Methacrylate Monomers Market By Derivative (Methyl Methacrylate, Butyl Methacrylate, Ethyl Methacrylate, Others), By End Use Industry (Automotive, Architecture and Construction, Electrical and Electronics, Paints and Coatings, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global methacrylate monomers market was valued at $10.1 billion in 2021, and is projected to reach $16.2 billion by 2031, growing at a CAGR of 4.9% from 2022 to 2031.
Methacrylate monomers are common industrial monomers that easily form polymers owing to its highly reactive double bonds. Various derivatives of methacrylate monomers exist such as methyl methacrylate, butyl methacrylate, ethyl methacrylate, allyl methacrylate, glycidyl methacrylate, cyclohexyl methacrylate, stearyl methacrylate, and others. They find application in a wide range of end-use sectors including automotive, architectural, paints & coatings, electronics, and others.
Growth in population coupled with rapid urbanization has surged the growth of the architecture & construction sector in both developed and developing economies such as the U.S., China, India, and others, where methacrylate monomers are widely used as a binder for concrete admixtures, reactive road making, industrial flooring, and liquid waterproofing applications. This is expected to boost the demand for methacrylate monomers in the growing building & construction sector. Furthermore, factors such as increase in disposable income, technological upgrades, and spurring rise in original equipment manufacturers (OEMs) have led the automotive sector to witness a significant growth where methacrylate monomers are used in manufacturing automotive paints, illuminated light displays, and others. This may foster the growth of the methacrylate monomers market during the forecast period.
However, there are several side-effects associated with the use of methacrylate monomer. For instance, exposure to methacrylate monomer causes moderate skin irrigation and slight eye irritation. Furthermore, inhalation of mist or vapor can cause lung, throat, & nose irritation, and can be fatal if exposed beyond concentration limits. These factors may restrain customers from using methacrylate monomers; thus hampering the market growth.
On the contrary, factors such as rise in population coupled with emergence of advanced polymers have made customers more linear toward using polymer-based products. Furthermore, polymer offers various significant advantages such as low cost, lightweight, high strength, and increased lifecycle that make several end use sectors use polymers as a building block in product manufacturing where methacrylate monomers are used in production of homo- and copolymers in polymer sector. This is anticipated to surge the popularity of methacrylate monomers in the growing polymer sector; thus, creating lucrative opportunities for the market.
The methacrylate monomers market is segmented on the basis of derivative, end use industry, and region. On the basis of derivative, it is divided into methyl methacrylate, butyl methacrylate, ethyl methacrylate, and others. On the basis of end use industry, the market is classified into automotive, architecture & construction, electrical & electronics, paints & coatings, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global methacrylate monomers market profiles leading players that include Arkema S.A., BASF SE, DOW INC, Eastman Chemical Company, Evonik Industries AG, Jamorin International, Kowa Company, Ltd., Merck KGaA, Mitsubishi Chemical Holdings, and TCI America. The global methacrylate monomers market report provides in-depth competitive analysis as well as profiles of these major players.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the methacrylate monomers market analysis from 2021 to 2031 to identify the prevailing methacrylate monomers market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the methacrylate monomers market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global methacrylate monomers market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Derivative
Ethyl Methacrylate
Others
Methyl Methacrylate
Butyl Methacrylate
By End Use Industry
Automotive
Architecture and Construction
Electrical and Electronics
Paints and Coatings
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
BASF SE
TCI America
Arkema S.A
Merck KGaA
Evonik Industries AG
MITSUBISHI CHEMICAL HOLDINGS
DOW INC.
Kowa Company, Ltd.
Jamorin International
Eastman Chemical Company
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