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Specialty Methacrylate Market Key Players Analysis - Dow, Sumitomo Chemical Co., Ltd., LG Chem, Arkema, BASF SE.
Specialty Methacrylate Market
According to the latest research by InsightAce Analytic, the Global Specialty Methacrylate Market is valued at US$ 210.50 Mn in 2022, and it is expected to reach US$ 314.67 Mn by 2031, with a CAGR of 4.7% during the forecast period of 2023-2031.
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Methyl Methacrylate (MMA) and other acrylic-based resins are lightweight and durable alternatives to traditional materials, including glass, metals, and other polymers. Reduced vehicle weight can increase fuel efficiency and emissions, making specialized methacrylates an appealing choice for some automobile components. As a result, growth in the automotive sector is propelling the specialized methacrylate market forward. Acrylic-based materials have exceptional optical clarity and transparency, making them ideal for use in the electronics industry. These materials are used to manufacture electronic devices' screens, lenses, light guides, and other optical components.
The strong impact resistance of speciality methacrylates is critical in the automotive and electronics industries. These materials are used in the automotive industry to make exterior parts, interior trims, and headlamp lenses. They are used in electronics as protective covers and screen protectors for mobile smartphones and other gadgets. As a result, growth in the electronics sector is expected to drive the specialized methacrylate market in the coming years.
List of Prominent Players in the Specialty Methacrylate Market:
• Dow
• Sumitomo Chemical Co., Ltd.
• LG Chem
• Arkema
• BASF SE
• Bimax Chemicals Ltd.
• Evonik Industries AG
• Fushun Anxin Chemical Co. Ltd.
• GEO Specialty Chemicals Inc.
• Hitachi Chemical Co. Ltd.
• Keisha Chemical Co. Ltd.
• Millipore Sigma
• Mitsubishi Chemical Holdings Corporation
• Miwon Specialty Chemical Co. Ltd.
• Nippon Shokubai Co. Ltd.
• Sartomer (Arkema Group)
• Shin Nakamura Chemical Co. Ltd.
• Röhm GmbH
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Market Dynamics:
Drivers-
Speciality methacrylate adhesives and sealants are widely used in the building and construction industry for bonding and sealing a wide range of materials such as metals, composites, concrete, and plastics. These adhesives provide strong, long-lasting connections that contribute to the structural integrity of buildings & infrastructure projects. Because of their outstanding optical clarity, impact resilience, and weather ability, acrylic-based methacrylates are used for glazing applications in windows, skylights, and facades. These materials are popular because of their lightweight qualities and design versatility, making them appropriate for modern architectural trends.
Challenges:
However, the main difficulty for MMA producers and purchasers is the unreliability of ageing assets and technologies that rely on cyanide as a feedstock for the classic acetone approach. Given that commercially feasible alternative routes to MMA production exist, companies would wish to decrease the use of cyanide.
Regional Trends:
The Asia Pacific is likely to own the largest market share. Asia Pacific,Japan, China, India, and South Korea are key markets for speciality methacrylate. The region's market dynamics are being fueled by an increase in automotive manufacturing as well as expansion in the electronics building and construction sectors. The existence of well-established automotive and electronics sectors, as well as an increase in building expenditure, are driving market expansion in North America. The United States and Canada are important growth engines for the region's sector. The increased emphasis on sustainability, technical developments, and strong manufacturing capabilities are enhancing market statistics in Europe. Germany, France, and the United Kingdom are the region's primary markets for specialized methacrylate.
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Recent Developments:
• In Aug 2023, Evonik signed a contract to scale up and make special catalyst for Rohm's new methyl methacrylate (MMA) production plant in Texas, USA, which is set to open in 2024. Evonik makes Rohm's custom catalyst for the new LiMA method on a larger scale.
• In Aug 2021, Sumitomo Chemical Co. decided to build a prototype plant for the chemical recycling of acrylic resin like PMMA, poly-methyl-methacrylate at its Ehime Works in Niihama City, Japan. Parallel to this initiative, the Company worked to develop a recycling system for PMMA, including the collection of used acrylic resin, its recycling, and its reprocessing into products, with the goal of achieving rapid commercialization of chemically recycled PMMA.
Segmentation of Specialty Methacrylate Market-
By Derivative-
• Methyl Methacrylate
• Butyl Methacrylate
• Ethyl Methacrylate
• Others
By Application-
• Acrylic Sheets
• Molding
• Paints & Coatings
• Additives
• Others
By End-Use-
• Automotive,
• Architecture & Construction
• Electronics
• Advertisement & Communication
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 551 226 6109
Asia: +91 79 72967118
info@insightaceanalytic.com
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