Alpha Methyl Styrene Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1795
Alpha Methyl Styrene Market size shall witness a healthy growth in forecast period with application in adhesives, resins, and chemical intermediates. These are extensively used for production of acrylonitrile butadiene styrene (ABS) resins. ABS market is growing at a CAGR of around 4.5% owing to its application in automotive and protective equipment that has increased product usage. Further, its production output will increase with processes like involvement of dehydrogenation in FSU. These factors are expected to propel alpha methyl styrene market.
Alpha methyl styrene (AMS) or isopropyl benzene is colourless liquid having sharp odour and used as co monomer in various polymerisation processes to improve impact and heat resistance of products. These are produced as by product in phenol production process of cumene oxidation. It undergoes purification by continuous distillation at reduced pressure to decrease cumene, phenol and butyl benzene impurities. To enhance cost efficiency of the process, companies like UOP and Kellogg recycle it by hydrogenation. It can easily be copolymerized with monomers like acrylates and benzene. Its pricing depends on benzene price trends.
The bisphenol and polycarbonate product segment is growing above 6% that has increased its utilization. These are obtained as by product in phenol production and its availability has enhanced with increase in phenol production capacity. AMS is preferred over styrene as these provide better heat stability and impact strength. Such factors are expected to further boost alpha methyl styrene market.
Major restraint for alpha methyl styrene market is its incompatibility with strong oxidising agents such as mercury, copper and alkaline pesticides. It can cause some health issues like irritation in eyes, skin and throat. These can lead to environmental pollution as on burning it releases toxic gases and vapours like carbon monoxide that increases greenhouse gases. Further it is highly flammable and vapours form explosive mixture with air.
Based on application, alpha methyl styrene market is segmented into ABS manufacturing, plastic additive, adhesives, plasticizers, chemical intermediate and others. These are primarily used for production of ABS resins to impart heat distortion property. ABS has major share and accounts for around one third of its demand. It finds application in diverse products like lubricating oils, drying oils, antioxidants and perfumes.
Further, these are used for manufacturing low molecular weight polymers that forms viscous liquid and employed in coatings, adhesives, plasticisers and waxes. The adhesives market is growing with a CAGR above 5% that is driving the product consumption. Plasticizers are used to improve the flexibility and durability of materials. Super plasticizers are employed in cements to decrease water to cement ration in concrete mixtures. These are added in paint coatings to improve viscosity and adhesion property.
North America led by the U.S. has significant share in global alpha methyl styrene market with its use in waxes. The region is second largest producer of wax and is growing at a CAGR of around 4.5%, and is expected to increase the product penetration.
Europe has substantial share with its application for producing ABS. ABS industry is growing at a CAGR above 6% owing to its usage in automobile segment. Stringent government regulation for reducing automobile weight is major factor for its growth.
Asia Pacific has healthy growth rate in alpha methyl styrene market owing to its use in plastic adhesive industry. Further, market is expected to increase with growing packaging industry. Middle East and Africa is at a nascent stage and depicts moderate growth with its use in super plasticizers for high end constructions and skyscrapers like Burj Khalifa and Burj Al Arab. Prevailing construction industry has augmented its use.
Prominent players of alpha methyl styrene market are Ineos, Honeywell, Cespa, SANORS, Novapex, United Petrochemical Company, Mitsubishi Chemical, Taiwan Prosperity Company, Axiall, Solway, Rhodia and DOMO Chemicals to name a few. Companies are adopting merger and acquisition strategy to enhance their share. Ineos has acquired 50% share of BASF in Styrolutin and increased its production of alpha methyl styrene by constructing new plant at Altamira, Mexico.
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