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Glycidyl Methacrylate Market Size
- Report ID: GMI4293
- Published Date: Aug 2024
- Report Format: PDF
Glycidyl Methacrylate Market Size
Glycidyl Methacrylate Market size achieved USD 215.7 million in 2023 and will grow at 7.4% CAGR from 2024 to 2032. The market is poised for substantial growth, driven by increasing demand for polymers across key industries such as consumer goods, electronics, and building & construction. With global polymer production exhibiting significant growth potential, the market is set to expand.
Glycidyl methacrylate is commonly used with other monomers to produce polymers characterized by high hardness, strength, and resistance to water, solvents, and heat. Additionally, the rising demand for biobased plastics, fueled by growing environmental consciousness and a booming medical devices sector, further contributes to the market's expansion.
Moreover, the market's growth is bolstered by the increasing demand for adhesives and sealants, essential for meeting the evolving packaging needs of the food & beverage and e-commerce industries. The global adhesives & sealants sector is projected to experience robust growth potential. Glycidyl methacrylate plays a crucial role in enhancing the adhesiveness of hot melt adhesives, making it ideal for bonding materials like leather-rubber and leather-leather. The growing preference for lightweight materials in the automotive and aerospace sectors, coupled with innovations in green adhesives, is expected to drive further growth in the market.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Glycidyl Methacrylate Market Size in 2023: | USD 215.7 Million |
| Forecast Period: | 2024–2032 |
| Forecast Period 2024–2032 CAGR: | 7.4% |
| 2024–2032 Value Projection: | USD 419.8 Million |
| Historical Data for: | 2021–2023 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 172 |
| Segments covered: | By Purity, By Application By End use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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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 market revenue
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Glycidyl Methacrylate Market Scope
