Emphasis on Derivatives (Methyl Methacrylate, Butyl Methacrylate, Ethyl Methacrylate, and Others); and End-Users (Architecture & Construction, Automotive, Electrical & Electronics, Paints & Coating, and Others); and Region/Country
The Methyl Acrylate Monomers Market was valued at USD 10,466.7 million in 2021 & is expected to grow at a CAGR of 5.0% from 2022-2028. 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. The methyl acrylate monomers market is expected to grow in the coming years, driven by increasing demand for polymers and other chemical products. The growing construction and automotive industries are expected to drive demand for products such as PMMA and PMA, which are widely used in these sectors. In the automotive industry, methyl acrylate monomers are used in the production of a variety of components, including body parts, bumpers, and interior trim. Acrylic polymers made from methyl acrylate are highly durable, scratch-resistant, and have excellent weatherability, making them ideal for use in automotive applications where performance and durability are critical. In the paint, coating, and adhesive industry, methyl acrylate monomers are used to produce a wide range of coatings and adhesives. Acrylic polymers made from methyl acrylate are highly resistant to UV light, chemicals, and weathering, making them ideal for use in exterior coatings, as well as in adhesives for bonding various substrates, including plastics, metals, and composites. Additionally, the ability to customize the properties of acrylic polymers by adjusting the ratio of methyl acrylate to other monomers allows manufacturers to tailor the performance characteristics of their products to specific applications.
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. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst derivatives, the methyl methacrylate segment held a dominating share of the market in 2021”
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.
“Amongst end-user industry, the paints and coating segment register significant CAGR during the forecast period”
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 registers a 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.
“Asia-Pacific dominated the Methyl Acrylate Monomers market in 2021”
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 support 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.
Methyl Acrylate Monomers Market Report Coverage
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Methyl Acrylate Monomers Market Covid-19 Impact
6. Global Methyl Acrylate Monomers Market Revenue, 2020-2028f
7. Market Insights By Derivatives
8. Market Insights By End-users Industry
9. Market Insights By Region
10. Methyl Acrylate Monomers Market Dynamics
11. Methyl Acrylate Monomers Market Opportunities
12. Methyl Acrylate Monomers Market Trends
13. Demand And Supply-side Analysis
14. Value Chain Analysis
15. Pricing Analysis
16. Strategic Insights
17. Competitive Scenario
18. Company Profiled
19. Disclaimer
Research Methodology for the Methyl Acrylate Monomers Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global methyl acrylate monomers market were the three major steps undertaken to create and analyze the adoption of methyl acrylate monomers in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global methyl acrylate monomers market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the methyl acrylate monomers market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the methyl acrylate monomers market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as derivatives and end-users’ industry. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the methyl acrylate monomers market. Further, we conducted factor analysis using dependent and independent variables such as derivatives and end-users industry of the methyl acrylate monomers market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the methyl acrylate monomers market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global methyl acrylate monomers market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global methyl acrylate monomers market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, technology, and end-users in the global Methyl Acrylate Monomers market.
The main objective of the Global Methyl Acrylate Monomers Market Study
The current & future market trends of the global methyl acrylate monomers market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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