Methacrylate Monomers Market Industry Share, Size, Trends, Analysis, Overview, Future Growth, Price, Demand And Forecast to 2023
Methacrylate Monomers Market Overview
The Methacrylate Monomers Market is driven by various application and end user industry. It is used in various applications such as coatings, paints, inks, elastomers, adhesives, and others, which are highly used in numerous industries such as automotive, aerospace, construction, and others. In addition to this, growth of automotive and construction industry are the major industries for consumption of methacrylate monomers, for instance it used in construction industry as industrial flooring, reactive road marking systems, concrete repair compounds, binders for concrete admixtures, and liquid water proofing compounds. On the basis of geography, market share of methacrylate monomers is high in Asia Pacific region and is also expected to increase at a high growth rate as compared to other regions such as Europe, North America, and RoW.
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Key Players:
- Mitsubishi Rayon Co. Ltd
- Sumitomo Chemical Co.Ltd
- Chi Mei Corporation
- Sumitomo Chemical Co.Ltd
Regional Analysis
APAC region is anticipated to lead the market during the forecast period due to the high obtainability of methacrylate monomers raw materials and the growing industrial applications in due to high consumption in China, Japan, India, South Korea, and others countries. Methacrylate monomers is highly used in automobiles, aerospace, construction, and other industries. The growth of Asia Pacific methacrylate monomers market is driven by the large rising demand of methacrylate monomers in construction and automotive industry. Methacrylate monomers used in various applications such as coatings, paints, inks, elastomers, adhesives, and others. Furthermore, Asia Pacific’s coatings industry is encompasses of huge and developing countries.
China and India together considered as the largest coating market of this region. In addition to these countries, Asia Pacific is also included of many fast-growing countries in terms of coatings consumption such as Indonesia, Vietnam, Malaysia, Thailand, etc. The Asia Pacific region is developing economy owing to this the growth of construction industry, which is further accelerating demand of methacrylate monomers. On the other hand adhesives application of methacrylate monomers in growing industry such as in marine, automotive, aerospace, and construction will boost the consumption of methacrylate monomers in this region. The Asia Pacific region methacrylate monomers market is also segmented on the basis of derivatives, such as behenyl methacrylate, tert-butyl methacrylate, cyclohexyl methacrylate, iso-decyl methacrylate, stearyl methacrylate, and others.
Whereas, North America holds second position for global methacrylate monomers market followed by Europe region. Moreover, Middle East, Latin America and South Africa is an emerging region for methacrylate monomers market due to increasing consumption of methacrylate monomers in various industries such as automotive, aerospace, construction, and other industries.
Segmentation
The Global Methacrylate Monomers Market is majorly segmented on the basis of derivatives, application, end users and region. Based on derivatives of methacrylate monomers the market is segmented into behenyl methacrylate, tert-butyl methacrylate, cyclohexyl methacrylate, iso-decyl methacrylate, stearyl methacrylate, and others. Furthermore, based on application of methacrylate monomers the market is segmented into as coatings, paints, inks, elastomers, adhesives, and others. On the other hand, based on end user the market segmented into architectural, automotive¸ aerospace, marine, construction, and others, and based on region market is segmented into North America, Europe, APAC, Latin America, Middle East & Africa.
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