Global Alpha-Methylstyrene Market to 2024 by Application (ABS, Para-Cumylphenol, Adhesives & Coatings, Waxes), & Purity (Assay above 99.5% & Between 95% to 99.5%) - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 23, 2019--
The “Alpha-Methylstyrene Market by Application(ABS, Para-Cumylphenol, Adhesives & Coatings, Waxes), Purity(Assay above 99.5% & Between 95% to 99.5%), Region - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The alpha-methylstyrene market is projected to grow from USD 473 million in 2019 to USD 543 million by 2024, at a CAGR of 2.8% from 2019 to 2024.
Increased demand for Acrylonitrile Butadiene Styrene (ABS), which uses alpha-methylstyrene, from various end-use industries such as automotive and electronic appliances is one of the key factors driving the growth of the alpha-methylstyrene market across the globe. The generation of hazardous wastes during the production of alpha-methylstyrene acts as a major restraint for the growth of the alpha-methylstyrene market during the forecast period.
The ABS segment is projected to be lead the alpha-methylstyrene market in terms of both, value and volume during the forecast period.
Based on application, the ABS segment led the alpha-methylstyrene market in 2018 in terms of both, value and volume. The growth of this segment can be attributed to the excellent properties such as heat stability and impact resistance offered by ABS that are further improved by using alpha-methylstyrene in its production. These properties make ABS a preferred material in various end-use industries such as automotive and electronic appliances.
The assay above 99.5% segment is projected to lead the alpha-methylstyrene market in terms of both, value and volume from 2019 to 2024.
Based on purity, the assay above 99.5% segment accounted for the largest share of the alpha-methylstyrene market in 2018. Purity above 99.5% indicates that the chemical mixture contains over 99.5% of pure alpha-methylstyrene. Higher the purity level of alpha-methylstyrene, higher is the number of applications, wherein it can be used. Alpha-methylstyrene with purity above 99.5% is used as a heat stabilizer for ABS, as a solvent in the plastics industry, and as a pigment and paint adhesive agent in adhesives & coatings, waxes, and tackifiers. It is also used in the food and cosmetics industries. Alpha-methylstyrene is used as an antioxidant, a modified polyester, and an alkyd resin.
Asia Pacific is projected to lead the alpha-methylstyrene market during the forecast period, in terms of both, value and volume.
The Asia Pacific region is projected to lead the alpha-methylstyrene market from 2019 to 2024, in terms of both, value and volume. The rising disposable income of the middle-class population and growing demand for automobile and consumer durables in the region contribute to the growth of the alpha-methylstyrene market in Asia Pacific. The market in this region is also projected to grow at the highest CAGR from 2019 to 2024, in terms of value, owing to the increased demand for alpha-methylstyrene from countries such as China, Japan, India, and South Korea.
Furthermore, as a part of the qualitative analysis of the alpha-methylstyrene market, the research provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing the growth of the market across the globe.
It also discusses competitive strategies adopted by the leading market players such as INEOS Group Holding S.A. (Switzerland), AdvanSix (US), Rosneft (Russia), Altivia Corp. (US), SI Group Inc. (US), DOMO Chemicals (Belgium), Kumho P&B Chemicals (South Korea), Taiwan Prosperity Chemical Corp. (Taiwan), Yangzhou Lida Chemicals (China), Mitsubishi Chemical Corporation (Japan), Solvay SA (Belgium), and Mitsui Chemicals, Inc. (Japan).
For more information about this report visit https://www.researchandmarkets.com/r/51wrly
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INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Research and Markets
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PUB: 05/23/2019 04:41 AM/DISC: 05/23/2019 04:41 AM