Transparency Market Research in its new report titled, “Specialty Methacrylate Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the specialty methacrylate market. The TMR report anticipates that the rising demand from automobile and electronics industries will fuel the specialty methacrylate market during the forecast period i.e, 2018-2026. 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, says the report.
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.
The TMR report has segmented the specialty methacrylate market on the basis of derivatives, application, end-use industry and region. Based on derivatives, the specialty methacrylate market is split into methy methacrylate, butyl methacrylate, ethyl methacrylate, and others. In terms of application, the specialty methacrylate market is divided 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.
On a geographical stand, the specialty methacrylate market is classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Among these, 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. Major players operating in the specialty methacrylate market include are profiled in this report to give a better competitive analysis and these include Mitsubishi Chemical, Evonik, Dow Chemical, Sumitomo Chemical, LG Chem, and Arkema.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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