Specialty methacrylate is a salt or ester of methacrylic acid, which is used in the manufacture of certain plastics. It is an ethacrylate monomer that is used as a specialty chemical in applications such as coatings, inks, paints, adhesives, and others. It is also used to enhance compatibility, impact modification, flexibility, and heat resistance capacity as a chemical intermediate. Methacrylate refers to derivatives of methacrylic acid. These derivatives include the parent acid (CH2C (CH3) CO2H), salts (e.g. CH2C (CH3) CO2−Na+), esters (e.g. CH2C (CH3) CO2CH3, or methyl methacrylate), and the polymers of these species. Methacrylates easily form polymers because the double bonds are very reactive. They are used as the monomer resin in some windscreen repair kits and as bone cement for fixing prosthetic devices in orthopedic surgery.
Factors such as rising demand from the automobile and electronics industries are driving the specialty methacrylate market. Furthermore, the expansion in the building & construction industry has also propelled the demand for specialty methacrylate. However, factors such as availability of cheaper substitutes is hampering the expansion of the specialty methacrylate market.
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In terms of derivatives, the specialty methacrylate market can be segmented into methy methacrylate, butyl methacrylate, ethyl methacrylate, and others.
Based on application, the specialty methacrylate market can be categorized into acrylic sheets, molding, paints & coatings, additives, and others. The Molding is expected to remain a prominent segment during the forecast period owing to rising demand for acrylic resins in products such as instrument clusters and taillights for cars.
In terms of end-use industry, the specialty methacrylate market can be divided into automotive, architecture & construction, electronics, advertisement & communication, and others. Automotive is a dominant segment owing to significant demand for specialty methacrylate in the automobile sector.
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Based on geography, the specialty methacrylate market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is expected to be a prominent region of the market owing to the presence of major players in the region and high demand from the signs and displays, architecture, construction, and automotive industries. Moreover, the market in the region is likely to be boosted by expansion in major economies such as China, India, South Korea, and Japan. Asia Pacific is projected to be followed by Europe and North America during the forecast period.
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Key players operating in the specialty methacrylate market include Mitsubishi Chemical, Evonik, Dow Chemical, Sumitomo Chemical, LG Chem, and Arkema.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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