The market size of MMA adhesives is estimated at USD 1.09 billion in 2018 and is projected to reach USD 1.56 billion by 2023, at a CAGR of 7.5%. The increasing demand for lightweight and low carbon-emitting vehicles, the superior performance of MMA adhesives, and increasing demand from the automotive and marine end-use industries are expected to drive the MMA adhesives market during the forecast period.
APAC is the largest MMA adhesives market, which is mainly driven by the demand from the automotive & transportation, wind energy, and marine end-use industries. APAC is increasingly becoming an important global trade and commerce center. The region is currently the fastest-growing and the largest MMA adhesives market. With economic contraction and saturation in the European and North American markets, the demand is shifting to APAC. Vehicle production in APAC is expected to grow from 26.8 million units in 2013 to 43.1 million units by 2020. This growth is mainly due to the shift of base of the automotive manufacturers to the developing markets.
The key players in the market include Illinois Tool Works Inc. (US), Arkema (France), SCIGRIP (UK), Scott Bader (UK), Lord Corporation (US), Henkel (Germany), Permabond LLC (US), Parsons Adhesive Inc. (US), Huntsman Corporation (US), and 3M (US).
