Methacrylate is a family of compounds that originates frommethacrylic acid. Methacrylate is produced by reacting methacrylic acid withappropriate alcohol. Methacrylate monomers are primarily used as buildingblocks of acrylic-based polymerization products. They are polymerized to formpolymethylacrylate, which is further employed in several applications.Methacrylate possesses characteristics such as durability, strength,flexibility, and transparency. It can be derived to form a wide range ofcompounds, which can be used in industries such as paints & coatings,adhesives & sealants, and plastics.
The methacrylatemonomers market can be segmented based on derivative, application,end-use industry, and region. Based on derivative, the methacrylate monomersmarket can be divided into methyl, ethyl, butyl, and others. In terms ofapplication, the methacrylate monomers market can be segregated into adhesives& sealants, acrylic sheets, PVC modifiers, elastomers, composites,intermediates, additives, and others. Based on end-use industry, the market canbe classified into building & construction, healthcare, oil & gas,paints & coatings, pulp & paper, plastics, textile, waste watertreatment, electronics, and others. The paints & coatings segment canbe sub-divided into industrial, packaging, textile, medical, automotive,architectural, and others. The electronics segment can be also sub-segmented intoLED & LCD displays, compact discs, lighting equipment, printed circuitboard coatings, and others. Based on region, the methacrylate monomers marketcan be split into North America, Europe, Asia Pacific, Latin America, andMiddle East & Africa.
Wide applicabilityof methacrylate compounds is the driving factor of the methacrylate monomersmarket. Demand for methacrylate monomers for polymerization is rising owing toits highly reactive double bonds. Thus, demand for numerous methacrylatederivatives is expected to increase during the forecast period. Recyclingability and inexpensive nature of methacrylate compounds are estimated to boostthe methacrylate monomers market in the next few years. Methyl methacrylate(MMA) is used as PVC modifier, chemical intermediate, and cement in hip andknee replacements. Usually, it is used in the production of ethyl and butylmethacrylate compounds.
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In termsof derivative, methyl and ethyl segments are estimated to account for largeshare of the methacrylate monomers market during the forecast period. Theintermediate application segment of the methacrylate monomers market isanticipated to hold significant share during the forecast period. The acrylicsheets application segment is projected to expand at a rapid pace in the nextfew years. Electronics, medical, and paints & coatings end-use industrysegments are likely to constitute major share of the methacrylate monomersmarket in the near future. Demand for methacrylate compounds in electronics andpaints & coatings industries is rising owing to its scratch resistanceability.
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AsiaPacific is expected to account for large share of the methacrylate monomersmarket, followed by North America and Europe, during the forecast period. AsiaPacific is anticipated to offer lucrative opportunities to the methacrylatemonomers market in the near future, owing to low production costs in theregion. Expansion in automotive, electronics, paints & coatings, andbuilding & construction industries in Asia Pacific is estimated to boostthe methacrylate monomers market in the next few years. The methacrylatemonomers market in Latin America and Middle East & Africa is likely toexpand at a moderate pace in the near future.
Keyplayers operating in the methacrylate monomers market include Arkema Group,BASF SE, Mitsubishi Chemical Holdings Corporation, Evonik, and Asahi KaseiCorporation.
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