Wilmington, Delaware, United States, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. -The global glycidyl methacrylate market was valued at US$ 169.7 million in 2022. The market is expected to increase at a CAGR of 5.5% from 2023 to 2031, reaching US$ 274.8 million in the year 2031. Automotive, aerospace, and other industries use GMA to make composite materials. A global trend favoring light, high-performance materials is likely to increase demand for GMA in composites.
Polymers and resins often use glycidyl methacrylate as a reactive diluent. Various industries use polymers and resins, such as electronics, adhesives, and coatings, all of which contribute to GMA market growth. An adhesive or sealant formulation containing GMA provides improved adhesion properties. Adhesive demand is often impacted by growth in the construction and automotive industries, which affects GMA sales.
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Global Glycidyl Methacrylate Market: Key Players
Glycidyl methacrylate market players are exploring opportunities to expand into global markets through technological innovations, finance restructuring, investment, capital expansion, and mergers and acquisitions.
- Dow
- Mitsubishi Gas Chemical Company, Inc.
- Estron Chemical, Inc.
- Haihang Industry Co. Ltd.
- Jindun Chemical Co. Ltd.
- Nanjing Rong’an Chemical Technology Co. Ltd.
- Weicheng New Material (Shandong) Co. Ltd.
- Shandong GP Natural Products Co. Ltd.
- Oswal Udhyog
- SimSon Pharma Limited
- Blue Bear Chemicals B.V.
The demand for glycidyl methacrylate can also be impacted by health and safety regulations. Workplaces where glycidyl methacrylate is used, may need to comply with specific safety regulations limiting exposure levels. The availability and cost of glycidyl methacrylate in different markets can be affected by trade policies, such as tariffs and import/export regulations. In the event that trade policies change, glycidyl methacrylate suppliers may suffer a loss of competitiveness, and demand may shift accordingly.
Key Findings of the Market Report
- Globally, 97.0% purity is expected to remain the dominant segment in the coming years.
- Between 2023 and 2031, regular grade is expected to account for the largest share.
- As the adhesive market continues to expand, the demand for glycidyl methacrylate is expected to continue to grow.
- From 2023 to 2031, Asia Pacific is expected to account for a significant market share.
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Global Glycidyl Methacrylate Market: Growth Drivers
- Polymers and resins are widely produced using GMA, which is especially beneficial for applications such as adhesion, coating, and composite materials. GMA plays a vital role in the manufacturing of encapsulants and sealants in the electronics industry. GMA's demand is expected to increase as the electronics industry continues to expand.
- The construction and automotive industries heavily rely upon adhesives and sealants produced by GMA. GMA's popularity in adhesives and sealants will likely increase as these industries grow. Researchers are continuously exploring new applications and improving the properties of GMA to facilitate market growth. The potential uses of GMA in various industries may be expanded with innovations in formulations and processes.
- Market trends promoting environmentally friendly products can drive the demand for sustainable materials like glycidyl methacrylate. Manufacturers may be forced to use GMA-based solutions due to stricter environmental regulations.
- The demand for glycidyl methacrylate can be affected by environmental regulations restricting its application or encouraging the use of more environmentally friendly alternatives. In addition to emissions restrictions, waste disposal restrictions, or chemicals used in manufacturing processes, there may also be regulations on chemical use.
- Glycidyl methacrylate demand can also be affected by government incentives and subsidies. Financial support for adopting environmentally friendly materials or incentives for research and development can influence demand. Glycidyl methacrylate may be subject to regulations and standards imposed by specific industries, including those in paints and coatings and the automotive industry. As a result of each regulation being different, it can relate to a product's quality, safety, or functionality in the market.
Global Glycidyl Methacrylate Market: Regional Landscape
- The Asia Pacific region is expected to drive demand for glycidyl methacrylate in the coming years. China and India have demonstrated significant growth in several industries in the Asia-Pacific region. The manufacturing and construction industries in these countries have been experiencing rapid growth, increasing the demand for chemicals such as GMA.
- Construction industries and construction projects are growing, which will increase the demand for these chemicals. The demand for glycidyl methacrylate is expected to increase as consumer goods and electronic industries demand more plastics and coatings.
Key Developments
- Dow Chemical Company: Dow Chemical is a major chemical corporation that produces several chemicals, such as glycidyl methacrylate, which is used to make plastics.
- Mitsubishi Chemical Corporation: Mitsubishi Chemical is a global chemical company that is engaged in the production of a variety of chemicals, and it this company is likely the manufacture of GMA as well.
- Evonik Industries: An international specialty chemical company, Evonik produces glycidyl methacrylate and other unique monomers.
Global Glycidyl Methacrylate Market: Segmentation
By Grade
- Regular Grade
- High Purity Grade
By Purity
- 97.0%
- 98.5%
- 99.0%
By Application
- Coating & Finishing
- Adhesives
- Varnishes & Paints
- Plastic Modifiers
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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