1 Global Methacrylic Esters Market Size (Value) and CAGR (2024-2033)
In 2024, the global Methacrylic Esters market was valued at USD 12,115.54 million, with a CAGR of 4.47% from 2024 to 2033.
Methyl methacrylate (MMA) is an organic compound with the formula CH2=C(CH3)COOCH3. This colorless liquid, the methyl ester of methacrylic acid (MAA), is a monomer produced on a large scale for the production of poly(methyl methacrylate) (PMMA).
Figure Global Methacrylic Esters Market Size (M USD) and CAGR 2024-2033
2 Methacrylic Esters Market Drivers
The global Methacrylic Esters market is experiencing significant growth, driven by several key factors. One of the primary drivers is the increasing demand from the automotive industry. Methacrylic Esters are widely used in automotive coatings and adhesives due to their excellent properties, such as high tensile strength, UV resistance, and scratch resistance. These attributes make them ideal for enhancing the durability and appearance of vehicles.
Another significant driver is the expanding electronics industry. Methacrylic Esters are used in the production of screens and displays for mobile phones, LCD screens, and other electronic devices. Their high transparency, flexibility, and scratch resistance make them suitable for these applications. The increasing demand for high-performance materials in the electronics sector is expected to further boost the market for Methacrylic Esters.
The construction industry also plays a crucial role in driving market growth. Methacrylic Esters are used as adhesives and coatings in various construction applications, providing durability and protection against environmental factors. The increasing investment in infrastructure development in both developed and developing countries is expected to drive the demand for Methacrylic Esters in this sector.
3 Methacrylic Esters Market Restraints
Despite the significant growth potential, the Methacrylic Esters market faces several challenges and restraints. One of the primary challenges is the toxicity associated with Methacrylic Esters. These compounds are slightly toxic and can cause irritation to the skin and eyes. Long-term exposure can have adverse effects on human health, which necessitates stringent safety measures during production and handling. This can increase operational costs and regulatory compliance requirements for manufacturers.
Another significant restraint is the impact of the COVID-19 pandemic. The outbreak has disrupted global supply chains and led to temporary shutdowns of manufacturing facilities. The automotive and electronics industries, which are major consumers of Methacrylic Esters, have been particularly affected. Reduced production levels and decreased demand during the pandemic have negatively impacted the market growth.
4 Global Methacrylic Esters Market Size by Type in 2024
Glycidil Methacrylate (GMA) is a key type of Methacrylic Esters, known for its epoxy functionalization capabilities. It is widely used in the creation of epoxy resins and for providing epoxy functionalization to polyolefins and other acrylate resins. In 2024, the market value of Glycidil Methacrylate is projected to be $179.97 million. This type is particularly important in industries such as automotive, electronics, and coatings, where high performance and durability are required.
Ethyl Methacrylate is another significant type, valued for its versatility in polymerization processes. It is commonly used in the production of acrylate polymers and is known for its colorless liquid form and ease of polymerization. In 2024, the market value of Ethyl Methacrylate is expected to reach $171.41 million. Its applications span across industries such as textiles, coatings, and adhesives, contributing to its substantial market share.
n-butyl Methacrylate is a clear, colorless liquid with a faint ester-like odor. It is used in the production of methacrylate polymers and is known for its low toxicity and environmental compatibility. The market value of n-butyl Methacrylate in 2024 is projected to be $154.44 million. Its applications include coatings, adhesives, and plastics, making it a crucial component in various industrial processes.
Table Global Methacrylic Esters Market Size by Type in 2024
Type | Market Size (M USD) 2024 |
Glycidil Methacrylate | 179.97 |
Ethyl Methacrylate | 171.41 |
n-butyl Methacrylate | 154.44 |
i-butyl Methacrylate | 76.33 |
2-ethylhexyl Methacrylate | 100.30 |
Others | 11433.08 |
5 Global Methacrylic Esters Market Size by Application in 2024
The Pulp & Paper industry is a significant consumer of Methacrylic Esters, utilizing these compounds for their adhesive and binding properties. In 2024, the market value for Methacrylic Esters in this application is projected to be $1,059.53 million. The growth in this segment is driven by the increasing demand for high-quality paper products and the need for sustainable and efficient production processes.
The Lubricant industry benefits from Methacrylic Esters due to their ability to reduce friction and enhance performance. In 2024, the market value for Methacrylic Esters in lubricants is expected to reach $1,733.57 million. This growth is attributed to the increasing demand for high-performance lubricants in automotive and industrial applications, where durability and efficiency are paramount.
Methacrylic Esters are widely used in the Paint & Coatings industry due to their excellent adhesion, UV resistance, and durability. In 2024, the market value for this application is projected to be $2,784.96 million. The growth in this segment is driven by the construction and automotive industries, which require high-quality coatings to protect and enhance the appearance of surfaces.
The Textile industry uses Methacrylic Esters for their adhesive and binding properties, enhancing the durability and performance of fabrics. In 2024, the market value for Methacrylic Esters in textiles is expected to be $1,057.69 million. The demand in this segment is driven by the need for high-quality, durable textiles in various applications, including apparel and home furnishings.
Table Global Methacrylic Esters Market Size by Application in 2024
Application | Market Size (M USD) 2024 |
Pulp & Paper | 1059.53 |
Lubricant | 1733.57 |
Paint & Coatings | 2784.96 |
Textile | 1057.69 |
Construction | 782.98 |
Automotive | 1849.69 |
Electronics | 1084.68 |
Health Care | 813.33 |
Others | 949.10 |
6 Global Methacrylic Esters Market Size by Region in 2024
North America is a significant market for Methacrylic Esters, driven by its advanced industrial base and technological capabilities. In 2024, the market value for Methacrylic Esters in North America is projected to be $2468.80 million. The growth in this region is driven by the automotive, electronics, and construction industries, which require high-performance materials.
Europe is another key market, with a projected market value of $2202.59 million in 2024. The growth in this region is driven by the automotive and construction industries, which benefit from the high-performance properties of Methacrylic Esters. Additionally, the region’s focus on sustainability and environmental regulations is driving the adoption of low-VOC formulations.
China is the largest market for Methacrylic Esters, with a projected market value of $2718.58 million in 2024. The growth in this region is driven by its rapidly developing economy and increasing investment in infrastructure and industrial projects. China’s strong manufacturing base and technological advancements are key factors contributing to its market size.
Figure Global Methacrylic Esters Market Size by Region in 2024
7 Major Players in Global Methacrylic Esters Market
7.1 Mitsubishi Chemical
Company Profile:
Mitsubishi Chemical Corporation (MCC) is the world’s largest manufacturer of methacrylic esters, with a long-standing history dating back to its establishment in 1933. The company operates manufacturing plants across Asia, North America, and the Middle East, and its sales network spans the globe. MCC is renowned for its commitment to continuous investment in both new and existing assets to improve the supply of methacrylic esters to customers.
Business Overview:
Mitsubishi Chemical’s business portfolio includes a wide range of chemical products, with methacrylic esters being a core product line. The company’s strategic focus on innovation and sustainability has enabled it to maintain a leading position in the market. MCC’s methacrylic esters are used in various applications, including automotive coatings, industrial coatings, adhesives, and latex, due to their excellent weatherability and chemical resistance.
Product Introduction:
Mitsubishi Chemical offers a variety of methacrylic esters, which are selected as raw materials for acrylic paints known for their excellent weather and chemical resistance. The company can also accept custom orders based on specific design requirements, such as hard or soft materials, hydrophilicity, hydrophobicity, and reactivity, providing products that are usable in many different applications.
Recent Financial Performance:
In the most recent year, Mitsubishi Chemical’s revenue from methacrylic esters was $2,389.29 million, with a gross margin of 35.04%.
7.2 Evonik
Company Profile:
Evonik Industries AG is a leading specialty chemicals company headquartered in Essen, Germany. Established in 2007, Evonik has quickly risen to prominence as one of the largest specialty chemicals companies in the world. The company operates manufacturing plants in North America, Europe, and Asia, with a global sales network.
Business Overview:
Evonik’s business is focused on providing high-performance materials and specialty chemicals that address the needs of various industries. The company’s methacrylic esters are used in a wide range of applications, including molding and extruded resins, mineral surface composites, and coatings. Evonik’s commitment to innovation and sustainability has enabled it to maintain a strong market position.
Product Introduction:
Evonik’s methacrylic esters, such as Methyl Methacrylate, offer significant advantages as co-monomers in a wide range of copolymer-based products. These products are used in various applications, including automotive and industrial coatings, adhesives, and latex, due to their excellent weatherability and chemical resistance.
Recent Financial Performance:
In the most recent year, Evonik’s revenue from methacrylic esters was $1,063.15 million, with a gross margin of 27.48%.
7.3 Dow
Company Profile:
Dow Inc. is a major American commodity chemical company, established in 2019 following the spin-off from DowDuPont. The company operates primarily in North America, with a global sales network. Dow is known for its commitment to innovation and sustainability, which has enabled it to maintain a strong market position.
Business Overview:
Dow’s business portfolio includes a wide range of chemical products, with methacrylic esters being a key product line. The company’s methacrylic esters are used in various applications, including automotive coatings, industrial coatings, adhesives, and latex, due to their excellent weatherability and chemical resistance. Dow’s commitment to innovation and sustainability has enabled it to maintain a strong market position.
Product Introduction:
Dow offers a variety of methacrylic esters, such as Glycidyl Methacrylate, which provides dual functionality of both methacrylic and epoxy groups. These products are used in various applications, including automotive and industrial coatings, adhesives, and latex, due to their excellent weatherability and chemical resistance.
Recent Financial Performance:
In the most recent year, Dow’s revenue from methacrylic esters was $945.06 million, with a gross margin of 25.39%.