Alpha-Methyl Styrene Market Intelligence Study for Comprehensive Insights | Mitsui Chemicals Inc, Mitsubishi Chemical Corporation

Posted on 2021-03-04 by Future Market Insights, Inc in Chemicals // 0 Comments

Alpha-Methylstyrene is an intermediate that has wide range of applications in the manufacturing of plasticizers, polymers, and resins. Alpha-Methylstyrene is known for its ability to enhance the property of styrene-based polymers. Market players are looking forward to produce styrene-based products using alpha- Methylstyrene due to its properties such as heat resistance over styrene. Moreover, alpha-methyl styrene gains the upper hand over styrene on handling and stability of the products. Significant changes in the production process of alpha-Methyl styrene is observed as a recent trend that is propelling the demand side of the supply chain. Increasing usage of alpha-methylstyrene due to its competitive properties is expected to increase the demand from various sectors such as electronics and automotive. In 2019, McDermott International, Inc. was awarded a contract of providing technology to Formosa for the effective production of alpha-Methyl styrene and MC Dermott promised to recover alpha-Methyl styrene with unmatched purity. Therefore such initiatives related to technology undertaken by key players tend to increase the competitiveness amongst key players, which in turn is expected to propel the application of alpha-methyl styrene. Increasing usage of alpha-methylstyrene in resins is expected to augment at a much faster rate due to its wide usage and range of applications.

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Increasing Use of Styrene Based Products in Automotive Industry is expected to Spur Alpha-Methylstyrene Market

Increasing use of ABS, SBR and SAN in automotive and electronic sectors is pushing the usage of alpha-methyl styrene in styrene based products. One-third of demand of the alpha-methyl styrene comes from ABS followed by SBR and SAN. According to Department of Economic and Social Affairs (United Nations) around 79145 thousand units of tires in 2016 was produced in China, which is 3% higher than the preceding year production. Global SBR production is around 8.0 Million tonnes in 2019 and expected to grow at 6.0% CAGR in 2019-2029 forecast period. This suggests that there is an increasing demand of styrene based products and China is key emerging player in the domain of resins and polymers. Rapid growth of automobile industry is increasing the demand of alpha-methylstyrene from the end use industry. Increase in demand of durable waxes and heat resistant adhesives is expected to expand the alpha-methylstyrene market.

Segmentation analysis of alpha-Methylstyrene Market

The alpha-Methyl styrene market is bifurcated into four major segments: Purity, application, end use and region.

On the basis of purity, the global alpha-Methylstyrene market is divided into:

Below 95%
Above 95%

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On the basis of application, the global alpha-Methylstyrene market is divided into:

Plasticizers
- Internal
- External
Polymers
- Thermosets
- Thermoplastics
Resins
- Styrene Butadiene Rubber
- Styrene Acrylonitrile
- Acrylonitrile Butadiene Styrene
- Others
Lubricating oils
Antioxidants
others

On the basis of end use the global alpha-Methylstyrene market is divided into:

Waxes
Coatings
Adhesives
Others

Based on region, the global alpha-Methylstyrene market is segmented as:

North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa (MEA)

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Key players of alpha-Methylstyrene Market

Prominent players in the global alpha-Methylstyrene market are Formosa Chemicals Industries Ningbo Limited, Ineos Limited, Mitsui Chemicals Inc, Mitsubishi Chemical Corporation, Advansix Inc, Rosneftegaz JSC, Tokyo chemical industry co., Ltd, CEPSA Quimica, S.A and others. The alpha-Methylstyrene market consists of significant global and regional players with global vendors dominating the market.

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