Global Methyl Methacrylate Adhesives Market 2018-2023 - Growing Demand From New Applications Such as Wind Energy, Construction, Automotive, and Repairs
DUBLIN, Nov. 5, 2018 /PRNewswire/ --
The "Methyl Methacrylate Adhesives Market by Substrate (Metal, Plastic, Composite), End Use Industry (Automotive & Transportation, Marine, Wind Energy, Building & Construction, General Assembly), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The market size of MMA adhesives is estimated at USD 1.09 billion in 2018 and is projected to reach USD 1.56 billion by 2023, at a CAGR of 7.5%.
The high demand from the automotive & transportation industry in emerging countries is leading to the increasing consumption of MMA adhesives.
On the basis of substrate, the MMA adhesives market has been segmented into metal, plastic, composite, and others. Metal is the largest substrate, in terms of value, and is expected to dominate the market in the future. While, the composite segment is projected to be the fastest-growing substrate in the global MMA adhesives market, in terms of value. This high growth can be attributed to the growing demand for MMA adhesives for bonding composite components, such as deflectors, bumpers, roofs, composite tanks, blades, car seats, interior body panel structures, and instrument panels of trucks, cars, rails, buses, and tanks.
On the basis of end-use industry, the MMA adhesives market has been segmented into automotive & transportation, building & construction, marine, wind energy, general assembly, and others. The MMA adhesives market exhibits high growth potential owing to increased demand from the automotive & transportation and marine industries. Automotive & transportation is the largest end-use industry because of the increasing use of advanced materials for component manufacturing, which develops a need for bonding technology that can bond dissimilar materials with adjustable assembly time.
Automotive & Transportation
MMA adhesives are used in the automotive & transportation industry for bonding components and supporting assembly functions. The use of MMA adhesives in the automotive & transportation industry is increasing as they reduce the weight of vehicles and offer excellent performance characteristics. These adhesives find application in automotive components as well as in the interiors and exteriors of automobiles. The use of adhesives has revolutionized the building and design processes in the automotive industry.
In automobile manufacturing, adhesives are used for joining seats, spoilers, tailgates, side skirts, bumpers, headlights, dashboards, and others. These adhesives are also used to bond newer materials in the automotive industry such as ABS/PC, CFRP, aluminum, and coated metals. Moreover, the use of MMA adhesives is expected to increase in the future owing to the increased usage of composite materials in the aircraft and automotive manufacturing industries.
Marine
The marine end-use industry includes subsegments such as motorboats, sailboats, canoes, kayaks, ski boats, and other nautical and recreational water activities. MMA adhesives gained acceptance during the mid-1990s, with wider acceptance for recreational boats, as these adhesives can bond fiberglass exterior side walls with aluminum frames. MMA adhesives offer excellent strength, minimal or low surface preparation, ease of application, and an increase in production speed. These adhesives also provide superior performance for laminated joints, reduced gel coat cracking, excellent gap filling, and remarkable open and working times according to need. MMA adhesives can be used to bond radome, radar mount, mullion, swim platform, upper deck bond, stringer, deck to hull, engine cowl, and other parts in boats.
APAC is the largest MMA adhesives market as well as the major producer of MMA adhesives. The automotive end-use industry segment dominates the MMA adhesives market. APAC is increasingly becoming an important global trade and commerce center. The region is currently the fastest-growing and the largest market. With economic contraction and saturation in the European and North American markets, the demand is shifting to APAC. APAC has emerged as one of the leading producers as well as consumers of MMA adhesives due to the increasing domestic demand, rising income levels, and easy access to resources. According to OICA, APAC led the vehicle production market in 2017.
The key players profiled in this report include Illinois Tool Works Inc. (US), Arkema (France), SCIGRIP (UK), Scott Bader (UK), Lord Corporation (US), Henkel (Germany), Permabond LLC (US), Parsons Adhesive Inc. (US), Huntsman Corporation (US), and 3M (US).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Market Players
4.2 MMA Adhesives Market, By Substrate
4.3 MMA Adhesives Market in APAC
4.4 MMA Adhesives Market, By Country
4.5 MMA Adhesives Market: Developed vs. Developing Countries
4.6 APAC: MMA Adhesives Market, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Demand for Lightweight and Low Carbon-Emitting Vehicles
5.2.1.2 High Demand From Automotive & Transportation and Marine Industries
5.2.1.3 Excellent Performance of MMA Adhesives
5.2.2 Restraints
5.2.2.1 Volatility in Raw Material Prices
5.2.3 Opportunities
5.2.3.1 Growing Demand From New Applications Such as Wind Energy, Construction, Automotive, and Repairs
5.2.3.2 Growing Popularity of Non-Hazardous, Green, and Sustainable Adhesives
5.2.3.3 Creating Awareness About Advantages of Adhesives Over Conventional Techniques
5.2.4 Challenges
5.2.4.1 Popularity of Epoxy and Pu Adhesives
5.2.4.2 Limited Market Opportunities in High-End Applications
5.3 Porter's Five Forces Analysis
5.3.1 Intensity of Competitive Rivalry
5.3.2 Bargaining Power of Buyers
5.3.3 Bargaining Power of Suppliers
5.3.4 Threat of Substitutes
5.3.5 Threat of New Entrants
6 Macroeconomic Overview and Key Indicators
6.1 Introduction
6.1.1 Global GDP Trends and Forecasts
6.1.2 Growth Indicators in the Automotive Industry
7 MMA Adhesives Market, By Substrate
7.1 Introduction
7.2 Metal
7.3 Plastic
7.4 Composite
7.5 Others
8 MMA Adhesives Market, By End-Use Industry
8.1 Introduction
8.2 Automotive & Transportation
8.3 Building & Construction
8.4 Marine
8.5 Wind Energy
8.6 General Assembly
8.7 Others
9 MMA Adhesives Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 France
9.3.3 Spain
9.3.4 UK
9.3.5 Russia
9.3.6 Rest of Europe
9.4 APAC
9.4.1 China
9.4.2 India
9.4.3 Japan
9.4.4 South Korea
9.4.5 Thailand
9.4.6 Rest of APAC
9.5 South America
9.5.1 Brazil
9.5.2 Rest of South America
9.6 Middle East & Africa
9.6.1 South Africa
9.6.2 Rest of Middle East & Africa
10 Competitive Landscape
10.1 Introduction
10.2 Competitive Scenario
10.3 New Product Launches
10.4 Mergers & Acquisitions
10.5 Investments & Expansions
10.6 Partnerships & Agreements
11 Company Profiles
11.1 Illinois Tool Works Inc.
11.2 Henkel AG & Co. Kgaa
11.3 H.B. Fuller Company
11.4 3M Company
11.5 Arkema S.A. (Bostik)
11.6 Huntsman International LLC.
11.7 Sika AG
11.8 Scigrip
11.9 Scott Bader Company Ltd.
11.10 Lord Corporation
11.11 Other Key Companies
11.11.1 Dowdupont
11.11.2 Novachem Corporation Ltd.
11.11.3 ND Industries, Inc.
11.11.4 Kisling AG
11.11.5 Delo Industrial Adhesives
11.11.6 Hernon Manufacturing
11.11.7 Parson Adhesives
11.11.8 Chemique Adhesives
11.11.9 Permabond LLC
11.11.10 Adhesive Systems, Inc.
11.11.11 L&L Products
11.11.12 Engineered Bonding Solutions, LLC
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