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Alpha-Methylstyrene Market Size

Report ID: GMI5982
Published Date: Jun 2023
Report Format: PDF

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Alpha-Methylstyrene Market Size

Alpha-Methylstyrene Market size valued at USD 505.68 Million in 2022 and is forecasted to observe over 3.2% CAGR from 2023 to 2032. With the expanding plastic and rubber industries worldwide, the demand for Alpha-Methylstyrene is estimated to witness significant growth. The construction industry plays a crucial role in driving the demand for Alpha-Methylstyrene-based products. As urbanization and infrastructure development projects continue to expand, the demand for Alpha-Methylstyrene is expected to rise.

Alpha-Methylstyrene Market

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Styrenic polymers, including acrylonitrile butadiene styrene (ABS) and styrene acrylonitrile (SAN), are extensively used in various applications, such as automotive parts, appliances, consumer goods, and packaging. Alpha-Methylstyrene is a vital component in the production of these polymers, and the increasing demand for styrenic polymers is positively impacting the alpha-methylstyrene industry.

Alpha-Methylstyrene Market Report Attributes
Report Attribute	Details
Base Year:	2022
Alpha-Methylstyrene Market Size in 2022:	505.68 million USD
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	3.2%
2032 Value Projection:	692.90 million USD
Historical Data for:	2018 to 2022
No. of Pages:	228
Tables, Charts & Figures:	246
Segments covered:	Purity Level, Application, End-Use and Region
Growth Drivers:	Growth in the Plastic and Rubber Industry Rising Demand for Styrenic Polymers Growing Construction Sector
Pitfalls & Challenges:	Environmental and Health Concerns

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Alpha-methylstyrene is classified as a hazardous substance and can pose health and safety risks if not handled properly. Strict environmental regulations and increasing concerns over the toxicity of chemical substances can lead to compliance challenges and increased scrutiny for Alpha-Methylstyrene manufacturers. This may result in additional costs for regulatory compliance and potential limitations on its usage.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of alpha-methylstyrene reached USD 505.68 million in 2022 and is predicted to cross USD 692.90 million by 2032 driven by the expanding plastic and rubber industries worldwide.

The paints and coatings application segment held 22.9% of the market share in 2022 due to the rising need for high-quality and long-lasting coatings.

U.S. dominated the North America alpha-methylstyrene industry and reached USD 140 million in revenue in 2021 owing to the significant construction and infrastructure development, including residential, commercial, and industrial projects.

Some of the key alpha-methylstyrene market players include INEOS Group Holdings S.A., Chevron Phillips Chemical Company LLC, AdvanSix Inc., Mitsui Chemicals, Inc., and Kumho P&B Chemicals Inc.