Global Glycidyl Methacrylate Market was valued US$ 149.55Mn in 2019 and is expected to growaround US$ XXMnby 2027, at a CAGR of XX% during the forecast period.
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Global Glycidyl Methacrylate Market Definition:
Glycidyl methacrylate (GMA) is an ester of methacrylic acid and glycidol, it is a common monomer used in the creation of epoxy resins. While typical home epoxies contain diglycidyl ether of bisphenol A (DGEBA), glycidyl methacrylate is as a substitute used to provide epoxy functionalization to polyolefins and other acrylate resins.
Global Glycidyl Methacrylate Market Drivers:
Growing requirements for polymers from the consumer goods, electronics, and building & construction industries should stimulate glycidyl methacrylate market growth. Global polymer production was expected to exceed 350 million tons in 2017 which indicates abundant growth potential. This product is usually used with other monomers for producing polymers with high hardness, strength, water, solvent, and thermal resistance. The demand for bio-based plastics because of an increase in environmental awareness and booming medical devices sectors should further fuel the industry growth.
For instance, as per Plasticseurope.org, the global production of Plastic was 348 million tons in 2017 which is increased with 359 million tons in 2018. So, profitable growth in plastic industries is expected to drive the growth of the market over the forecast years.
Significant demand for adhesives & sealants to fulfill the growing packaging requirements of food & beverage and e-commerce industries is expected to accelerate the growth of the global market. These substances promote adhesiveness in hot melt adhesives and are ideal for leather-rubber & leather-leather bonding. The rising inclination for lightweight automobiles & aircraft to ensure regulatory compliance together with significant innovation in the development of green adhesives should promote glycidyl methacrylate market share. Also, Companies are engaging in innovation to improve safety performance and in production capacity growth to satisfy rising customer demand which is expected to boost glycidyl methacrylate market revenue.
The rising occurrence of stringent regulations on the use, sale, and labeling of the product is expected to hamper the market growth. Europe’s Classification, Labelling, and Packaging regulation classifies this product as a high-risk hazard, due to its ability to cause eye damage, skin burns, organ damage, cancer, and reduction in fertility. Code of Federal Regulations of the U.S. FDA allows the use of GMA based adhesives for food packaging provided they are separated from the food product by a barrier and do not exceed prescribed quantities.
Global Glycidyl Methacrylate Market Segmentation:
According to the purity, global glycidyl methacrylate <97% market size exceeded USD 40 million in 2018, because of the growing demand for high-performance polymer fibers from defense and aerospace industries. This substance improves the compressive & tensile strengths and elastic modulus of polymer fibers which makes it an ideal raw material. The growing demand for polypropylene fibers from the textile industry for carpet production is expected to drive the global market growth.
Global coating applications demand from <97% purity should register over 9.5% gains by 2027, thanks to growing residential construction and infrastructure development. This substance is usually used as a raw material for automotive topcoats, and waterborne coating resins, on accounts of several benefits, like excellent gloss, hardness, weather resistance, and adhesion. Booming transportation, industrial, aerospace, and marine industries should further accelerate the glycidyl methacrylate industry.
Based on end-user, the manufacturing units segment from <97% purity surpassed US$ 20 million in 2018, on account of significant economic growth, improvement in living standards, and technological advancement. The product finds extensive usage in the manufacture of industrial polymer coatings and latex, because of its high functionality, weather ability, and chemical resistance. Growing trade activities and increasing investment, thanks to the major availability of low credit should stimulate the global market.
Region-wise, North America, driven by Mexico, Canada, and the U.S. glycidyl methacrylate market demand should register over 8.9% gains by 2027, because of booming electrical & electronics and construction industries. It finds extensive usage in resins, casting, coating and impregnation composites catering to the electronics industry. Growing adoption of automation and increasing demand for consumer electronic products, such as smartphones & tablets should stimulate the glycidyl methacrylate market trends.
Europe driven by France, UK, and Germany market surpassed USD 22.5 million in 2018, on account of substantial economic growth and technological advancement. This product finds wide usage as a base material for automotive topcoats, thanks to its resistance to scratch and acid rain. The demand for alternatively powered automobiles, such as hybrid, plug-in hybrid, and full-electric cars together with autonomous vehicles is expected to further drive the glycidyl methacrylate industry.
Global Glycidyl Methacrylate Market Industry Development:
In Nov 2019, researchers at the Superfund Research Center at Texas A&M University announced that they got good results from their efforts of categorizing industrial chemical intermediates and solvents that included the updated monograph preamble using mechanistic data.
In Jan 2020, applications for patents have been filed to register glycidyl methacrylate as one of the possible monomers needed for the creation of polymeric protective layers on magnesium anodes. The patent application was filed by researchers from Toyota Motor Engineering Manufacturing North America, Inc.
The objective of the report is to present a comprehensive analysis of the Global Glycidyl Methacrylate Marketincluding all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Glycidyl Methacrylate Marketdynamics, structure by analyzing the market segments and project the Global Glycidyl Methacrylate Marketsize. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Glycidyl Methacrylate Marketmake the report investor’s guide.
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Global Glycidyl Methacrylate Market, By Purity
- Glycidyl methacrylate <97%
o By Application
Ion exchange resin
Fiber treatment agent
Others o By End-Use
Global Glycidyl Methacrylate Market, By Region
- North America
- Asia Pacific
- Middle East & Africa
- South America
Key players operating in the Global Glycidyl Methacrylate Market
- Dow Chemicals
- Kowa American Corporation
- Estron Chemical
- Zhonglan Industry
- Jindun Chemical
- Mitsubishi Gas Chemical Company
- Hubei Xiansheng Biotechnology
- Merck KGaA
- Haihang Industry Co. Ltd.
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