Increasing Adoption in the Automotive Industry along with the Construction and Others has Propelled the Growth of the Methyl Acrylate Monomers Market in the APAC Region!
- Vikas Kumar
- May 15, 2023
- CHEMICAL, NEWS
- Methyl Acrylate Monomers Market, Methyl Acrylate Monomers Market Forecast, Methyl Acrylate Monomers Market Growth, Methyl Acrylate Monomers Market Share, Methyl Acrylate Monomers Market Size, Methyl Acrylate Monomers Market Trends
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Methyl acrylate monomers are widely used in the production of acrylic polymers and resins, which find application in various end-use industries, including coatings, adhesives, and sealants. These materials offer several advantages, including excellent adhesion, weather resistance, and durability, which make them suitable for use in high-performance applications. Methyl acrylate monomers are also used in the production of emulsions and dispersions, which find application in the paper and textiles industry. Additionally, they are used as a feedstock in the production of other chemicals, including methacrylic acid, which finds application in the production of polymers and coatings. The increasing adoption of methyl acrylate monomers in various end-use industries, coupled with the growing focus on sustainability, has propelled the growth of the market in recent years.
Further, the Methyl Acrylate Monomers Market is expected to grow at a strong CAGR of 5.0% during the forecast period (2022-2028). APAC is anticipated to emerge as the fastest-growing methyl acrylate monomers market. The Asia Pacific region has witnessed significant growth in the methyl acrylate monomers market due to the increasing adoption of this chemical compound in various industries such as automotive and construction. Methyl acrylate monomers are widely used in the production of acrylic resins, which find application in a range of products including coatings, adhesives, and sealants. These products are extensively used in the automotive industry for providing a glossy finish to automobiles, protecting them from corrosion, and improving their durability. Moreover, the growing demand for lightweight and fuel-efficient vehicles has led to an increased usage of acrylic resins in the automotive industry. Apart from the automotive industry, the construction industry is also a major contributor to the growth of the methyl acrylate monomers market in the Asia Pacific region. Methyl acrylate monomers are used in the production of acrylic polymers that are extensively used in construction materials such as sealants, coatings, and adhesives. The rising demand for sustainable and energy-efficient buildings has led to an increased usage of acrylic polymers in the construction industry. Furthermore, the growth of other industries such as packaging, textiles, and healthcare has also contributed to the increasing demand for methyl acrylate monomers in the Asia Pacific region. With the growing awareness about the benefits of using acrylic-based products, the demand for methyl acrylate monomers is expected to continue to rise in the coming years. This is likely to create lucrative opportunities for manufacturers and suppliers of methyl acrylate monomers in the region, thereby boosting the growth of the market.
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FIG. 1 APAC Methyl Acrylate Monomers Market Revenue (2020-2028)- USD Mn
For a detailed analysis of the Global Methyl Acrylate Monomers Market browse through:- https://univdatos.com/report/methyl-acrylate-monomers-market/
• Based on derivatives, the market is segmented into methyl methacrylate, butyl methacrylate, ethyl methacrylate, and others. The 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, 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.
Global Methyl Acrylate Monomers Market Segmentation
Market Insight, by Derivatives
- Methyl Methacrylate
- Butyl Methacrylate
- Ethyl Methacrylate
- Others
Market Insights, by End-Users Industry
- Architecture & Construction
- Automotive
- Electrical & Electronics
- Paints & Coating
- Others
Market Insight, by Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- APAC
- China
- Japan
- India
- Rest of APAC
- Rest of the World
Top Company Profiles
- BASF SE
- Merck KGaA
- TCI America
- Evonik Industries AG
- DOW INC
- MITSUBISHI CHEMICAL HOLDINGS
- Jamorin International
- Kowa Company, Ltd
- Eastman Chemical Company
- Nippon Shokubai
