Methyl Acrylate Monomers Market: Current Analysis and Forecast (2022-2028)

Methyl Acrylate Monomers Market: Current Analysis and Forecast (2022-2028)

Methyl acrylate is a monomer used in the production of a wide range of polymers, including acrylics, adhesives, coatings, and resins. It is a clear, colourless liquid with a pungent odour. Methyl acrylate is typically produced by the esterification of acrylic acid with methanol in the presence of a catalyst. The resulting product can then be purified by distillation. Methyl acrylate is highly flammable and can be toxic if inhaled, so proper handling and safety precautions are essential. It should be stored in a cool, dry place away from heat sources and oxidizing agents. In the polymerization process, methyl acrylate can be polymerized by a variety of methods, including free radical, anionic, and cationic polymerization. The resulting polymers can have a range of properties depending on the specific polymerization method used and the other monomers incorporated into the polymer chain.

The Methyl Acrylate Monomers Market is expected to grow at a strong CAGR of 5% during the forecast period owing to the increasing utilization in many polymerization processes due to their relatively low viscosity and low glass transition temperature, which makes them suitable for use in coatings, adhesives, and other applications that require flexibility and toughness. Also, there have been several advancements in polymer technology that have led to the development of new and innovative applications for methyl acrylate monomers. For instance, the development of superabsorbent polymers (SAP) for use in disposable hygiene products has led to an increase in demand for methyl acrylate monomers.

• Based on derivatives, the market is segmented into methyl methacrylate, butyl methacrylate, ethyl methacrylate, and others. Methyl methacrylate is expected to witness a significant market share during the forecast period. There are several factors that are driving the growth of the MMA market, including increasing demand for polymers and plastics, the rapid growth of the construction industry, rising demand for medical devices, technological advancements, and regional factors. The growing demand for lightweight and durable materials in various industries such as automotive, construction, and electronics has led to an increase in demand for polymers and plastics, which in turn has driven the growth of MMA.
• On the basis of end-users, the market is segmented into architecture & construction, automotive, electrical & electronics, paints & coating, and others. The paints and coating segment register significant CAGR during the forecast period owing to the increasing demand for eco-friendly paints and coatings. Methyl acrylate is a low-VOC (volatile organic compounds) material that emits fewer harmful pollutants, making it an excellent choice for eco-friendly products. Another factor driving the growth of methyl acrylate is the increasing demand for high-performance coatings. Methyl acrylate is known for its excellent adhesion and chemical resistance properties, which make it ideal for use in industrial coatings. Additionally, it provides excellent weather resistance and UV stability, making it suitable for use in exterior paints and coatings. 
• For a better understanding of the market adoption of the methyl acrylate monomers industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, France, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Rest of World. Asia-Pacific dominated the methyl acrylate monomers market in 2021 due to the growing construction industry which has increased the demand for adhesives and coatings and supported the market growth. Also, with rapid urbanization and population growth, countries such as China and India have been investing heavily in infrastructure projects, leading to a rise in construction activities and consequently increasing demand for methyl acrylate. In addition, the growing automotive industry in the Asia-Pacific region is another major factor driving the demand for methyl acrylate. With rising incomes and changing lifestyles, there has been a surge in demand for automobiles in the region, leading to an increase in the production of automotive coatings and adhesives that utilize methyl acrylate. Further, the availability of raw materials and lower production costs in the Asia-Pacific region has made it an attractive destination for methyl acrylate manufacturers. The region is home to several large chemical companies with established supply chains and distribution networks, leading to increased production and supply of methyl acrylate in the region.
• Some of the major players operating in the market include BASF SE, Merck KGaA, TCI America, Evonik Industries AG, DOW INC, MITSUBISHI CHEMICAL HOLDINGS, Jamorin International, Kowa Company, Ltd, Eastman Chemical Company, and Nippon Shokubai.