Glycidyl Methacrylate Market to gain remarkable traction from packaging sector
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Glycidyl methacrylate has experienced increasing demand as it delivers high-performance automotive coatings for a wide range of automotive applications. It is suitable for use as adhesives as well as for finishes in hardware and appliances. The product and its derivatives are used to improve optical, chemical, mechanical, adhesive characteristics and atmospheric durability.
There has been a growing requirement of polymers across the construction segment for their prominent use in windows, membranes, glazing, signage, flooring, cladding, pipes, seals, and insulation. Larger availability of the product will stimulate a bigger number of applications for the material. It has been estimated that global glycidyl methacrylate market valuation will surpass US$250 million by 2025.
Deloitte had predicted that the engineering and the construction sector in the U.S. will increase up to 5% in 2018 with the help of robust mergers & acquisitions taking place by the industry players. Undertaking mega projects, combined with advanced technologies and prime focus on smart cities, will considerably drive the consumption of glycidyl methacrylate worldwide.
Consistent growth of the packaging sector
Packaging industry is a prominent consumer of adhesives and polymers that are used for accurate and safe packing of various products across multiple industries. Adhesives can be used for paper bonding applications such as construction of boxes, lamination of printed sheets, packaging material used in every kind of consumer goods as well as to produce large industrial tubes.
Industrial goods are sold in robust packaging owing to several reasons such as safety during transport, comply with storage requirements and for aesthetics. The packaging industry in India was valued at nearly USD 32 billion in 2018, which constituted about 4% of the global packaging sector. Continuous expansion of the manufacturing segment is set to boost packaging demand over the coming years across developing nations.
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The per capita packaging consumption in Taiwan and Germany was recorded at 19 Kg and 42 Kg respectively. With a robust growth predicted for adhesive consumption from packaging applications, glycidyl methacrylate industry share is poised to register substantial gains in the near future.
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