Methacrylic ester Market is a kind of monomer which is used to produce a wide range of polymers. These polymer are used to enhance viscosity and low temperature characteristics and widely utilized as an oil additives in end use industry such as lubricant. These exhibit excellent durability, chemical resistance, and excellent flow properties and are extensively utilized in end use industries such as pulp & paper, lubricant, paint & coatings, textile, construction and others.
As per analysis, some of the prominent market factors and trends identified in the global methacrylic ester market includes the rising consumption of methacrylic ester as a sizing agent in paper & pulp industry coupled with the recycled paper market growth is anticipated to drive the market growth over the forecast period. Furthermore, increasing demand for methacrylic ester based adhesives in the construction sector is likely to positively influence the market growth. On the plus side, huge investment in infrastructure sector in developed and developing nations are expected to fuel market growth. Additionally, methacrylic ester is used as a textile finishing agent or binder in textile industry. Thus, fostering growth of textile industry across the globe is predicted to offer lucrative market growth opportunities for global methacrylic ester market. However, slight toxicity associated with it might hamper the usage of methacrylic ester in upcoming years.
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Key Players and Competition Analysis
Some of the prominent players operating in the methacrylic ester market are BASF SE (Germany), The Dow Chemical Company (U.S.), Evonik (Germany), U-PICA Company.Ltd. (Japan), Sigma-Aldrich Co. LLC. (U.S.), MITSUBISHI GAS CHEMICAL COMPANY, INC. (Japan), Fushun Anxin Chemical Co., Ltd. (China), NOF CORPORATION. (Japan), Michelman, Inc. (U.S), Lucite International (UK), and others.
The global methacrylic ester market is segmented on the basis of application, end use industries, and regions. Based on application, the market is segmented into sizing agent, adhesives, oil additives, binder, and others. On the basis of end use industries, the market is categorized into pulp & paper, lubricant, paint & coatings, textile, construction and others. On the basis of regions, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
The global methacrylic ester market is segmented into five regions viz. - Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, Asia Pacific is predicted to grow at the highest CAGR during the forecast period owing to increasing demand from end use industries such as pulp & paper and construction among others. The demand for methacrylic ester is predicted to surge in emerging economies such as India, China, and Bangladesh due to growing industrial as well as residential construction sector. Moreover, ease of availability of raw material, cheap labor cost, and improving development strategies to fulfil the demand for methacrylic ester in the growing applications are the important factors for the regional market growth.
Asia Pacific emerged as the largest market for methacrylic ester followed by North America and Europe. North America is expected to witness a significant growth in methacrylic ester market due to the recovery of industrial sector coupled with escalating investments to revitalize paints & coating industry. In Europe, countries such as France, Spain, Germany, and U.K have emerged as prominent consumer markets due to developed end use industries and increasing expenditure on R&D and innovation. While in North America, countries such as Mexico, U.S, Canada, and Guatemala are among the major contributors in the regional market growth and are expected to see a significant regional market growth in the near future. Latin American countries such as Argentina, Colombia, Peru and Brazil are also predicted to witness moderate growth with the association of new business models.
Browse the market data and information spread across 133 pages with 35 data tables and 11 figures of the report “Global Methacrylic Ester Market Research Report- Forecast till 2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/methacrylic-ester-market-4255
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