Global Methyl Methacrylate Adhesives Market 2019-2023 | 7% CAGR Projection Over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--Nov 11, 2019--
The methyl methacrylate adhesives market size is expected to post a CAGR of over 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global methyle methacrylate adhesives market 2019-2023. (Graphic: Business Wire)
The superior performance and characteristics of methyl methacrylate adhesives is a major factor behind the methyl methacrylate adhesives market growth. The preference for methyl methacrylate (MMA) adhesives has increased significantly across several end-user industries including marine, transportation, and construction. This is mainly due to attributes such as high bond strength, better impact resistance, and ease of use. The polymers of methyl methacrylate adhesives exhibit high crosslinking at room temperature which enhances their chemical resistance and strength.
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As per Technavio, the increasing preference for renewable energy will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Methyl Methacrylate Adhesives Market: Increasing Preference for Renewable Energy
The preference for renewable energy over fossil fuels to reduce greenhouse gas emissions is driving the growth of the wind energy market. Methyl methacrylate adhesives are used for bonding composite material for nacelle assemblies, turbine rotor blades, towers, gearboxes, and other parts. Thus, the increasing preference for renewable wind energy is fueling the growth of the methyl methacrylate adhesives market.
“Other factors such as the increasing in R&D activities and stringent automobile fuel emission standards will have a significant impact on the growth of the methyl methacrylate adhesives market value during the forecast period,” says a senior analyst at Technavio.
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Methyl Methacrylate Adhesives Market: Segmentation Analysis
This market research report segments the methyl methacrylate adhesives market by end-user (automotive and transportation, construction, marine, and others), geography (APAC, Europe, North America, South America, Middle East, and Africa).
The APAC region held the largest share of the market in 2019, followed by Europe, North America, MEA, and South America respectively. The growth of the methyl methacrylate adhesives market share in APAC can be attributed to several factors such as the increase in automotive manufacturing plants; growth of end-user industries, such as automobile, construction, and marine industries; and government support and initiatives to construct residential buildings.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING
SOURCE: Technavio Research
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PUB: 11/11/2019 01:00 PM/DISC: 11/11/2019 01:00 PM