“In terms of value, the methacrylate monomers market is projected to grow at a CAGR of 4.9% during the forecast period, 2017 to 2022.”
The global methacrylate monomers market is projected to grow from USD 8.85 billion in 2017 to USD 11.26 billion by 2022, at a CAGR of 4.9% in terms of value. The global methacrylate monomers market has seen an upward surge due to an increase in demand from various end-use industries such as architecture and construction, automotive, electronics, advertisement and communication, medical, energy, and others. Methacrylate monomers are the building blocks for a wide range of acrylic-based applications in various industries worldwide. The demand for methacrylate monomers has increased over a period of time due to the rising demand from automotive sector and growth of the construction industry. Volatility in raw material costs poses a risk for the methacrylate monomers manufacturers and is expected to bring down their profit margins.
“The automotive segment is expected to dominate the methacrylate monomers market during the forecast period.”
The automotive segment is expected to dominate the methacrylate monomers market during the forecast period, 2017 to 2022. Methacrylate monomer-based products are used in the automotive industry to create interior and exterior panels such as bumpers, trims, fenders, and other molded parts. Methacrylate monomers help in UV and abrasion resistance and surface hardening. They are ideal products for automotive topcoats, where they provide rich gloss effect and protection against chemical and mechanical attacks.
“The Asia Pacific methacrylate monomers market is projected to grow at the highest CAGR during the forecast period.”
In terms of volume, the Asia Pacific methacrylate monomers market is projected to grow at the highest CAGR during the forecast period. Asia Pacific is the largest market for methacrylate monomers globally. The increasing demand for acrylic sheets, molding compounds, and additive-based products from China, India, South Korea, Taiwan, and Japan is a key driver for the market in this region.
Extensive primary interviews were conducted in the process of determining and verifying the sizes of various segments and subsegments of the methacrylate monomers market obtained through secondary research.
The breakdown of primaries is given as follows:
- By Company: Tier 1 - 72%, Tier 2 - 25%, and Tier 3 - 3%
- By Designation: Manager Level - 76% and C level - 24%
- By Region: Europe - 50%, Asia Pacific - 25%, North America - 20%, and Rest of the World - 5%
Key players profiled in the report include Mitsubishi Chemical (Japan), Evonik (Germany), Dow Chemical (US), Sumitomo Chemical (Japan), LG Chem (South Korea), and Arkema (France), among others.
This report covers the methacrylate monomers market, both in terms of value and volume and forecasts the market size till 2022. The report includes the market segmentation on the basis of derivative, application, end-use industry, and region. It also provides detailed information about the key market players and competitive strategies adopted by them to strengthen their position in the methacrylate monomers market.
Key Benefits of Buying this Report:
This research report is focused on various levels of analysis?industry trends, market share analysis of the key players, supply chain analysis, and company profiles. These insights together comprise and discuss the overall view on the competitive landscape, emerging and high-growth segments of the methacrylate monomers market, high-growth regions, and drivers, restraints, opportunities, and challenges impacting the growth of the methacrylate monomers market.