Glycidyl Methacrylate Market Overview:
The global glycidyl methacrylate market is showing substantial promise of growth where there is a possibility of surpassing a valuation of USD 15,654.7 million by the end of 2030. Market Research Future’s report reveals further forecasts for the glycidyl methacrylate market during the forecast period of (2022-2030).
Glycidyl methacrylate (GMA) can be defined as an ester of methacrylic acid and glycidol that finds substantial use in the making of epoxy resins. With the growing demand for plastic-made products around the world, the demand for glycidyl methacrylate is slated to rise. The glycidyl methacrylate market would benefit substantially from countries like China and Japan where several booming industries are making it a point to increase their intake of glycidyl methacrylate. In addition, the increasing demand for plastic adhesives can ensure a better growth rate for the market. However, the glycidyl methacrylate market has some hurdles to cross and they are strict regulations and high import-export duties. These can deter the glycidyl methacrylate market from having a smooth growth in the coming years.
Glycidyl Methacrylate Market Segmentation:
The global market report on the glycidyl methacrylate market has a segmentation based on application and end user. These segments have been studied in great detail to get an extensive look at how the market is operating. This would help in developing better strategies in the coming years and optimizing the profit.
By application, the glycidyl methacrylate market report can be segmented into adhesives, plastics, and polymer coating. The plastics segment is leading the global market and, in the coming years, its growth would be around 5.91% CAGR.
By end users, the glycidyl methacrylate market report has segments like manufacturing units and packaging units. The manufacturing unit segment is leading the global market by covering almost 61% of the global market share.
Glycidyl Methacrylate Market Regional Analysis:
The global market for the glycidyl methacrylate market has been discussed in the report on the same where the Asia Pacific region has been marked as the largest market. The regional market is doing great as countries like Japan and China are creating huge space for the market to operate. Growth in various industries and outstanding performance from the manufacturing and packaging sectors would help the regional glycidyl methacrylate market fetch better revenues. The APAC market covers around 49% of the global share with the possibility of reaching a valuation of $7,503.0 million by 2027.
The North American market is the second-largest one with a projected valuation of USD 3358.9 million by 2027. Europe is slated to be recognized as the fastest-growing regional market. Its growth would be backed by the hike in demand for plastic goods.
Glycidyl Methacrylate Market Industry News:
In November 2019, researchers at the Superfund Research Center at Texas A&M University announced that they got good results from their efforts of categorizing industrial chemical intermediates and solvents that included the updated monograph preamble using mechanistic data.
In January 2020, applications for patents have been filed to register glycidyl methacrylate as one of the possible monomers needed for the creation of polymeric protective layers on magnesium anodes. The patent application was filed by researchers from Toyota Motor Engineering Manufacturing North America, Inc.
Glycidyl Methacrylate Market Competitive Landscape:
There are several companies playing crucial roles in the glycidyl methacrylate market to take it forward. These companies are Mitsubishi Gas Chemical Company, Inc, Dow Chemicals, Evonik Industries, Sumitomo Chemicals, Estron Chemicals, Wuhan Sincere-star Chemical Co., Ltd, Lianyungang Ningkang Chemical Co. Ltd, and others. These companies are expected to launch their unique market strategies to develop various core ideas and ensure strong growth for the glycidyl methacrylate market. These strategies would witness the inclusion of top-class products, innovation, hike, in investment, better mergers & acquisitions plans, collaboration, marketing strategies, and others. Successful execution of these strategies would ensure a hike in the market revenues.
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