Press release
High-Bond Methyl Methacrylate Adhesives for Modern Applications
According to The Business Research Company's, The methyl methacrylate adhesives market size has grown strongly in recent years. It will grow from $1.56 billion in 2023 to $1.68 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to increased industrial applications, growth in automotive production, demand for lightweight materials, repair and maintenance activities, versatility in bonding substrates.
The methyl methacrylate adhesives market size is expected to see strong growth in the next few years. It will grow to $2.31 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to focus on sustainable adhesives, innovation in aerospace applications, rapid prototyping and assembly, increasing investments in infrastructure, expansion of renewable energy projects. Major trends in the forecast period include digitalization and smart manufacturing, customization and tailored solutions, strategic partnerships and acquisitions, advancements in formula and technology, wind energy installations.
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Market Drivers and Trends:
The thriving building and construction industry is expected to propel the growth of the methyl methacrylate adhesives market going forward. Building and construction industry refers to industry that is primarily engaged in the construction of residential, farm, industrial, commercial, or other buildings. Adhesives made of methyl methacrylate are used in trucks and construction equipment, such as side and roof panels, door panels, and aerodynamic parts. The usage of methyl methacrylate adhesives is significant in the construction sector. For instance, according to the United States Census Bureau, a US-based principal agency of the federal statistical system, in February 2023, the number of privately owned housing units were 1,524,000 on a seasonally adjusted yearly basis, an increase of 13.8% from January 2023. Therefore, the thriving building and construction industry is driving the growth of methyl methacrylate adhesives market going forward.
Innovative non-flammable adhesive solutions are a key trend gaining popularity in the methyl methacrylate adhesives market. Companies operating in the methyl methacrylate adhesives market are launching innovative non-flammable adhesive solutions to sustain their position in the market. For instance, in December 2021, Huntsman Corporation, a US-based manufacturer and marketer of specialty chemicals company, launched ARALDITE 2080 adhesive, an industry-first, innovative solution that provides exceptional bond performance while addressing the challenges associated with traditional adhesives, such as high odor, flammability, high toxicity profiles, and surface preparation. It is primer-free structural acrylate adhesive that offers exceptional bond performance without compromising on safety or productivity. With its low odor, non-flammable classification, and low toxicity profile, the adhesive is ideal for use in confined working environments, reducing costs for safety training, storage, and equipment.
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Major Key Players of the Market:
3M Company; H.B. Fuller Company; Huntsman Corporation; Sika AG; Henkel AG & Company KGaA; Arkema SA; Scott Bader Company Ltd.; Permabond LLC; Parson Adhesives Inc.; Lord Corporation; SCIGRIP Smarter Adhesive Solutions; ITW Polymer Adhesives; Kisling AG; Chemique Adhesives Inc.; Master Bond Inc.; AEC Polymers; Cyberbond LLC; Matrix Composite Materials Company Ltd.; Ulbrich Group; L&L Products; Panacol-Elosol GmbH; Adhere Industrial Tapes Ltd.; Adhesives Research Inc.; Dymax Corporation; Hernon Manufacturing Inc.; Pidilite Industries; Royal Adhesives & Sealants; Toagosei Co. Ltd.; Wisdom Adhesives Worldwide; Bostik
Methyl Methacrylate Adhesives Market 2024 Key Insights:
• The methyl methacrylate adhesives market will grow to $2.31 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
• The Role Of The Thriving Building And Construction Industry In Driving Growth In The Methyl Methacrylate Adhesives Market
• Emergence Of Non-Flammable Solutions
• Asia-pacific was the largest region in the methyl methacrylate adhesives market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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