Global Alpha-Methylstyrene (AMS) Market is Growing at the CAGR of 3.0% in the Forecast Period
Published | 22 September 2021
Global alpha-methylstyrene (AMS) market is growing at a high CAGR because of the increasing demand in end-user industries such as waxes, paints, coatings, etc., expanding application alpha-methylstyrene (AMS) in construction activities because of its impact and heat resistance.
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that global alpha-methylstyrene (AMS) market was worth USD 426.3 million in the year 2020. According to the study, the market is estimated to grow at a CAGR of 3.0%, earning revenue of around USD 521.3 million by the end of 2027. The growth of the global alpha-methylstyrene (AMS) market is attributed to its increasing demand in end-user industries, such as waxes, paints and coatings, perfumes, antioxidants, chemical intermediates, etc. Construction activities are increasing at a rapid rate, especially in emerging economies for infrastructural development purposes. The expanding application of alpha-methylstyrene (AMS) in construction activities because of its impact and heat resistance properties is significantly propelling the demand for alpha-methylstyrene (AMS). However, the negative health effects associated with the alpha-methylstyrene (AMS) may act as a major restraint for the global alpha-methylstyrene (AMS) market growth.
Expanding Automobile Production Is Expected to Drive the Global Alpha-Methylstyrene (AMS) Market
Globally, the automobile industry is contributing significantly to the growth of the alpha-methylstyrene (AMS) market. The heat-resistant properties of Alpha-Methylstyrene (AMS) make it optimal for automobile production. It is used as a replacement for ABS resins owing to its unique properties. The chemical is also extensively used in the manufacture of automotive exterior frames. The demand for alpha-methylstyrene (AMS) is likely to rise during the forecast period, owing to the increasing production of cars and electric vehicles. Moreover, as plasticizers, waxes, adhesives, and coatings become more popular in the automotive industry, the global market for alpha Methylstyrene is likely to grow over the next few years.
Increasing Demand for Consumer Goods Products Is Propelling the Global Alpha-Methylstyrene (AMS) Market Growth
Alpha-Methylstyrene (AMS) is widely used in the production of electronic appliances and protective coatings. It is also used to improve the impact- and heat-resistance properties, such as specialty grades of plastic, rubber, and adhesives. The chemical also finds use in a wide array of products, such as perfumes, drying oil, lubricating oil, etc. Because of this, alpha-methylstyrene (AMS) is experiencing a sharp rise in its demand, especially in China, a global manufacturing leader.
Global Alpha-Methylstyrene (AMS) Market - By Application
Based on applications, the global alpha-methylstyrene (AMS) market is segmented into resins (acrylonitrile-butadiene-styrene), plasticizer, adhesives, paints, and coatings, waxes, finishing agents, perfumes, chemical intermediates, and others. The Resin (acrylonitrile-butadiene-styrene) segment holds the largest market share due to its heat stability and impact resistance properties. Because of this, it is used extensively in a variety of end-user industries, including construction, automotive, and electronics. The growing use of alpha-methylstyrene (AMS) as a chemical intermediate for manufacturing plasticizers, resins, and polymers is also gaining traction. It is expected to drive the global alpha-methylstyrene (AMS) market in the forecast period.
Request For Free Sample Report @ Click here
Global Alpha-Methylstyrene (AMS) Market - Regional Insights
Geographically, the global alpha-methylstyrene (AMS) market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among all the regions, the Asia-Pacific accounts for the largest market share. Chinese and Indian economies are among the most promising in terms of manufacturing and production. Alpha-methylstyrene (AMS) market growth in Asia-Pacific is being driven by the expanding industrialization of these regions and the growing automobile industry. Furthermore, North America also covers a substantial share in the market because of the increasing construction activities for infrastructural development purposes.
Impact of COVID-19 on Global Alpha-Methylstyrene (AMS) Market
The COVID-19 pandemic negatively impacted the global alpha-methylstyrene (AMS) market. The manufacturing and product operations of end-user industries, such as chemical intermediates, paint, coatings, perfumes, antioxidants, etc., were restricted due to lockdown and labor shortages. As a result, the demand for alpha-methylstyrene (AMS) fell indiscriminately, incurring severe losses to the market. Also, imports, exports, and distribution channels were restricted, resulting in unmet demand. Thus, it negatively affected the global alpha-methylstyrene (AMS) market.
The leading players in the global alpha-methylstyrene (AMS) market are Altiva Corp., Cepsa, Mitsui Chemicals Inc, Ineos Phenol, AdvanSix, Rosneft, SI Group Inc, DOMO Chemicals, Kumho P&B Chemicals, Taiwan Prosperity Chemical Corp, Yangzhou Lida Chemicals, Mitsubishi Chemical Corporation, Solvay SA, Rhodia, Versalis SPA, Sunoco Chemicals, Parasol Chemicals Pvt. Ltd, The Plaza Group, Banner Chemicals Ltd, United Petrochemical Company, and other prominent players.
The market is highly fragmented, with the presence of various industry players. The market players focus on offering products at competitive prices and quality to improve their product penetration and expand their consumer base. Furthermore, the adoption of competitive strategies, such as partnerships, mergers, collaborations, acquisitions, etc., is very prominent in this market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global alpha-methylstyrene (AMS) market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global alpha-methylstyrene (AMS) market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
BlueWeave Consulting & Research Pvt. Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
Recent Press Releases
- Saudi Arabia Biodegradable Plastics Market on a Upward Growth Trajectory: Projected to Grow at a CAGR of 16.2% by 2027
- Saudi Arabia Plant Growth Regulators Market Charting an Impressive Growth Trajectory: Growing at a CAGR of 7.0% by 2027
- Global Epoxy Molding Compound Market to Reach the Turnover of USD 289.65 Million by 2026
- Global Propylene Market to Boost In Coming Years – Projected To Reach 132.1 Metric Tons In 2028
- Polyethylene Terephthalate (PET) Resin Market to Boost in Coming Years – Projected to Reach Worth 114.7 Million Tons in 2028
- Global Benzene Market to Boost in Coming Years – Projected to Reach Worth 58 Million Tons in 2028