Methacrylate Monomers Market By Derivative, By Application, By End-User, By Geography — Global Industry Analysis, Growth, Share, Size, Trends, And Forecast 2019–2026

Global Methacrylate Monomers Market is valued to reach USD 10.5 Billion by 2022, exhibiting a CAGR of 4.2% over forecast period 2020–2026. Rising demand for acrylic resins in products such as instrument clusters and taillights for cars and trucks coupled with recycling ability and inexpensive nature of methacrylate compounds are factors driving the market growth.

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Methacrylates are building blocks of chemicals that are used in the making of polymers and plastics with several benefits such as stability, durability and scratch resistance. Methacrylates denotes methacrylates ester derivatives and methacrylic acid. It is also used in the medical and dental applications such as medical pump incubators, dentures, dental prosthetics and much more. Apart, in the paint industry, methacrylate monomers are significantly used for durability and enabling a high surface finish for majority of applications.

From the commercial standpoint, methacrylate monomers are preferred for its superior transparency, durability and other characteristics. For instance, apart from its extensive use in industrial sector, it encompasses end-user domain such as signboards and displays. The demand for monomers extends in the field of adhesives, coatings and plastic modifiers and in addition, high esters such as butyl-ester is produced by esterification of methacrylic acid. The global demand for methacrylate monomers is growing at a rapid pace which is anticipated to triple in the next five years. Manufacturers are emphasizing on major business coming from Asia Pacific countries in order to strengthen the production method. In Europe and the U.S. there are large plants operating under feasible costs thereby keeping the pollution under control. Although, the pollution factors being of great concern in Asia Pacific countries such as Japan, China and India, the production methods for monomers has undergone a substantial change in the recent years.

Methacrylate Monomers Market Trends, Drivers and Opportunities:

Methacrylate monomers market is driven by increase in demand in the automotive industry for instrument clusters and tail lamps as automotive applications. In addition, methacrylate monomers are extensively used for LCD and LED screens owing to extensive R&D activities by manufacturers. Rise in use in the semiconductor domain for developing printed circuit boards. However, health hazards due to extensive use of chemicals is likely to occur, which in turn confines the market progress.