The global methacrylate monomers market size was US$ 10.1 billion in 2021. The global methacrylate monomers market size is estimated to reach US$ 15.5 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.9% during the forecast period from 2022 to 2030.
Methacrylate monomers are common industrial monomers that readily polymerize due to their highly reactive double bonds. Different by-products of methacrylate monomers exist such as methyl methacrylate, ethyl methacrylate, butyl methacrylate, glycidyl methacrylate, allyl methacrylate, stearyl methacrylate, cyclohexyl methacrylate, and others. They have large scope in applications of end-use sectors, including architectural, automotive, coatings and paints, electronics, and others.
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Factors Affecting Market Growth
The rise in population associated with fast urbanization has increased the growth of the construction and architecture sector as methacrylate monomers are mostly used as a binder for concrete admixtures, reactive road making, etc. Thus, these factors help in driving the global market.
Factors such as an increase in technological upgrades, disposable income, and an increase in original equipment manufacturers (OEMs) have led the automotive industry to notice substantial growth which led to the rise in the manufacture of methacrylate monomers. Thus, driving the global market.
There are several side effects associated with the use of methacrylate monomers such as skin irritation and slight eye irritation, which hinder the growth of the global market.
Factors such as the increase in population coupled with the emergence of advanced polymers have made customers more linear toward using polymer-based products such as lightweight, low cost, etc. This is expected to boost the global market in the growing polymer sector, thus, creating lucrative opportunities for the market.
Impact Analysis of COVID-19
COVID-19 had negatively impacted the global market due to its dependence on construction and building, electrical, automotive, electronics, and other sectors. The sale of passenger vehicles, commercial vehicles, and two-wheeler vehicles has declined in March 2020. In addition, many automotive companies have either closed or scaled down their operations owing to the risk of infection among employees. This has temporarily hindered the growth of the global market. Moreover, the healthcare industry has shown remarkable growth during the COVID-19 period where polymerized methacrylate monomers are used in orthopedic surgery and dentistry.
Regional Analysis
The Asia-Pacific dominated the global methacrylate market and is projected to grow at the highest CAGR during the forecast period in 2021. This is due to the growth in electronics, automotive, construction and building, and other sectors. Furthermore, the region has noticed fast growth in the automotive sectors where methacrylate monomer-based extruded acrylic sheets are used in thermoplastic mirrors, taillights, and different places in cars. This is expected to drive the growth of the global market in the region.
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Leading Competitors
The prominent players in the global methacrylate monomers market are:
Eastman Chemical Company
Jamorin International
Kowa Company, Ltd
MITSUBISHI CHEMICAL HOLDINGS
DOW INC.
Evonik Industries AG
Merck KGaA
Arkema S.A
TCI America
BASF SE
Others
Segmentation Analysis
The global methacrylate monomers market segmentation focuses on Derivatives, End Use Industry, and Region.
Segmentation on the basis of Derivative
Butyl Methacrylate
Methyl Methacrylate
Ethyl Methacrylate
Others
Segmentation on the basis of End-Use Industry
Paints and Coatings
Electrical and Electronics
Architecture and Construction
Automotive
Others
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Segmentation on the basis of Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Methacrylate Monomers market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Methacrylate Monomers market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Methacrylate Monomers market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Methacrylate Monomers business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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