Global Methyl Methacrylate Adhesives Market Size to Grow at a CAGR of 7.70% in the Forecast Period of 2023-2028
The ‘Global Methyl Methacrylate Adhesives Market Size, Share, Analysis, Trends, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global methyl methacrylate adhesives market, assessing the market on the basis of its segments like product, end-use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Methyl Methacrylate Adhesives Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 1.42 billion
• Forecast CAGR (2023-2028): 7.70%
• Forecast Market Size (2028): USD 2.22 billion
The global methyl methacrylate adhesives market is anticipated to be driven by the rising demand from the automotive industry for these adhesives due to their versatility in bonding with different substrates. Methyl methacrylate adhesives are used in composite tanks, bumpers, blades, roofs, deflectors, interior body panel structures, car seats, and instrument panels of trucks, cars, trains, buses, and tanks, among other components.
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Methyl methacrylate adhesives have seen a notable rise in use in the automotive industry due to their desirable properties, such as fatigue resistance, excellent impact and peel strength, high-tension strength, temperature resistance, high toughness and flexibility, propelling the market demand for these products worldwide. The demand for bonding technologies has expanded due to the growing use of cutting-edge raw materials and component technologies in the automotive sector.
Additionally, the growing demand for methyl methacrylate adhesives in the wind energy sector is anticipated to propel the global methyl methacrylate adhesives market due to its high temperature, electrical insulation, and resistance. However, the global market for methyl methacrylate adhesives is being constrained by factors including the fluctuating price of raw materials.
Methyl Methacrylate Adhesives Industry Definition and Major Segments
Methyl methacrylate (MMA) adhesives are a type of reactive acrylic adhesives that typically contain an initiator and resin or a hardener and resin. MMAs have versatile applications and are commonly used because they can firmly connect with a majority of metals, rubbers, and technical plastics, including wood, ABS, PC, PET, and fibreglass. MMAs cure quickly at room temperature and reach their ideal binding strength quickly after application.
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Based on product, the market is segmented into:
The market on the basis of end-use is divided into:
• Automotive and Transportation
• Building and Construction
• Wind Energy
• General Assembly
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Methyl Methacrylate Adhesives Market Trends
The growing demand for methyl methacrylate adhesives in the building and construction sector is a key trend anticipated to drive the methyl methacrylate adhesives market in the future due to their qualities including great durability and weather resistance. Due to their superior bonding capabilities, MMAs are frequently used in a variety of applications in the building and construction sector, including in windows, uPVC doors, panels, and architectural components.
The methyl methacrylate adhesives market is also booming due to the increased need for lightweight, streamlined solutions as well as their enhanced compatibility with metals and other speciality substrates. Due to its increasing use in the production of domes used in the building and construction sector and its numerous benefits, including UV resistance, high transparency, and surface hardness, the market value of polymethyl methacrylate (PMMA) is anticipated to increase.
Production of MMA made from ethylene is an emerging technology, and its expanding use may help the market grow. This pattern may open up new development possibilities, particularly in areas where ethylene is widely available.
In the Asia Pacific, the increase in residential development has aided the rapid growth of the construction sector in countries like India, Thailand, Indonesia, Vietnam, and Singapore. The market for methyl methacrylate adhesives is expected to grow at a rapid rate due to the growing pace of residential development.
Key Market Players
The major players in the global methyl methacrylate adhesives market report are The 3M Company, Arkema S.A, Cedesa Ltd, Scott Bader Company Limited, and Henkel AG & Co. KGaA, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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