic products monthly. Since January 2020, the highest monthly output of plastic products was recorded in December 2021, at 7.95 million metric tons.
- Furthermore, China is a hub for chemical processing, accounting for a major chunk of global chemicals. In China, the world's largest chemicals market, a slight slowdown in chemical production growth is expected in 2023. Following Russia and Ukraine war, the chemical industry experienced a year marked by further bottlenecks in global supply chains already strained by rising energy and raw material costs, pandemic, economic uncertainty, and political turmoil in 2022. Continuing on the tumultuous grounds, China is expected to register a slightly weaker growth of 5.9% in chemical production in 2023, as per the BASF's chemical industry outlook. However, the increasing investments in the construction of new chemical plants support the demand for AMS in the mid-term.
- India is one of the largest producers and consumers of rubber after China in the Asia-Pacific region. In India, over 65% of the rubber produced is used for manufacturing automotive (50%) and bicycle tires and tubes (15%). Moreover, the country has almost 66 tire-producing plants and about 41 tire-producing companies.
- According to IBEF, total plastics exports between April-September 2022 stood at USD 6.38 billion. During this period, the exports of plastic raw materials, medical items, and pipes and fittings increased by 32.3%, 24.8%, and 17.9% over the same time last year.
- Thus, rising demand from various industries is expected to drive the market studied in the region during the forecast period.
Alpha Methylstyrene Industry Overview
The alpha methyl styrene market is fragmented in nature. Some of the major companies in the market include ENI S.p.A., INEOS, Cepsa, Mitsubishi Chemical Corporation, and Domo Chemicals, among others.
Alpha Methylstyrene Market Leaders
ENI S.p.A.
INEOS
Cepsa
Mitsubishi Chemical Corporation
Domo Chemicals
*Disclaimer: Major Players sorted in no particular order
Alpha Methylstyrene Market News
- April 2023: INEOS Phenol announced the completion of the acquisition of Mitsui Phenols Singapore Ltd for a total consideration of USD 330 million. Through the acquisition, the company has added more than 1 million tons of capacity each year which also includes alpha-methyl styrene (20 ktpa), among various other products which will further help the company in supporting its customers more effectively across the Asian region.
- April 2022: Kraton Corporation announced plans of investing in the alpha-methyl styrene-producing facility located in Niort, France. The investment is expected to enhance the production capacity by 15% by 2023.
Alpha Methylstyrene Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand For the Manufacturing of ABS Resins
4.1.2 Increasing Demand For Alpha-methyl Styrene In the Electronics Segment
4.2 Restraints
4.2.1 Hazardous Waste Release During the Production of Alpha Methyl Styrene
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume and Value)
5.1 Application
5.1.1 ABS Manufacture
5.1.2 Plastic Additives and Intermediates
5.1.3 Adhesives
5.1.4 Coatings
5.1.5 Other Applications
5.2 End-user Industry
5.2.1 Tire
5.2.2 Automotive
5.2.3 Electronics
5.2.4 Plastics
5.2.5 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Rest of Europe
5.3.4 Rest of the World
5.3.4.1 South America
5.3.4.2 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AdvanSix
6.4.2 Altivia
6.4.3 Cepsa
6.4.4 Chang Chun Group
6.4.5 Deepak
6.4.6 Domo Chemicals
6.4.7 Eni S.P.A.
6.4.8 INEOS
6.4.9 Kraton Corporation
6.4.10 Kumho P&B Chemicals.,inc.
6.4.11 Mitsubishi Chemical Corporation
6.4.12 Prasol Chemicals Limited
6.4.13 Rosneft
6.4.14 Seqens
6.4.15 SI Group, Inc.
6.4.16 Solvay
6.4.17 Yangzhou Lida Chemical Co., Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increase in Demand for Durable Waxes and Heat-resistant Adhesives
7.2 Other Opportunities
Alpha Methylstyrene Industry Segmentation
Alpha methyl styrene is a colorless liquid and type of organic chemical which is majorly utilized in order to enhance the heat-resistance when used as a co-monomer during the polymerization processes. It can be utilized in several applications, such as ABS manufacturing chemical resins, plastics, adhesives, and coatings, including many others.
The alpha methyl styrene market is segmented by application, end-user industry, and geography. By application, the market is segmented into ABS manufacture, plastic additives and intermediates, adhesives, coatings, and other applications. By end-user industry, the market is segmented into tire, automotive, electronics, plastics, and other end-user industries. The report also covers the market size and forecasts for the alpha methyl styrene market in 11 countries across major regions. For each segment, market sizing and forecasts are done in volume (kilotons) and revenue (USD million).
| Application | |
| ABS Manufacture | |
| Plastic Additives and Intermediates | |
| Adhesives | |
| Coatings | |
| Other Applications |
| End-user Industry | |
| Tire | |
| Automotive | |
| Electronics | |
| Plastics | |
| Other End-user Industries |
| Geography | |||||||
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Alpha Methylstyrene Market Research FAQs
How big is the Alpha Methylstyrene Market?
The Alpha Methylstyrene Market size is expected to reach 286.69 kilotons in 2024 and grow at a CAGR of 3.60% to reach 342.15 kilotons by 2029.
What is the current Alpha Methylstyrene Market size?
In 2024, the Alpha Methylstyrene Market size is expected to reach 286.69 kilotons.
Who are the key players in Alpha Methylstyrene Market?
ENI S.p.A., INEOS, Cepsa, Mitsubishi Chemical Corporation and Domo Chemicals are the major companies operating in the Alpha Methylstyrene Market.
Which is the fastest growing region in Alpha Methylstyrene Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Alpha Methylstyrene Market?
In 2024, the Asia Pacific accounts for the largest market share in Alpha Methylstyrene Market.
What years does this Alpha Methylstyrene Market cover, and what was the market size in 2023?
In 2023, the Alpha Methylstyrene Market size was estimated at 276.73 kilotons. The report covers the Alpha Methylstyrene Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Alpha Methylstyrene Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Alpha-Methylstyrene Industry Report
Statistics for the 2024 Alpha-Methylstyrene market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Alpha-Methylstyrene analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
