Glycidyl Methacrylate Market Size By Type, By Application, Regional Analysis(Europe, Asia Pacific, America, Middle East And Africa), And Forecasts 2021-2027
Glycidyl
Methacrylate Market - Overview
The global glycidyl
methacrylate market is growing with the impulsive pace; mainly due to
growing polymer and adhesives industries. According to a recent study report
published by the Market Research Future, the global market of glycidyl
methacrylate is booming and expected to gain prominence over the forecast
period. The market is forecasted to demonstrate a stunning growth by 2023,
surpassing its previous growth records in terms of value with a striking CAGR
during the estimated period (2017 – 2023).
Globally, the market for glycidyl methacrylate is
driven by the region Asia pacific, owing to the growth in the population
resulting in to increasing demand for plastic modifiers in paints &
coatings, automotive and construction industries among others. Glycidyl
methacrylate is used in various applications such as adhesives, electrical
laminates, waterborne coatings resins, and others due to their superior
performance and enhanced mechanical properties. Moreover, glycidyl methacrylate
improves the structural properties of the final product.
Rapid urbanization coupled with technology signifies
the growth of automotive, paper, paints & coatings and construction
industries. Moreover growing industries such as consumer goods, and packaging
provide impetus to the glycidyl methacrylate market growth.
On the other hand, the increasing consumption of
glycidyl methacrylate in major end-use industries is projected to drive the
market growth during the forecast period.
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Glycidyl Methacrylate Market - Competitive Analysis
The glycidyl methacrylate market appears to be
competitive with the presence of several large and small players operating in
manufacturing and development of product. These key players compete with each
other’s on the basis of quality, price, production and innovation. Glycidyl
methacrylate market is set to grow at a higher CAGR rate which is likely to
attract many entrants to the market resulting into strong competition in the
future. Manufacturers functioning in the glycidyl methacrylate market are
struggling to respond to the growing demand for the product from automotive,
construction, packaging, electrical & electronics and paints & coatings
attributed to the recent plant expansion, and growing popularity in major
sectors. They ensure to deliver the best quality products based on innovative
technologies, and best practices.
Glycidyl methacrylate is used in numerous
applications such as waterborne coating resins, industrial & protective
finishes to improve the chemical and physical properties of the product. The
plastic sector has observed a higher growth in the market due to extensive use
of the product in industrial coatings, adhesives, latex, and others.
Additionally, the growing investments and rise in the disposable income have
resulted into a notable growth in the market in the last couple of years.
Key Players:
The Dow Chemical Company (U.S.), MITSUBISHI GAS
CHEMICAL COMPANY, INC (Japan), Estron Chemical Inc (U.S.), Sumitomo Chemical
Co., Ltd (Germany), Lianyungang Ningkang Chemical Co., Ltd (China), Wuhan
Sincere-star Chemical Co., Ltd (China), Evonik Industries AG (Germany), DuPont
(U.S.), VWR International, LLC (U.S.), and Kanto Chemical Co, Inc. (Japan) are
some of the prominent players profiled in MRFR Analysis and are at the
forefront of competition in the Global Glycidyl Methacrylate Market.
Glycidyl Methacrylate Market - Regional Analysis
Geographically, Asia-Pacific region holds the
majority of global glycidyl methacrylate market. China is the leading country
in the market owing to rapid urbanization coupled with technology and growing
investments in heavy end-use industries. Increasing demand for glycidyl
methacrylate in automotive, construction, paints & coatings, and packaging
has boosted the market demand in China, India, Malaysia and Thailand. North
America has witnessed significant growth owing to growing consumption of high purity
products and this has led to a surge in the demand for industrial coatings in
the industries. The market in the European region has received a significant
growth due to increasing demand for the product in automotive, electrical &
electronics, and other sectors. Additionally, due to increasing demand for
glycidyl methacrylate from the plastic and other industries, the market is
projected to grow at a higher CAGR in Europe over the forecast period.
Industry/ Innovation/ Related News:
December 11, 2015 – The Dow Chemical Company (U.S.), one of the key manufacturers of
glycidyl methacrylate, announced that the company has decided to complete the
debottleneck project at Freeport, Texas, in order to increase the production
capacity of glycidyl methacrylate. One of the sources of the company, said that
a rise in the production rate is set to drive the market on a large scale
during the forecast period. Due to this expansion process, it is estimated that
the demand for glycidyl methacrylate in developed and emerging economies is set
to grow at a higher rate due to its excellent chemical resistance and weather
ability. Therefore, owing to these extraordinary features, these coatings are
widely utilized in automotive, paints & coatings, and construction
industries to impart high- standard performance to the product.
April 25, 2016 – MITSUBISHI GAS CHEMICAL COMPANY, INC (Japan), one of the
prominent manufacturers of glycidyl methacrylate in the world, announced that
the company is set to increase the production capacity at Niigata plant,
Niigata city, Japan. Glycidyl methacrylate is used as a raw material to produce
industrial and automotive coatings. Moreover, it is also used in the production
of modifiers, adhesives, engineering plastics, and others. Moreover, one of the
sources of the company said that their product is widely used one in end-use
applications due to its better properties than the other products. Therefore,
the recent developments and innovations about the product in the leading
company are set to drive the market over the assessment period.
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