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Methyl Methacrylate Market Challenges- Popularity of Epoxy and Polyurethane Adhesives and Limited Growth Opportunities In High-end Applications
Global Methyl Methacrylate Adhesives Market: Overview
Methyl methacrylate (MMA) adhesives are reactive acrylic adhesives that are made of a resin and hardener. They cure quickly at room temperature and they attain full bond strength soon after their application. MMA adhesives also include rubber and additional strengthening agents. MMAs are widely used for applications in aerospace, automotive, marine, composites, and transportation sectors.
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Global Methyl Methacrylate Adhesives Market: Key Segment
Based on substrate, the global methyl methacrylate adhesives market has been segmented into metal, plastic, composite, and others. The composite segment is projected to register the maximum CAGR during the forecast period. Composite is one of the most widely used substrates of MMA adhesives, as it improves aesthetics while maintaining design, cost, and speed of production in marine and transportation industries. Methyl methacrylate adhesives are widely used in niche applications of composite bonding, as they can bond large-sized assemblies as well as materials with different surface energies. Methyl methacrylate adhesives are used to bond composites to composite structures and composites to metal substrates. In terms of end-use industry, the methyl methacrylate adhesives market has been classified into automotive & transportation, building & construction, marine, wind energy, general assembly, and others. The automotive & transportation segment is estimated to lead the global MMA market during the forecast period. Use of MMA adhesives in the automotive & transportation industry is increasing, as it reduces the weight of vehicles and offers excellent performance. Methyl methacrylate adhesives are employed in auto components and interiors and exteriors of automobiles. Methyl methacrylate adhesives are used to bond roof fairings and skins, front and rear end caps, drivers’ consoles, door extensions, engine covers, load locks, stand backs and draught screens, seats and tables, dashboards, sun visors, stairwell molding, headlamp surrounds, ceiling covering, window panes, bumper end caps, and headlight surrounds.
Global Methyl Methacrylate Adhesives Market: Trends & Developments
Increased demand for lightweight and low-carbon-emitting vehicles, high demand from automotive & transportation and marine industries, and excellent performance of methyl methacrylate adhesives are major factors likely to drive the methyl methacrylate adhesives market during the forecast period. Volatility in raw material prices is a restraining factor for the global methyl methacrylate adhesives market. Rising demand from new applications such as wind energy, construction, automotive, and repairs; growing popularity of non-hazardous, green, and sustainable adhesives; increasing awareness about advantages of adhesives over conventional techniques are presenting opportunities for growth of the methyl methacrylate adhesives market. Popularity of epoxy and polyurethane adhesives and limited growth opportunities in high-end applications are major challenges for the methyl methacrylate adhesives market.
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Global Methyl Methacrylate Adhesives Market: Regional Outlook
Based on region, the global methyl methacrylate adhesives market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is estimated to lead the global methyl methacrylate adhesives market during the forecast period. High demand from automotive & transportation, wind energy, and marine end-use industries in the region is primarily driving the global methyl methacrylate adhesives market in Asia Pacific. Asia Pacific is also the rapidly expanding global methyl methacrylate adhesives market. The region is increasingly becoming an important global trade and commerce center. Asia Pacific has emerged as a leading vehicle producer, primarily due to the shift of base of automotive manufacturers to developing markets led by economic slowdown and saturation in Europe and North America. Rising income levels and easy access to resources are augmenting the global methyl methacrylate adhesives market in Asia Pacific.
Global Methyl Methacrylate Adhesives Market: Key Players
Key players operating in the global methyl methacrylate adhesives market include Illinois Tool Works Inc., Henkel AG & Co. KGaA, H.B. Fuller Company, 3M, Arkema S.A. (Bostik), Huntsman International LLC, and Sika AG.
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