According to the latest study by Future Market Insights, the global basic methacrylate copolymer market is relishing a market valuation of USD 6.14 billion in 2022 and is all set to expand with a CAGR of 11.7% during the 2022 to 2032 period. The market is anticipated to top a valuation of USD 18.38 billion by the end of the forecast period.
| Attributes | Details |
|---|---|
| Market Size 2022 | USD 6.14 billion |
| Market Size 2032 | USD 18.38 billion |
| Value CAGR (2022 to 2032) | 11.7% |
| Collective Value Share: Top 3 Countries (2022E) | 45% - 55% |
Basic methacrylate copolymers are also referred to as basic methacrylic acid copolymers. Methacrylate copolymers are a kind of organic compound with versatile application areas. The basic methacrylate copolymer contains basic methacrylic acid as a key monomer. Mainly Basic methacrylate copolymer is widely used as a pharmaceutical excipient to improve the taste of solid oral drug formulations.
In addition to pharmaceutical applications, the methacrylate copolymer is used as a coating agent for solid food products. Basic methacrylate copolymer is increasingly being used in solid food coatings as it provides better moisture protection and preserves the taste.
In the cosmetic and personal care industries, the basic methacrylate copolymer is used as a thickener to improve the performance of hair and skin care formulations. Some of the widely used methacrylate copolymers are butylated methacrylate copolymer and ethylene methyl methacrylate copolymers.
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Over the period of time covered by the study (2017 to 2021), basic methacrylate copolymer is witnessed great interest from researchers and professionals of various disciplines for various high-value applications. The market for basic methacrylate copolymers was recorded to grow at a phenomenal CAGR of 10.4% between 2017 and 2021, mostly due to the rising demand for methacrylate copolymers in the personal care and pharmaceutical industries.
Whereas, as per the latest study conducted by FMI, the Methacrylate Copolymer market is expected to progress at a CAGR of 11.7% between 2022 and 2032. The increasing use of methacrylate copolymer as a thickener in cosmetic products to enhance skin care formulation is a key factor driving the growth of the methacrylate copolymer market. Increasing use of butylated methacrylate copolymer in various applications, such as film coating, enteric coating, taste masking of bitter drugs, binder for powders, moisture barrier coating, and the transdermal therapeutic system is a key factor driving the market.
Increasing demand for basic methacrylate copolymer in pharmaceutical formulations, typically in the pharmaceutical industry, is driving the global methacrylate copolymer market. Additionally, rising demand for infant solid nutritional supplements is expected to drive demand for methacrylate copolymer during the forecast period. The high cost of production and shortage of raw materials is estimated to limit the market during the forecast period.
However, the expansion of production capacity for basic methacrylate copolymers is expected to boost methacrylate copolymer sales during the forecast period. For example, in 2018, Evonik Industries announced plans to build an additional line for the production of its ACRYLITE-branded PMMA at its Osceola, Arkansas, USA site. The new production line was likely to go live in the first quarter of 2019 in order to double the company's production capacity for methacrylate copolymers.
The emollient characteristic of personal care and cosmetic products makes them advantageous for agents that improve skin conditions as methacrylate copolymer is present. Methacrylate copolymers are also used in cosmetics owing to their qualities such as good moisture protection and taste attenuation.
In the pharmaceutical and food industries, they are often used as coating excipients for mechanical stabilization, moisture protection, and taste or odor masking. This is a factor expected to proliferate the global methacrylate copolymers market in the coming years. Additionally, methacrylate copolymers are used as fillers and extenders in the manufacture of solid oral medicinal products to improve flavor.
The butylated methacrylate copolymer segment is expected to dominate the global Methacrylate Copolymers market in 2022 and is expected to continue this dominance during the forecast period. The increasing demand for butylated methacrylate copolymers in various applications, such as enteric coating, film coating, bitter drug taste masking, moisture barrier coating, powder binder, and transdermal therapeutic system, is proliferating the global methacrylate copolymers market.
In 2022, the personal care industry dominated the market and generated the majority of global revenue. Growth in demand for FDA-approved drugs and formulations in personal care products is expected to boost the global methacrylate copolymer market during the forecast period. From 2022 to 2032, the demand for methacrylate copolymers in the personal care industry is estimated to witness a significant growth rate, owing to the increasing use of methacrylate copolymers in the personal care and cosmetic market throughout the forecast period.
North America leads the methacrylate copolymer market holding the majority of shares in global revenue in 2022, as a result of the region's attention toward the agriculture sector. The region is estimated to dominate throughout the forecast period. The rise of technological innovations in the pharmaceutical industry in the United States is driving the demand for methacrylate copolymers in North America.
North America and Western Europe dominate the basic methacrylate copolymer market due to the presence of established players such as The Dow Chemical Company, Akzo Nobel N.V., Evonik Industries, etc. The pharmaceutical industry is bound by strict regulations as chemical ingredients play a vital role in the health effect. The global supply and demand of base methacrylate copolymer are highly influenced by the growth statistics of the pharmaceutical industry, as base methacrylate copolymer has wide application in medical formulations and drug-related products.
The market is expected to expand at the fastest rate in the Asia Pacific region. Rising consumer inclination towards eco-friendly and sustainable products, significant growth of various applications, such as cosmetic, personal care, and feed supplement, coupled with the presence of methacrylate copolymer manufacturing companies are some of the prominent factors driving the demand for methacrylate copolymer in the region. Increased FDI investment in the medical industry to improve medical standards and technology in developing economies such as China and India is likely to stimulate the market during the forecast period.
The major players in the basic methacrylate copolymer market are focusing on expanding their capabilities and resources to meet the increasing demand for methacrylate copolymers in various applications. Additionally, major players are adopting partnership and joint venture strategies to augment their reach and resources. Several major players are launching new products to meet the rising demand for innovative products in various end-use industries.
Various assessments and findings presented in the study helps identify prevailing opportunities and new areas in key and emerging regions. The study takes a closer look at developments in the manufacturing industry and the important trends that will underpin new applications.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 11.75% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Tons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, End-Use Industry, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia Pacific; Middle East and Africa |
| Key Countries Covered | The USA, Canada, Mexico, Brazil, Germany, The United Kingdom, France, Italy, Spain, Russia, BENELUX, China, Japan, South Korea, India, ASEAN Countries, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa |
| Key Companies Profiled | The Dow Chemical Company; BASF SE; Corel Pharma Chem; ChemPoint.com Inc.; Croda Inc.; Akzo Nobel N.V.; Evonik Industries; Network Polymers, Inc.; Sigma-Aldrich Co. LLC.; Vikram Thermo (India) Limited; Other Key Players |
| Customization & Pricing | Available upon Request |
In 2022, the value of the global basic methacrylate copolymer market reached over USD 6.14 billion
During the forecast period, the global basic methacrylate copolymer market is estimated to expand at a CAGR of 11.75% from 2022 to 2032.
The global basic methacrylate copolymer market is projected to reach USD 18.38 billion by the end of 2032.
The key players operating in the basic methacrylate copolymer market are The Dow Chemical Company, BASF SE, Corel Pharma Chem, ChemPoint.com Inc., Croda Inc., Akzo Nobel N.V., Evonik Industries, Network Polymers, Inc., Merck KGaA, Vikram Thermo (India) Limited, and among others.
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Basic Methacrylate Copolymer Market
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