Sign in

5G Network Infrastructure Is Fastest Growing Segment Fueling The Growth Of Methyl Methacrylate Market

Pooja Khodke
5G Network Infrastructure Is Fastest Growing Segment Fueling The Growth Of Methyl Methacrylate Market

The global Methyl Methacrylate Market is estimated to be valued at Us$ 8264.78 Mn in 2023 and is expected to exhibit a CAGR Of 4.9% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Methyl methacrylate is an ester of methacrylic acid and is primarily used in the production of plastics and polymers. It provides unique properties such as transparency, clarity and durability to various products used across industries like construction, automotive, lighting fixtures and medical industries.

Market key trends:

One of the key trends driving the growth of methyl methacrylate market is its increasing usage in the manufacturing of 5G network infrastructure. As 5G network deployment is accelerating globally, there is a rising demand for materials that can withstand high frequencies and provide superior electrical insulation properties. Methyl methacrylate based polymers meet these requirements and are increasingly being utilized in the manufacturing of antennas, semiconductor components and circuit boards used in 5G infrastructure. These polymers provide properties like heat resistance, moisture resistance and transparency needed for sleek designs. Their usage is projected to surge substantially over the coming years with continued build-out of 5G networks worldwide.

Segment Analysis

The global methyl methacrylate market is segmented into utility and application. By utility, the methyl methacrylate market is bifurcated into surface coatings, plastic additives, chemical intermediates. Among these, the surface coatings segment dominates the global market and accounted for over 35% of the total share in 2023 owing to the wide application of methyl methacrylate resin in various surface coatings such as automotive topcoats and architectural coatings.

Key Takeaways

The global methyl methacrylate market is expected to witness high growth, exhibiting CAGR of 4.9% over the forecast period, due to increasing demand from the automotive and construction industries.

Regional analysis

Asia Pacific dominated the methyl methacrylate market in 2023 and is estimated to continue its dominance during the forecast period. This is attributed to the increasing automotive production and brisk construction activities in major economies such as China and India.

Key players

Key players operating in the methyl methacrylate market are BASF SE, Evonik Industries AG, Arkema Group, The Dow Chemical Company, Akzo Nobel N.V., Sumitomo Chemical Company Limited, Chi Mei Corporation, Huntsman Corporation, Kolon Industries, Karl Jungbecker GmbH & Co. KG, Dhalop Chemicals and Saudi Methacrylate Company.

Read More : https://www.insightprobing.com/the-growing-construction-industry-projected-to-boost-the-growth-of-methyl-methacrylate-market/

Pooja Khodke
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more