MMA adhesives market is growing
Due to the increasing use of methyl methacrylate (MMA) adhesives in the automotive industry, the worldwide MMA adhesives market is experiencing significant growth. MMA adhesives play a key role in minimizing the weight of vehicles and also provide superior performance characteristics.
The global MMA adhesive market was valued at approximately $10.6 billion in 2018 and is projected to exceed $13.5 billion by 2024, growing at a CAGR of 4.3%, according to a recent market study by TechSci Research.
Growth expected thanks to automotive industry
Metal is anticipated to dominate the automotive market in the coming years. However, composites are expected to be the fastest-growing substrate creating more demand to MMA adhesives. The demand for bonding composite materials is increasing – including bumpers, deflectors, roofs, blades, composite tanks, car seats, interior body panel structures, and instrument panels.
MMA adhesives market shifting towards Asia-Pacific
The Asia-Pacific region has risen as one of the leading producers and consumers of MMA adhesives. Economic shrinkage and saturation in both European and North American markets shifts demand to Asia-Pacific. Rising income levels, increasing domestic demand, and easy access to resources strengthen the leading role.