PUNE, India, February 25, 2016 /PRNewswire/ --
The report "Methyl Methacrylate Adhesives Market by Material Type (Composites, Metals, Plastics, and Others), by Application (Commercial Vehicle, Marine, Wind Energy, General Assembly, and Others), by Region - Global Forecast to 2020", published by MarketsandMarkets, The global MMA 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 Adhesives Market"
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Report analyzes the Global MMA Adhesives Market with respect to the market drivers, restraints, opportunities, and challenges in different regions. The major driver identified for the global MMA adhesives 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 led several end users to adopt MMA adhesives for bonding.
Increasing demand for bonding dissimilar materials in applications, such as commercial vehicle and marine, is driving the demand for MMA adhesives
Commercial vehicle and marine are some of the major applications of MMA adhesives. MMA adhesives enable bonding of thinner substrates with low read-through lines without any distortion on the outer surface of the component. These adhesives 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 adhesives
MMA adhesives 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 adhesives 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 that can bond dissimilar materials, in-turn increasing the demand for MMA adhesives.
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North America is the largest market for MMA adhesives Methyl Methacrylate Adhesives Market both in terms of volume and value, followed by Western Europe and Asia-Pacific. The U.S. is among the leading consumers of MMA adhesives globally, due to the increase in demand for MMA products in the country's market. MMA adhesives offer the benefit of high impact resistance and the ability to minimize the need for surface preparation. This increases the productivity and reduces the assembly costs, thus increasing the demand of MMA adhesives for bonding. The markets in other emerging economies, such as India and China, are also expected to witness rapid growth.
Key Market Players in the MMA adhesives 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.), and 3M Company (U.S.) among others.
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