Global Alpha-methylstyrene Market Size, Share & Trends Analysis Report By Purity (>99.5% and 95%-99%), By End-use (Automotive, Electronics, Chemical Manufacturing, Personal Care & Cosmetics and Others), By Regional Outlook and Forecast, 2024 - 2031

Global Alpha-methylstyrene Market Size, Share & Trends Analysis Report By Purity (>99.5% and 95%-99%), By End-use (Automotive, Electronics, Chemical Manufacturing, Personal Care & Cosmetics and Others), By Regional Outlook and Forecast, 2024 - 2031

The Global Alpha-methylstyrene Market size is expected to reach $608.5 million by 2031, rising at a market growth of 3.0% CAGR during the forecast period. In the year 2023, the market attained a volume of 2691.6 hundred tonnes, experiencing a growth of 14.6% (2020-2023).

As production capacity increases, so does the demand for raw materials such as AMS, which is vital in synthesizing a wide range of chemical products. AMS is utilized to produce a diverse array of chemicals, including phenolic resins, specialty polymers, and styrene-acrylic copolymers. Consequently, the chemical manufacturing segment would generate approximately 10.85 % share of the market by 2031. Also, Russia would utilize 43.89 hundred tonnes of 95%-99% pure Alpha-methylstyrene by 2031. These chemicals have applications across various industries, including coatings, adhesives, sealants, and specialty chemicals. The versatility of AMS as a chemical building block makes it indispensable for synthesizing these valuable products.

Polystyrene resins are renowned for their versatility and wide-ranging applications. They are utilized in packaging materials, including food packaging, disposable cups, and containers, owing to their lightweight, impact-resistant, and insulating properties. Hence, these aspects can lead to increased demand in the market.

Additionally, AMS is a key component in producing antioxidants, which are essential additives that inhibit the oxidation process in various industrial applications. Antioxidants help prevent degradation and extend the shelf life of products such as polymers, plastics, rubber, and lubricants. Therefore, these factors can pose lucrative growth prospects for the market.

However, The production of alpha-methylstyrene (AMS) is intricately linked to the availability and pricing of key raw materials, primarily cumene or acetone. Cumene and acetone, essential feedstocks for AMS production, may face availability fluctuations due to factors such as natural resource constraints, production capacity limitations, and operational disruptions in upstream industries. Thus, these factors can lead to reduced demand for alpha-methylstyrene in the coming years.

By Purity Analysis

Based on purity, the market is segmented into >99.5% and 95%-99%. In 2023, the 95%-99% segment garnered a 31.69% revenue share in the market. Higher purity levels in AMS translate to enhanced product quality, consistency, and performance in downstream applications. As a result, manufacturers and end-users increasingly seek AMS products with purity levels in the 95%-99% range to meet their demanding specifications and ensure optimal performance in their processes and products. Therefore, these aspects can help in the expansion of the segment.

By End-Use Analysis

On the basis of end-use, the market is divided into automotive, electronics, chemical manufacturing, personal care & cosmetics, and others. The automotive segment recorded a 38.96% revenue share in the market in 2023. In terms of volume, automotive segment would utilize 1,081.1 hundred tonnes of Alpha-methylstyrene in 2023. Automotive manufacturers increasingly focus on lightweighting initiatives to improve fuel efficiency and reduce vehicle emissions. AMS-based materials offer a lightweight alternative to traditional metal components, contributing to overall vehicle weight reduction without compromising strength or durability. Hence, these factors can assist in the growth of the segment.

By Regional Analysis

By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2023, the Europe segment acquired a 24.89 % revenue share in the market. Europe's plastics and resins industry has been a major driver of demand for AMS, with increasing adoption of AMS-based polymers and resins in various applications. AMS serves as a crucial monomer in the production of ABS resins, SAN resins, and other styrene-based polymers, which find applications in automotive components, consumer goods, electronics, and construction materials. Thus, these aspects will fuel the demand in the segment.

Recent Strategies Deployed in the Market

• 2023-Aug: INEOS Styrolution Group GmbH, a division of INEOS Group Holdings S.A., has introduced a new ASA "MED" material named Luran® S MED 797S SPF30, a member of the ASA product family Luran® S. Renowned for its robust property performance, Luran® S exhibits exceptional chemical resistance, UV resistance, and impact strength. The product demonstrates remarkable chemical resistance against alcohols such as IPA, ethanol, and propanol, as well as alcohol-based disinfectants. Additionally, it exhibits favorable resistance to quaternary ammonium or glutaral-based disinfectants, positioning it as a preferred material for clinical environments.
• 2023-Apr: INEOS Phenol Singapore PTE Limited, a division of INEOS Group Holdings S.A., has completed the acquisition of Mitsui Phenols Singapore Ltd, a division of Mitsui Chemicals Inc., a manufacturer of industrial chemicals. This acquisition strategically integrates Jurong phenol and BPA assets into INEOS Phenol's portfolio, aligning well with their existing assets. Additionally, it facilitates entry into the Asian market, enabling INEOS Phenol to better support the growth plans of their global customers.
• 2022-Jun: INEOS Phenol, a division of INEOS Group Holdings S.A., has introduced a new product line called INVIRIDIS, marking the first bio-attributed product line for phenol, acetone, and alphamethylstyrene (AMS). These products are manufactured without the use of fossil fuels as feedstock, signifying a significant innovation in the global phenol market. They offer a more environmentally friendly and sustainable alternative to traditional phenol, acetone, and AMS products.
• 2022-Apr: Kraton Corporation has boosted its AMS resin production capacity at the NIORT facility. This expansion initiative is targeted to elevate production by 15% at the site. Moreover, alongside capacity augmentation, Kraton expects this investment to result in a notable 70% reduction in solvent consumption, thus positively influencing the product's life cycle.

List of Key Companies Profiled

• AdvanSix Inc.
• Mitsui Chemicals, Inc.
• Cepsa Química, S.A. (Cepsa)
• Domo Chemicals GmbH
• INEOS Group Holdings S.A
• Kraton Corporation
• Kumho P&B Chemicals., Inc (Kumho Petrochemical Group)
• Mitsubishi Chemical Holdings Corporation
• Prasol Chemicals Ltd
• Solvay SA

Global Alpha-methylstyrene Market Report Segmentation

By Purity (Volume, Hundred Tonnes, USD Million, 2020-2031)

• >99.5%
• 95%-99%

By End-use (Volume, Hundred Tonnes, USD Million, 2020-2031)

• Automotive
• Electronics
• Chemical Manufacturing
• Personal Care & Cosmetics
• Others

By Geography (Volume, Hundred Tonnes, USD Million, 2020-2031)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA