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Attractive Opportunities in Alpha-Methylstyrene Market

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Rohna Patnakar
Attractive Opportunities in Alpha-Methylstyrene Market

The Alpha-Methylstyrene Market in Asia Pacific is projected to grow at the highest CAGR in terms of both, value and volume during the forecast period.

The alpha-methylstyrene market in Asia Pacific is projected to grow at the highest CAGR in terms of both, value and volume from 2019 to 2024. China, India, Japan, and South Korea are key countries contributing to the increased demand for alpha-methylstyrene in this region.

Innovations in production techniques of electronic appliances, rise in population, and increase in the income of the middle class population of the region, have resulted in increased demand for consumer durables and automobiles in Asia Pacific, thereby contributing to the growth of the alpha-methylstyrene market in this region.

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The ABS segment is projected to lead the alpha-methylstyrene market in terms of both, value and volume during the forecast period.

Based on application, the ABS segment of the alpha-methylstyrene market is projected to grow at the highest CAGR from 2019 to 2024, in terms of both, value and volume. Alpha-methylstyrene is primarily used in the production of ABS as it improves the heat stability and impact resistance of ABS resins. Increased demand for ABS resins from various end-use industries such as automotive and electronic appliances is driving the growth of the ABS segment of the alpha-methylstyrene market, worldwide.

INEOS Group Holding S.A. (Switzerland), AdvanSix (US), Rosneft (Russia), Altivia Corp. (US), SI Group Inc. (US), 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 leading players operating in the alpha-methylstyrene market.

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Recent Developments

  • In May 2018, INEOS Phenol, a subsidiary of INEOS Group Holdings S.A., built a world scale Cumene unit in Germany that is expected to be completed by 2020. The unit is to be located in Chemiepark in Marl (Germany) so that it can access existing pipeline connections between phenol acetone production site of INEOS in Gladbeck (Germany) and Evonik Chemiepark in Marl (Germany), in addition to the British Petroleum refinery and cracker complex in Gelsenkirchen (Germany). The establishment of this new cumene plant aimed at catering to the increased customer demand for phenol and acetone and improving the security of raw material supply to INEOS Phenol and acetone plants located in Gladbeck (Germany) and Antwerp (Belgium).
  • In January 2019, Mitsui Chemicals, Inc. (Japan) announced its intention to begin the production of alpha-methylstyrene by 2020 at its Singapore-based subsidiary, Mitsui Phenols Singapore Pte. Ltd. This expansion aims at catering to the increased demand for alpha-methylstyrene across the globe due to rise in the consumption of ABS resins and petroleum resins in various end-use industries. The expansion is expected to enhance the 3-base network of the company comprising Japan, Singapore, and China.

 

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