New York, NY, Dec. 19, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Methyl Methacrylate (MMA) Adhesives Market by Substrate (Metal, Plastic, Composite, and Others) and by End-Use (Automotive & Transportation, Building & Construction, Marine, Wind Energy, General Assembly, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024”. According to the report, the global methyl methacrylate (MMA) adhesives market was valued at USD 1.01 billion in 2017 and is expected to reach USD 1.68 billion by 2024, growing at a CAGR of 7.5% between 2018 and 2024.
Methyl methacrylate (MMA) adhesives are fundamental adhesives developed to bond metals, plastics, and composites. MMA adhesives are tough, flexible, and easy to use.
Browse through 92 Tables & 30 Figures spread over 110 Pages and in-depth TOC on “Global Methyl Methacrylate (MMA) Adhesives Market: Industry Type, Size, Share, Demand, Applications, Analysis and Forecast, 2017—2024”.
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The automotive and transportation is the fastest growing end-user of the methyl methacrylate (MMA) adhesives market. The increased use of methyl methacrylate (MMA) adhesives in automotives is expected to witness a significant rise over the forecast time period. However, the volatile raw material costs might hamper this market. Nevertheless, the growing popularity of eco-friendly, non-toxic, and sustainable adhesives are likely to create new growth opportunities for the major players operating in the methyl methacrylate (MMA) adhesives market on a global scale.
Based on the substrate, the global methyl methacrylate (MMA) adhesives market is divided into metal, plastic, composite, and others. In 2017, composites dominated the market and held a significant share. Composites are most preferable MMA due to their use in varied connecting composite items, such as bumpers, deflectors, composite tanks, roofs, car seats, blades, instrument panels, and interior body panel structures of cars, trucks, buses, tanks, and rails. Based on end-use, this global market is mainly segmented into automotive and transportation, building and construction, marine, wind energy, general assembly, and others. In 2017, the automotive and transportation industry dominated the MMA market. Methyl methacrylate (MMA) adhesives offer excellent performance along with reducing vehicle weight. These adhesives applications have revolutionized the building and design processes in the automotive industry. The rising product demand in automotive and transportation, building and construction, marine, and wind energy, particularly in the BRICS (Brazil, Russia, India, China, and South Africa) nations, is projected to drive the methyl methacrylate (MMA) adhesives market in the next few years. The marine sector uses methyl methacrylate (MMA) adhesives due to their excellent gap filling ability, reduced gel coat cracking, and superior performance for laminated joints.
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In 2017, Asia Pacific was the largest share for the methyl methacrylate (MMA) adhesives market. In terms of value, Asia Pacific is estimated to grow at the highest rate of growth in the future. This regional growth can be primarily attributed to the rising product demand in various end-use industries. In addition, this region’s trade and commerce activities are growing continuously. China and India are the region’s major markets for methyl methacrylate (MMA) adhesives. In European and North American markets, because of economic contraction and saturation, the demand for methyl methacrylate (MMA) adhesives is shifting toward Asia Pacific. With increased domestic demand and easy access to required resources, Asia Pacific is anticipated to emerge as one of the leading producers and consumers in the methyl methacrylate (MMA) adhesives (MMA) adhesives market.
North America was the second largest methyl methacrylate (MMA) adhesives market in 2017 globally. This was due to the growing industrial activities due to the increased use of methyl methacrylate (MMA) adhesives in automotive and transportation, marine, and wind energy sectors. The North American methyl methacrylate (MMA) adhesives market is likely to be driven by flourishing automotive and food packaging sectors and the rising industrial activities in the U.S. and Canada in the forecast time period.
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Europe is expected to witness sustainable growth in the methyl methacrylate (MMA) adhesives market in the future. Spending in construction and infrastructural sectors, especially in UK, Germany, and France, is expected to propel this market over the estimated time period. In Europe, the flourishing automotive sector and increasing consumer disposable income are projected to further fuel the methyl methacrylate (MMA) adhesives in the future.
The Latin American and the Middle Eastern and African markets are projected to witness massive growth over the forecast time period, owing to the huge investments made by the international players in methyl methacrylate (MMA) adhesives projects in both these regions. These activities are likely to help the methyl methacrylate (MMA) adhesives market gain traction in the future. Improving economic activities are further expected to boost the regions’ methyl methacrylate (MMA) adhesives market in the upcoming years.
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The major vendors of the global methyl methacrylate (MMA) adhesives market include The 3M Company, Arkema, Illinois Tool Works Inc., Lord Corporation, Scott Bader, SCIGRIP, Henkel AG & Company, Lord Corporation, Parsons Adhesives, Inc., Permabond LLC, and Huntsman Corporation, among others.
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This report segments the global methyl methacrylate (MMA) adhesives market into:
Global Methyl Methacrylate (MMA) Adhesives Market: Substrate Analysis
- Metal
- Plastic
- Composite
- Others
Global Methyl Methacrylate (MMA) Adhesives Market: End-Use Analysis
- Automotive and Transportation
- Building and Construction
- Marine
- Wind Energy
- General Assembly
- Others
Global Methyl Methacrylate (MMA) Adhesives Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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