The new report by Expert Market Research titled, 'Global Methacrylic Acid Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025', gives an in-depth analysis of the global methacrylic acid market, assessing the market based on its segments like end-uses, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Forecast CAGR (2020-2025): 5%
The global methacrylic acid market is being driven by the rising demand for construction activities for improved structures, along with the growing demand for light panels, display panels, and others from the electronics segment. Surging investments in residential and non-residential activities globally are escalating the growth of methacrylic acid in the market as the product finds it major applications as a copolymer used in the construction and paint industries. Increasing disposable incomes accompanied by the growing rate of urbanisation, mostly in the emerging economies, is driving the demand for electronics and automobiles, which has led to the rising demand for methacrylic acid as well. With rapid technological advancements and expanding market opportunities, the methacrylic acid market is expected to flourish with a CAGR of 5% during the forecast period. Although volatile petrochemicals market still remains a restraining factor.
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Industry Definition and Major Segments
Methacrylic acid is a colourless, odourless organic compound belonging to the carboxylic acid group. It is a major feedstock in the preparation of copolymers like methyl methacrylate and polymethyl methacrylate, which find their application extensively in the construction, paint, electronics, and automobile industries.
Based on application, the industry is divided into:
• Fibre Processing Agent
• Rubber Modifier
• Leather Treatment
• Paper Processing Agent
• Lubricant Additive
• Cement Mixing Agent
Basis end-use industry, the market is segmented into:
The electronics segment is anticipated to witness a high growth rate over the coming years with properties like energy efficiency and lightweight, which is contributing significantly to the overall market growth.
The regional markets for methacrylic acid include:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Among the regional markets, Europe and the Asia Pacific are the fastest-growing markets with wide applications of the product and with rising investments in the construction and automobile industries in the regions.
The rising demand from end-use segments like electronics, especially for display panels, along with automotive industries for lightweight and energy-efficient vehicles, are some of the factors driving the global methacrylic acid market. With new capacity additions and plant expansions, the methacrylic acid market is expected to witness a positive growth in the forecast period. For instance, Lucite International has planned to build a 350 kilotons per annum MMA facility in the US. In addition to this, the continuous demand from the paints and adhesives market is also expected to propel the demand for methacrylic acid in the market. Strong demand for protective PMMA sheets from the Asia Pacific region is anticipated to boost the market for methacrylic acid.
Key Market Players
The major players in the market are Evonik Industries A.G. (ETR: EVK), Mitsubishi Gas Chemical Company, Inc (TYO: 4182), BASF SE, and Kuraray Co., Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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