Global Methyl Methacrylate Adhesives Market Size, Forecast: By Product: Metal, Plastic, Composite, Others; By End-Use: Automotive and Transportation, Building and Construction, Marine, Wind Energy, General Assembly, Others; Regional Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032

Global Methyl Methacrylate Adhesives Market Size

The global methyl methacrylate adhesives market reached a value of approximately USD 1.53 billion in 2023. The market is expected to grow at a CAGR of 7.70% during the forecast period of 2024-2032 to attain a value of USD 2.99 billion by 2032.

Methyl Methacrylate Adhesives Market Outlook

• The composite segment is expected to expand with the highest CAGR due to rising demand for bonding composite components.

• The increasing demand for lightweight and streamlined solutions, as well as better compatibility of MMA with metals and other special substrates, are driving the market.

• The growth in usage of MMA adhesives for transportation, aerospace, and construction applications is expected to act as an opportunity for the market.

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Methyl Methacrylate Adhesives Market Growth

Methyl methacrylate (MMA) adhesives are reactive acrylic adhesives that typically include an initiator/hardener and resin. MMAs are versatile and are widely used as they can bond strongly with most metals, rubbers, and engineering plastics, such as ABS, PC, PET, fibreglass, and wood, among others. At room temperature, MMAs cure fast and reach their optimal binding strength in a very short time after application.

The key drivers aiding the methyl methacrylate adhesives market expansion are the growing demand from the electronics, construction, and marine industries, and the rising importance of lightweight vehicles with less CO2 emissions and better fuel efficiency. Additionally, the booming automotive sector, which uses methyl methacrylate extensively in interior and exterior parts, is expected to unlock significant growth opportunities for the market. Furthermore, the increasing use of methyl methacrylate in the production of polymers such as PMMA, SMMA, and MABS, as well as its applications in paints and coatings, adhesives and sealants, and industrial paints, are also driving the market growth.

Key Trends and Developments

Development of new technologies for MMA production, rising number of residential projects, and implementation of PMMA are factors shaping the methyl methacrylate adhesives market outlook

May 2024

Deesawala Rubber Industries has launched a new manufacturing unit worth INR 40 crore in Hyderabad and plans to set up two more units by investing INR 80 crore. This expansion will increase adhesive production capacity from eight to 25 units by 2025.

October 2023

Bostik, the adhesive solutions division of Arkema, started manufacturing FIT30 45, a methyl methacrylate (MMA) structural adhesive technology, in North America. This improved supply chain concerns in transportation vehicle markets and provided customers with direct access to the product.

October 2022

Rohm and OQ Chemicals have broken ground for a new world-scale methyl methacrylate (MMA) production plant at Bay City, Texas. The facility will be operational in 2024 and is expected to produce 250,000 metric tonnes of MMA annually by using LiMA technology.

March 2020

Mitsubishi Chemical Group (MCG) announced construction of a new 350,000 metric tonne methyl methacrylate (MMA) plant on the US Gulf Coast. The facility will use MCG's proprietary ethylene-based ALPHA technology and is expected to be fully operational by 2025.

Growing demand for lightweight and low-carbon-emitting vehicles

The rising need for lightweight and low-carbon-emitting vehicles has increased the demand for methyl methacrylate in manufacturing windshields and door trims. For example, poly and styrene MMA is used in lightweight automotive parts due to its high strength-to-weight ratio and resistance to scratches.

Development of new technologies

Ethylene-based MMA production is a rising technology and its increasing utilisation for different purposes can aid the methyl methacrylate adhesives market growth. This trend can provide new development opportunities, especially in regions where ethylene is readily available.

Expansion of production capacity and strategic collaborations

Market players are expanding production capacity and forming strategic collaborations to meet growing demand. For instance, Rohm, in June 2024, expanded its production capacity at the Wallingford plant in Connecticut (USA) to strengthen its market position for speciality PMMA moulding compounds.

Rising importance of environment-friendly and sustainable products

Companies are developing eco-friendly production methods and products that can be recycled or reused, driven by consumer awareness and regulatory pressures to reduce plastic waste. For example, recycled MMA is used in PMMA production due to its lower carbon footprint.

Methyl Methacrylate Adhesives Market Trends

The growth of the market is also driven by the increasing demand from the building and construction industry owing to the rapid infrastructural developments in various regions around the world. MMAs are widely in making windows, uPVC doors, panels, and architectural components, due to their excellent bonding properties.

Also, the rise in residential development has aided the construction sector to expand quickly in nations like India, Indonesia, Vietnam, Thailand, and Singapore, among others. The rapid development pace is anticipated to provide numerous opportunities for methyl methacrylate adhesives market development.

Moreover, the rising implementation of polymethyl methacrylate (PMMA), in the manufacturing of domes, which are used in the building and construction industry, owing to various advantages, such as UV resistance, high transparency, and surface hardness, is expected to proliferate the market value.

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Methyl Methacrylate Adhesives Industry Segmentation

The EMR’s report titled “Methyl Methacrylate Adhesives Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Metal

• Plastic

• Composite

• Others

Market Breakup by End-Use

• Automotive and Transportation

• Building and Construction

• Marine

• Wind Energy

• General Assembly

• Others

Market Breakup by Region

• North America 

• Europe 

• Asia Pacific 

• Latin America 

• Middle East and Africa

Methyl Methacrylate Adhesives Market Share

Composite segment is witnessing rapid growth due to rising use of MMA in making composite materials

The market for methyl methacrylate adhesives, based on product, is comprised of metal, plastic, and composite, among others. Among these, the composite segment is expected to show a high growth rate during the projection period, due to the high demand for methyl methacrylate adhesives for composites. The MMAs are increasingly being utilised for various composites, such as bumpers, blades, deflectors, roofs, car seats, and composite tanks, among many others.

MMA is used in the production of various automotive parts, such as exterior and interior components, due to its high scratch resistance

The automotive and transportation segment, followed by the building and construction segment is expected to hold a significant methyl methacrylate adhesives market share. The automotive sector has increased the demand for MMAs as these adhesives have penetrated the market as one of the best solutions for bonding composites. With an increasing focus on manufacturing lighter vehicles, MMAs provide an excellent solution as they can distribute the load evenly around the bonding area while providing superior toughness, endurance, and abrasion resistance. Automotive sector uses MMA for making windshields, trim, fenders, bumpers, and trim.

As per methyl methacrylate adhesives market analysis, the building and construction sector is driven by the rapidly growing population and increasing urbanisation, especially in the Asia Pacific region. Marine segment includes the use of MMA in the production of various marine components and parts, such as boat hulls, propellers, and other marine equipment. MMA is used in marine applications due to its high resistance to chemicals and water.

Leading Companies in the Methyl Methacrylate Adhesives Market

Market players are focused on product innovation, expanding their geographical presence, and strengthening their market positions through strategic alliances and collaborations

The 3M Company is one of the largest multinational conglomerates in the world, with a focus on industrial, health care, safety and consumer products. The company was founded in 1902 and is based in Minnesota, United States. It offers abrasives, adhesives, building materials, coatings, electronics materials, lubricants, labels, and tapes.

Arkema S.A. is a multinational chemical manufacturing company with its headquarters located in Colombes, France. Founded in 2004, the company has developed its expertise in high-performance materials, industrial specialities, and coating solutions. Their three main speciality materials include adhesive, advanced materials, and coatings.

Scott Bader Company Limited is one of the leading international chemical companies, established in 1921. The company is headquartered in Wellingborough, United Kingdom, and it has been operating for more than 100 years with expertise in the manufacturing of adhesives, resins, functional polymers, advanced composites, and gel coats that are distributed in various market sectors.

Cedesa Ltd was founded in 1988 and is headquartered located in Hertfordshire, United Kingdom. The company specialises in the production and supply of a wide range of chemical and adhesive products. Some of the products offered by it are cyanoacrylates, water-based adhesives, rust treatment products, silicones, MMA/acrylic adhesives, MS polymers, lubricants, cleaners, waxes, and polishes.

Other key players included in the methyl methacrylate adhesives market report are Henkel AG & Co. KGaA, among others.

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Methyl Methacrylate Adhesives Market Analysis by Region

Asia-Pacific is estimated to be the largest market during the forecast period, driven by the growth of automotive and construction industries

Asia-Pacific region is the largest market for MMA, driven by the high demand from countries like China and South Korea, which are major producers and consumers of MMA. Additionally, the region's significant expansion in a variety of industries, including building and construction and transportation is expected to expand the methyl methacrylate adhesives market share as well.

Furthermore, the manufacturing of automobiles has increased significantly in countries such as India, Indonesia, Malaysia, and China, which is positively impacting the market. Another factor driving the growth of the MMA market in APAC include strategic investments in production capabilities. For instance, Daesan MMA Corp, a South Korean company, announced the expansion of its MMA production capacity to meet the growing demand for the product in the region.

North America region also holds a significant share of the global methyl methacrylate adhesives market, driven by strong demand from various industries, including automotive and electronics. Major producers are expanding their production capacities to meet the growing demand for MMA. For instance, Huntsman Corporation expanded its MMA production capacity at its plant in Texas, USA in 2018.

Key Highlights of the Report

Methyl Methacrylate Adhesives Market Report Snapshots

Methyl Methacrylate Adhesives Market Size

Methyl Methacrylate Adhesives Market Growth

Methyl Methacrylate Adhesives Market Trends

Methyl Methacrylate Adhesives Market Share

Methyl Methacrylate Adhesives Companies

Methyl Methacrylate Adhesives Market Regional Analysis

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.