Global Methacrylic Acid Market, By Application (Paint and Adhesives, Fiber Processing Agent, Rubber Modifier, Leather Treatment, Paper Processing Agent, Lubricant Additive, Cement Mixing Agent and Others), End- User (Paints and Coatings, Textile, Leather, Paper Manufacture, Construction, Automobiles, Electronics and Others), Type (Liquid Products and Glacial Products), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Methacrylic Acid Market
Data Bridge Market Research analyses that the methacrylic acid market will witness a CAGR of 4.60% for the forecast period of 2021-2028. Rising demand and application of methacrylic acid by the various end user verticals such as paints and coatings, textile, leather, paper manufacture, construction, automobiles, electronics and others, rising urbanization or construction activities especially in the developing economies and growth and expansion of the end user verticals are the major factors attributable to the growth of the methacrylic acid market.
Methacrylic acid is an organic colourless compound that has a strong pungent and unpleasant smell. Methacrylic acid mixes well with most of the organic solvents and easily dissolves in warm water. Widely used for the manufacture of synthetic resins, these organic compounds are usually produced by the decarboxylation of citra conic acid, mesa conic acid and others. It can also be prepared using acetone cyanohydrin along with the use of methacrylamide sulphate and sulphuric acid. Methacrylic acid acts as a precursor to a wide range of industrial chemicals.
Increasing demand and application of methacrylic acid by the automotive and electronics industries is the root cause fuelling up the methacrylic acid market growth rate. Rising infrastructural development and growth in the construction activities especially in the developing economies will further create lucrative growth opportunities for the methacrylic acid market. Rising industrialization and increased investment for research and development of glacial methacrylic acid will further induce growth in the demand for methacrylic acid. Increased demand for bio-based methacrylic acid will also bolster the methacrylic acid market growth rate.
However, less storage span of methacrylic acid will further restrict the scope of growth for the methacrylic acid market. High costs associated with the purchase of methacrylic acid will further derail the market growth rate. Also, highly corrosive nature of methacrylic acid will act as a methacrylic acid market growth restraint.
This methacrylic acid market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on methacrylic acid market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Methacrylic Acid Market Scope and Market Size
The methacrylic acid market is segmented on the basis of application, end- user and type. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of application, the methacrylic acid market is segmented into paint and adhesives, fibre processing agent, rubber modifier, leather treatment, paper processing agent, lubricant additive, cement mixing agent and others.
- On the basis of end- user, the methacrylic acid market is segmented into paints and coatings, textile, leather, paper manufacture, construction, automobiles, electronics and others.
- On the basis of type, the methacrylic acid market is segmented into liquid products and glacial products.
Global Methacrylic Acid Market Country Level Analysis
Global methacrylic acid market is analysed and market size, volume information is provided by country, application, end- user and type as referenced above.
The countries covered in the methacrylic acid market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe dominates the methacrylic acid market and will continue to flourish its trend of dominance during the forecast period as well owing to the increased adoption of lightweight automotive parts and materials and increased application glacial methacrylic acid in this region. However, Asia-Pacific will register the highest CAGR for the forecast period. Growth and expansion of buildings and construction industry owing to rising infrastructural development and urbanization will propel growth in the demand for methacrylic acid.
The country section of the methacrylic acid market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Methacrylic Acid Market Share Analysis
The methacrylic acid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to global methacrylic acid market.
The major players covered in the global methacrylic acid market report are Dow, BASF SE, Evonik Industries AG, Formosa M Co., Ltd., KURARAY CO., LTD., LG Chem, TCI Chemicals (India) Pvt. Ltd., MITSUBISHI GAS CHEMICAL COMPANY, INC., DHALOP CHEMICALS, Parchem fine & specialty chemicals, Polymers Enterprises, AECOCHEM, Central Drug House, Shree Chemicals, Petrochemicals Europe, KH Chemicals, Kowa India Pvt.Ltd, Biesterfeld AG, TWI Ltd. and DIOCHEM among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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