Specialty Methacrylate Market by Derivative (Lauryl Methacrylate, 1,4 Butylene Glycol Dimethacrylate), Application (Paint & Coating, Special Plastic, Construction, Additives), End User (Automotive, Plastic & Chemical) – Global Forecast to 2025
Pune, India – January 17, 2020 /MarketersMedia/ —
Almost all organic chemical products are currently produced from fossil oil; however, the petroleum-based system is currently facing global crisis due to fossil resource depletion. In addition, these products are costly and have higher rate of VOCs. Therefore, to overcome the challenges like shortage of petroleum-based raw materials, their higher cost, and higher VOCs; the key suppliers of methacylate monomers (both commodity and specialty monomers) were in search of alternative solutions from many decades. The bio-based platforms derived from renewable resources, such as agricultural products, lignocellulosic, and marine biomass have emerged as suitable solution to overcome these challenges. The biological base and availability of ample feedstocks make them cost effective, carbon neutral, and sustainable. Thus, bio-based methacrylate monomers have attracted much attention over the past decades with rising focus of key specialty methacylate monomer suppliers on the development of bio-based methacrylate monomer production process. For instance, Sartomer (Arkema Group) is already offering a wide range of bio-based specialty acrylates and methacrylates under the brand name SARBIO. Similarly, Mitsubishi Chemical Holdings Corporation has plans to use sustainable feedstocks for commercial MMA production. The company is already developing the MMA from renewable resources and has plans to achieve half of their MMA production and a portion of specialty methacrylate production from these renewable raw materials in next few years. The availability of such bio-based specialty methacrylate in near future is expected to create opportunities for the growth of this market.
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Meticulous Research® in its latest publication on Specialty Methacrylate market states that the global Specialty Methacrylate market is expected to grow at a CAGR of 6.1% from 2019 to 2025 to reach $2.66 billion by 2025. Growth of the global Specialty Methacrylate market is mainly attributed to increasing demand for sustainable low VOC products including specialty methacrylate monomers from end user industries, such as automotive, construction, and packaging & paper.
To provide efficient analysis, Meticulous Research® has segmented this market by derivatives (1, 4 butylene glycol dimethacrylate, benzyl methacrylate, methoxy-peg-methacrylate, polyethylene glycol 200 dimethacrylate, lauryl methacrylate, tridecyl methacrylate, methacrylic ester 13.0, triethylene glycol dimethacrylate, polyethylene glycol dimethacrylate, diethylene glycol dimethacrylate, iso-decyl methacrylate, ethylene glycol dimethylacrylate, 1,3 butylene glycol dimethacrylate, trimethylolpropane trimethacrylate, cyclohexyl methacrylate, 2-ethylhexyl methacrylate, stearyl methacrylate, tetrahydrofurfuryl methacrylate, and others), by application (paints & coating, adhesive & sealants, water proofing membrane, special plastics, electrical insulation, water treatment, construction, paper & packaging, health & personal care, oil & gas, additive, textile auxiliaries, electronics, and others), by end user (automotive & transportation, architecture & construction, chemical & plastics industry, packaging & paper, paint, coatings & adhesives, advertisement & communication, electronics, and others), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
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Key Topics Covered In Report::
1. Introduction
1.1. Market Ecosystem
1.2. Currency and Limitations
1.2.1. Currency
1.2.2. Limitations
1.3. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.1.1. Secondary Research
2.1.2. Primary Research
2.1.3. Market Size Estimation
3. Executive Summary
4. Market Insights
4.1. Introduction
4.2. Market Drivers
4.2.1. Growing End-User Industries
4.2.1.1. Growing Automotive Industry with Rising Demand for Lightweight & Low Carbon Emitting Vehicles
4.2.1.2. Growing Construction Industry
4.2.1.3. Growing Packaging and Paper Industry
4.2.2 Rising Demand and Focus on Improving Sustainable Low VOC Products
4.3. Restraint
4.3.1. Volatility in Raw Material Prices
4.4. Opportunities
4.4.1. Rising Focus on Bio-Based Methacrylate Monomers
4.4.2. Emerging Economies- Latin America, South East Asia, and Africa
4.5. Key Challenge
4.5.1. Shortages in the Supply Chain
4.6. Porter’s Five Forces Analysis
4.6.1. Bargaining Power of Suppliers
4.6.2. Bargaining Power of Buyers
4.6.3. Threat from Substitutes
4.6.4. Threat of New Entrants
4.6.5. Degree of Competition
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Geographically, Europe commanded the largest share of the global specialty methacrylate market in 2018, closely followed by the North America, and Asia Pacific regions. However, Asia Pacific region is slated to register highest growth at a CAGR of 7.7% during the forecast period, primarily due to the huge demand for specialty methacrylate in industrial manufacturing, global shift of manufacturing from developed regions such as North America and Europe to Asia-Pacific region. In addition, rising industrialization, infrastructural developments and increasing private and government investment in these sectors, and rising demand for various consumer goods from large population base are the other key factors propelling the growth of the Asia-Pacific specialty methacrylate market.
Based on application, paint and coatings commanded for the largest share of this market in 2018. This is majorly attributed to the growing demand for enhanced industrial paints and coatings with from automotive, electrical and electronics, and other commercial industries. In addition, growing demand for paints and architectural coatings from the building & construction industry is also supporting the growth of this market.
The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market including Evonik Industries AG (Germany), BASF SE (Germany), Mitsubishi Chemical Holdings Corporation (Japan), NIPPON SHOKUBAI CO., LTD. (Japan), Sartomer (Arkema Group) (France), Hitachi Chemical Co., Ltd. (Japan), MilliporeSigma (U.S.), Miwon Specialty Chemical Co., Ltd. (South Korea), Fushun Anxin Chemical Co. Ltd. (China), Bimax Chemicals Ltd. (U.S.), kyoeisha Chemical Co., Ltd. (Japan), Shin Nakamura Chemical Co., Ltd. (Japan), and GEO Specialty Chemicals, Inc. (U.S).
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