Meticulous Research®– a leading global market research company published a research report titled “Specialty Methacrylate Market By Derivative (Lauryl Methacrylate, 1,4 Butylene Glycol Dimethacrylate), Application (Paint & Coating, Special Plastic, Construction, Additives), and End User (Automotive, Plastic & Chemical) - Global Forecasts to 2028”.
According to this latest publication from Meticulous Research®, the global specialty methacrylate market is expected to reach $2.91 billion by 2028, at a CAGR of 4.1% during the forecast period of 2021 to 2028. The growth of this market is mainly attributed to the rising demand for lightweight vehicle parts & low carbon-emitting vehicles; increasing R&D into specialty methacrylates for various applications; increasing demand for specialty methacrylates in the construction, packaging, and paper industries; and growing focus on sustainable low-VOC products.
The market is segmented on the basis of derivative, application, end-use industry, and geography. The study also evaluates industry competitors and analyzes the market at the country level.
Based on derivative, the overall specialty methacrylate market is segmented into 1,4 Butylene Glycol Dimethacrylates, Benzyl Methacrylates, Methoxy Peg (350 to 5000) Methacrylates, Lauryl Methacrylates, Tridecyl Methacrylates, Methacrylic Ester 13.0, Triethyleneglycol Dimethacrylates, Polyethylene Glycol Dimethacrylates, Diethylene Glycol Dimethacrylates, Isodecil Methacrylates, Ethylene Glycol Dimethacrylates, 1,3 Butylene Glycol Dimethacrylates, Trimethylolpropane Trimethacrylates, Cyclohexyl Methacrylates, 2-Ethylhexyl Methacrylates, Stearyl Methacrylates, Tetrahydroforfuryl Methacrylates, Isobornyl Methacrylates, Neopentyl Glycol Dimethacrylates, BPA(Eo)N DI Methacrylates, 1,6-Hexandiol Dimethacrylates, 3,3,5 Trimethyl Cyclohexyl Methacrylates, Tetraethylene Glycol Dimethacrylates, and other derivatives. In 2021, the lauryl methacrylate segment is estimated to account for the largest share of the overall specialty methacrylates market. The large share of this segment is mainly attributed to its widening applications in floor waxes, textiles, coating, adhesives, & sealants and their rising demand from the growing construction, textile, automotive, paper & packaging, and consumer goods industries.
Based on application, the specialty methacrylate market is majorly segmented into paints & coating, adhesives & sealants, waterproofing membranes, special plastics, electrical insulation, water treatment, construction, paper & packaging, health & personal care, oil & gas, additive, textile auxiliaries, electronics, and other applications. in 2021, the paints & coatings segment is estimated to account for the largest share of the specialty methacrylates market. However, the paper & packaging application is expected to grow at a rapid pace over the forecast period, mainly due to rising health & hygiene awareness among consumers, new regulatory requirements on packaging recycling, and rising demand for packaging from growing food & beverages, pharmaceuticals, and chemicals sectors.
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Based on geography, the overall market is predominantly divided into five major regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific is expected to command the largest share of the overall specialty methacrylate market in 2021. However, the Latin America is expected to grow at the highest CAGR during the forecast period. The fast growth of the region is mainly due to the increasing investment in infrastructural developments and the growing automotive & electronics industry.
Key Players :
Some of the key players operating in the specialty methacrylate market are Evonik Industries AG (Germany), BASF SE (Germany), Mitsubishi Chemical Holdings Corporation (Japan), Nippon Shokubai Co. Ltd. (Japan), Arkema Group (France), Showa Denko Materials Co., Ltd. (Japan), Merck KGaA (Germany), Miwon Specialty Chemical Co., Ltd. (South Korea), Fushun Donglian Anxin Chemical Co., Ltd. (China), Kyoeisha Chemical Co., Ltd. (Japan), Shin Nakamura Chemical Co., Ltd. (Japan), and CPS Performance Materials Corp. (U.S.).
Key questions answered in the report-
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