Global Methacrylate Monomer Market is segmented By Type (Methyl Methacrylate, Butyl Methacrylate, Ethyl Methacrylate, 2-Ethyl Hexyl Methacrylate, Others), By Application (Adhesive, Coatings, Composite Resins, Construction, Acrylic Sheets, Others), By End-User (Building & Construction, Oil & Gas, Automotive, Computer & Electronics, Healthcare, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Methacrylate Monomer Market Overview
The Global Methacrylate Monomer Market is expected to grow at a CAGR of 3.4% during the forecast period (2024-2031).
Methacrylates are utilized as building blocks to make a wide variety of polymers. Moreover, these are used in several industries to design polymers with a broad range of features such as stability, durability, hardness and scratch resistance. Also, it is used as raw materials or components to manufacture a wide variety of objects or formulations that we use in our everyday life. Around 6.57 billion pounds of methacrylic monomers are used per year worldwide.
Methacrylate Monomer Market Scope
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Metrics |
Details |
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Market CAGR |
3.4% |
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Segments Covered |
By Type, By Application, By End-User and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
North America |
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Largest Market Share |
Asia Pacific |
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Methacrylate Monomer Market Dynamics
The increasing demand of the automotive sector is expected to boost the methacrylate market growth during the forecast period due to the growing demand for automotive interior accessories like holders, coatings, acrylic sheets, interior & exterior panels, bumpers, fenders and others. Moreover, the IT and telecommunication industry's accelerated development has increased the demand for methacrylate-based products due to their unique optical characteristics. According to industry analysis, the overall automotive market will grow to USD 3,800 billion by 2030, from the current value of USD 2,755 billion, with a CAGR of 3%. Besides, by 2021, the information technology (IT) industry is estimated to be valued at USD 5 trillion, with over a third of its market share coming from North America. Asia is also expected to be a large contributor to the information technology industry, with 32% of the market share.
Furthermore, methacrylate is also utilized to manufacture a wide range of medical and dental applications due to purity and stability. The application includes intravenous (IV) tubing connectors, hyperbaric chambers, medical pumps, filter housings & heart valves, dentures, bridges, baby incubators, artificial teeth, and dental prosthetics is expected to drive the market growth during the forecast period. Also, physicians use cement containing methacrylate-based polymers and liquid monomers in hip replacements and dentists in white dental fillings with liquid monomers polymerized in situ.
Methacrylate Monomer Market Segmentation Analysis
By type, the market is segmented into methyl methacrylate, butyl methacrylate, ethyl methacrylate, 2-ethyl hexyl methacrylate, others. The market is segmented into adhesives, coatings, composite resins, construction, acrylic sheets, and others. The market is segmented into building & construction, oil & gas, automotive, computer & electronic, healthcare, and others by end-user.
The increasing demand of the computer & electronics industries is expected to increase market growth during the forecast period due to the increased use of methacrylate-based polymers to manufacture flat-screen computer monitors, televisions, DVDs, and compact discs, and laser discs. Also, printed circuit board coatings contain methacrylate polymers, increasing corrosion resistance and increasing their service life. Moreover, most acrylic paint types include one or more methacrylate-based polymer products, which allow coatings & paints to be used efficiently and offer various significant features such as durable, long-lasting coating and other factors that may cause different types of coatings to degenerate. Also, methacrylate-based polymers' durability is essential in the massive majority of applications such as roadway marking paints.
Global Methacrylate Monomer Market Geographical Share
APAC dominates the methacrylate market during the forecast period due to the availability of raw materials and the growing industrial applications. Moreover, methacrylate monomers are highly used in aerospace, automobiles, construction, and electronic industries. The APAC methacrylate monomers market's growth is driven by the rising demand for methacrylate monomers in the building and automotive industry. According to industry analysis, China dominated the APAC region's car market in 2019, generating around 20.4 million sales, followed by japan generating approximately 3.6 million sales. Together, China and India hold the largest coating market in this region and are the fast-growing countries regarding coatings consumption.
Furthermore, North America holds the second-largest market share of the methacrylate monomers market, followed by Europe and is expected to contribute significant growth in the market due to growing demand in the healthcare industry and electronic industry. According to industry analysis, the U.S dominates the North American region with a value expected to reach USD 88,393 from the recorded value of USD 74,860 with a CAGR of 4.24% during the forecast period.
Methacrylate Monomer Market Companies and Competitive Landscape
The methacrylate monomer market is fragmented with the presence of regional and global players. The competitive contour lies with the increase in the regional company and growing investment in upstream application. BASF SE, Evonik Industries AG, Mitsubishi Chemical Holdings Corporation, Nippon Shokubai Co. Ltd., Arkema Group, Hitachi Chemical Co. Ltd., Millipore Sigma, Miwon Commercial Co. Ltd., Fushun Anxin Chemical Co. Ltd., Bimax Chemicals Ltd. are the major player in the monomers market. The major players adopted several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the methacrylate monomer market globally.
BASF SE
BASF manufactures the behenyl methacrylate 1822 F (BEMA 1822 F). It is the form of homopolymers and copolymers. Copolymers of BEMA 1822 F are prepared with (meth)acrylic acid, esters, amides, methacrylates, acrylonitrile, maleic acid esters, vinyl acetate, unsaturated polyesters, drying oils, and others. Moreover, BEMA 1822 F is also a very useful feedstock for chemical syntheses due to its readily undergoing further reactions with a broad class of organic and inorganic compounds. Also, it is used in oil additives as a flow/viscosity index improver for extremely paraffinic oils and pours point depressants. It has been used in textile finishes, varnishes, pressure-sensitive adhesives, or co-monomers in paint resins & plastics.
Furthermore, BEMA 1822 F is a mixture of mainly C18, C20 and C22 fatty alcohol methacrylates, low volatility, water-insoluble, a monofunctional monomer with a high characteristic reactivity of methacrylates and a hydrophobic moiety. Besides, it can be used to impart the following properties to polymers: hydrophobicity, adhesion, weather resistance, low shrinkage, water/chemical resistance, flexibility, impact strength.
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