Increasing demand for Methyl Methacrylate in the online retailing business, coupled with high investments in RD of Methyl Methacrylate, are fueling the market growth.
Methyl Methacrylate Market Size – USD 8,884.2 Million in 2020, Growth - CAGR of 5.2%, Trends – Increase in demand for Methyl Methacrylate in the polymethyl methacrylate (PMMA) production.
The Global Methyl Methacrylate Market is forecast to reach USD 13.34 Billion by 2028, according to a new report by Reports and Data. The Methyl Methacrylate is a clear, colorless, highly flammable, slightly water-soluble industrial and commercial chemical and a methyl ester of methacrylic acid. Methacrylic acid methyl ester is another trade name of this chemical compound. Methyl methacrylate are mostly used in the manufacturing of highly used Polymethyl Methacrylate (PMMA) surface coating impact modifier for clear rigid polyvinyl chloride and are also widely utilized as an intermediate solvent chemical in the formulation of various chemical processing. The continuous expansion of the PMMA clear sheets, paint coatings, adhesives, food packaging, mobile and computer casing and paper coating applications are expected to drive the demand throughout the forecast period. Direct Intermediate solvent, chemical reagent, adherent, and other processing aids are some of its widely used end-usages.
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Key Companies: Mitsubishi Chemical Holdings, BASF SE, Dow Chemical Company, Evonik Industries AG, Arkema S.A, LG Chem Ltd., Nippon Shokubai Co., Ltd., Shanghai Huayi (Group) Company, Kowa India Pvt. Ltd., and S.K. Panchal Co., among others.
Further key findings from the report suggest
- The Methyl Methacrylate monomers and derivatives are widely used for polymerization and in manufacturing products such as acrylic cast and extruded sheet, optical clarity products, scratch-resistant transparent products, food contact household appliances, impact modifiers for clear and rigid PVC, and solvent water-based emulsion polymers. The polymerization sub-segment is forecasted to reach a market share of 64.2% by 2028 growing with a rate of 5.6% during the period 2019 – 2028.
- Chemical intermediate sub-segment is measured to grow at a CAGR of 4.5% in the forecast period. Methyl Methacrylate is used in the chemical intermediate process of producing 2-ethylhexyl methacrylate, and n-butyl methacrylate, among others that are widely used in the coating polymers, textile ingredients, construction chemicals and others.
- Growing penetration of the online retailing businesses for chemicals and materials, especially in the emerging nations in Asia Pacific, is helping the market grow by broadening the outreach in the areas where the offline vendors are unavailable. Also, due to the non-involvement of the distributors in the supply chain model, the profit margin is way more than that of the offline retailing. The online retailing is expected to gain a market share of 34.1% by 2028.
- Europe would reach a market share of 20.5% by 2028 and would grow at a CAGR of 4.7% in the forecast period. Germany France have some of the valuable players in this region.
- North America is forecasted to witness significant growth in the overall market, with 25.7% of market possession by 2028 and CAGR of 5.8% during the forecast period. US possesses the highest market share in this region and some of the vital players of the market.
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Market Segmentation:
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
End-Use Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)
- Polymerization
- Chemical Intermediate
- Others
Sales Channel Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)
- Online Retailing
- Offline Retailing
Applications Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)
- Polymethyl Methacrylate
- Adhesive Sealants
- Paints Coatings
- PVC Impact Modifiers
- Others
The global Methyl Methacrylate market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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