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Glycidyl methacrylate (GMA) is a clear, colorless liquid with a sharp odor. It is a combustible liquid and vapor and is readily miscible with most of the organic solvents. Glycidyl methacrylate is an ester of methacrylic acid & glycidol and is used for the production of automotive coatings, adhesives, electrical laminates, multifunctional acrylates, and hydrogenated liquid epoxy resin (LER). Glycidyl methacrylate has a variety of uses in metal coatings due to its protection properties such as corrosion resistance, weather ability, and chemical resistance.
The key market driver for the global glycidyl methacrylate market is the increasing use of adhesives & sealants and plastics for packaging. Rising demand for protective, chemical resistive, and heat resistive packaging for foods & beverages, electronics, and consumer goods is expected to raise the demand for plastics, hence acting as a market driver for glycidyl methacrylate market.
Key Market Driver -
Increasing use of adhesives & sealants and plastics for packaging
Key Market Restraint -
Regulations imposed by the governments on the use of glycidyl methacrylate
Key market restraint for the global glycidyl methacrylate market is the regulations imposed by the governments on the use of glycidyl methacrylate due to its hazardous nature. Contact with glycidyl methacrylate has been known to cause skin burns, tissue damage, corneal damage, and allergic skin reaction. Long exposure might result in ulceration, gastrointestinal irritation, and irritation in the respiratory tract. The above factor will act as market restraint for the global glycidyl methacrylate market.
Based on application, the market is segmented into coatings, adhesives, electrical laminates, plastics, and ion exchange resins.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Some of the notable companies in global glycidyl methacrylate market are The Dow Chemical Company, Estron Chemical Inc., Haihang Industry Co. Ltd., Mitsubishi Gas Chemical Company, Sumitomo Chemicals, Lianyungang Ningkang Chemical Co., Ltd., Jin Dun Chemical, Hubei Xian Shen Biotechnology Co. Ltd., Kowa American Corporation, Oswal Udhyog, Merck KGaA, and other key players.
The global glycidyl methacrylate market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific occupies the major share of the global glycidyl methacrylate market. China and India are the major contributors to the growth of this region owing to the increasing demand for plastics and coatings from electronic, consumer goods, and construction industries. In North America, growth will be primarily due to the rising demand for coatings for industrial purposes. Europe will exhibit growth in the glycidyl methacrylate market due to the growing demand for glycidyl methacrylate for automotive, electronics, and other sectors. The rising construction & architectural activities in Latin America will increase the demand for coatings and adhesives, hence growing the glycidyl methacrylate market. The Middle East & Africa will display development in the glycidyl methacrylate market due to the high requirement for coatings in industries.
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