Methacrylate Monomers Market

Methacrylate Monomers Market – Overview

The global methacrylate monomers market is anticipated to expand at a promising rate from 2021 to 2031 (forecast period). The end-use industries such as automotive, architecture, electronics, and construction are expected to fuel the growth in the global methacrylate monomer market since there is no alternative for methacrylate monomers in the industry. Moreover, growing demand for the manufacturing of polymethyl methacrylate (PMMA) and many other polymers due to the acyclic features of methacrylate monomers is anticipated to propel the growth of the worldwide methyl methacrylate market during the forecast period.

Methacrylate Monomers Market – Competitive Landscape

Key players operating in the global methacrylate monomers market are Dow Chemical (US), Mitsubishi Chemical (Japan), Evonik (Germany), LG Chem (South Korea), Sumitomo Chemical (Japan), and Arkema (France), among others.

Players in the global methacrylate monomers market are focusing on increasing their market presence by undertaking various growth strategies, such as agreements, joint ventures, expansions, and new product launches.

Methacrylate Monomers Market – Trends and Opportunities

The strong demand for methacrylate monomers from the automotive industry is expected to drive the global methacrylate monomers market during the forecast period. The vast range of uses for methacrylate-based monomers in the automotive industry is likely to support the global methacrylate monomers market growth. These components can be used to make interior accessories such as holders for sailing boats and yachts, coatings for automobile topcoats and refinishing, acrylic sheets for caravan window glazing, and interior and exterior panels, bumpers, fenders, trim, and other molded parts. Moreover, the methacrylate monomer is suitable for automobile topcoats, providing a high gloss effect and resistance to mechanical and chemical stress. As per the OICA (Organisation Internationale des Constructeurs d'Automobiles), passenger vehicle production climbed substantially from 2018 to 2020. During the forecast period, such factors are anticipated to propel the methacrylate monomers market.

Furthermore, due to their superior optical properties, methacrylate-based products are in high demand in the IT and telecommunications industries, such as light diffusion plates for flat panel displays and light-guiding plates.

Methacrylate is also employed in the production of a variety of dental and medical applications where stability and purity are crucial. Intravenous (IV) tubing connectors, filter housings and heart valves, medical pumps, hyperbaric chambers, artificial teeth, infant incubators, bridges, dentures, and dental prosthesis are just a few examples. Physicians employ cement, including methacrylate-based polymers and liquid monomers, in hip replacements, while dentists use it in white dental fillings containing liquid monomers polymerized in situ.

Methacrylate Monomers Market – Regional Landscape

Asia Pacific is expected to witness considerable growth in the global methacrylate monomers market during the forecast period. This is mostly due to increased demand from the construction and automotive sectors as a result of the increasing population. Moreover, residential development is expected to increase due to the fast-growing population and the presence of expanding economies. Many methacrylate monomer producers are establishing or expanding manufacturing facilities in Asia Pacific to take advantage of reduced manufacturing costs. The methacrylate monomer market in Asia Pacific is likely to rise due to high demand from the architectural and construction, signs and displays, and automotive industries.

Furthermore, rapid industrialization and urbanization in growing economies such as Japan, India, China, and others are projected to bolster the methacrylate monomers market in Asia Pacific during the forecast period.

The North America methacrylate monomers market is projected to expand during the forecast period due to rising demand in the electronic and healthcare industries. The United States is likely to make significant contributions to the methacrylate monomers market in North America.