Methyl Methacrylate Adhesives Market- What Factors Will Drive The Market In Upcoming Years?
Methyl Methacrylate adhesives (MMA) are the acrylic-based adhesive that is used in many industries, including automotive, aerospace, and medicine. MMA adhesives have a few advantages, including high strength, excellent adhesion to a variety of substrates, and chemical and temperature resistance. They cure quickly as well, making them ideal for high-speed assembly operations. MMA adhesives are used to bond plastic, metal, rubber, and glass components, among other things. They are extremely versatile and can be used to bond a wide variety of materials. The Methyl Methacrylate adhesives (MMA) market is expected to grow at a 7.5% CAGR to USD 1.56 billion by 2023.
Demand for MMA adhesives is expected to rise steadily in the coming years as more industries recognize their numerous benefits. Automotive and aerospace manufacturers, for example, are increasingly utilizing MMA adhesives for component bonding in their vehicles and aircraft. Furthermore, MMA adhesives are increasingly being used in the medical sector to bond implants, prosthetics, and other medical devices. The demand for MMA adhesives is expected to rise as the demand for these products rises.
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Methyl Methacrylate Adhesives Market- Key Driving Factors
- High strength: Methyl methacrylate adhesives are known to offer high-strength bonds with a wide range of substrates, including metals, plastics, and ceramics.
- Wide temperature range: Methyl methacrylate adhesives are capable of bonding materials even in extreme temperature conditions. This makes them suitable for a wide range of industrial and commercial applications.
- Durability: Methyl methacrylate adhesives are known to form strong and durable bonds that are highly resistant to moisture, chemicals, and other environmental factors.
- Improved shelf life: Methyl methacrylate adhesives have a long shelf life, due to their excellent shelf stability. This makes them ideal for applications that require frequent storage and handling.
- Easy application: Methyl methacrylate adhesives can be applied in a variety of ways, including brushing, spraying, and dipping. As a result, they are suitable for a wide range of applications.
- Cost-effectiveness: Methyl methacrylate adhesives are typically less expensive than other types of adhesives, making them an economical choice for a wide range of applications.
On the basis of the end-use industry, automotive & transportation is estimated to lead the MMA market
The automotive and transportation industries are expected to be the primary users of methyl methacrylate adhesives. This is due to the growing demand in the automotive and transportation industries for lightweight and high-strength materials. Methyl methacrylate adhesives are ideal for the automotive and transportation industries due to their superior performance characteristics such as high tensile strength and excellent adhesion. Furthermore, rising demand for energy-efficient vehicles, as well as rising demand for higher safety standards, are propelling the methyl methacrylate adhesives market forward. Construction, electronics, packaging, and other end-use industries are expected to contribute to the market's growth.
On the basis of substrate, the composite segment is projected to register the highest CAGR during the forecast period
Methyl methacrylate adhesives are widely used in a variety of applications and can effectively bond difficult substrates such as plastics, metals, glass, and composites. Because of the increasing demand for lightweight and strong materials in the automotive, marine, and aerospace industries, the composite segment is expected to grow the most in the methyl methacrylate adhesives market. They are used to bond composite materials for greater strength, flexibility, and durability. Increasing demand for high-performance adhesives from end-use industries is expected to drive demand for methyl methacrylate adhesives in the composite segment during the forecast period.
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On the basis of region, APAC is estimated to lead the MMA adhesives market
APAC is expected to dominate the methyl methacrylate adhesives market during the forecast period, owing to rising demand in countries such as China, Japan, and India. In APAC, China is the largest consumer of methyl methacrylate adhesives. The presence of numerous automotive and electronics manufacturers in the region drives the regional market as well. Furthermore, the region's market is being driven by the growing construction industry in China, India, and Japan. Because of their superior properties such as high bonding strength, good water and heat resistance, and excellent adhesion, methyl methacrylate adhesives are in high demand. Furthermore, the increasing demand for lightweight materials in the automotive industry is propelling the APAC market.
Key players in the MMA adhesives market:
The key players in the market include Illinois Tool Works Inc. (US), Arkema (France), SCIGRIP (UK), Scott Bader (UK), Lord Corporation (US), Henkel (Germany), Permabond LLC (US), Parsons Adhesive Inc. (US), Huntsman Corporation (US), and 3M (US).
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