The market for Glacial Methacrylic Acid is anticipated to reach USD 1.94 billion by the end of 2032, up from USD 1.30 billion in 2022, rising at a CAGR of 4.53%.
| Report Attribute | Details |
|---|---|
| Market Value (2022) | USD 1.30 Billion |
| Market Anticipated Value (2032) | USD 1.94 Billion |
| Market Growth Rate (2022 to 2032) | 4.53% CAGR |
A more refined form of methacrylic acid called glacial methacrylic acid contains monomethyl ether of hydroquinone (as inhibitor). Glacial methacrylic acid is a clear or colorless liquid that can be purchased. It is a necessary step in the creation of methacrylic acid esters, which are then employed in the manufacture of a variety of plastic goods.
In addition, polymers and specialty esters use glacial methacrylic acid as an ingredient. They display qualities including clarity and excellent weather ability. Glacial methacrylic acid is utilized to create copolymers and homopolymers because it polymerizes so readily. By reducing the softening temperature, glacial methacrylic acid decreases the hardness of copolymers.
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The main drivers of the growth of the glacial methacrylic acid include increasing urbanization or construction activities, particularly in developing economies, as well as growth and expansion of the end user verticals. These end user verticals include paints and coatings, textile, leather, paper manufacturing, automobiles, electronics, and others.
Methacrylic acid is an organic, colorless substance with a distinct, overpowering odor. Methacrylic acid readily dissolves in warm water and combines well with most organic solvents. These organic compounds are often created by the decarboxylation of citric acid, mesa conic acid, and other acids, and are widely employed in the production of synthetic resins. Along with meth acrylamide sulphate and sulfuric acid, it can also be made using acetone cyanohydrin. Methacrylic acid serves as a base for several industrial compounds.
The main factor driving the glacial methacrylic acid growth rate is the rising demand for and use of the substance by the automotive and electronics sectors. Growing building activity and infrastructure investment, particularly in developing nations, will open more profitable growth prospects for the glacial methacrylic acid market.
The demand for glacial methacrylic acid will continue to rise as a result of growing industrialization and increased funding for research and development of glacial methacrylic acid. The growth rate of the glacial methacrylic acid market would also be boosted by rising demand for bio-based methacrylic acid.
Growing paints and coatings industry is expected to be the major driver for the growth of glacial methacrylic acid market. Glacial methacrylic acid offers wide range of advantages as it can be easily polymerized, which makes it best suitable for use in production of polymer based products.
The growing polymer industry is also expected to fuel the demand for glacial methacrylic acid over the forecast period. Manufacturers of glacial methacrylic acid are expected to push for marginal improvements in the near future.
The higher cost charged for this product is considered to be a major challenge that may hold back the easy growth of the global glacial methacrylic acid market. In addition to this, the less storage span of glacial methacrylic acid is also expected to be a factor hampering the expansion of this market.
Many manufacturers of glacial methacrylic acid are investing in research and development of this product, so as to make it multifunctional. This would bring in new opportunities for the market participants in terms of revenue over the forecast period.
The global market for glacial methacrylic acid is predicted to suffer from high raw material costs. Methacrylic esters, acrylonitrile, maleic acid esters, vinyl acetate, vinyl chloride, styrene, butadiene, ethylene, and other monomers are among the raw materials utilized in the production of glacial methacrylic acid. These raw ingredients are very expensive. The price of glacial methacrylic acid rises as a result.
The absence of global regulations governing the production and use of glacial methacrylic acid is also anticipated to limit the market during the forecast period. The laws and regulations governing the usage and applications of glacial methacrylic acid differ in every nation. It is challenging for international market actors to comply with these national guidelines and laws. This makes foreign investors less likely to fund the sector.
The demand for glacial methacrylic acid is anticipated to increase as its use as an intermediary in the creation of various chemical compounds and chemical formulations increases.
The majority of methacrylic acids, particularly ethyl, are employed as intermediates in the creation of methacrylic acid esters. They are also included in several compositions for coatings and textiles. These are subsequently utilised as co-monomers to create a range of plastic goods.
Reactive adhesives, in which the methacrylic acid monomer reacts to cure the glue, also use glacial methacrylic acid. Additionally, it is used in speciality polymers and solid coatings.
The glacial methacrylic acid market is anticipated to grow during the forecast period as a result of the expansion of the paints and coatings and textiles industries around the world as well as increased investment by major market players in research and development activities to create advanced and sustainable glacial methacrylic acid.
Since it gives latex paint, adhesive, and textile compositions useful qualities, glacial methacrylic acid has recently become a popular co-monomer among paint and textile manufacturers. Major manufacturers are also making considerable investments in the creation of innovative, environmentally friendly glacial methacrylic acid products in order to comply with the varied laws and regulations of governments throughout the world.
Methacrylic acid is an organic compound largely used as a precursor in the production of esters. Glacial methacrylic acid is a refined grade of methacrylic acid and comprises of monomethyl ether of hydroquinone (as inhibitor). Glacial methacrylic acid is available in the form of clear as well as colourless liquid.
It is used as an intermediate in the production of methacrylic acid esters, which is further used in the production of wide range of plastic products. Glacial methacrylic acid is also used in the production of polymers and also as an additive in specialty esters.
They exhibit properties such as clarity and good weatherability. Glacial methacrylic acid polymerizes very easily, and is used in the production of copolymers and homopolymers. When glacial methacrylic acid is incorporated into copolymers, it reduces the hardness by lowering the softening temperature. The global glacial methacrylic acid market is expected to increase at a moderate CAGR over the forecast period.
Europe is expected to be the dominant region in the global glacial methacrylic acid market throughout the forecast period. Europe is the major region which exports glacial methacrylic acid to rest of the world. North America would also contribute a major share in the global glacial methacrylic acid market over the forecast period.
The growing paints and coatings industry is expected to propel the demand for glacial methacrylic acid in this region. Asia Pacific is expected to exhibit a higher growth rate in the global glacial methacrylic acid market over the forecast period. Middle East and Africa and Latin America are also expected to witness higher growth rates in the global glacial methacrylic acid market over the forecast period.
The competition landscape for global glacial methacrylic acid market is marked by the presence of many organised players as well as small players. Examples of some of the major players identified in the value chain of global glacial methacrylic acid market are.
The Dow Chemical Company, Opes International Ltd., Sigma-Aldrich Co. LLC., Evonik Industries AG, BASF SE, Zhejiang Union Chemicals Industry Co.,Ltd, Cadence Chemical, among other prominent participants.
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The market is likely to register a CAGR of 4.53% through 2032.
The market is currently valued at USD 1.30 Billion in 2022.
The market is likely to grow to a valuation of USD 1.94 Billion by 2032.
Europe is likely to be a leading market during the forecast period.
Various outlooks are to be considered in order to understand the glacial methacrylic acid market segmentation. Some of the examples of such breakdown include, segmentation of global glacial methacrylic acid market on the basis of application, and end use industry.
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Glacial Methacrylic Acid Market
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