Global Glycidyl Methacrylate Market: Overview
Glycidyl methacrylate (GMA) is an ester of methacrylic acid and glycidol. It is a common monomer used in the production of epoxy resins. GMA is also a high purity, dual functionality monomer ideally suited for coating and resin applications. The Glycidyl Methacrylate market has been expanding at a significant pace primarily due to the growth in polymer and adhesives industries. Epoxies contain diglycidyl ether of bisphenol A (DGEBA), while GMA is used to provide epoxy functionalization to polyolefins and other acrylate resins. Several global companies such as Dow Chemical produce GMA.
GMA is used in various applications, such as industrial & protective finishes and waterborne coating resins, to improve the physical and chemical properties of products the plastic segment of the Glycidyl Methacrylate market has been expanding substantially due to the extensive usage of GMA in adhesives, industrial coatings, and latex. Additionally, rise in investments in R& D activities is driving the Glycidyl Methacrylate market.
Based on application, the Glycidyl Methacrylate market can be divided into automotive coating, powder coating, radiation curable coating, industrial and protecting finishes, adhesives, and plastic modifiers. GMA allows copolymerization functionality with other vinyl monomers in non-aqueous and aqueous solutions, thus making these useful solutions in the packaging sector. GMA is also largely used in plastic modifiers such as PET, PVC, engineering thermoplastics, and rubber. Thus, it is useful in end-user industries such as packaging. Expansion in the polymer industry and rise in usage of plastics in the packaging industry are estimated to propel the Glycidyl Methacrylate market during the forecast period.
In terms of region, the Glycidyl Methacrylate market can be split into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific holds the major share of the global Glycidyl Methacrylate market. China is the leading country in the Glycidyl Methacrylate market owing to the rapid urbanization, growth in technology, and increase in investments in end-use industries. Rise in demand for Glycidyl Methacrylate in automotive, construction, paints & coatings, and packaging industries has boosted the Glycidyl Methacrylate market in China and India. The Glycidyl Methacrylate market in North America has been expanding significantly owing to the rise in consumption of high purity products. This has augmented the demand for industrial coatings in various industries. The Glycidyl Methacrylate market in Europe has been expanding largely due to the increase in demand for GMA in automotive, electrical & electronics, and other sectors. Latin America and Middle East & Africa also account for key shares of the market. This can be ascribed to the increase in demand for GMA in end-use industries in these regions.
Global Glycidyl Methacrylate Market: Key Players
Prominent players operating in the Glycidyl Methacrylate Market include Dow Chemicals, Estron Chemicals, Evonik Industries, Sumitomo Chemicals, and Mitsubishi Gas Chemical.
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