Global methyl methacrylate adhesives market was valued at approximately $ 10.6 billion in 2018 and is projected to cross $ 13.5 billion by 2024
NEW YORK, May 29, 2019 /PRNewswire/ --
Global Methyl Methacrylate Adhesives Market By Derivative (Poly (methyl methacrylate), Surface Coatings & Adhesives, PVC Modifiers, Emulsion Polymers & Other Methacrylic Acids), By Substrate (Metal, Plastic & Composites), By Region, Competition, Forecast & Opportunities, 2024
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Global methyl methacrylate adhesives market was valued at approximately $ 10.6 billion in 2018 and is projected to cross $ 13.5 billion by 2024, growing at a CAGR of 4.3%. Growing demand from the transportation and automotive industry in the emerging countries as well as rising inclination towards low carbon-emitting vehicles is leading to growing consumption of methyl methacrylate adhesives (MMA) adhesives. However, volatility in the prices of raw materials is hindering the growth of the market.
Global MMA market is categorized into derivatives, substrate and region.Among derivatives, Poly (methyl methacrylate) is the leading segment as MMA is mainly used as a raw material for poly (methyl methacrylate), which is in huge demand in the automotive, construction, and electronics industries.
PMMA is mostly used as an alternative to glass in the automotive and construction industries.The use of MMA adhesives in the automotive industry is growing rapidly as they minimize the weight of vehicles and provide superior performance characteristics.
These adhesives are used in the automotive components as well as in the exteriors and interiors of automobiles. Further, MMA finds wide variety of applications in surface coatings & adhesives, PVC modifiers, emulsion polymers, etc.
Additionally, on basis of substrates, the market is categorized into metal, plastic, and composites.Of all, metal is the largest segment which is anticipated to dominate the market in the coming years as well.
However, composite sub-segment is expected to be the fastest-growing substrate in global methyl methacrylate adhesives market on account of rising demand for MMA adhesives for bonding composite components which include bumpers, deflectors, roofs, blades, composite tanks, car seats, interior body panel structures and instrument panels of tanks, buses, etc.
Regionally, Asia-Pacific (APAC) is the leading segment in global MMA adhesives market.The region is also the major producer of MMA adhesives.
Due to the economic shrinkage and saturation in both European and North American markets, the demand is shifting to Asia-Pacific. The region has emerged as one of the leading producers as well as consumers of MMA adhesives owing to the rising income levels, increasing domestic demand as well as easy access to resources.
Some of the leading companies operating in global methyl methacrylate adhesives market are Arkema (Altuglas International), Dow Chemical Company, Evonik, Kuraray, Lucite, Illinois Tool Works Inc., Henkel AG & Co. Kgaa, H.B. Fuller Company, 3M Company, Huntsman International LLC, among others.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the Study:
• To analyze and forecast the market size of methyl methacrylate adhesives market.
• To forecast global methyl methacrylate adhesives market based on derivatives, substrate, and regional distribution.
• To identify drivers and challenges for global methyl methacrylate adhesives market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global methyl methacrylate adhesives market.
• To conduct pricing analysis for global methyl methacrylate adhesives market.
• To identify and analyze the profile of leading players involved in the manufacturing of methyl methacrylate adhesives.
Some of the leading players in global methyl methacrylate adhesives market are Arkema (Altuglas International), Dow Chemical Company, Evonik, Kuraray, Lucite, Illinois Tool Works Inc., Henkel AG & Co. Kgaa, H.B. Fuller Company, 3M Company, Huntsman International LLC, among others.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of leading manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the service offerings, distribution channels and presence of all major players operating in global methyl methacrylate adhesives market.
The analyst calculated the market size of methyl methacrylate adhesives using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Methyl Methacrylate Adhesives (EPS) manufacturers and suppliers
• Government and other regulatory bodies
• Research institutes and organizations
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them to strategize investments and capitalize on market opportunities.
Report Scope:
In this report, global methyl methacrylate adhesives market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, by Derivatives:
o Poly (methyl methacrylate)
o Surface Coatings & Adhesives
o PVC Modifiers
o Emulsion Polymers
o Other Methacrylic Acids
• Market, by Substrate:
o Metal
o Plastic
o Composites
• Market, by Region:
o Asia-Pacific
- China
- Japan
- Republic of Korea
- Singapore
- Taiwan
- Thailand
o Europe
- United Kingdom
- Germany
- France
- Russia
o North America
- United States
- Canada
- Mexico
o Rest of World
- Saudi Arabia
- Brazil
- UAE
- Iran
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in methyl methacrylate adhesives market.
Available Customizations:
With the given market data, we offers customizations according the company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.
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