Methacrylate Monomers Market Overview:
The methacrylate monomers market is driven by various application and end user industry. It is used in various applications such as coatings, paints, inks, elastomers, adhesives, and others, which are highly used in numerous industries such as automotive, aerospace, construction, and others. In addition to this, growth of automotive and construction industry are the major industries for consumption of methacrylate monomers, for instance it used in construction industry as industrial flooring, reactive road marking systems, concrete repair compounds, binders for concrete admixtures, and liquid water proofing compounds. On the basis of geography, market share of methacrylate monomers is high in Asia Pacific region and is also expected to increase at a high growth rate as compared to other regions such as Europe, North America, and RoW.
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Global methacrylate monomers market is segmented by derivatives, applications, and end user industry, and region. On the basis of derivatives the methacrylate monomers market is divided by behenyl methacrylate, tert-butyl methacrylate, cyclohexyl methacrylate, iso-decyl methacrylate, stearyl methacrylate, and others. Among all derivaties, behenyl methacrylate is a low volatility, monofunctional monomer with a long, hydrophobic side chain, which can produced by acrylic acid, amides, esters, methacrylates, and acrylonitrile. Whereas, tertiary-butyl methacrylate (TBMA) is a highly versatile monomer, UV weatherability, superior solubility properties with applications in numerous areas such as feedstock for chemical syntheses. Cyclohexyl methacrylate which is also known as Cyclohexyl 2-methylprop-2-enoate is used as an intermediate product for polymer synthesis in the chemical industry. On the other hand, Iso-decyl methacrylate is mainly used as raw material in the manufacture of polymeric lubricant additives. These polymers increase the viscosity and low temperature characteristics of lubricants and also help in conservation of energy. Moreover, stearyl methacrylate is mostly used for coating compounds, adhesive compound, and fiber treatment agent.
On the basis of applications of methacrylate monomers the market is segmented into as coatings, paints, inks, elastomers, adhesives, and others. Coating application used in various industry such as architectural, automotive, and industrial due to this it covers the largest market share as compared to other applications. In addition, coatings in architectural industry basically used as surface coatings. They are appropriate for use on aluminium, building surfaces, plastic, metals, glass, paper, and steel. Whereas, industrial coatings cover a number of applications including automotive, overprint varnishes, and traffic paints. In automotive industry methacrylate coatings offer a rich gloss effect as well as shield from mechanical and chemical attack. Moreover, the paint applications highly used in traffic fields, which is used on roads, warehouses airports, garages, and parking areas to mark parking lots and traffic lanes.
On the basis of end user industry methacrylate monomers market is segmented into architectural, automotive¸ aerospace, marine, construction, and others. Among all industry into automotive, aerospace, and electronics occupied the highest market share. The increasing consumption of methacrylate monomers in various industry such architectural, automotive¸ aerospace, marine, construction, and others through the various derivatives such as behenyl methacrylate, tert-butyl methacrylate, cyclohexyl methacrylate, iso-decyl methacrylate, stearyl methacrylate, and others will drive the global methacrylate monomers market in the forecasted period.
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Asia Pacific is the largest market of methacrylate monomers due to demand in various applications such as coatings, paints, inks, elastomers, adhesives, and others, in China region followed by Japan, and India. Increasing demand for automotive industry in China, Japan, Taiwan, and South Korea has made Asia Pacific largest consumer of the global methacrylate monomers market followed by increasing in the consumption of methacrylate monomers market in North America region. In North America region, methacrylate monomers market is mainly drive by automotive, construction and aerospace industry. In addition, the third largest market of methacrylate monomers is Europe region due to large consumption in construction and architecture industry. Moreover, Latin America and Middle East also witnessed in growth of methacrylate monomers market due to various application such as coatings, paints, inks, elastomers, adhesives, and others.
Top 10 Key Player:
Key players of the global methacrylate monomers market are Mitsubishi Rayon Co. Ltd (Japan), Sumitomo Chemical Co., Ltd (Japan), Chi Mei Corporation (Taiwan), Arkema Group (Europe), BASF SE (Germany), Evonik Industries (Germany), The Dow Chemical Company (US), Lucite International (UK), Eastman Chemical Company (US), Monomer-Polymer & Dajac Labs (US), and others.
New product development are the key strategies followed by major industry players for growth of dye stuff market for instance, Evonik Industries on On March 1, 2014, presented its new line of Visiomer Terra products at the American Coatings Show in Atlanta, Georgia, the acrylic monomers business line began pushing methacrylate monomers based to important degree on renewable resources under the product family Visiomer Terra. VISIOMER® Terra highlights the partially biobased products in the Acrylic Monomers portfolio and is expected to continue to grow in the future.
Evonik Industries, April 28, 2017: he Evonik segment Performance Materials announces a global price increase for the VISIOMER® methyl methacrylate and other methacrylate monomer products. As agreements allow, the increase is 100 – 140 USD/ton depending on the product and region. Owing to these developments, the market for methacrylate monomers is expected expand rapidly.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of key vendors.
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