Methacrylate Monomers Market to Observe Prominent Growth of USD 17.32 billion by 2029 | Exactitude Consultancy

Methacrylate Monomers Market

Methacrylate Monomers Market is driven by innovation, sustainable practises, demand from the construction and automotive sectors.

LUTON, BEDFORDSHIRE, UNITED KINGDOM, November 20, 2023 /EINPresswire.com/ -- The global methacrylate monomers market size was valued at USD 10.86 billion in 2022, and projected to reach USD 17.32 billion by 2029, with a CAGR of 5.32% from 2023 to 2029.

Methacrylate monomers are chemical compounds that contain the methacrylate functional group. These monomers are commonly used in the production of polymers and resins, particularly in the manufacture of acrylic and methacrylic polymers. These polymers find applications in various industries, including adhesives, coatings, paints, medical devices, and automotive components.

Methacrylate monomers are a crucial type of industrial monomer that are used in many industries, including construction, automotive, aerospace, and architecture. Methacrylate serves as the fundamental building block for a wide range of acrylic applications utilized in several global sectors. The demand for methacrylate monomers has grown over time as a result of their application in expanding industries including construction and automotive. As a result, there is a need for substantial expenditures and improved production techniques in the methacrylate monomers industry globally. Specialty chemicals known as methacrylate monomers are used in coatings, paints, inks, adhesives, and other products. In order to increase compatibility, flexibility, impact resistance, heat resistance, and crosslinking, they can also be used as chemical intermediates. By minimizing the need for styrene replacement, enhancing surface stiffness, and increasing influence resistance, they help to improve the performance of advanced materials.

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Recent Development:

• June 06, 2023 – The Coating Additives business unit of Evonik added a new substantially cross linkable defoaming slip ingredient to its TEGO Rad line of customised silicone acrylates. In standard UV- and LED-cured formulations, the new TEGO^® Rad 2550 was a transparent, low viscosity liquid that efficiently reduced static and dynamic surface tension.

• May 02, 2023 – A formal agreement was signed by DuPont and AEA Investors for the purchase of Spectrum Plastics Group. Existing cash balances would be used to cover the acquisition price.

Asia Pacific held a commanding 43% share of the global market for methacrylate monomers, followed by North America and Europe.

This is mostly a result of rising demand from the building and automobile industries as a result of population growth. The population is expected to rise quickly, and developing economies will lead to more residential building. To benefit from lower production costs, several methacrylate monomer makers are constructing or expanding manufacturing facilities in Asia Pacific. Due to the strong demand from the signs and displays, architectural and construction, and automotive sectors, the methacrylate monomer market is growing in the Asia Pacific region. Market development will be fueled by the quick urbanization and industrialization of developing nations like Japan, China, India, and others.

Several Factors Influence the Methacrylate Monomers Market:

• End-Use Industries: Demand for methacrylate monomers is closely tied to the performance of industries such as construction, automotive, electronics, and healthcare. Growth or contraction in these sectors can impact the overall market.

• Economic Conditions: Economic conditions, both globally and regionally, play a significant role. Economic growth can stimulate construction and manufacturing activities, increasing the demand for products that use methacrylate monomers.

• Innovation and Technology: Advances in technology and innovation in the chemical industry can lead to the development of new applications for methacrylate monomers, influencing market growth.

• Environmental Regulations: Stringent environmental regulations can impact the choice of raw materials and production processes in the chemical industry, potentially affecting the methacrylate monomers market.

Methacrylate Monomers Market Technological Trends

• Sustainability and Green Chemistry:

o There is a growing emphasis on developing sustainable processes for the production of methacrylate monomers, reducing environmental impact, and ensuring the use of eco-friendly raw materials.

o Green chemistry initiatives focus on minimizing waste, energy consumption, and the use of hazardous substances in the production processes.

• Bio-based Methacrylate Monomers:

Research and development efforts have been directed toward the production of bio-based methacrylate monomers derived from renewable resources. This aligns with the broader trend of reducing dependence on fossil fuels.

• Functional Monomers for Specialty Applications:

Continued research into developing new methacrylate monomers with specific functionalities to cater to niche applications, such as in high-performance coatings, adhesives, and advanced materials.

• Improved Polymerization Techniques:

Advancements in polymerization techniques, including controlled/living radical polymerization, have been applied to methacrylate monomers to achieve better control over polymer properties and molecular weight distribution.

Methacrylate Monomers Market Players

• Arkema Group
• Ted Pella Inc.
• Estron Chemical Inc.
• DuPont de Nemours Inc.
• Hitachi Chemical Co. Ltd.
• Gantrade Corporation
• Mitsubishi Chemical Corporation
• Nippon Shokubai Co. Ltd.
• Evonik Industries
• Eastman Chemical Company
• BASF SE
• Melrob Group

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Key Market Segments: Methacrylate Monomers Market

Methacrylate Monomers Market by Derivative, 2023-2029, (USD Billion) (Kilotons)

• Methyl Methacrylate
• Butyl Methacrylate
• Ethyl Methacrylate
• Stearyl Methacrylate
• Others

Methacrylate Monomers Market by Application, 2023-2029, (USD Billion) (Kilotons)

• Acrylic Sheets
• Molding
• Paints & Coatings
• Adhesives & Sealants
• Composites
• Additives
• Others

Methacrylate Monomers Market by End User, 2023-2029, (USD Billion) (Kilotons)

• Automotive
• Architecture & Construction
• Electronics
• IT & Communication
• Healthcare
• Industrial
• Others

Market Dynamics

Drivers:

• Growing Demand in End-Use Industries:

Methacrylate monomers find applications in various end-use industries such as automotive, construction, electronics, and medical. The growth of these industries, especially in emerging markets, is a significant driver for the methacrylate monomers market.

• Increasing Construction Activities:

Methacrylate monomers are used in the production of adhesives, coatings, and sealants, which are essential in construction activities. As construction projects increase globally, the demand for methacrylate monomers is likely to rise.

• Advancements in Medical Applications:

Methacrylate monomers play a crucial role in the medical sector, particularly in dental applications. Advancements in dental materials and medical adhesives contribute to the demand for methacrylate monomers.

Restraints:

• Volatility in Raw Material Prices:

The methacrylate monomers market is influenced by the prices of raw materials, such as methyl methacrylate (MMA). Fluctuations in raw material prices can impact the overall production cost, posing challenges for manufacturers.

• Environmental and Regulatory Concerns:

Environmental and regulatory concerns, including stringent regulations on the use of certain chemicals, can pose challenges for manufacturers. Compliance with environmental standards may require changes in manufacturing processes.

Opportunities:

• Technological Advancements:

Ongoing research and development efforts in the field of polymer chemistry and materials science may lead to the development of new and improved methacrylate monomers, creating opportunities for innovation and market growth.

• Emerging Applications:

The discovery of new applications for methacrylate monomers in industries such as electronics, healthcare, and aerospace could open up new avenues for market expansion.

Challenges:

• Global Economic Uncertainties:

Economic uncertainties and fluctuations in global markets can impact the demand for products that use methacrylate monomers. A slowdown in economic growth may affect construction and manufacturing activities.

• Competitive Landscape:

The market for methacrylate monomers is competitive, and companies face challenges in terms of pricing, product differentiation, and market share. Adapting to changing market dynamics and maintaining a competitive edge can be challenging.

Key Question Answered

1. What is the expected growth rate of the methacrylate monomers market over the next 7 years?
2. Who are the major players in the methacrylate monomers market and what is their market share?
3. What are the end-user industries driving demand for market and what is their outlook?
4. What are the opportunities for growth in emerging markets such as Asia-Pacific, Middle East, and Africa?
5. How is the economic environment affecting the methacrylate monomers market, including factors such as interest rates, inflation, and exchange rates?
6. What is the expected impact of government policies and regulations on methacrylate monomers market?
7. What is the current and forecasted size and growth rate of the global methacrylate monomers market?
8. What are the key drivers of growth in the methacrylate monomers market?
9. Who are the major players in the market and what is their market share?

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