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Global MMA Adhesive Market to Reach USD 1.30 Billion by 2020: M&M

Published on 2016-02-24. Author : SpecialChem

The report "Methyl Methacrylate Adhesive Market by Material Type (Composites, Metals, Plastics, and Others), by Application (Commercial Vehicle, Marine, Wind Energy, General Assembly, and Others), by Region - Global Forecast to 2020", report analyzes the global MMA adhesives market with respect to the market drivers, restraints, opportunities, and challenges in different regions.

Fig. 1: MarketsandMarkets

The global MMA adhesive market size projected to reach USD 1.30 Billion by 2020, registering a CAGR of 5.73% between 2015 and 2020. The major driver identified for the global methyl methacrylate adhesive market is the growing demand from commercial vehicle, marine, and wind energy industries. Increasing use of advanced materials, compliance with environmental regulations, reduction of manufacturing cost, and increasing speed of production process led several end users to adopt MMA adhesives for bonding.

Increasing demand for bonding dissimilar materials in applications, such as commercial vehicle and marine, is driving the demand for MMA adhesives

Commercial vehicle and marine are some of the major applications of MMA adhesives. MMA adhesives enable bonding of thinner substrates with low read-through lines without any distortion on the outer surface of the component. These adhesives are extensively used by the marine and transportation industries, owing to the need for improving aesthetics along with maintaining design, costs, and speed of production.

Composites bonding is the largest material type for MMA adhesives

MMA adhesives are used to bond various material types such as composites, metals, plastics, and others. In 2015, the composites material segment accounted for the largest market share, in terms of value. Manufacturers are gradually shifting from traditional mechanical fasteners to methyl methacrylate adhesive to reduce the weight of the vehicles and increase productivity. The current industry trend highlights the use of composite thermoplastics instead of heavy metals. Increasing use of lightweight materials such as composites, plastics, and aluminum develops a need for adhesive that can bond dissimilar materials, in-turn increasing the demand for MMA adhesives.

North America is the largest market for methyl methacrylate adhesive both in terms of volume and value, followed by Western Europe and Asia-Pacific. The U.S. is among the leading consumers of methyl methacrylate adhesive globally, due to the increase in demand for MMA products in the country’s market. MMA adhesives offer the benefit of high impact resistance and the ability to minimize the need for surface preparation. This increases the productivity and reduces the assembly costs, thus increasing the demand of MMA adhesives for bonding. The markets in other emerging economies, such as India and China, are also expected to witness rapid growth.

Key Market Players in the Methyl Methacrylate Adhesive Market

The key players in this market are Illinois Tool Works Inc. (U.S.), Arkema (France), SCIGRIP (U.K.), Scott Bader (U.K.), Lord Corporation (U.S.), Cyberbond L.L.C. (U.S.), Henkel AG & Company (Germany), Permabond L.L.C. (U.S.), Parsons Adhesive Inc. (U.S.), Huntsman Corporation (U.S.), and 3M Company (U.S.) among others.

About MarketsandMarkets

MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. MarketsandMarkets specializes in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications.M&M's 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in its reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

Source: MarketsandMarkets

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