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.
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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.
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.
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.
Target Audience
- Manufactures of end-use industry
- Raw material Suppliers
- Aftermarket suppliers
- Research Institute / Education Institute
- Potential Investors
- Key executive (CEO and COO) and strategy
growth manager
Key Finding
- The global glycidyl methacrylate market
and is expected to reach $15,654.7 million by 2027
- Plastics accounted for the largest
market share registering CAGR of 5.91% during the forecast period
- Regionally, Asia-Pacific holds the
largest market share 49% of global glycidyl methacrylate market and is
expected to reach $7,503.0 million by 2027 from $3,858.8 million in 2015.
- On the basis of end-users, manufacturing
units segment holds 61% market share
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