Methacrylate is a family of compounds that originates from methacrylic acid. Methacrylate is produced by reacting methacrylic acid with appropriate alcohol. Methacrylate monomers are primarily used as building blocks of acrylic-based polymerization products. They are polymerized to form polymethylacrylate, which is further employed in several applications. Methacrylate possesses characteristics such as durability, strength, flexibility, and transparency. It can be derived to form a wide range of compounds, which can be used in industries such as paints & coatings, adhesives & sealants, and plastics.
The methacrylate monomers market can be segmented based on derivative, application, end-use industry, and region. Based on derivative, the methacrylate monomers market can be divided into methyl, ethyl, butyl, and others. In terms of application, the methacrylate monomers market can be segregated into adhesives & sealants, acrylic sheets, PVC modifiers, elastomers, composites, intermediates, additives, and others. Based on end-use industry, the market can be classified into building & construction, healthcare, oil & gas, paints & coatings, pulp & paper, plastics, textile, waste water treatment, electronics, and others. The paints & coatings segment can be sub-divided into industrial, packaging, textile, medical, automotive, architectural, and others. The electronics segment can be also sub-segmented into LED & LCD displays, compact discs, lighting equipment, printed circuit board coatings, and others. Based on region, the methacrylate monomers market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Wide applicability of methacrylate compounds is the driving factor of the methacrylate monomers market. Demand for methacrylate monomers for polymerization is rising owing to its highly reactive double bonds. Thus, demand for numerous methacrylate derivatives is expected to increase during the forecast period. Recycling ability and inexpensive nature of methacrylate compounds are estimated to boost the methacrylate monomers market in the next few years. Methyl methacrylate (MMA) is used as PVC modifier, chemical intermediate, and cement in hip and knee replacements. Usually, it is used in the production of ethyl and butyl methacrylate compounds.
In terms of derivative, methyl and ethyl segments are estimated to account for large share of the methacrylate monomers market during the forecast period. The intermediate application segment of the methacrylate monomers market is anticipated to hold significant share during the forecast period. The acrylic sheets application segment is projected to expand at a rapid pace in the next few years. Electronics, medical, and paints & coatings end-use industry segments are likely to constitute major share of the methacrylate monomers market in the near future. Demand for methacrylate compounds in electronics and paints & coatings industries is rising owing to its scratch resistance ability.
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Asia Pacific is expected to account for large share of the methacrylate monomers market, followed by North America and Europe, during the forecast period. Asia Pacific is anticipated to offer lucrative opportunities to the methacrylate monomers market in the near future, owing to low production costs in the region. Expansion in automotive, electronics, paints & coatings, and building & construction industries in Asia Pacific is estimated to boost the methacrylate monomers market in the next few years. The methacrylate monomers market in Latin America and Middle East & Africa is likely to expand at a moderate pace in the near future.
Key players operating in the methacrylate monomers market include Arkema Group, BASF SE, Mitsubishi Chemical Holdings Corporation, Evonik, and Asahi Kasei Corporation.
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