The global methacrylate monomers market is projected to grow from USD 8.85 Billion in 2017 to USD 11.26 Billion by 2022, at a CAGR of 4.9% in terms of value. Factors driving the growing use of methacrylate monomers are the application expansion achieved through the improved quality of methacrylate monomers and increased demand for acrylic sheets, molding compounds, surface coatings, and additives in various end-use industries such as automotive, architecture and construction, electronics, and others globally. Increasing use of methacrylate monomers as a raw material in the manufacturing of caprolactone monomers, acrylic polyols, adhesives, printing plates, sealants, binders, finish coatings, thermosetting paints for appliances and vehicles, and textile fiber gratings are driving the growth of the methacrylate monomers market globally.
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The molding segment is projected to lead the methacrylate monomers market
In terms of value, the molding segment is projected to lead the methacrylate monomers market during the forecast period. The molding segment is projected to represent the bulk of demand and witness high growth across the globe due to the increasing demand of for acrylic resins in end-use products such as instrument clusters and tail lights of cars and trucks. Methacrylate monomers are polymerized into PMMA in the form of pellets and beads, which are further molded into several end-use products.
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Among applications, the automotive segment is projected to grow at the highest CAGR
Among applications, the automotive segment is projected to grow at the highest CAGR during the forecast period, in terms of value. One of the uses of methacrylate monomers in the automotive industry is mainly for automotive glazing. Evonik Industries supplies PMMA products under the brand name PLEXIGLAS to be used in aircraft passenger cabins, helicopters, submarines, automotive windshields, and as glazing systems for rear side windows, roofs, and rear windows. PLEXIGLAS glazing, launched by Evonik, is 40% to 50% lighter than conventional glass, which is of great interest to vehicle manufacturers.
- Acrylic Acid Market
- Polymethyl Methacrylate PMMA Market
- Cast Acrylic Sheet Market
- Acrylic Ester Market
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