According to a new report, published by KBV research, 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).
Another innovative trend is the utilization of AMS in developing high-performance materials with enhanced properties, such as flame retardancy, chemical resistance, and mechanical strength. Manufacturers can tailor material properties by incorporating AMS into polymer formulations and specialty chemicals to meet specific performance requirements for diverse applications, ranging from electronics and automotive to aerospace and construction. By incorporating AMS into polymers such as polyethylene (PE), polypropylene (PP), and polystyrene (PS), manufacturers can improve the flame retardancy of plastics used in various applications, including electronics, construction materials, and automotive components.
The >99.5% segment is leading the Global Alpha-methylstyrene Market by Purity in 2023 thereby, achieving a market value of $406.8 million by 2031. Industries such as electronics, pharmaceuticals, and specialty chemicals often demand AMS with purity levels exceeding 99.5% to meet stringent quality and performance requirements. High-purity AMS ensures minimal impurities and contaminants, which is essential for critical applications where even minor variations in composition can have significant implications on product performance, reliability, and safety. Thus, these factors can help in the growth of the alpha-methylstyrene market.
The Electronics segment is anticipated to have a CAGR of 2.7% during (2024 - 2031). Alpha-methylstyrene produces dielectric materials and insulation components for electronic devices and electrical systems. With the growing electronics sector, there will be increased demand in the segment. As per Invest India, the nation's electronics production will be $300 Bn by FY26. The domestic production of electronics is valued at $101 Bn in FY23 and is segmented (based on FY22 data) as Mobile Phones (43%), IT Hardware (5%), and Consumer Electronics (12%). Therefore, these factors will pose lucrative growth prospects for the segment.
Full Report: https://www.kbvresearch.com/alpha-methylstyrene-market/
The Asia Pacific region dominated the Global Alpha-methylstyrene Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $246,573.2 Thousands by 2031. The North America region is experiencing a CAGR of 2.5% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 2.7% during (2024 - 2031).
By Purity (Volume, Hundred Tonnes, USD Million, 2020-2031)
By End-use (Volume, Hundred Tonnes, USD Million, 2020-2031)
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