Report Overview

Global Methacrylate Monomer Market- Industry Trends & Forecast Report 2028

The global methacrylate monomer market was worth USD 8,089 million in 2021, and it is further projected to reach USD 11,672 million by 2028, exhibiting a CAGR of 5.5% during 2022-2028 (forecast period). The growth in the methacrylate monomer market is driven by the large demand for Methacrylate monomers from the industries in the Asia-Pacific region such as automotive, electronics, architecture & construction, as there is no substitute for methacrylate monomers in the market. Additionally, increasing demand for the production of polymethyl methacrylate (PMMA) and many other polymers as methacrylate monomers are rich in acyclic properties is anticipated to drive the growth of the global methyl methacrylate market during the forecast period.

Methacrylate Monomer Overview

Methacrylate is a class of chemicals derived from methacrylic acid. Methacrylate is made by combining methacrylic acid with suitable alcohol. Acrylic-based polymerization products generally use methacrylate monomers as building blocks. They're polymerized into polymethylacrylate, which is used in a variety of applications. It is derived to be used in a broad range of compounds used in various end-user industries such as paints & coatings, adhesives & sealants, plastics, etc.

Methacrylate Monomer Market Trends

Growth Drivers

Increase Demand for Acrylic Resins Driving the Growth of Global Methacrylate Monomers Market

Methacrylate monomers are widely used in various end-user industries for enhancing performance and are majorly used as the foundation of acrylic-based polymerization products; methacrylate monomers are polymerized to form polymethylacrylate. Moreover, the rising demand for acrylic resins in products such as instrument clusters lights for cars and trucks motivates the growth of methacrylate monomers. PMMA can be molded into knobs on the sinks, contact lenses, sunglasses lenses, and eyeglasses. Evonik Industries supplies PMMA products by the brand name PLEXIGLAS to be used in aircraft passenger cabins, helicopters, submarines, automotive windshields, and glazing systems for rear side windows and roofs and rear windows. PLEXIGLAS glazing, launched by Evonik, is 40% to 50% lighter than conventional glass, which is of great interest to acrylic resins products manufacturer. These large-scale uses of methacrylate monomers lead to their large-scale demand across various sectors, thus driving the growth of the global methacrylate market during the forecast period.

Continuously Growing Automotive Industries Accelerating The Global Methacrylate Monomer Market

The demand for methacrylate monomers has increased due to the rising demand from the automotive sector. The automotive industries are dominating the methacrylate monomers market during the forecast period. Interior and exterior panels such as bumpers, trims, fenders, and other molded pieces are made with methacrylate monomer-based products in the automotive industry. Moreover, the methacrylate monomer is ideal for automotive topcoats and provides a high gloss effect and protection against chemical and mechanical stress. According to OICA (The Organisation Internationale des Constructeurs d'Automobiles), the number of passenger vehicles production increased from 68,539,516 units in 2015 to 71,750,946 units in 2018. Hence, the growing automotive industry is expected to drive the methacrylate monomers market.

Restraints

Health Problems Associated with Methacrylate to Affect the Global Methacrylate Monomer Market Growth

Methacrylate monomers are used to produce polymers and copolymers that are majorly utilized in the manufacturing of clear plastics, paper coatings, dental surgery, molds, acrylic sheets, floor polish, and others. The United States Environmental Protection Agency (EPA) claims that methacrylate monomers are likely to be harmful to humans. It can cause skin problems and eye problems, and also the inhalation of small droplets of methacrylate monomers can be harmful to the lungs and can lead to nose and throat irritation. Methacrylate monomers are considered reactive chemicals that should be handled under recommended storage conditions. These factors are anticipated to impede the growth rate of the global methacrylate monomer market.

Impact of COVID-19 On the Global Methacrylate Monomer Market

Due to the outbreak of the novel coronavirus (COVID-19), automobile and component manufacturing plants have been shut down around the world, consumer footfalls in showrooms have fallen down sharply, vehicle sales have dropped dramatically, and almost every major industry event is either being canceled or going the digital way. This has directly affected the methacrylate monomers market as demand for automobiles has decreased. The impact of the coronavirus on other markets, and particularly China, has also led to disruption in supply chains. This is particularly concerning considering that the global automotive industry reportedly imports more than $34 billion in parts from China.

Global Methacrylate Monomer – By Derivatives

Based on the derivatives, the market is segmented into methyl methacrylate, butyl methacrylate, ethyl methacrylate, stearyl methacrylate, and others. Amidst the segmentation, the methyl methacrylate monomer holds the strongest position in the market, as methyl methacrylate is the common monomer for manufacturing polymethyl methacrylate, and many other acrylic polymer plastics are formed. Methacrylate monomers such as polymethyl methacrylate (PMMA) installs have superior transparency, harsh weather resistance, and properties, increasing demand for the use in signboards and displays, lighting equipment, automotive parts, construction materials, and many more.

Global Methacrylate Monomer Market- By Applications

Based on the applications, the global methacrylate monomer market is segmented into acrylic sheets, molding, paints & coatings, adhesives & sealants, composites, additives, and others. Amidst the segmentation, acrylic sheets and molding hold major part of the market due to the rising growth of acrylic resins in products such as instrument clusters and taillights for cars. Moldings are used in different construction and architecture works as they help in providing strength and flexibility to the structure, which supports the growth of segmental market growth.

Global Methacrylate Monomer Market- By End-Users

Based on the end-users, the methacrylate monomer market is differentiated into automotive, architecture & construction, electronics, IT & communications, healthcare, industrial, and others. The automotive segment generates the highest revenue and holds the strongest position in the global market. Furthermore, the increasing demand of the automotive sector is expected to boost the methacrylate market growth during the forecast period since there has been a growing demand for automotive interior accessories like holders, coatings, acrylic sheets, interior & exterior panels, bumpers, fenders, and others. Moreover, the IT and telecommunication industry's accelerated development has increased the demand for methacrylate-based products due to their unique optical characteristics. The overall automotive market will grow to USD 3,800 billion by 2030, thus driving the demand for the methacrylate monomers substantially over the forecast period.

Global Methacrylate Monomer Market- Regional Insights                                 

In terms of the regional analysis, the methacrylate monomer market is classified into North America, Europe, the Asia-Pacific, Latin America, The Middle East, and Africa. Amidst the segmentation, the Asia-Pacific region holds the largest market share in the global market. This can be mainly attributed to the increasing demand from the automotive industries and construction sites. Moreover, the rapidly increasing population and the presence of developing economies are also expected to boost residential construction. Many methacrylate monomers manufacturers are setting up and nourishing their production units in the region. Additionally, the Asia-Pacific region works on the lowest manufacturing cost, driving the growth rate of the methacrylate market in the region.

Competitive Landscape

The global methacrylate monomer market is characterized by the presence of many local, regional, and global vendors. The market for methacrylate monomer is partially consolidated, with fierce competition among the leading players. The leading players operating in the global methacrylate monomer market are Mitsubishi Chemical, Evonik Industries, Dow Chemical, Eastman Chemical Company, Sumitomo Chemical, LG Chem, Arkema, Hitachi Chemical, Nippon Shokubai, Chi Mei Corporation, BASF SE, Esstech Inc., Melrob Group, Fushun Anxin Chemical Co. Ltd., MPD Chemicals LLC, Norquay Technology, GELEST INC., KURARAY CO. LTD., Chi Mei Corporation, Ted Pella Inc. and other prominent players.

Recent Development

• In March 2020: Royal Dutch Shell PLC has announced that it will double the capacity of its lubricant blending plant in Bekasi, Indonesia, to 300 million liters per year by 2022, helping to meet the increasing demand of the domestic lubricant market in the coming years.

• In June 2019: Brenntag AG, a strong ExxonMobil distributor, announced the acquisition of B&M Oil Company, a regional lubricant distributor based in Oklahoma, to expand its lubricants business.

Scope of Report

By Derivatives

• • •  
• Methyl Methacrylate
• Butyl Methacrylate
• Ethyl Methacrylate
• Stearyl Methacrylate
• Others.

By Applications

• • •  
• Acrylic Sheets
• Molding
• Paints & Coatings
• Adhesives & Sealants
• Composites
• Additives
• Others

By End-Users

• • •  
• Automotive
• Architecture & Construction
• Electronics
• IT & Communication
• Healthcare
• Industrial
• Others

By Region

• • •  
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Global Methacrylate Monomer Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Landscape/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Global Methacrylate Monomer Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Derivatives
         1. Methyl Methacrylate
         2. Butyl Methacrylate
         3. Ethyl Methacrylate
         4. Stearyl Methacrylate
         5. Others
      2. By Applications
         1. Acrylic Sheets
         2. Molding
         3. Paints & Coatings
         4. Adhesives & Sealants
         5. Composites
         6. Additives
         7. Others
      3. By End-Users
         1. Automotive
         2. Architecture & Construction
         3. Electronics
         4. Advertisement & Communication
         5. Healthcare
         6. Industrial
         7. Others
      4. By Region
         1. North America
         2. Europe
         3. The Asia Pacific
         4. Latin America
         5. The Middle East and Africa
6. North America Methacrylate Monomer Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Derivatives
      2. By Applications
      3. By End-Users
      4. By Country
         1. United States
         2. Canada
7. Europe Methacrylate Monomer Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Derivatives
      2. By Applications
      3. By End-Users
      4. By Country
         1. Germany
         2. United Kingdom
         3. Italy
         4. France
         5. Spain
         6. Rest of Europe
8. The Asia Pacific Methacrylate Monomer Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Derivatives
      2. By Applications
      3. By End-Users
      4. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of Asia Pacific
9. Latin America Methacrylate Monomer Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Derivatives
      2. By Applications
      3. By End-Users
      4. By Country
         1. Brazil
         2. Mexico
         3. Rest of Latin America
10. The Middle East &Africa Methacrylate Monomer Market
    1. Market Size & Forecast by Value, 2018-2028
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Derivatives
       2. By Applications
       3. By End-Users
       4. By Country
          1. Saudi Arabia
          2. UAE
          3. South Africa
          4. Rest of Middle East & Africa
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership)
12. Impact of COVID-19 on Global Methacrylate Monomer Market Industry
13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Mitsubishi Chemical
    2. Evonik Industries
    3. Dow Chemical
    4. Eastman Chemical Company
    5. Sumitomo Chemical
    6. LG Chem
    7. Arkema
    8. Hitachi Chemical
    9. Nippon Shokubai
    10. Chi Mei Corporation
    11. BASF SE
    12. Esstech Inc.
    13. Melrob Group
    14. Fushun Anxin Chemical Co. Ltd.
    15. MPD Chemicals LLC
    16. Norquay Technology
    17. GELEST INC.
    18. KURARAY CO. LTD.
    19. Chi Mei Corporation
    20. Gantrade Corporation
    21. Ted Pella Inc.
    22. Other prominent players.
14. Key Strategic Recommendations

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1        Global Methacrylate Monomers Segmentation

Figure 2        Global Methacrylate Monomers Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Global Methacrylate Monomers Market Size, By Value (USD Million), 2018-2028

Figure 5        Global Methacrylate Monomers Market Share, By Derivatives, By Value, 2018-2028

Figure 6        Global Methacrylate Monomers Market Share, By Applications, By Value, 2018-2028

Figure 7        Global Methacrylate Monomers Market Share, By End-Users, By Value, 2018-2028

Figure 8        Global Methacrylate Monomers Market Share, By Region, By Value, 2018-2028

Figure 9        North America Methacrylate Monomers Market Size, By Value (USD Million), 2018-2028

Figure 10       North America Methacrylate Monomers Market Share, By Derivatives, By Value, 2018-2028

Figure 11       North America Methacrylate Monomers Market Share, By Applications, By Value, 2018-2028

Figure 12       North America Methacrylate Monomers Market Share, By End-Users, By Value, 2018-2028

Figure 13       North America Methacrylate Monomers Market Share, By Country, By Value, 2018-2028

Figure 14       Europe Methacrylate Monomers Market Size, By Value (USD Million), 2018-2028

Figure 15       Europe Methacrylate Monomers Market Share, By Derivatives, By Value, 2018-2028

Figure 16       Europe Methacrylate Monomers Market Share, By Applications, By Value, 2018-2028

Figure 17       Europe Methacrylate Monomers Market Share, By End-Users, By Value, 2018-2028

Figure 18       Europe Methacrylate Monomers Market Share, By Country, By Value, 2018-2028

Figure 19       The Asia-Pacific Methacrylate Monomers Market Size, By Value (USD Million), 2018-2028

Figure 20       The Asia-Pacific Methacrylate Monomers Market Share, By Derivatives, By Value, 2018-2028

Figure 21       The Asia-Pacific Methacrylate Monomers Market Share, By Applications, By Value, 2018-2028

Figure 22       The Asia-Pacific Methacrylate Monomers Market Share, By End-Users, By Value, 2018-2028

Figure 23       The Asia-Pacific Methacrylate Monomers Market Share, By Country, By Value, 2018-2028

Figure 24       Latin America Methacrylate Monomers Market Size, By Value (USD Million), 2018-2028

Figure 25       Latin America Methacrylate Monomers Market Share, By Derivatives, By Value, 2018-2028

Figure 26       Latin America Methacrylate Monomers Market Share, By Applications, By Value, 2018-2028

Figure 27       Latin America Methacrylate Monomers Market Share, By End-Users, By Value, 2018-2028

Figure 28       Latin America Methacrylate Monomers Market Share, By Country, By Value, 2018-2028

Figure 29       The Middle East & Africa Methacrylate Monomers Market Size, By Value (USD Million), 2018-2028

Figure 30       The Middle East & Africa Methacrylate Monomers Market Share, By Derivatives, By Value, 2018-2028

Figure 31       The Middle East & Africa Methacrylate Monomers Market Share, By Applications, By Value, 2018-2028

Figure 32       The Middle East & Africa Methacrylate Monomers Market Share, By End-Users, By Value, 2018-2028

Figure 33       The Middle East & Africa Methacrylate Monomers Market Share, By Country, By Value, 2018-2028

List of Tables

Table 1         Global Methacrylate Monomers Market Size, By Derivatives, By Value, 2018-2028

Table 2         Global Methacrylate Monomers Market Size, By Applications, By Value, 2018-2028

Table 3         Global Methacrylate Monomers Market Size, By End-Users, By Value, 2018-2028

Table 4         Global Methacrylate Monomers Market Size, By Region, By Value, 2018-2028

Table 5         North America Methacrylate Monomers Market Size, By Derivatives, By Value, 2018-2028

Table 6         North America Methacrylate Monomers Market Size, By Applications, By Value, 2018-2028

Table 7         North America Methacrylate Monomers Market Size, By End-Users, By Value, 2018-2028

Table 8         North America Methacrylate Monomers Market Size, By Country, By Value, 2018-2028

Table 9         Europe Methacrylate Monomers Market Size, By Derivatives, By Value, 2018-2028

Table 10        Europe Methacrylate Monomers Market Size, By Applications, By Value, 2018-2028

Table 11        Europe Methacrylate Monomers Market Size, By End-Users, By Value, 2018-2028

Table 12        Europe Methacrylate Monomers Market Size, By Country, By Value, 2018-2028

Table 13        The Asia-Pacific Methacrylate Monomers Market Size, By Derivatives, By Value, 2018-2028

Table 14        The Asia-Pacific Methacrylate Monomers Market Size, By Applications, By Value, 2018-2028

Table 15        The Asia-Pacific Methacrylate Monomers Market Size, By End-Users, By Value, 2018-2028

Table 16        The Asia-Pacific Methacrylate Monomers Market Size, By Country, By Value, 2018-2028

Table 17        Latin America Methacrylate Monomers Market Size, By Derivatives, By Value, 2018-2028

Table 18        Latin America Methacrylate Monomers Market Size, By Applications, By Value, 2018-2028

Table 19        Latin America Methacrylate Monomers Market Size, By End-Users, By Value, 2018-2028

Table 20        Latin America Methacrylate Monomers Market Size, By Country, By Value, 2018-2028

Table 21        The Middle East & Africa Methacrylate Monomers Market Size, By Derivatives, By Value, 2018-2028

Table 22        The Middle East & Africa Methacrylate Monomers Market Size, By Applications, By Value, 2018-2028

Table 23        The Middle East & Africa Methacrylate Monomers Market Size, By End-Users, By Value, 2018-2028

Table 24        The Middle East & Africa Methacrylate Monomers Market Size, By Country, By Value, 2018-2028

Table 25        Mitsubishi Chemical Company Overview

Table 26        Mitsubishi Chemical Financial Overview

Table 27        Evonik Industries Company Overview

Table 28        Evonik Industries Financial Overview

Table 29        Eastman Chemical Company Company Overview

Table 30        Eastman Chemical Company Financial Overview

Table 31        Sumitomo Chemical Company Overview

Table 32        Sumitomo Chemical Financial Overview

Table 33        Arkema Company Overview

Table 34        Arkema Financial Overview

Table 35        Nippon Shokubai Company Overview

Table 36        Nippon Shokubai Financial Overview

Table 37        Chi Mei Corporation Company Overview

Table 38        Chi Mei Corporation Financial Overview

Table 39        BASF SE Company Overview

Table 40        BASF SE Financial Overview

Table 41        Melrob Group Company Overview

Table 42        Melrob Group Financial Overview

Table 43        Fushun Anxin Chemical Co. Ltd. Company Overview

Table 44        Fushun Anxin Chemical Co. Ltd. Financial Overview

Table 45        MPD Chemicals LLC Company Overview

Table 46        MPD Chemicals LLC Financial Overview

Table 47        Norquay Technology Company Overview

Table 48        Norquay Technology Financial Overview

Table 49        GELEST INC. Company Overview

Table 50        GELEST INC. Financial Overview

Table 51        KURARAY CO. LTD. Company Overview

Table 52        KURARAY CO. LTD. Financial Overview

Table 53        Chi Mei Corporation Company Overview

Table 54        Chi Mei Corporation Financial Overview