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% from 2018 to 2023.

Increasing demand for MMA adhesives from the automotive & transportation industry is one of the major drivers for the MMA Adhesives market. Automotive & transportation is the largest application because of the increasing use of advanced materials for component manufacturing, which develops a need for bonding technology that can bond dissimilar materials with adjustable assembly time. Metal is the largest substrate, in terms of value, and is expected to dominate the market in the future.

The composites segment is projected to register the highest CAGR during the forecast period

Composite are projected to be the fastest-growing substrate type in the global MMA adhesives market, in terms of value. This high growth can be attributed to the growing demand for MMA adhesives for bonding composite components, such as deflectors, bumpers, roofs, composite tanks, blades, car seats, interior body panel structures, and instrument panels of trucks, cars, rails, buses, and tanks.

The automotive & transportation end-use industry is projected to register the highest CAGR during the forecast period

The market size of MMA adhesives for automotive & transportation end-use industry, in terms of value, is projected to grow at the highest growth rate. This is due to the increasing penetration of MMA adhesives as a technology for bonding composites to metals and metals to metal components. MMA adhesives offer the benefit of bonding materials having different strength and different coefficient of thermal expansion. It distributes the load evenly to the entire bonding area. MMA adhesives require minimal or no surface preparation along with the benefits of excellent fatigue, superior toughness, endurance, and excellent impact resistance.

By region, the MMA Adhesives market in APAC is projected to register the highest CAGR during the forecast period

APAC is projected to be the fastest-growing market for MMA adhesives. The market in this region is mainly driven by the demand from automotive & transportation, wind energy, and marine end-use industries. Automotive & transportation industry is one of the major applications of MMA adhesives in this region. The economic growth in the APAC region, particularly in emerging markets such as India, Taiwan, Indonesia, Malaysia, Thailand, and Vietnam is contributing to the increase in the number of infrastructure projects, which is expected to drive the demand for MMA adhesives in the building & construction application.

Market Dynamics

The major driver of the MMA adhesives market is the increasing demand for lightweight, energy-efficient, and high-performance vehicles. Automotive is one of the largest end-use industries for MMA adhesives. These adhesives play a major role in the manufacturing of automobiles, as they have the ability to improve aesthetics as well as reduce the weight of vehicles, thereby enhancing fuel efficiency and limiting carbon emissions. Earlier, adhesives were only used for laminating, bonding, and assembling of automotive interior components. Now they are developed to ensure compliance with stringent environmental regulations formulated to keep carbon emissions to a minimum. The use of MMA adhesives improves vehicle durability and reduces weight, while enhancing cost savings. These adhesives offer additional stiffness and rigidity to vehicles without impacting the riding comfort for passengers.

However, many end-use industries, such as transportation, wind energy, marine, assembly, and construction, have been using mechanical fasteners and adhesives, including acrylics, epoxies, and PU as alternatives to MMA adhesives. These alternatives have high popularity as they are easily available in the market and the engineers have technical expertise in using these techniques. These adhesives offer competitive performance at lower prices than MMA adhesives. Per unit cost of using these alternatives are comparatively lesser than MMA adhesives. Thus, in such conditions, it is difficult for MMA adhesive to increase its penetration in various applications.

Research Design

Leading Players

Henkel is engaged in the consumer and industrial business. The company operates through various segments, including adhesive technologies, beauty care, laundry & home care and corporate. The company�s adhesive technologies segment is a global leader in the adhesives market across all the industry segments. It manufactures MMA adhesives under this segment. The company has operations in North America, Latin America, Asia-Pacific, Europe, the Middle East, and Africa. Strategically, the company has adopted inorganic strategies to increase its share in the MMA adhesives market.

H.B. Fuller is a leading global adhesives manufacturer, formulator, and marketer. The company operates through five segments, namely, Americas adhesives, construction products, EIMEA (Europe, India, and the Middle East & Africa), engineering adhesives, and Asia Pacific. The company manufactures adhesives for various applications such as assembly, packaging, converting, nonwoven & hygiene, performance wood, flooring, textile, flexible packaging, graphic arts, envelope, and electronics. It markets thermoset-based film adhesive under brand Flexel. H.B.Fuller has a strong customer base and operates in 37 countries of Europe, North America, and APAC. As of 2017, it had more than 6,000 employees, globally.

Recent Developments

In April 2017, Sika launched SikaFast-3300 and SikaFast-3500 structural methyl methacrylate adhesives for transportation and industrial assembly applications.

In June 2016, Henkel the company launched Henkel Adhesives Innovation Center (HAIC) in Shanghai, China. With this, the company targets to expand its R&D capabilities for adhesives and provide innovative market-driven solutions to local customers of APAC thereby strengthening the foothold of Henkel in the MMA adhesives market.

In March 2015, ITW Plexus launched a new product, MA515, which is used for bonding small and medium-sized composite and thermoplastic assemblies. It is used to eliminate the problems associated with the bonding of materials such as carbon fiber, polyamide, and poly-dicyclopentadiene (PDCPD). This development is expected to help meet the demand for MMA adhesives, globally.

Scope of the report

Report Metric Details Years considered for the study 2016�2023 Base year 2017 Forecast period 2018�2023 Units considered Value (USD Million) and Volume (Kiloton) Segments Substrate and Application Regions APAC, North America, Europe, the Middle East & Africa, and South America Companies Illinois Tool Works Inc. (US), Bostik (Arkema) (France), SCIGRIP (UK), Scott Bader (UK), H.B. Fuller (US), Henkel (Germany).

A total of 25 players are covered.

The MMA Adhesives market report has been segmented in the following segments:

MMA Adhesives Market, by Substrate:

Metal

Plastic

Composite

Others

MMA Adhesives Market, by End-use Industry:

Automotive & Transportation

Building & Construction

Marine

Wind Energy

General Assembly

Others

MMA Adhesives Market, by Region:

APAC China India Japan South Korea Thailand Rest of APAC

Europe Germany UK France Russia Spain Rest of Europe

North America US Canada Mexico

South America Brazil Others

Middle East & Africa South Africa Rest of Middle East & Africa



Key Questions Addressed by the Report

What is the mid-to-long term impact of the developments undertaken in the industry?

What are the upcoming technologies used in MMA adhesives industry?

Which segment has the potential to register the highest market share?

What is the current competitive landscape in the MMA adhesives market in terms of new technologies, developments, and capabilities?

What will be the growth prospects of the MMA adhesives market?

Available customizations

With the given market data, MarketsandMarkets offers customizations according to the company�s specific needs. The following customization options are available for the report:

Product Analysis

Product matrix that gives a detailed comparison of product portfolio of each company

Country-wise Analysis

Further breakdown of Rest of APAC countries into Taiwan, Vietnam, Singapore, Philippines, Australia, and New Zealand.

Further breakdown of Rest of Europe into the Netherlands, Switzerland, Greece, Hungary, Romania, Croatia, Bulgaria, Denmark, Finland, Austria, Norway, and Ukraine.

Further breakdown of Rest of the Middle East & Africa into the Algeria, Egypt, Iraq, Nigeria, Kenya, and Morocco

Further breakdown of Rest of South America into Chile, Uruguay, Ecuador, and Paraguay.

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