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Methyl Methacrylate (MMA) Adhesive Market worth 1.30 Billion USD by 2020
The report "Methyl Methacrylate (MMA) Adhesive Market by Material Type (Composites, Metals, Plastics, and Others), by Application (Commercial Vehicle, Marine, Wind Energy, General Assembly, and Others), & by Region - Global Forecasts to 2020", Global MMA adhesive market size projected to reach USD 1.30 Billion by 2020 registering a CAGR of 5.73% between 2015 and 2020.
Browse 116 market data Tables and 54 Figures spread through 159 Pages and in-depth TOC on "Methyl Methacrylate (MMA) Adhesive Market by Material Type (Composites, Metals, Plastics, and Others), by Application (Commercial Vehicle, Marine, Wind Energy, General Assembly, and Others), & by Region - Global Forecasts to 2020"
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The major driver identified for the global MMA adhesive market is the growing demand from commercial vehicle, marine, and wind energy industries. Increasing use of advanced materials, compliance with environmental regulations, reduction of manufacturing cost, and increasing speed of production process lead several end users to adopt MMA adhesive for bonding.
Increasing Demand for Bonding Dissimilar Materials in Applications such as Commercial vehicle and Marine is Driving Demand of MMA Adhesive
The commercial vehicle and marine are some of the major applications of MMA adhesive. MMA adhesive enable bonding of thinner substrates with low read-through lines without any distortion on the outer surface of the component. These adhesive are extensively used by the marine and transportation industries owing to the need for improving aesthetics along with maintaining design, costs, and speed of production.
Composites bonding are the largest material type for MMA adhesive
MMA adhesive are used to bond various material types such as composites, metals, plastics, and others. In 2015, the composites material segment accounted for the largest market share, in terms of value. Manufacturers are gradually shifting from traditional mechanical fasteners to MMA adhesive to reduce the weight of the vehicles and increase productivity. The current industry trend highlights the use of composite thermoplastics instead of heavy metals. Increasing use of lightweight materials such as composites, plastics, and aluminum develops a need for adhesive which can bond dissimilar materials which in-turn increases the demand of MMA adhesive.
North America is the largest market for MMA adhesive, both in terms of volume and value, followed by Western Europe and Asia-Pacific. U.S. is among the leading consumer of MMA adhesive, globally, due to the increase in demand MMA products in U.S. market. MMA adhesive offer the benefit of high impact resistance and the ability to minimize the need for surface preparation, thus increasing productivity and reducing assembly costs which increase the demand of MMA adhesive for bonding. The markets in other emerging economies such as India and China are also expected to witness rapid growth.
Key Market Players in MMA adhesive Market
The key players in this market are Illinois Tool Works Inc. (U.S.), Arkema (France), SCIGRIP (U.K.), Scott Bader (U.K.), Lord Corporation (U.S.), Cyberbond L.L.C. (U.S.), Henkel AG & Company (Germany), Permabond L.L.C. (U.S.), Parsons Adhesive Inc. (U.S.), Huntsman Corporation (U.S.), 3M Company, (U.S.) and others.
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