DUBLIN--(BUSINESS WIRE )--The "Specialty Methacrylate Market By Derivative (Lauryl Methacrylate, 1,4 Butylene Glycol Dimethacrylate), Application (Paint & Coating, Special Plastic, Construction, Additives), and End User (Automotive, Plastic & Chemical)- Global Forecasts to 2028" report has been added to ResearchAndMarkets.com's offering.
The research report provides an in-depth analysis of the specialty methacrylate market in five major geographies and emphasizes the current market trends, market size, market share, recent developments, and forecast till 2028. The Global Specialty Methacrylate market is expected to reach $2.91 billion by 2028 with a 4.1% CAGR during the forecast period of 2021 to 2028.
The growth of the specialty methacrylate market is mainly attributed to the rising demand for lightweight vehicle parts & low carbon-emitting vehicles, increasing R&D into specialty methacrylates for various applications, increasing demand for specialty methacrylates in the construction, packaging, and paper industries; and growing focus on sustainable low-VOC products.
However, volatile raw material prices are expected to restrain the growth of this market to some extent. In addition, the rising focus on bio-based methacrylate monomers and untapped markets in emerging economies are expected to hold significant opportunities for various stakeholders in this market. Also, supply chain shortages are expected to pose major challenges for the market's growth
The study comprehensively analyzes the global specialty methacrylate market concerning various derivatives, applications, and end-users.
Based on derivative, the lauryl methacrylates segment is estimated to account for the largest share of the overall specialty methacrylate market in 2021. The large share of this segment is mainly attributed to its widening applications in floor waxes, textiles, coating, adhesives, & sealants and its rising demand from the growing construction, textile, automotive, paper & packaging, and consumer goods industries.
Based on application, the paints & coatings segment is estimated to account for the largest share of the specialty methacrylates market in 2021. The large share of this segment is mainly due to its growing demand for enhanced industrial paints and coatings with growing manufacturing industries such as automotive, electrical & electronics, and other commercial industries. In addition, the growing demand for architectural coatings from the building & construction industry is also supporting the growth of this market.
Based on end-user, the paint, coatings, and adhesives segment are estimated to account for the largest share of the specialty methacrylates market in 2021. The growth of this segment is mainly due to the higher penetration of paint, coatings, and adhesives in the construction, industrial manufacturing, and paper & packaging industry.
Geographically, Asia-Pacific region is expected to account for the largest share of the specialty methacrylates market in 2021. The large share of this region is mainly attributed to the rapid growth in industrialization & infrastructural development, rising private & government investment in these sectors, and significantly growing automotive & construction sectors. However, the Latin America region is expected to grow at the highest CAGR of during the forecast period. The fast growth of the region is mainly due to the increasing investment in infrastructural developments and the growing automotive & electronics industry.
The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past three years (2018-2021).
Business Overview, Financial Overview, Product Portfolio, and Strategic Developments
Business Overview, Financial Overview, Product Portfolio, and Strategic Developments
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900