Selbyville, Delaware, Aug. 08, 2023 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the Global Alpha-Methylstyrene Market was estimated at USD 505.68 million in 2022 and is expected to surpass a valuation of $ 692.90 million by 2032, progressing at a CAGR of 3.2% from 2023 to 2032. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets.
AMS is a versatile chemical compound used in the production of various end-use products such as plastics, resins, coatings, and adhesives. The increasing demand for these products across industries like automotive, construction, electronics, and packaging is propelling the growth of the AMS market. The rising global population and rapid urbanization are leading to increased construction activities and infrastructure development. This creates a demand for AMS-based materials like polystyrene and ABS plastics, which find extensive usage in the construction sector. Furthermore, the growing automotive sector is also contributing to the market growth. AMS-based resins are widely employed in the manufacturing of lightweight and durable automotive components, including interior trims, bumpers, and panels. As the demand for eco-friendly vehicles and electric cars rises, the requirement for AMS-based materials is expected to surge.
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Preference for high purity AMS for eco-friendly production
Based on purity level, the alpha-methylstyrene market is divided into low purity and high purity. The high purity segment is poised to gain traction during 2023 and 2032, owing to the enhanced quality & performance of end-use products. High purity AMS reduces the risk of product contamination, thereby improving the overall manufacturing process. Furthermore, it allows for precise control over the reaction kinetics and enables the production of specialized materials with superior properties, such as improved thermal stability, higher impact resistance, and increased clarity. In addition, high purity AMS is used in the production of recyclable and low-emission materials, making it a sustainable solution.
Product usage in adhesives & sealants for desirable properties
In terms of application, the market is segmented into plastics and resins, paints and coatings, fragrances and flavors, rubber, adhesives and sealants, and others. The alpha-methylstyrene industry share from adhesives & sealants segment is expected to witness significant growth through 2032. One of the key advantages of AMS in adhesives & sealants is its excellent adhesive properties. It provides strong bonding capabilities, allowing adhesives to create durable and long-lasting bonds between different substrates, such as metals, plastics, and composites. AMS also adds to the cohesive strength of adhesives, improving their resistance to stress and deformation. It enhances the chemical and thermal resistance of adhesives and sealants, while imparting stability and durability. AMS-based adhesives and sealants exhibit resistance to harsh environments, including high temperatures, chemicals, and UV radiation, making them suitable for demanding applications in industries like automotive, aerospace, and construction.
Favorable business environment in APAC to push industry growth
Regionally, Asia Pacific alpha-methylstyrene market value will surge by 2032. The region's rapid industrialization, expanding manufacturing sector, and rising consumer disposable income are driving the demand for AMS-based products. The manufacturers in the region are adopting advanced production technologies, such as continuous liquid-phase oxidation (CLO) and gas-phase catalytic oxidation (GPO), to improve process efficiency & yield. These technological advancements are driving the production capacity of AMS, ensuring a steady supply to cater to the increasing market requirements. Additionally, the presence of key players, along with a favorable business environment will sway the APAC industry forward.
Key players in the global market
Major players in the global alpha-methylstyrene market are Chevron Phillips Chemical Company LLC, INEOS Group Holdings S.A., AdvanSix Inc., Kumho P&B Chemicals Inc., and Mitsui Chemicals, Inc., among others.
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Partial chapters of report table of contents (TOC):
Chapter 3 Global Alpha-Methylstyrene Industry Insights
3.1 Impact of COVID-19 outbreak.
3.2 Impact of Russia Ukraine war
3.3 Alpha-Methylstyrene industry ecosystem analysis
3.4 Industry Ecosystem
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Pricing analysis
3.8 Regulatory landscape
3.9 Industry impact forces
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company market share analysis, 2022
4.3 Competitive analysis of key market players, 2022
4.4 Competitive positioning matrix
4.5 Strategic outlook matrix
Chapter 5 Global Alpha-Methylstyrene Market By Purity Level, 2018 – 2032
5.1 High Purity Alpha-Methylstyrene
5.2 Low Purity Alpha-Methylstyrene
Chapter 6 Global Alpha-Methylstyrene Market by Application, 2018 – 2032
6.1 Plastics and Resins
6.2 Adhesives and Sealants
6.3 Paints and Coatings
6.4 Rubber
6.5 Fragrances and Flavors
6.6 Others
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
