[FURL=https://www.industryarc.com/Research/Methacrylate-Monomers-Market-Research-500033]Methacrylate Monomers Market[/FURL] size is forecast to reach $12.11 billion by 2025, after growing at a CAGR of 4.50% during 2020-2025. Methacrylate is a family of compounds that originates from methacrylic acid. Methacrylate is produced by reacting methacrylic acid with appropriate alcohol. Methacrylate monomers are primarily used as building blocks of acrylic-based polymerization products. They are polymerized to form polymethylacrylate, which is further employed in several applications. It can be derived to form a wide range of compounds, which can be used in industries such as paints & coatings, adhesives & sealants, and plastics.Key Takeaways
Asia-Pacific is expected to dominate the global market during the forecast period, owing to low production costs in the region.
Methacrylate monomers are used to create molded parts, with outstanding surface hardness, UV, and abrasion resistance.
Recycling ability and inexpensive nature of methacrylate compounds are estimated to boost the methacrylate monomers market in the forecast period.
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Methacrylate Monomers Market Segment Analysis - Geography
Asia Pacific dominated the methacrylate monomers market with a share of more than 39%, followed by North America and Europe. This is primarily because of higher demand from the automotive sector and construction sector due to a growing population. The rapidly increasing population and the presence of developing economies are expected to boost residential construction. Many methacrylate monomers manufacturers are setting up or expanding their manufacturing bases in Asia Pacific to capitalize on the low manufacturing costs. The huge demand from signs & displays, architectural and construction, and automotive industries is driving the growth of the methacrylate monomer market in Asia Pacific. Rapid urbanization and industrialization in the emerging nations, such as Japan, China, India, and others will fuel the growth of the market in the Asia Pacific region.
Methacrylate Monomers Market Drivers
Increase in demand from various end-users of the product.
The wide range of applications of methacrylate-based monomers in the automotive sector will fuel the growth of the market. For example, these products can be used to create interior accessories like holders for yachts and sailing boats; acrylic sheet for caravan window glazing; coatings for automotive topcoats & refinishing; and interior & exterior panels, trim, bumpers, fenders and other molded parts.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the methacrylate monomers market. In 2019, the market of methacrylate monomers has been consolidated by the top five players accounting for xx% of the share. Major players in the methacrylate monomers market are Mitsubishi Chemical, Evonik Industries, Dow Chemical, Eastman Chemical Company, Sumitomo Chemical, LG Chem, Arkema, Hitachi Chemical, Nippon Shokubai, among others.
Acquisitions
In January 2018, MPD Chemicals LLC has completed the acquisition of Norquay Technology. With the completion of this acquisition, MPD are expected to have expanded their product offerings and solutions portfolio for organic and inorganic chemicals significantly.