The Specialty Methacrylate Market Size is valued at USD 210.50 Mn in 2022 and is predicted to reach USD 314.67 Mn by the year 2031 at a 4.7% CAGR during the forecast period for 2023-2031.
Increased urbanization and affluent lifestyles have helped the rise of the worldwide automotive sector, where methacrylate monomer-based acrylic sheets are widely utilized in electronic consoles, tail-lights, and other applications. Specialty methacrylates are a group of chemical compounds that are derivatives of methacrylic acid. These compounds are commonly used in various industrial applications due to their unique properties. Specialty methacrylates are characterized by the presence of the methacrylate functional group, which consists of a double bond among two carbon atoms and a carbonyl group.
Furthermore, rapid urbanization and population growth have fueled the growth of the architecture and construction sectors in both developed and developing economies, such as the United States, China, and India, where methacrylate monomers are widely used as a binder for concrete admixtures, reactive road making, industrial flooring, and liquid waterproofing applications. This is projected to increase demand for methacrylate monomers in the expanding building and construction sector. However, the health risks connected with using methacrylate monomers could stymie market expansion throughout the projection period.
Competitive Landscape
Some major key players in the Specialty Methacrylate Market:
- Dow
- Sumitomo Chemical Co., Ltd.
- LG Chem
- Arkema
- BASF SE
- Bimax Chemicals Ltd.
- Evonik Industries AG
- Fushun Anxin Chemical Co. Ltd.
- GEO Specialty Chemicals Inc.
- Hitachi Chemical Co. Ltd.
- Keisha Chemical Co. Ltd.
- Millipore Sigma
- Mitsubishi Chemical Holdings Corporation
- Miwon Specialty Chemical Co. Ltd.
- Nippon Shokubai Co. Ltd.
- Sartomer (Arkema Group)
- Shin Nakamura Chemical Co. Ltd.
- Röhm GmbH
Market Segmentation:
The Specialty Methacrylate market has been segmented based on derivative, application, and end-use. The market is segmented as methyl methacrylate, butyl methacrylate, ethyl methacrylate, and others based on the derivative. The application segment includes acrylic sheets, moulding, paints & coatings, additives, and others. The end-user segment includes automotive, architecture & construction, electronics, advertisement & communication, and others.
Based On Derivative, The Methyl Methacrylate Segment Is Accounted As A Major Contributor In The Specialty Methacrylate Market
During the forecast period, the methyl methacrylate segment is expected to increase the most. This is due to an increase in the young population combined with an increase in disposable income, which has led to major expansion in the vehicle sector, where methyl methacrylate-based acrylic sheets are widely utilized in tail-lights, instrument clusters, and other electronic components.
The Segment, Paints & Coatings, Witnessed Growth At A Rapid Rate
The global market was dominated by the paints and coatings segment. This is due to an increase in demand for paints and coatings from the construction, automotive, and wood industries, which has led to an increase in demand for the paints manufacturing sector, where methacrylate monomers are widely used as a prime raw material during the paint manufacturing process.
In The Region, The Asia-Pacific Specialty Methacrylate Market Holds A Significant Revenue Share
The Asia-Pacific methacrylate monomers market is anticipated to expand at the fastest CAGR during the forecast period, accounting for a significant methacrylate monomers market share, owing to growth in the building and construction, automotive, electronics, and other sectors, which have improved the performance of the methacrylate monomer in Asia-Pacific. Furthermore, China's consumer electronics sector has expanded significantly, which has boosted the region's methacrylate monomer market performance.
Specialty Methacrylate Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 210.50 Mn |
|
Revenue Forecast In 2031 |
USD 314.67 Mn |
|
Growth Rate CAGR |
CAGR of 4.7% from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Derivative, Application, End-Use |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Dow, Sumitomo Chemical Co., Ltd., LG Chem, Arkema, BASF SE, Bimax Chemicals Ltd., Evonik Industries AG, Fushun Anxin Chemical Co. Ltd., GEO Specialty Chemicals Inc., Hitachi Chemical Co. Ltd., Keisha Chemical Co. Ltd., Millipore Sigma, Mitsubishi Chemical Holdings Corporation, Miwon Specialty Chemical Co. Ltd., Nippon Shokubai Co. Ltd., S), Shin Nakamura Chemical Co. Ltd., Röhm GmbH and others. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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