Glycidyl Methacrylate Market Size

Glycidyl Methacrylate Market Size

Glycidyl methacrylate market size valued at USD 136.18 million in 2018 and will witness gains at over 9.8% CAGR from 2019 to 2025. Based on end user industry, the manufacturing units’ segment from <97% purity accounted $20 million in 2018 and is expected to maintain its dominant position throughout the forecast period.

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Growing requirements for polymers from the consumer goods, electronics, and building & construction industries should stimulate glycidyl methacrylate market growth. Global polymer production was estimated to exceed 350 million tons in 2017 which indicates ample growth potential. This product is routinely used with other monomers for producing polymers with high hardness, strength, water, solvent and thermal resistance. Rising demand for biobased plastics owing to an increase in environmental awareness and booming medical devices sectors should further fuel the industry growth.

Significant demand for adhesives & sealants to fulfil the growing packaging requirements of food & beverage and e-commerce industries is likely to accelerate the growth of global market. Global value for adhesives & sealants sector should exceed USD 80 billion by 2025 which indicates healthy growth potential. These substances promote adhesiveness in hot melt adhesives and are ideal for leather-rubber & leather-leather bonding. Rising preference for lightweight automobiles & aircraft to ensure regulatory compliance along with significant innovation in the development of green adhesives should promote glycidyl methacrylate market share.

Rising prevalence of stringent regulations on the use, sale and labelling of the product is likely to hinder market growth. Europe’s Classification, Labelling and Packaging regulation classifies this product as a high-risk hazard owing to its ability to cause eye damage, skin burns, organ damage, cancer and reduction in fertility. Code of Federal Regulations of the U.S. FDA allows the use of GMA based adhesives for food packaging provided they are separated from the food product by a barrier and do not exceed prescribed quantities.  However, companies are engaging in innovation to enhance safety performance and in production capacity expansion to satisfy rising customer demand which is likely to boost glycidyl methacrylate market revenue.