Rockville, March 20, 2023 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, in its newly published research, reveals that the global methacrylate monomers market is forecasted to reach a valuation of US$ 21 billion by the end of 2033. Worldwide demand for methacrylate monomers is expected to increase at a CAGR of 5.3% through 2033. Rising use of polymerized methacrylate monomers in orthopedic and dentistry surgery is expected to lead to increased demand.
Methacrylate monomers are industrial monomers, which can easily form polymers due to their highly reactive double bonds. Numerous methacrylate monomer derivatives, including stearyl methacrylate, cyclohexyl methacrylate, glycidyl methacrylate, allyl methacrylate, ethyl methacrylate, butyl methacrylate, and methyl methacrylate are globally available. They are used in a wide variety of end-use sectors, including architectural, automotive, electronics, paints & coatings, and others.
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Rising population and rapid urbanization are contributing to the growth of the architecture and construction sector in developing and developed economies, including India, the United States, and others. The architecture and construction industry uses methacrylate monomers as a binder for liquid waterproofing applications, industrial flooring, reactive road making, and concrete admixtures.
- According to a research report published by the National Investment Promotion and Facilitation Agency, infrastructure activities in India held 13.1% of the total share of FDI (foreign direct investment) inflows in 2021.
A noticeable increase in OEMs (original equipment manufacturers) and technological advancements have led to significant growth in the automotive sector. The sector uses methacrylate monomers in the production of illuminated light displays, automotive paints, and others.
- India Brands Equity Foundation published a research report, which mentioned that domestic automobile production increased at a CAGR of 2.7% through 2020 while manufacturing more than 26.5 million cars in India.
There are a few incidences related to the side effects of methacrylate monomer infection. Slight eye irritation and moderate skin irritation are caused due to exposure to methacrylate monomer. In addition, inhalation of vapor or mist can cause throat, lung, and nose irritation. Sometimes, these irritations can be fatal if exposure reaches beyond limits.
Asia Pacific is estimated to hold a significant share of the global market revenue. Rising regional population and economic growth in regional countries, including South Korea, India, Japan, and China are anticipated to result in increased use of methacrylate monomers in various industries, including healthcare, construction, and others.
Key Takeaways from Market Study
- The global methacrylate monomers market is valued at US$ 12.5 billion in 2023.
- Demand for methacrylate monomers is projected to rise at a CAGR of 5.3% through 2033.
- Sales of methyl methacrylate-derived methacrylate monomers are expected to expand at 6.2% CAGR over the forecast period (2023 to 2033).
- Demand for methacrylate monomers is anticipated to rise at a CAGR of 4.2% Canada.
- Sales of methacrylate monomers are estimated to expand at a CAGR of 3.9% in Germany.
- The global methacrylate monomers market is forecasted to reach a valuation of US$ 21 billion by the end of 2033.
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Competitive Landscape
Prominent suppliers of methacrylate monomers are making huge investments in strengthening their supply chain management systems to generate leads. Delivery of quality products is ensured by suppliers, maintaining product standards for quality control. Market players work effectively to minimize environmental impacts to achieve the goal of a sustainable environment.
Key Market Players
- Arkema Group
- Ted Pella, Inc.
- Estron Chemical, Inc.
- DuPont de Nemours, Inc.
- Hitachi Chemical Co., Ltd.
- Gantrade Corporation
- Mitsubishi Chemical Corporation
- Nippon Shokubai Co., Ltd
Segmentation of Methacrylate Monomers Industry Research
- By Derivative:
- Methyl methacrylate
- Butyl methacrylate
- Ethyl methacrylate
- Stearyl methacrylate
- Others
- By End Use:
- Automotive
- Electronics
- Architecture & Construction
- Advertisement & Communication
- Industrial
- Healthcare
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the methacrylate monomers market, presenting the historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights into the market based on derivative (methyl methacrylate, butyl methacrylate, ethyl methacrylate, stearyl methacrylate, others) and end use (automotive, electronics, architecture & construction, advertisement & communication, industrial, healthcare, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Key Questions Covered in the Methacrylate Monomers Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Methacrylate Monomers sales grow until 2033?
- Which are the factors hampering the Methacrylate Monomers demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Methacrylate Monomers Market during the forecast period?
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Polymethyl Methacrylate (PMMA) Market Share: Presently, the global polymethyl methacrylate (PMMA) market share stands at US$ 4.9 billion and is projected to surpass a valuation of US$ 8.5 billion by the end of 2032, with worldwide demand for PMMA forecasted to increase steadily at a CAGR of 5.9% over the next ten years.
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