The Glycidyl methacrylate is an ester of methacrylic acid and glycidol which is a mutual monomer that is utilized in the introduction of epoxy resins. It is preferably matched for coating and resin applications owing to its great purity and dual monomer functionality. Also, it conveys epoxy functionalization to polyolefins and several other acrylate resins as epoxies comprise diglycidyl ether of bisphenol A, which competently favors its submission in the polymer and adhesives industry.
According to the report analysis, ‘Global Glycidyl Methacrylate Market to reach USD 287.70 Million by 2027’ states that the product growth is projected to slow down in the upcoming duration owing to the worldwide pandemic of COVID-19, where lockdowns in several economies result in shut down of producing units of dissimilar end-use industries. This product is habitually utilized with other monomers for introducing polymers with great hardness, strong point, water, solvent, and thermal resistance. Therefore, speedy growth in the plastic industry and protuberant application of Glycidyl methacrylate in it is projected to propel the growth of the market over the review years. For instance: as per Plasticseurope.org, the worldwide production of Plastic was 348 million tons during 2017 which is augmented with 359 million tonnes throughout 2018. Thus, profitable growth in plastic industries is projected to propel the growth of marker over the review years. In addition, the requirement for adhesives & sealants to fulfill the increasing packaging necessities of food & beverage and e-commerce industries is also probable to accelerate the growth of the worldwide market. However, rigorous government regulation on the use, sale, and cataloging of the product is the aspect restricting the growth of market.
Furthermore, GMA is utilized in several applications, such as industrial & defensive finishes and waterborne coating resins, to develop the physical and chemical advantages of products the plastic sector of the Glycidyl Methacrylate market has been enlarging substantially owing to the widespread utilization of GMA in adhesives, industrial coatings, and latex. Additionally, growth in the investments in R& D activities is propelling the Glycidyl Methacrylate market.
Whereas, the regional analysis of the worldwide Glycidyl Methacrylate market is measured for the key regions likewise the Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/noteworthy region around the world in terms of market share due to the speedy growth in the requirement of Glycidyl Methacrylate in the packaging and e-commerce industries. Whereas, the Asia-Pacific is also projected to exhibit the greatest growth rate / CAGR over the prediction period of 2020-2027. Aspects such as speedy growth in plastics and adhesive industries around the region would generate lucrative growth prospects for the Glycidyl Methacrylate market around the Asia-Pacific region.
Additionally, glycidyl methacrylate enables copolymerization functionality with other vinyl monomers in non-aqueous and aqueous resolutions, thus generating these useful solutions in the packaging segment. Glycidyl methacrylate is also greatly utilized in plastic modifiers such as PET, PVC, engineering thermoplastics, and rubber. Thus, it is beneficial in end-user industries such as packaging. Development in the polymer industry and an increase in the utilization of plastics in the packaging industry are projected to influence the Glycidyl Methacrylate market throughout the forecast period.
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Ankur Gupta, Head Marketing & Communications