PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1625187
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1625187
According to Stratistics MRC, the Global Glycidyl Methacrylate Market is accounted for $235.97 million in 2024 and is expected to reach $404.54 million by 2030 growing at a CAGR of 9.4% during the forecast period. A common chemical ingredient in the creation of polymers, resins, and coatings is glycidyl methacrylate (GMA). Methacrylic acid and epichlorohydrin are combined to create it, and a glycidyl group is added to increase its reactivity. In polymerization processes, GMA is mostly utilized as a monomer to enhance the adhesion qualities of products including plastics, adhesives, and coatings. It is used in sectors including electronics, construction, and the automotive industry because to its capacity to bond with a variety of substrates.
Increasing demand for adhesives and coatings
GMA is essential for strengthening adhesives' bonding qualities as well as coatings' performance and longevity. It is used in a variety of sectors, including electronics, aircraft, construction, and automotive, where strong adhesives and protective coatings are crucial. This need is further fueled by the growth of automotive manufacturing, construction, and the requirement for corrosion-resistant coatings, particularly in the aerospace industry. The GMA market is anticipated to expand gradually as long as businesses continue to place a high value on efficiency and durability.
Fluctuating raw material prices
Global demand fluctuations, supply chain interruptions, and geopolitical conflicts are some of the causes that generate price volatility for the primary raw materials used in the production of GMA, such as epichlorohydrin and methacrylic acid. For GMA manufacturers, these price swings may result in higher production costs, which would affect market prices and profit margins generally. Additionally, uncertain raw material prices can make it more difficult to foresee and plan for the long term market, especially in sectors that depend on GMA for high-performance coatings and adhesives.
Rising demand for polymers
High-performance polymers, which are crucial in sectors including construction, electronics, and the automobile industry, are produced using GMA on a large scale. The need for GMA-based polymers is raising as these industries use materials that are stronger, lighter, and less prone to corrosion. The need for GMA is further supported by its capacity to enhance the mechanical characteristics, adhesion, and chemical resistance of plastics and composites. Furthermore, the use of GMA in polymer applications is further driven by the transition to sustainable materials and sophisticated production techniques like 3D printing and composite materials.
Health and environmental hazards
Glycidyl Methacrylate's (GMA) potential health and environmental risks could restrict the market's expansion. GMA contains chemical groups that can be dangerous if inhaled, consumed, or absorbed via the skin, such as methacrylate and epoxide. Long-term exposure might cause hypersensitivity, skin irritation, or breathing problems. Additionally, GMA can damage the environment, especially aquatic habitats, if it is improperly disposed of or accidentally released. Stricter laws controlling its manufacture and usage in a variety of applications have resulted from these health and environmental hazards.
Covid-19 Impact
The COVID-19 pandemic had a major effect on the market for glycidyl methacrylate (GMA), upsetting demand across a range of businesses as well as supply networks and manufacturing procedures. Production was momentarily stopped during lockdowns, which resulted in delays and less GMA available. Additionally, less adhesive and coating was used as a result of the slump in industries like aerospace, construction, and automobiles. But as businesses start up again, the market is slowly rebounding, and a spike in demand is anticipated as industries concentrate on post-pandemic innovation and resilience.
The coatings segment is expected to be the largest during the forecast period
The coatings segment is estimated to be the largest. GMA's unique properties, such as its ability to enhance adhesion, chemical resistance, and durability, make it an ideal ingredient for various coatings formulations. Its use in industrial coatings, automotive paints, and protective finishes is growing, driven by the increasing demand for high-performance, long-lasting coatings that can withstand harsh environmental conditions. Additionally, the rising focus on sustainable and eco-friendly coatings is further propelling the demand for GMA, as it can be used to formulate low-VOC and water-based coatings.
The automotive segment is expected to have the highest CAGR during the forecast period
The automotive segment is anticipated to witness the highest CAGR during the forecast period, because GMA improves the performance of adhesives and coatings used in vehicle manufacture. GMA increases durability, chemical resistance, and bonding strength-all crucial for automotive components subjected to extreme environments. GMA's global presence is further enhanced by the rising demand for electric vehicles, which call for sophisticated bonding materials.
Asia Pacific is expected to have the largest market share during the forecast period due to quick industrial expansion, especially in the electronics, construction, and automobile sectors. The demand for GMA is also fueled by the region's growing emphasis on sustainable material innovation and the expanding automotive industry, particularly in nations like China and India. The requirement for durable materials in coatings and adhesives is further increased by government programs supporting infrastructure development and the growth of e-commerce.
During the forecast period, the North America region is anticipated to register the highest CAGR, owing to the robust need for high-performance materials in sectors including electronics, construction, and automobiles. Adoption of GMA in coatings, adhesives, and composites is pushed by the region's emphasis on innovation, advanced manufacturing, and sustainability. Furthermore, GMA's market presence in North America is further strengthened by the growing trend toward electric vehicles (EVs) and the demand for strong, lightweight materials.
Key players in the market
Some of the key players profiled in the Glycidyl Methacrylate Market include Dow Chemicals, Kowa American Corporation, Estron Chemical, Zhonglan Industry, Jindun Chemical, Mitsubishi Gas Chemical Company, Hubei Xiansheng Biotechnology, Oswal Udhyog, Merck KGaA, Haihang Industry Co. Ltd., BASF, Evonik Industries AG, 3M, SABIC, Solvay, Huntsman Corporation, LG Chem, LyondellBasell Industries, Wacker Chemie AG, and Sumitomo Chemical.
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