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The methyl methacrylate adhesives market share is expected to increase by USD 604.17 mn from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.68%.
This methyl methacrylate adhesives market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers methyl methacrylate adhesives market segmentation by end-user (automotive and transportation, construction, marine, and others) and geography (APAC, Europe, North America, the Middle East and Africa, and South America). The methyl methacrylate adhesives market report also offers information on several market vendors, including 3M Co., Arkema S.A., Chemique Adhesives, DELO Industrie Klebstoffe GmbH, and Co. KGaA, EMME ESSE M.S. Srl, Engineered Bonding Solutions LLC, H.B. Fuller Co., Henkel AG, and Co.KGaA, Hernon Manufacturing, Huntsman International LLC, IPS Corp., ITW Performance Polymers, Kisling AG, L and L Products Inc., NOVA Chemicals Corp., Parker Hannifin Corp., Parson Adhesives Inc., Permabond LLC, Scott Bader Co. Ltd., and Sika AG among others.
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The increasing demand from developing countries is notably driving the methyl methacrylate adhesives market growth, although factors such as stringent regulations and policies may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the methyl methacrylate adhesives industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Methyl Methacrylate Adhesives Market Driver
The increasing demand from developing countries is one of the major drivers impacting the methyl methacrylate adhesives market growth. Developing countries such as China, India, Indonesia, Brazil, and Mexico are the major contributors to the global methyl methacrylate market. Many vendors of methyl methacrylate adhesives are shifting their manufacturing activities to these developing countries. Factors such as the availability of raw materials, inexpensive labor, availability of land, low transportation costs, and less stringent government regulations are conducive to the growth of the market. The emergence of China and India as the manufacturing hubs of the construction, automobile, and other general industries in APAC is a significant factor as well. The governments of countries in APAC are investing heavily in the housing industry because of urbanization and improved standard of living. The increase in residential construction in the APAC region is expected to have a positive impact on the methyl methacrylate adhesives market.
Key Methyl Methacrylate Adhesives Market Trend
An increase in R&D activities is one of the major trends influencing the methyl methacrylate adhesives market growth. Technological innovations and improvisations in methyl methacrylate adhesives in the US, Germany, the UK, and Canada are expected to drive the market during the forecast period. 3D vision systems are primarily used for inspecting adhesive applications that cannot be examined by 2D vision systems. The footprint of adhesives can be measured by 2D machines or through manual intervention. 2D vision systems do not accurately determine the volume of the glue or its features. In October 2018, Sika introduced two new structural methyl methacrylate adhesives, namely, Sikafast-306 and Sikafast-308, for industrial assembly and transportation applications. These adhesives are based on the toughened- methyl methacrylate technology and ensure excellent adhesion to various substrates. The ongoing product development and technology refinement in methyl methacrylate adhesives will positively impact the overall market during the forecast period.
Key Methyl Methacrylate Adhesives Market Challenge
Stringent regulations and policies is one of the major challenges impeding the methyl methacrylate adhesives market growth. Stringent regulations by the EPA and REACH on the VOC content of adhesives can pose serious challenges to the methyl methacrylate adhesives market. Vendors of methyl methacrylate adhesives are liable to comply with the standards. In August 2013, the MassDEP in the US declared regulations on adhesives and sealants. Regulation 310 CMR 7.18(30) prescribes the VOC limit for industrial and commercial adhesives and adhesive primers. Europe has implemented EU- No 10/2011, a regulation on the content of plastic materials and articles such as adhesives in indirect food additives. Stringent regulations and policies on the use of adhesives are likely to hamper the growth of the market under focus during the forecast period.
This methyl methacrylate adhesives market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global methyl methacrylate adhesives market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the methyl methacrylate adhesives market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the methyl methacrylate adhesives market encompasses successful business strategies deployed by the key vendors. The methyl methacrylate adhesives market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The methyl methacrylate adhesives market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the methyl methacrylate adhesives market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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55% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea are the key markets for the methyl methacrylate adhesives market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increase in the number of automotive manufacturing plants will facilitate the methyl methacrylate adhesives market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
With the resumption of normal industrial and manufacturing activities due to vaccination drives for COVID-19, the market has been coping with the loss that happened during COVID-19 in 2020, leading to an increased demand for methyl methacrylate adhesives from end-use industries, which, in turn, has led to increased manufacturing and supply activities of methyl methacrylate adhesives across various countries in the region
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The methyl methacrylate adhesives market share growth in the automotive and transportation segment will be significant during the forecast period. The widespread use of methyl methacrylate adhesives in recreational and agricultural vehicles is expected to have a significant impact on the growth of the market under focus. Methyl methacrylate adhesives bond metal with plastics. They improve strength and toughness and require minimum surface area. These factors will positively impact the growth of the automotive and transportation segment during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the methyl methacrylate adhesives market size and actionable market insights on the post-COVID-19 impact on each segment.
Methyl Methacrylate Adhesives Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.68% |
Market growth 2022-2026 |
$ 604.17 million |
Market structure |
Fragmented |
YoY growth (%) |
7.2 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 55% |
Key consumer countries |
US, China, Japan, South Korea, Germany, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
3M Co., Arkema S.A., Chemique Adhesives, DELO Industrie Klebstoffe GmbH and Co. KGaA, EMME ESSE M.S. Srl, Engineered Bonding Solutions LLC, H.B. Fuller Co., Henkel AG and Co.KGaA, Hernon Manufacturing, Huntsman International LLC, IPS Corp., ITW Performance Polymers, Kisling AG, L and L Products Inc., NOVA Chemicals Corp., Parker Hannifin Corp., Parson Adhesives Inc., Permabond LLC, Scott Bader Co. Ltd., and Sika AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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