What is Global Methacrylic Acid (MAA) Market?
The Global Methacrylic Acid (MAA) Market is a vast and dynamic sector that deals with the production, distribution, and consumption of Methacrylic Acid, a crucial component in various industries. This market is a significant part of the global economy and plays a vital role in the development of the industrial sector. Methacrylic Acid (MAA) is a colorless, viscous liquid that is widely used in the production of numerous products, including coatings, adhesives, and textiles. The global market for Methacrylic Acid (MAA) is highly competitive and is characterized by the presence of numerous players, both large and small. In 2022, the market was valued at a whopping US$ 1248 million and is projected to reach US$ 1647.6 million by 2029. This indicates a Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period of 2023-2029.
Acetone Cyanohydrin Method, Isobutylene Oxidation Method in the Global Methacrylic Acid (MAA) Market:
The Global Methacrylic Acid (MAA) Market is primarily divided into two methods of production: the Acetone Cyanohydrin Method and the Isobutylene Oxidation Method. The Isobutylene Oxidation Method is the more popular of the two, accounting for about 70% of the market. This method involves the oxidation of isobutylene, a hydrocarbon, to produce Methacrylic Acid. The process is highly efficient and cost-effective, making it the preferred choice for many manufacturers. On the other hand, the Acetone Cyanohydrin Method involves the reaction of acetone and hydrogen cyanide to produce Methacrylic Acid. This method is less common due to its higher cost and lower efficiency. However, it is still used in certain applications where the specific properties of the resulting Methacrylic Acid are required.
Ester Synthesis, Coating Field, Adhesive Field, Textile Field, Others in the Global Methacrylic Acid (MAA) Market:
Methacrylic Acid (MAA) has a wide range of applications in various fields. The primary use of Methacrylic Acid is in the synthesis of esters, which account for about 60% of the market. These esters are used in the production of various products, including paints, adhesives, and plastics. In the coating field, Methacrylic Acid is used to produce coatings that are resistant to weathering, chemicals, and UV radiation. In the adhesive field, Methacrylic Acid is used to produce adhesives that have excellent bonding strength and durability. In the textile field, Methacrylic Acid is used to produce textiles that are resistant to wrinkles, shrinkage, and fading. Other applications of Methacrylic Acid include the production of detergents, oil additives, and pharmaceuticals.
Global Methacrylic Acid (MAA) Market Outlook:
The global Methacrylic Acid (MAA) market is a dynamic and rapidly evolving sector. In 2022, the market was valued at US$ 1248 million and is projected to reach US$ 1647.6 million by 2029, indicating a Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period of 2023-2029. The market is dominated by the top 3 players, who collectively hold about 50% of the global market share. The Isobutylene Oxidation Method is the primary method of production, accounting for about 70% of the market. The main application of Methacrylic Acid is in the synthesis of esters, which holds a share of about 60% in the market. The market is expected to continue its growth trajectory in the coming years, driven by increasing demand from various end-use industries.
| Report Metric | Details |
| Report Name | Methacrylic Acid (MAA) Market |
| Accounted market size in 2022 | US$ 1248 in million |
| Forecasted market size in 2029 | US$ 1647.6 million |
| CAGR | 4.0% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Mitsubishi Chemical, MGC, Kuraray, LG, DuPont, Basf, Evonik, Formosa, Hefa Chem, Jiangsu Sanyi |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
