Alpha-Methylstyrene Market is poised to grow at a rapid rate by 2024

Alpha-Methylstyrene Market by Application (ABS, Para-Cumylphenol, Adhesives & Coatings, Waxes), Purity (Assay above 99.5% and between 95% and 99.5%), Region (Asia Pacific, Europe , North America, Middle East and Africa, South America) – Global Forecast to 2024

the alpha-methylstyrene market is expected to grow from USD 473 million in 2019 to USD 543 million by 2024, at a CAGR of 2.8% from 2019 to 2024. Rising demand for acrylonitrile butadiene styrene (ABS), which uses alpha- Methylstyrene, from various end-use industries such as automotive and electronic devices is one of the key factors driving the growth of the alpha-methylstyrene market across the globe.

INEOS Group Holding SA (Switzerland), AdvanSix (USA), Rosneft (Russia), Altivia Corp. (USA), SI Group Inc. (USA), 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 major players operating in the alpha-methylstyrene market. These players have adopted strategies of expansion, new product development, acquisitions and joint ventures to strengthen their position in the market.

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In January 2019, Mitsui Chemicals, Inc. (Japan) announced plans to begin production of alpha-methylstyrene by 2020 at its Singapore-based subsidiary, Mitsui Phenols Singapore Pte. ltd. This expansion is to meet the increased demand for alpha-methylstyrene worldwide due to the increased consumption of ABS resins and petroleum resins in various end-use industries. The expansion is expected to strengthen the company’s 3-base network including Japan, Singapore and China. This expansion also aims to strengthen the company’s position in the Asia-Pacific alpha-methylstyrene market.

In October 2015, INEOS Americas LLC (Switzerland), a subsidiary of INEOS Group Holdings SA, acquired the aromatics business of Axiall Corporation, a leading North American manufacturer of chlorovinyl and aromatics. An amount of $52.4 million was paid upon closing of the transaction, and an additional $10.5 million was paid upon meeting certain conditions. This development involved the acquisition of Axiall Corporation’s Texas-based cumene plant producing 900,000 tonnes of cumene. In addition, it also involved transferring the phenol, acetone and alpha-methylstyrene business to the INEOS Phenol plant in Mobile, Alabama (USA).

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