Global Glycidyl Methacrylate Market Projected to Reach USD 332.25 Million by 2030
The Global Glycidyl Methacrylate (GMA) Market Share is poised for substantial growth, driven by increasing demand across various industries, including consumer goods, electronics, and building & construction. This press release provides an in-depth analysis of the market, including its definition, growth drivers, segmentation, country-level insights focusing on the USA and Germany, competitive landscape, and a concluding overview.
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Market Estimation & Definition
Glycidyl methacrylate is an ester of methacrylic acid and glycidol, commonly used as a monomer in the creation of epoxy resins. It is utilized to provide epoxy functionalization to polyolefins and other acrylate resins, enhancing their properties such as hardness, strength, and resistance to water, solvents, and thermal conditions. The global GMA market was valued at USD 332.25 million in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 9.2% from 2024 to 2030.
Market Growth Drivers & Opportunities
Several factors are propelling the growth of the GMA market:
Increasing Demand for Polymers: The growing requirements for polymers in consumer goods, electronics, and building & construction industries are expected to stimulate GMA market growth. Global polymer production was anticipated to exceed 350 million tons in 2021, indicating significant growth potential.
Advancements in Adhesives & Sealants: The significant demand for adhesives and sealants to meet the growing packaging requirements of the food & beverage and e-commerce industries is expected to accelerate market growth. GMA-based adhesives are ideal for applications requiring high-performance bonding.
Environmental Awareness: The rising inclination towards bio-based plastics due to increased environmental awareness is expected to drive the demand for GMA, as it is used in the production of eco-friendly polymers.
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Segmentation Analysis
The GMA market can be segmented based on purity, application, and region:
By Purity:
- <97% Purity: Used in applications where high purity is not critical.
- ≥97% Purity: Preferred for high-performance applications requiring superior quality.
By Application:
- Adhesives & Sealants: Utilized in various bonding applications across industries.
- Polymers: Incorporated into polymer formulations to enhance properties.
- Others: Including coatings, paints, and other specialty applications.
By Region:
- North America: United States, Canada, and Mexico.
- Europe: United Kingdom, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe.
- Asia Pacific: China, India, Japan, South Korea, Australia, ASEAN, and Rest of APAC.
- Middle East and Africa: South Africa, GCC, Egypt, Nigeria, and Rest of MEA.
- South America: Brazil, Argentina, and Rest of South America.
Country-Level Analysis: USA and Germany
USA: The United States holds a significant share of the GMA market, driven by its robust consumer goods, electronics, and construction industries. The market is projected to grow at a CAGR of 9.2% through the forecast period, reflecting a strong shift towards sustainable and efficient manufacturing processes.
Germany: Germany's market is expanding, supported by its advanced manufacturing capabilities and emphasis on high-quality standards. The demand for GMA is anticipated to grow, driven by both regulatory measures and consumer demand for environmentally friendly products.
Competitive Analysis
The GMA market is characterized by the presence of several key players focusing on innovation and service development to gain a competitive edge. Notable companies include:
- Mitsubishi Chemical Corporation: A leading chemical company offering a range of acrylate monomers, including GMA.
- Evonik Industries AG: Specializes in high-performance materials, including GMA for various applications.
- The Dow Chemical Company: Provides a diverse portfolio of chemical products, including GMA monomers.
- Sumitomo Chemical Co., Ltd.: Offers a variety of chemical solutions, including GMA for polymer applications.
- LG Chem Ltd.: Supplies chemical products, including GMA, for industrial applications.
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