Methacrylate Copolymer Market: Overview
Methacrylate copolymers, also known as methacrylic acid copolymers, is a class of acrylate polymers. They are used as excipients in the pharmaceutical industry. They are also employed as food additives and glazing agents or coating agents in food supplements or solid foods. Methacrylate copolymers are also used in cosmetics due to their properties such as high moisture protection and masking of taste. Additionally, they are employed as thickeners in personal care products such as hair and skin care formulations. Methacrylate copolymers are used as fillers and diluents in order to improve the taste of the formulation of solid oral drugs.
Methacrylate Copolymer Market: Trends & Demands
Rise in demand for methacrylate copolymers in drug formulations, typically in the pharmaceutical industry, is driving the global methacrylate copolymers market. Additionally, increase in demand for solid food supplements for infants is expected to boost the demand for methacrylate copolymers during the forecast period. High production cost and shortage of raw materials are estimated to restrain the market during the forecast period. However, production capacity expansion for methacrylate copolymers is projected to augment the sales of methacrylate copolymers during the forecast period. For instance, in 2018, Evonik Industries announced plans to construct an additional line for the production of its ACRYLITE trademarked PMMA at its site in Osceola, Arkansas, the U.S. The new production line is likely to become operational in the first quarter of 2019. This is expected to double the company’s production capacity for methacrylate copolymers.
Methacrylate Copolymer Market: Key Segments
The global methacrylate copolymers market can be segmented in terms of type and end-use industry. Based on type, the market can be divided into ammonium methacrylate copolymer, butylated methacrylate copolymer, amino methacrylate copolymer, and ethylene methyl methacrylate copolymer. Based on end-use industry, the market can be segregated into pharmaceutical, personal care, and cosmetic. Rise in demand for butylated methacrylate copolymer in various applications, such as enteric coating, film coating, taste masking of bitter drugs, moisture barrier coating, binder for powders, and transdermal therapeutic system, is fuelling the global methacrylate copolymers market. Additionally, growth in demand for FDA approved drugs and formulations in personal care products is anticipated to boost the global methacrylate copolymers market during the forecast period.
Methacrylate Copolymer Market: Regional Outlook
Based on region, the global methacrylate copolymer market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America, followed by Europe, is estimated to be the leading consumer of methacrylate copolymers during the forecast period. Increase in technological innovations in the pharmaceutical industry in the U.S. is driving the demand for methacrylate copolymers in North America. Increase in demand for methacrylate copolymers in drugs and medical formulations, primarily in in France, Russia, and Germany, is estimated to augment the market in Europe during the forecast period. The market in Asia Pacific is projected to expand at a significant pace during the forecast period. Rise in FDI investment in the medical industry in order to improve medical standards and technology in developing economies such as China and India is likely to boost the market during the forecast period. Latin America and Middle East & Africa are least attractive regions in terms of demand for methacrylate copolymers. Lack of product awareness and heavy reliance on import of raw materials are hampering the market in these regions. However, increase in government efforts to improve health standards and rise in investment in new medical technologies are estimated to boost the sales of methacrylate copolymers during the forecast period.
Methacrylate Copolymer Market: Key Players
Key players operating in the global methacrylate copolymer market include The Dow Chemical Company, BASF SE, Corel Pharma Chem, and ChemPoint.com Inc.
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