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.

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Automotive & transportation is the largest end-use industry of MMA adhesives. The use of MMA adhesives in the automotive & transportation industry is increasing as they reduce the weight of vehicles and offer excellent performance characteristics. These adhesives find application in auto components as well as in the interiors and exteriors of automobiles. The use of adhesives has revolutionized the building and design processes in the automotive industry. MMA adhesives are used to bond roof fairings and skins, front and rear end caps, drivers’ consoles, door extension, engine cover, load locks, stand backs and draught screens, seats and tables, dashboard, sun visor, stairwell molding, headlamp surrounds, ceiling covering, window panes, bumper end caps, headlight surrounds, and other areas of vehicles.

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). The MMA adhesives market report analyzes the key growth strategies adopted by leading market players, between 2014 and 2018, which include new product launch, investment & expansion, and merger & acquisition.

Illinois Tool Works is a major manufacturer of MMA adhesives. The company through its ITW Engineered Polymers business segment manufactures adhesives, sealants, coatings, lubrication, grout, and cutting fluids for the industrial, construction, and consumer applications. The company has established a strong foothold in the MMA adhesives through the strategies of new product launch and merger & acquisition. 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.

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Henkel has majorly adopted the strategies of investment & expansion and merger & acquisition to grow in the MMA adhesives market. In June 2016, the company opened 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 its foothold in the MMA adhesives market. In October 2015, Henkel acquired all the shares of The Bergquist Company (US). This acquisition strengthened the position of Henkel as a leading solution provider for adhesives, sealants, and functional coatings, globally.

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