The GMA monomers market is expected to grow at a CAGR of almost 8% during the forecast period.
Procurement market intelligence analysts have announced its latest market research report on GMA monomers for the period 2016-2020. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global GMA monomers market during the forecast period. Some of the top vendors listed in this industry analysis include Dow Chemical, MGC, Arkema, Mitsubishi Rayon, and NOF.
Geographically, North America is the largest producer of GMA across the globe owing to the high production of GMA in countries such as the US and Canada. Much of the region’s high growth comes from sectors such as automobiles and energy and power generation industries, where GMA is used in reactors and boilers.
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According to Angad Singh, a category specialist at Technavio for research on category spend intelligence, “Companies are focusing on the adoption of new business models to capitalize on opportunities in emerging markets. They are focusing towards measures such as matching value propositions of regional suppliers and increasing their participation in contract manufacturing and technology transfers. The implementation of these new business approaches will not only reduce investments expenses but will also enhance product reach.”
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The new procurement market intelligence report analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Increase in need for high-performance automobile products
The growing demand for better aesthetics and efficiency drives demand for GMA monomers from the automobile sector. They are used by top manufacturers to reduce the temperature of exhaust systems and engine bays, enhance engine performance and reliability, and achieve rapid cooling of exhaust surfaces. Factors such as growth in global population and surging disposable incomes in both developed and developing countries are expected to increase car sales, which will positively contribute to the growth of the GMA market during the forecast period.
Change in aesthetic preferences of consumers
The rapid changes in consumers’ preferences for products such as home appliances with good aesthetic appeal are driving demand for GMA monomers, as these are extensively used to coat such products. Companies such as Siemens and HP are also making huge investments in research activities to improve the design and aesthetic appeal of their products including laptops, mobile phones, refrigerators, microwave ovens, and electric stoves.
Growth in APAC’s infrastructure requirements
The surge in construction activities in several APAC countries such as China, India, Singapore, Thailand, and Malaysia is fuelling demand for GMA. GMA is a key ingredient in paints, varnishes, adhesives, and other construction-related materials. With continuous growth in the infrastructural development in the APAC, the demand for GMA is likely to increase positively over the next four years.
Increase in adoption of thermoplastics in engineering products
The increasing applications of thermoplastics in components like valves, pumps, level controls, gauges, and specialty pipelines is boosting the demand for GMA monomers, as these monomers are used extensively to coat and protect these components from high temperatures and extreme weather conditions. The growing use of thermoplastics in engineering products is expected to drive the GMA market.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global GMA Monomers Market- Procurement Market Intelligence 2016’.
