Methyl Methacrylate Adhesives Global Market Report 2024

The methyl methacrylate adhesives market has grown strongly in recent years. It will grow from $1.56 billion in 2023 to $1.68 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth observed in the historical period can be attributed to increased industrial applications, growth in automotive production, demand for lightweight materials, repair and maintenance activities, and the versatility of these adhesives in bonding various substrates.

The methyl methacrylate adhesives market is expected to see strong growth in the next few years. It will grow to $2.31 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The anticipated growth in the forecast period can be attributed to a focus on sustainable adhesives, innovation in aerospace applications, rapid prototyping and assembly, increasing investments in infrastructure, and the expansion of renewable energy projects. Major trends expected in this forecast period include digitalization and smart manufacturing, customization and tailored solutions, strategic partnerships and acquisitions, advancements in formula and technology, and increased installations in the wind energy sector.

The robust building and construction industry are poised to drive the future growth of the methyl methacrylate adhesives market. This industry encompasses activities related to the construction of residential, farm, industrial, commercial, or other structures. Methyl methacrylate adhesives find essential applications in construction equipment and trucks, including side and roof panels, door panels, and aerodynamic parts. Their substantial use in the construction sector is evident, with the United States Census Bureau reporting a seasonally adjusted yearly increase of 13.8% in privately owned housing units, reaching 1,524,000 in February 2023. Hence, the thriving building and construction industry is a significant driver of the methyl methacrylate adhesives market.

The rising demand for electric vehicles is anticipated to contribute to the growth of the methyl methacrylate adhesives market. Electric vehicles (EVs) rely on electric motors rather than traditional internal combustion engines. Methyl methacrylate (MMA) adhesives play a vital role in the production of electric vehicles, providing durability against high stresses and vibrations, ensuring structural integrity, and contributing to overall weight reduction. As highlighted in the Global EV Outlook 2023 report by the International Energy Agency, the number of electric vehicles on the road surged by 60%, reaching 26 million in 2022, with electric cars constituting 14% of total car sales. Thus, the increasing demand for electric vehicles is a driving force behind the growth of the methyl methacrylate adhesives market.

A notable trend in the methyl methacrylate adhesives market is the emergence of innovative non-flammable adhesive solutions. Companies within the market are introducing groundbreaking non-flammable adhesive solutions to enhance their market standing. For instance, in December 2021, Huntsman Corporation introduced the ARALDITE 2080 adhesive - an industry-first solution offering exceptional bond performance while addressing challenges associated with traditional adhesives, such as high odor, flammability, high toxicity, and the need for extensive surface preparation. This primer-free structural acrylate adhesive excels in bond performance without compromising safety or productivity, making it ideal for confined working environments, thereby reducing costs related to safety training, storage, and equipment.

Major players in the methyl methacrylate adhesives market are strategically engaging in collaborations and partnerships to provide reliable services to their customers. A prime example is the partnership expansion between Biesterfeld Spezialchemie GmbH and SCIGRIP Adhesives in July 2021. This collaboration is expected to leverage Biesterfeld's extensive network and market expertise in Italy, providing SCIGRIP Adhesives with enhanced access to potential customers and facilitating broader market penetration.

In September 2021, Trinseo, a materials solutions provider based in the United States, acquired Aristech Surfaces LLC. This strategic move allows Trinseo to broaden its product offerings and expand its customer base, particularly in specialty applications within the transportation, building, and construction markets. Aristech Surfaces LLC, with over 70 years of experience, specializes in polymethyl methacrylate (PMMA) production, offering continuous cast, solid surface, and architectural resin sheets across various markets.

Major companies operating in the methyl methacrylate adhesives market report are 3M Company, H.B. Fuller Company, Huntsman Corporation, Sika AG, Henkel AG & Company KGaA, Arkema SA, Scott Bader Company Ltd., Permabond LLC, Parson Adhesives Inc., Lord Corporation, SCIGRIP Smarter Adhesive Solutions, ITW Polymer Adhesives, Kisling AG, Chemique Adhesives Inc., Master Bond Inc., AEC Polymers, Cyberbond LLC, Matrix Composite Materials Company Ltd., Ulbrich Group, L&L Products, Panacol-Elosol GmbH, Adhere Industrial Tapes Ltd., Adhesives Research Inc., Dymax Corporation, Hernon Manufacturing Inc., Pidilite Industries, Royal Adhesives & Sealants, Toagosei Co. Ltd., Wisdom Adhesives Worldwide, Bostik.

Asia-pacific was the largest region in the methyl methacrylate adhesives market in 2023. North America is expected to be the fastest-growing region in the global methyl methacrylate adhesives market during the forecast period. The regions covered in the methyl methacrylate adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the methyl methacrylate adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of methyl methacrylate adhesives include water-based, solvent-based, and other variations. Water-based adhesives consist of a mixture of water, polymers, and additives, offering a durable bond comparable to or even better than solvent-based options. Water-based methyl methacrylate adhesives are structural adhesives composed of a water-based resin system and a catalyst. They can be used on various substrates such as metal, plastics, composites, and others, making them suitable for applications in automotive and transportation, building and construction, marine, wind energy, general assembly, and more.

The methyl methacrylate adhesives market research report provides methyl methacrylate adhesives market statistics, including methyl methacrylate adhesives industry global market size, regional shares, competitors with an methyl methacrylate adhesives market share, detailed methyl methacrylate adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the methyl methacrylate adhesives industry. This methyl methacrylate adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The methyl methacrylate adhesives market consists of sales of adhesives that bond with substrate materials including magnets, glass, and wood. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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