Global 2-Hydroxyethyl Methacrylate Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global 2-Hydroxyethyl Methacrylate Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

2-Hydroxyethyl Methacrylate (abbreviated as HEMA), is a Colorless transparent liquid with the molecular formula of C6H10O3 and CAS number 868-77-9. HEMA is the monomer that is mainly employed to fabricate acrylic resin, acrylic coatings, textile agent, adhesive and the additive of decontaminating and lubricant.

Market Overview:

The latest research study on the global 2-Hydroxyethyl Methacrylate market finds that the global 2-Hydroxyethyl Methacrylate market reached a value of USD 554.04 million in 2022. It’s expected that the market will achieve USD 857.92 million by 2028, exhibiting a CAGR of 7.56% during the forecast period.

Market Drivers

For the 2-Hydroxyethyl Methacrylate industry, its market size is mainly driven by downstream demand. 2-Hydroxyethyl Methacrylate is widely used in dental and orthopaedic materials due to its easy self-polymerization and no physiological rejection of self-polymers. Copolymers of HEMA and other acrylic monomers can produce acrylic resins containing active hydroxyl groups. This class of resins has exceptional light selectivity, transparency and weatherability. It can be used as an adhesive for synthetic textiles, a main material for contact lenses, a raw material for photosensitive resins, and a stabilizer for anaerobic adhesives and other products. 2-Hydroxyethyl Methacrylate can also be combined with melamine aldehyde resin, epoxy resin and other cured products to make two-component coatings. In addition, it can carry out esterification reaction and cross-linking reaction, synthesize insoluble resin and improve adhesive properties, and is widely used in non-woven adhesives, thermosetting coatings, adhesives, polymer modification and fiber processing and other fields.

Therefore, 2-Hydroxyethyl Methacrylate is widely used in the fields of resins, coatings and rubber modification to produce modified acrylic resins, two-component coatings, advanced automotive paints, synthetic fiber adhesives and other products. In general, due to its unique performance characteristics, HEMA has become one of the special methacrylates with more research, greater value and greater market demand in the global market.

Market Challenges

There are technical and talent barriers for the 2-Hydroxyethyl Methacrylate industry. The 2-Hydroxyethyl Methacrylate industry requires strong overall technical strength, in which process technology, quality control level and some customized production equipment are very important, requiring a long time of practice and accumulation. In particular, it is difficult to master key technologies such as equipment applicability and process control. Therefore, only companies that master core technologies and have strong new product research and development capabilities and higher production technology levels can gain market leadership. At the same time, with the continuous development of the global national economy and the continuous progress of science and technology, the consumer demand for 2-Hydroxyethyl Methacrylate products in downstream coatings, adhesives and other industries continues to upgrade. Enterprises must promote product upgrades through continuous research and development. Therefore, the fine chemical industry has high technical barriers.

On the other hand, for the 2-Hydroxyethyl Methacrylate industry, the purification method and preparation process of its products require constant innovation by R&D personnel. Therefore, for enterprises, excellent product application R&D talents and professional management personnel and engineering technicians trained through long-term production practice form a talent barrier.

Region Overview:

Asia Pacific had the highest growth rate of all regions.

Company Overview:

The top three companies are Evonik, Mitsubishi Rayon, Nippon Shokubai with the revenue market share of 29.34%, 12.82%, 7.36% in 2022.

Evonik is one of the world's leading specialty chemical companies. Evonik may not make tires, mattresses, medicines or animal feed, but Evonik is part of all of them-and more. The company is active in more than 100 countries worldwide. Evonik goes beyond chemistry to create innovative, profitable and sustainable solutions for its customers.

On October 20, 2021, Evonik expands production of organic dispersions for heat sealing applications. The significantly expanded plant in Darmstadt has been supplying additional material since the beginning of August 2021. The specialty chemicals company is supporting its customers in the packaging industry and their need for easier-to-recycle plastic packaging. Evonik markets methacrylate adhesives under the DEGACRYL brand name.

MGC is one of Japan's leading chemical manufacturers. MGC's products cover a wide range of fields from natural gas to basic chemicals used in daily life, fine chemicals and functional materials requiring advanced technological capabilities. MGC also uses proprietary technology to develop new materials to create valuable products that society needs.

Segmentation Overview:

As for product types, the 97%--99% segment held the largest market share in 2021.

Application Overview:

By application, the Coatings & Reactive Resins segment occupied the biggest share from 2017 to 2022.

Key Companies in the global 2-Hydroxyethyl Methacrylate market covered in Chapter 3:

Hickory
Fangda Chem
Anhui Renxin
Zibo Xinglu Chemical
Dow
Geo
Hechuang Chem
Evonik
Nippon Shokubai
Mitsubishi Rayon

In Chapter 4 and Chapter 14.2, on the basis of types, the 2-Hydroxyethyl Methacrylate market from 2018 to 2029 is primarily split into:

93%--97%
97%--99%
Above 99%

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the 2-Hydroxyethyl Methacrylate market from 2018 to 2029 covers:

Coatings & Reactive Resins
Adhesives
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)