Methacrylic Acid Market Size, Share, Trends, Growth and Forecast 2030

Methacrylic Acid Industry Prospective:

The global methacrylic acid market size was evaluated at $12 billion in 2022 and is slated to hit $19 billion by the end of 2030 with a CAGR of nearly 8.3% between 2023 and 2030.

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Methacrylic Acid Market: Overview

Methacrylic acid is a transparent and organic compound. Moreover, the compound has favorable features such as carboxylic corrosiveness and water emulsifiability. Furthermore, it can be blended with organic catalysts and can quickly diffuse in warm water. In addition to this, it can be extensively used for manufacturing artificial resins. Moreover, methacrylic acid can be developed through mesa conic acid and citra conic acid decarboxylation.

Key Insights

• As per the analysis shared by our research analyst, the global methacrylic acid market is projected to expand annually at the annual growth rate of around 8.3% over the forecast timespan (2023-2030)
• In terms of revenue, the global methacrylic acid market size was evaluated at nearly $12 billion in 2022 and is expected to reach $19 billion by 2030.
• The global methacrylic acid market is anticipated to grow rapidly over the forecast timeline owing to escalating demand for products in the automotive, construction, and electronics sectors.
• In terms of type, the liquid segment is slated to register the highest CAGR over the analysis period.
• Based on application, the electronics segment is slated to register rapid growth in the upcoming years.
• Region-wise, the North American methacrylic acid industry is projected to register the fastest CAGR during the assessment timeline.

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Methacrylic Acid Market: Growth Factors

Humungous product penetration in various end-use sectors to boost the global market trends by 2030

Escalating demand for products in the automotive, construction, and electronics sectors will steer the expansion of the global methacrylic acid market. In addition to this, the compound finds a slew of applications as an adhesive in fixing window panels, facades, light panels, paints & coatings, and TV display panels. Apart from this, the product helps in making the automotive lightweight and energy efficient, thereby enhancing product penetration in the automotive and transportation sectors. All these aforementioned aspects will steer the expansion of the market across the globe. A massive surge in construction activities in the emerging economies of APAC and Latin America will embellish the global market trends.

Methacrylic Acid Market: Restraints

Surge in the costs of product can obstruct the global industry expansion over forecast period

An increase in the storage span of the product can restrain the expansion of the methacrylic acid industry globally. Massive prices related sale of methacrylic acid can further degrade the expansion of the global industry. The product can irritate and burn skin and can damage the vision of an individual who is in contact with the chemical compound and this feature of the product can impede its demand.

Methacrylic Acid Market: Opportunities

Rise in the investment pertaining to research activities associated with the product to open new growth opportunities to the global market

Surging industrialization and a rise in the fund allocation for research activities pertaining to the production of methacrylic acid will open new horizons of growth for the methacrylic acid market across the globe. Products under new brand names are likely to scale up the growth for the global market. For instance, in December 2019, Rohm GmbH is predicted to sale methacrylate monomers under a new brand referred to as MERACRYL.

Methacrylic Acid Market: Challenges

Strict legislation related to controlling use of product due to its toxic nature can interrupt the global industry surge by 2030

Strict laws regulating the use of the product owing to its toxicity and volatile organic compound emissions can prove to be detrimental to the expansion of the global methacrylic acid market. The corrosive nature of the product can be a huge challenge for global industry expansion.

Methacrylic Acid Market: Segmentation

The global methacrylic acid market is sectored into type, application, and region.                  

In type terms, the global methacrylic acid market is segregated into liquid and glacial segments. Furthermore, the liquid segment, which acquired nearly 50% of the global market revenue in 2022, is set to register the highest growth rate in the ensuing years. The growth of the segment during the assessment timeframe can be a result of a rise in the use of methacrylic acid in the liquid form in various end-use sectors.

Based on the application, the global methacrylic acid industry is sectored into paints, special additives, electronics, rubber, and adhesives segments. Moreover, the electronics segment, which accumulated a major global industry share in 2022, is predicted to lead the global industry over the estimated timeline. The segmental surge over the projected timeframe can be a result of huge product usage in the various electronics goods.

Methacrylic Acid Market: Report Scope

Methacrylic Acid Market: Regional Insights

Europe is predicted to maintain its dominant position in the global methacrylic acid market over the analysis timeline

Europe, which accounted for about 53.1% of the global methacrylic acid market revenue in 2022, will be a dominating continent over the prognosis timeframe. In addition to this, the regional market surge can be ascribed to the rise in the acceptance of lightweight vehicle components in the giant automotive firms based in Italy, France, and Germany. An increase in the production of consumer electronics goods in European countries will drive the regional market trends.

North American methacrylic acid industry is set to register the fastest CAGR in the ensuing years owing to strict laws implemented by EPA pertaining to vehicular emissions. Moreover, growing consumer awareness about the benefits offered by the product such as fuel efficiency and lightweight in vehicles will drive the regional market surge.

Methacrylic Acid Market: Competitive Space

The global methacrylic acid market profiles key players such as:

• KH Chemicals
• MITSUBISHI GAS CHEMICAL COMPANY INC.
• AECOCHEM
• Evonik Industries AG
• Dow
• KURARAY CO. LTD.
• TCI Chemicals (India) Pvt. Ltd.
• TWI Ltd.
• DHALOP CHEMICALS
• Parchem fine & specialty chemicals
• BASF SE
• Formosa M Co. Ltd.
• Central Drug House
• Biesterfeld AG
• LG Chem
• Kowa India Pvt. Ltd
• Polymers Enterprises
• Shree Chemicals
• Petrochemicals Europe
• DIOCHEM

The global methacrylic acid market is segmented as follows:

By Type

• Liquid
• Glacial

By Application

• Paints
• Special Additives
• Electronics
• Rubber
• Adhesives

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa