Methacrylic Ester Market- Global Industry Analysis, Size, Industry Growth & Forecast To 2023

By Author: Nikhil khadilkar
Total Articles: 97

Methacrylic ester is a kind of monomer which is used to produce a wide range of polymers. These polymers are used to enhance viscosity and low temperature characteristics and widely utilized as an oil additive in end use industry such as lubricant. These exhibit excellent durability, chemical resistance, and excellent flow properties and are extensively utilized in end use industries such as pulp & paper, lubricant, paint & coatings, textile, construction and others.

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Rapid industrialization coupled with increasing disposable income in emerging economies are predicted to drive market growth in the upcoming years. Furthermore, increasing investment in the institutional as well as industrial construction sector is anticipated to give new impetus to the methacrylic ester demand over the forecast period.

However, methacrylic ester is relatively slightly toxic which might hinder the market growth in the next few years. Additionally, growth in the digitalization and ease in availability of online material might restrict the use of paper and stationary materials which in turn hamper market growth in near future.

Competitive analysis

The major players operating in the methacrylic ester market include BASF SE (Germany), The Dow Chemical Company (U.S.), Evonik (Germany), U-PICA Company.Ltd. (Japan), Sigma-Aldrich Co. LLC. (U.S.), MITSUBISHI GAS CHEMICAL COMPANY, INC. (Japan), Fushun Anxin Chemical Co., Ltd. (China), NOF CORPORATION. (Japan), Michelman, Inc. (U.S), Lucite International (UK), and others.

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Market Segmentation

The global methacrylic ester market is segmented based on application, end use industries, and regions.

Based on application, the market is segmented into sizing agent, adhesives, oil additives, binder, and others.

Based on end use industries, the market is categorized into pulp & paper, lubricant, paint & coatings, textile, construction and others.

Based on regions, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Regional Analysis

Asia Pacific is anticipated to be the largest market for methacrylic ester market followed by North America and Europe on account of increasing demand from lubricant, paint & coatings, and construction.

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Developing countries such as India, China, and Malaysia are the fastest growing market for methacrylic ester and is expected to grow with the same pace in the upcoming years. Ease in the availability of raw material, improved standards of living, and competitive production costs are also the important factors further fuel the methacrylic ester market growth in the Asia Pacific region.