CHICAGO, May 8, 2019 /PRNewswire/ --According to the new market research report "Alpha-Methylstyrene Market by Application(ABS, Para-Cumylphenol, Adhesives & Coatings, Waxes), Purity(Assay above 99.5% and Between 95% to 99.5%), Region(Asia Pacific, Europe, North America, Middle East & Africa, South America) - Global Forecast to 2024", published by MarketsandMarkets™, 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.

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The ABS segment is projected to lead the alpha-methylstyrene market in terms of both, value and volume during the forecast period.

Based on application, the ABS segment of the alpha-methylstyrene market is projected to grow at the highest CAGR from 2019 to 2024, in terms of both, value and volume. Alpha-methylstyrene is primarily used in the production of ABS as it improves the heat stability and impact resistance of ABS resins. Increased demand for ABS resins from various end-use industries such as automotive and electronic appliances is driving the growth of the ABS segment of the alpha-methylstyrene market, worldwide.

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 of the alpha-methylstyrene market is projected to grow at a higher CAGR than the between 95% to 99.5% segment during the forecast period in terms of both, value and volume. 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. The global industrial standard for the purity of alpha-methylstyrene is 98.5%. Most of the manufacturers of alpha-methylstyrene across the globe produce alpha-methylstyrene having a purity level of 98.5% and above.

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The alpha-methylstyrene market in Asia Pacific is projected to grow at the highest CAGR in terms of both, value and volume during the forecast period.

The Alpha-Methylstyrene Market in Asia Pacific is projected to grow at the highest CAGR in terms of both, value and volume from 2019 to 2024. China, India, Japan, and South Korea are key countries contributing to the increased demand for alpha-methylstyrene in this region. Innovations in production techniques of electronic appliances, rise in population, and increase in the income of the middle class population of the region, have resulted in increased demand for consumer durables and automobiles in Asia Pacific, thereby contributing to the growth of the alpha-methylstyrene market in this region.

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) are some of the leading players operating in the alpha-methylstyrene market.

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