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The methyl methacrylate adhesives market size is forecast to increase by USD 549.4 million and is estimated to grow at a CAGR of 7.08% between 2023 and 2028. The market is experiencing significant growth, driven by increasing demand from developing countries and the expansion of end-use industries such as construction, automotive, and electronics. Furthermore, the rise in research and development (R&D) activities to innovate and improve product offerings is fueling market growth. However, stringent regulations and policies regarding the use of MMA adhesives due to their potential health and environmental hazards pose challenges to market players. To mitigate these challenges, manufacturers are investing in sustainable production methods and developing eco-friendly alternatives to MMA adhesives. In the next decade, the market is expected to grow at a steady pace, driven by these trends and the increasing demand for high-performance adhesives in various industries.
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Methyl Methacrylate (MMA) adhesives are a type of acrylic adhesives widely used in various industries due to their excellent bonding properties. The automotive and transportation industry is a significant end-user of MMA adhesives, where they are employed in manufacturing automotive components such as deflectors, bumpers, rooftops, composite tanks, blades, and car seats. MMA adhesives provide superior strength and durability, making them ideal for bonding metal, composites, and other materials. MMA adhesives are also used in the production of polymers like ABS, PVC, and acrylics. In the electronics industry, they are used to bond various electronic parts and in the production of smartphone screens. The demand for MMA adhesives is driven by the increasing production of plastic waste and the need to find effective solutions for waste management.
Polymethyl methacrylate (PMMA) is the primary raw material used in the production of MMA adhesives. PMMA is also used in the production of paints and coatings, providing a clear advantage to MMA adhesive manufacturers as they can leverage the same raw material base. The market for MMA adhesives is expected to grow significantly due to the increasing demand for lightweight and durable materials in various industries. Aluminum, stainless steel, and steel are some of the metals used in conjunction with MMA adhesives to produce strong and durable bonds. Methyl methacrylate adhesives, known for their strong bonding properties, are often used in conjunction with acrylic powder to enhance the durability and performance of various applications, from industrial to consumer products.
Increasing demand from developing countries is notably driving market growth. The market is experiencing significant growth, particularly in developing countries such as China, India, Indonesia, Brazil, and Mexico. These nations are becoming key manufacturing hubs for industries like wind energy, general assembly, and lightweight construction, driving the demand for MMA adhesives.
Moreover. factors contributing to this growth include the availability of raw materials, inexpensive labor, ample land, and lower transportation costs. Additionally, less stringent government regulations in these countries make it an attractive destination for manufacturers. The emergence of China and India as major players in the construction, automobile, and other industries in the Asia Pacific region is further boosting the market. Thus, such factors are driving the growth of the market during the forecast period.
Increase in R and D activities is the key trend in the market. Methyl methacrylate adhesives have gained significant traction in various industries, including wind energy and general assembly, due to their lightweight and high-performance properties. Technological advancements in the US, Germany, the UK, and Canada are propelling the market growth, with innovations such as 3D vision systems being employed for precise adhesive application inspection.
Moreover, these systems offer enhanced accuracy compared to 2D vision systems, enabling the determination of adhesive volume and features. In October 2018, Sika launched two new structural methyl methacrylate adhesives, Sikafast-306 and Sikafast-308, catering to industrial assembly and transportation applications. These eco-friendly and non-toxic adhesives, based on toughened methyl methacrylate technology, ensure superior adhesion to diverse substrates. Thus, such trends will shape the growth of the market during the forecast period.
Stringent regulations and policies is the major challenge that affects the growth of the market. The Market faces regulatory challenges due to stringent regulations on the Volatile Organic Compounds (VOC) content of adhesives by the Environmental Protection Agency (EPA) and REACH.
Moreover, companies in this market must comply with these standards, such as the MassDEP's Regulation 310 CMR 7.18(30) in the US, which sets VOC limits for industrial and commercial adhesives and adhesive primers. Europe's EU-No 10/2011 regulation governs the content of plastic materials and articles, including adhesives, in indirect food additives. These stringent regulations and policies may hinder the growth of the Market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
3M Co: The company offers methyl methacrylate adhesive that are a durable bond with descent shear, peel, and high impact strength.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The automotive and transportation segment is estimated to witness significant growth during the forecast period. Methyl Methacrylate Adhesives (MMA) play a pivotal role in various industries, including automotive, wind energy, building & construction application, and electronics. In the automotive sector, MMA adhesives are extensively used in bonding metal, composites, deflectors, bumpers, roofs, composite tanks, blades, car seats, instrument panels, trucks, and cars.
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The automotive and transportation segment was the largest segment and valued at USD 509.20 million in 2018. The lightweight vehicles and energy-efficient vehicles segments are witnessing significant growth, leading to increased demand for high-performance adhesives. MMA adhesives also find extensive applications in the construction industry for bonding engineering adhesives, concrete, and other construction products. In the wind energy industry, MMA adhesives are used in the production of wind turbine blades. Hence, such factors are fuelling the growth of this segment during the forecast period.
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APAC is estimated to contribute 55% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Methyl Methacrylate Adhesives (MMA) play a significant role in various industries, including metal and composite manufacturing for automotive and transportation applications. These adhesives are used in producing deflectors, bumpers, roofs, composite tanks, blades, car seats, and instrument panels for trucks, cars, rails, buses, and tanks. In wind energy, MMA adhesives are utilized in the production of lightweight, energy-efficient, and high-performance vehicles and construction products. Engineering adhesives, such as Flexel and Polymethyl methacrylate (PMMA), are used in the production of polymers like ABS, PVC, and acrylics, as well as in the paints and coatings industry and medical industry. Hence, such factors are driving the market in APAC during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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Methyl Methacrylate Adhesives (MMA adhesives) are a type of adhesive made from Polymethyl methacrylate (PMMA) monomers. These adhesives find extensive applications in various industries, including metal and composite industries for bonding metals like aluminum, stainless steel, and steel, as well as composites used in deflectors, bumpers, roofs, composite tanks, blades, car seats, instrument panels, trucks, cars, rails, buses, tanks, and wind energy applications. In the automotive sector, MMA adhesives are used in lightweight vehicles, energy-efficient vehicles, and high-performance vehicles for bonding various components. Also, MMA adhesives find applications in building & construction, engineering adhesives, and other industries. They are used in the production of construction products, engineering adhesives, paints and coatings, electronics parts, and even in the medical industry. The demand for MMA adhesives is driven by the increasing production capacity of polymers such as ABS, PVC, acrylics, and metals. The market for MMA adhesives is expected to grow significantly due to their high-performance properties and versatility.
In addition, smart phone screens and various electronics parts also utilize MMA adhesives for their bonding requirements. The market is pivotal across diverse industries like Building & construction, Paints & coatings, and Wind energy due to their robust bonding capabilities for Interior body panel structures and the General assembly industry. These adhesives play a crucial role in the Lightweight adhesives sector, addressing sustainability concerns with Eco friendly adhesives and Sustainable adhesives formulations. As the market expands, manufacturers focus on reducing Plastic waste production through innovative adhesive solutions that adhere well to various Substrate materials. Methyl Methacrylate Adhesives are increasingly preferred for their durability and versatility, meeting stringent industry standards while contributing to environmental goals in the Paints & coatings industry and beyond.
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Market Scope |
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Report Coverage |
Details |
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Page number |
154 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.08% |
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Market growth 2024-2028 |
USD 549.4 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.49 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 55% |
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Key countries |
China, US, Japan, Germany, and South Korea |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
3M Co., Arkema SA, Chemique Adhesives, DELO Industrie Klebstoffe GmbH and Co. KGaA, EMME ESSE M.S. Srl, Engineered Bonding Solutions LLC, H.B. Fuller Co., Henkel AG and Co. KGaA, Hernon Manufacturing Inc., Huntsman Corp., IPS Corp., ITW Performance Polymers, Kisling AG, L and L Products Inc., NOVA Chemicals Corp., Parker Hannifin Corp., Parson Adhesives Inc., Permabond LLC, Scott Bader Co. Ltd., and Sika AG |
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Market dynamics |
Parent market analysis, market report , market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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