Market Definition:
Methacrylic ester monomers are involved in the production of various kind of polymers with the polymerization reaction. Methacrylic ester enhance the flow properties of oil which make it suitable for utilization in the manufacturing of lubricants. It is used as adhesives, oil additives, sizing agent, and binder in numerous end use industries such as pulp & paper, paint & coatings, lubricant, textile, and construction.
Market Scenario and Growth Factors:
Some of the prominent market factors that positively influence the COVID-19 Impact on Methacrylic Ester Market growth are increasing demand from construction sector as well as improving automotive industry. Rapid industrialization coupled with increasing disposable income in emerging economies are predicted to drive market growth in the upcoming years. Furthermore, increasing investment in the institutional as well as industrial construction sector is anticipated to give new impetus to the methacrylic ester demand over the forecast period. However, methacrylic ester is relatively slightly toxic which might hinder the market growth in the next few years. Additionally, growth in the digitalization and ease in availability of online material might restrict the use of paper and stationary materials which in turn hamper market growth in near future.
Competitive analysis:
The major players operating in the methacrylic ester market include:
- BASF SE
- The Dow Chemical Company
- Evonik
- U-PICA Company.Ltd.
- Sigma-Aldrich Co. LLC.
- MITSUBISHI GAS CHEMICAL COMPANY, INC.
- Fushun Anxin Chemical Co., Ltd.
- NOF CORPORATION.
- Michelman, Inc.
- Lucite International
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of key vendors.
Market Segmentation: –
The global Methacrylic Ester Market is divided into application, end use industry and region. On the basis of application, the market is segmented into sizing agent, adhesives, oil additives, binder, and others. Based on end use industries, the market is categorized into pulp & paper, lubricant, paint & coatings, textile, construction and others. Lubricant is expected to hold the maximum share owing to the increasing consumption of lubricants in transportation and industrial application. Moreover, increasing number of commercial vehicle, passenger vehicle, and growth in marine and aviation industries are anticipated to fuel market growth. It provide high resistance to penetration of water and other liquids into the paper, which make it suitable to be used as a sizing agent in pulp & paper industry. It enhance stability and provide better sticking properties thus make it suitable for various types of paint coatings such as automotive coatings, industrial coatings, architectural & decorative coatings, marine & protective coating, and paper & packaging coating. They are widely used as a binder for non- woven and fabrics in textile industry. Apart from this, gradually increasing demand for the floor cleaning products, is also helping driving revenues in the global methacrylic ester market.
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Regional Analysis:
Asia Pacific is anticipated to be the largest market for methacrylic ester market followed by North America and Europe on account of increasing demand from lubricant, paint & coatings, and construction. Developing countries such as India, China, and Malaysia are the fastest growing market for methacrylic ester, and is expected to grow with the same pace in the upcoming years. Ease in the availability of raw material, improved standards of living, and competitive production costs are also the important factors further fuel the COVID-19 Impact on Methacrylic Ester Market Market in the Asia Pacific region. North America methacrylic ester market is expected to witness a steady growth with Canada and U.S. being major contributor due to textile and pulp & paper industry expansion. Europe is anticipated to witness a substantial growth over the forecast period due to technological advancement and increasing R&D spending by key players in the methacrylic ester market.
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