Zion Market Research has published a new report titled “Methyl Methacrylate (MMA) Adhesives Market by Substrate (Metal, Plastic, Composite, and Others) and by End-Use (Automotive & Transportation, Building & Construction, Marine, Wind Energy, General Assembly, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024”. According to the report, the global methyl methacrylate (MMA) adhesives market was valued at USD 1.01 billion in 2017 and is expected to reach USD 1.68 billion by 2024, growing at a CAGR of 7.5% between 2018 and 2024.
Methyl methacrylate (MMA) adhesives are fundamental adhesives developed to bond metals, plastics, and composites. MMA adhesives are tough, flexible, and easy to use.
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The automotive and transportation is the fastest growing end-user of the methyl methacrylate (MMA) adhesives market. The increased use of methyl methacrylate (MMA) adhesives in automotives is expected to witness a significant rise over the forecast time period. However, the volatile raw material costs might hamper this market. Nevertheless, the growing popularity of eco-friendly, non-toxic, and sustainable adhesives are likely to create new growth opportunities for the major players operating in the methyl methacrylate (MMA) adhesives market on a global scale.
Based on the substrate, the global methyl methacrylate (MMA) adhesives market is divided into metal, plastic, composite, and others. In 2017, composites dominated the market and held a significant share. Composites are most preferable MMA due to their use in varied connecting composite items, such as bumpers, deflectors, composite tanks, roofs, car seats, blades, instrument panels, and interior body panel structures of cars, trucks, buses, tanks, and rails. Based on end-use, this global market is mainly segmented into automotive and transportation, building and construction, marine, wind energy, general assembly, and others. In 2017, the automotive and transportation industry dominated the MMA market. Methyl methacrylate (MMA) adhesives offer excellent performance along with reducing vehicle weight. These adhesives applications have revolutionized the building and design processes in the automotive industry. The rising product demand in automotive and transportation, building and construction, marine, and wind energy, particularly in the BRICS (Brazil, Russia, India, China, and South Africa) nations, is projected to drive the methyl methacrylate (MMA) adhesives market in the next few years. The marine sector uses methyl methacrylate (MMA) adhesives due to their excellent gap filling ability, reduced gel coat cracking, and superior performance for laminated joints.
Asia Pacific was the leading market for methyl methacrylate (MMA) adhesives and it held for a significant share of the overall market in 2017. China and India are considered to be the rapidly growing markets for methyl methacrylate (MMA) adhesives in the near future. Moreover, North America stood as the second largest market for methyl methacrylate (MMA) adhesives followed by Europe in 2017. In Europe, methyl methacrylate (MMA) adhesives market demand has increased due to thriving construction and automotive sectors.
The major vendors of the global methyl methacrylate (MMA) adhesives market include The 3M Company, Arkema, Illinois Tool Works Inc., Lord Corporation, Scott Bader, SCIGRIP, Henkel AG & Company, Lord Corporation, Parsons Adhesives, Inc., Permabond LLC, and Huntsman Corporation, among others.
This report segments the global methyl methacrylate (MMA) adhesives market into:
Global Methyl Methacrylate (MMA) Adhesives Market: Substrate Analysis
Global Methyl Methacrylate (MMA) Adhesives Market: End-Use Analysis
Global Methyl Methacrylate (MMA) Adhesives Market: Regional Analysis
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