Methyl methacrylate, also known as methacrylic acid or methyl ester is a monomer. The escalating demand for methyl methacrylate across diverse end-users such as automotive, construction, medical, paints and coatings, aerospace, electronics, and others may invite promising growth prospects during the assessment period of 2020-2030.
Application of methyl methacrylate in outdoor lighting fixtures, lighting displays, metal and foil coatings, sealants, textile finishes, panels, industrial finishes, inks, PVC impact modifiers, and packaging may invite immense growth prospects for the methyl methacrylate market. On the basis of feedstock, the methyl methacrylate market can be classified into ethylene, isobutylene, acetone, methanol, and others. In context to the production type, the methyl methacrylate market can be segmented into recycling and reclaiming, and chemical synthesis.
This report on the methyl methacrylate market enlightens the stakeholders and CXOs about the recent developments and the current scenario. The changing market dynamics have been presented in the report in a detailed and precise manner so that the stakeholders can grasp every point without any difficulty and take steps accordingly.
The report also contains details about the COVID-19 impact on the methyl methacrylate market and the vital threats that the methyl methacrylate market may face between 2020 and 2030.
The methyl methacrylate market is consolidated as only a handful of well-established players bring immense growth. These players are involved in research and development activities for exploring novel insights into the methyl methacrylate market. Using new formulations, manufacturers in the methyl methacrylate market try to enhance and make methyl methacrylate more convenient and suitable for the end-user.
Planning business strategies according to the changing dynamics and carrying out expansion activities are a common phenomenon among the players in the methyl methacrylate market. Investments by various conglomerates and firms give a Midas touch to the growth of the methyl methacrylate market. Furthermore, new players are often either merged or acquired by well-established players in the methyl methacrylate market.
Other activities such as partnerships, collaborations, and joint ventures play a crucial role in strengthening their influence across the methyl methacrylate market. This aspect eventually helps in expanding the growth of the methyl methacrylate market.
Some well-entrenched players in the methyl methacrylate market are The Dow Chemical Company, DowDuPont. Inc., Sumitomo Chemical Company Limited, Arkema Group, Chi Mei Corporation, BASF SE, Evonik Industries AG, and Asahi Kasei Corporation.
The booming automotive sector may unlock a treasure of growth opportunities for the methyl methacrylate market. Methyl methacrylate is used on a large scale in interior and exterior parts such as windshields, trim, fenders, bumpers, and trim.
The properties of methyl methacrylate such as abrasion resistance, UV resistance, and good surface hardness make them an ideal fit for the use in the production of certain parts of the vehicles. Thus, the increase in the production of automobiles is directly proportional to the growth of the methyl methacrylate market.
However, the growth rate of the methyl methacrylate market has observed a downward trend during the lockdown enforced by governments of various countries to contain the spread of the novel coronavirus. Excluding exempted production facilities deemed as essential, all other manufacturing units were shut. This factor affected the growth of the methyl methacrylate market negatively.
Nevertheless, the easing of lockdown restrictions by various countries has allowed the production facilities to reopen with all the necessary measures. Hence, this aspect brings a great opportunity for the methyl methacrylate market to revive lost growth. ‘
Asia Pacific may serve as the largest growth-contributing region for the methyl methacrylate market during the forecast period of 2020-2030. The swelling electronics and automotive industry across various countries may prove as a prominent growth factor for Asia Pacific’s methyl methacrylate market.
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