Booming Automotive & Transportation Industry to Propel Methyl Methacrylate Adhesives Market through 2024
Increasing demand for lightweight and low carbon-emitting vehicles to boost global methyl methacrylate adhesives market through 2024
According to a report released at TechSci Research, “Global Methyl Methacrylate Adhesives Market By Derivative, By Substrate, By Region, Competition, Forecast & Opportunities, 2024” global methyl methacrylate adhesives market is projected to reach $ 13.5 billion by 2024. Methyl methacrylate adhesives (MMAs) are reactive acrylic adhesives generally comprising resin and initiator (or a resin and hardener). They rapidly cure at room temperature. Once cure is complete, the material forms a strong thermoplastic with exceptional resistance to peel, shear and impact stresses. Global methyl methacrylate adhesives market is broadly segmented into derivative, substrate and region. On the basis of substrate, the market is segmented as metal, plastic and composites, of which, composites are one of the most extensively used substrates of MMA adhesives due to the requirement for maintaining the cost, design and production speed for the marine and transportation industries as well as refining aesthetics. MMA adhesives are known for niche applications of composite bonding, since they can bond materials with different surface energies along with sheet moulding compound (SMC), which earlier had concerns owing to incompatibility with some mold releases. These adhesives are used to bond composite to metal substrates as well as composite to composite structures.
Browse 59 market data 95 Figures spread through 150 Pages and an in-depth TOC on " Global Methyl Methacrylate Adhesives Market"
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Based on derivatives, the market is categorized into poly (methyl methacrylate), surface coatings & adhesives, PVC modifiers, emulsion polymers and other methacrylic acids. MMA is mainly used as a raw material for Poly (methyl methacrylate). Poly (methyl methacrylate) is the dominating segment as it is in huge demand in various end-use industries like automotive, construction, and electronics industries. PMMA sheets are clear, weather-resistant and are light in weight and are mostly used as an alternative to glass in the automotive and construction industries
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“Among regions, Asia-Pacific has the largest market share in global methyl methacrylate adhesives. High demand from wind energy, marine industry and automotive & transportation is fuelling demand for methyl methacrylate adhesives in the region. Moreover, the region has emerged as a leading vehicle producer, as various automotive manufacturers are shifting their base to emerging markets led by economic slowdown and saturation in regions like North America and Europe.” stated Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Methyl Methacrylate Adhesives Market By Derivative, By Substrate, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global methyl methacrylate adhesives market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the global methyl methacrylate adhesives market.
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