Market Analysis: Methyl Methacrylate Market, Near Infrared Absorbing Dye Market, Oriented Strand Board Subflooring Market forecasted for 2023-2030

SEATTLE, WASHINGTON, USA, July 7, 2023/EINPresswire.com/ -- The Methyl Methacrylate Market is expected to grow from USD 8.20 Billion in 2022 to USD 10.30 Billion by 2030, at a CAGR of 3.40% during the forecast period.The Methyl Methacrylate (MMA) market is driven by multiple factors, including increasing demand for MMA in the manufacturing of lightweight automotive components, electronic devices, and consumer goods. MMA is also used in the production of polymethyl methacrylate (PMMA) which is further used in construction, medical devices, and other applications.The target market for MMA includes the chemical industry, automotive, electronics, and consumer goods industry. The demand for MMA is expected to increase in developing countries due to the rise in construction activities, growth in the automotive sector, and the increasing demand for consumer goods.

There are three types of MMA production methods:

• ACH (Acetone Cyanohydrin)
• Isobutylene
• Ethylene methods

ACH method involves reacting acetone with hydrogen cyanide followed by subsequent reaction with methanol, producing MMA. Isobutylene method involves reacting isobutylene with formaldehyde to produce methacrolein which is then converted to MMA. Ethylene method involves the reaction of Ethylene and Formaldehyde, which is followed by oxidation to produce MMA.

Methyl Methacrylate (MMA) is a versatile chemical compound used in various applications. Polymethyl Methacrylate (PMMA) is a transparent plastic made from MMA, typically used in vehicles, construction, and lighting. As a plastic additive, MMA improves the durability and impact resistance of polymers used in household or industrial plastics. In surface coating, MMA is used to make hard-wearing and scratch-resistant coatings for automotive, electronics, and aerospace applications. MMA is also used in dental fillings and implants, adhesives, and sealants.

The Asia Pacific is expected to dominate the Methyl Methacrylate market with a market share of around 57% in 2019. This can be attributed to the increasing demand for polymethyl methacrylate (PMMA) in various industries such as construction, automotive, electronics, and healthcare. Europe and North America are expected to hold significant market shares as well, with Europe having a market share of around 24% and North America having a market share of around 14% in 2019. The Middle East & Africa and Latin America are expected to have smaller market shares of around 3% and 2% respectively. It is important to note that these market share percentages may be subject to change based on various factors such as market trends, economic conditions, and regulatory environment.

Major players operating in the Methyl Methacrylate Market include Mitsubishi Chemical, Rohm, Dow, Sumitomo Chemical, LGMMA, Asahi Kasei, Arkema, Kuraray, BASF, Formosa Plastics, Jilin Petrochemical, Longxin Chemical, and Shandong Hongxu.

In terms of sales revenue, Mitsubishi Chemical reported sales of $9.7 billion in 2019, while BASF reported sales of $59 billion in the same year. Sumitomo Chemical reported sales of $20.2 billion, and Dow reported sales of $43 billion.

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The Near Infrared Absorbing Dye Market is expected to grow from USD 23.00 Million in 2022 to USD 57.00 Million by 2030, at a CAGR of 13.98% during the forecast period.The Near Infrared Absorbing Dye market is primarily driven by increasing demand from the healthcare sector for diagnostic and therapeutic purposes. NIR dyes are widely used in medical imaging procedures such as fluorescence-guided surgery, computed tomography, and magnetic resonance imaging. Besides, the rise in the number of chronic diseases such as cancer, cardiovascular, and respiratory disorders has created a need for highly effective and efficient diagnostic tools, thereby driving market growth.Growing advancements in nanotechnology have also fueled the demand for Near Infrared Absorbing Dye, as nanotechnology-based drug delivery systems require highly efficient imaging agents.

The expected market share of the Near Infrared Absorbing Dye market in North America and Europe is estimated to be around 35% to 40% and 30% to 35% respectively. The Asia-Pacific region is also expected to show substantial growth in the near-infrared absorbing dye market due to the growing adoption of NIR spectroscopy in life sciences, food, and beverage industries. The market share percent valuation for the Asia-Pacific region is estimated to be around 20% to 25%. Other regions, including Latin America and the Middle East and Africa, are also expected to have moderate growth in the near-infrared absorbing dye market.

The Near Infrared Absorbing Dye Market is highly competitive and fragmented. The market includes several players such as Epolin, LuminoChem, Moleculum, H.W. Sands Corp., QCR Solutions, Yamamoto Chamicals, Adam Gates & Company, American Dye Source, Crysta-Lyn, Fabricolor, Exciton (Luxottica), Yamada Chemical, Qingdao Topwell, and FEW Chemicals, among others.

These companies use near-infrared absorbing dyes to offer customized solutions for various applications. They help to grow the near-infrared absorbing dye LuminoChem had a revenue of $38 million in 2019, while Epolin had a revenue of $12 billion in 2018. Yamamoto Chemicals had a revenue of $260 million in 2018, while Exciton (Luxottica) had a revenue of $9.4 billion in 2019.

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The Oriented Strand Board Subflooring Market is expected to grow from USD 3.50 Billion in 2022 to USD 5.10 Billion by 2030, at a CAGR of 5.50% during the forecast period.The Oriented Strand Board (OSB) Subflooring market has been growing steadily due to its durability, strength, and versatility for various construction applications. The target market for OSB Subflooring includes new construction and renovation projects in residential, commercial, and industrial buildings. In addition, the OSB Subflooring market is fueled by the rising demand for eco-friendly and sustainable building materials.One of the major drivers of revenue growth in the OSB Subflooring market is the trend towards affordable housing. The use of OSB Subflooring helps builders reduce their construction costs while maintaining high-quality standards.

Europe is expected to witness significant growth due to the increasing adoption of OSB subflooring in the construction sector. The report predicts that the market share of the Oriented Strand Board Subflooring market in North America and Europe will reach 40% and 35%, respectively, by 2025.Additionally, Asia Pacific is expected to witness substantial growth in the Oriented Strand Board Subflooring market due to the rapidly expanding construction industry in countries like China and India. The market share of the Oriented Strand Board Subflooring market in Asia Pacific is expected to reach 20% by 2025.

The Oriented Strand Board (OSB) subflooring market is highly competitive, with a few key players dominating the market. Some of the major companies operating in the market are West Fraser, Louisiana-Pacific, Georgia-Pacific, Kronospan, Weyerhaeuser, J.M. Huber, Tolko Industries, Swiss Krono Group, Martco, EGGER Group, Medite Smartply, DOK Kalevala, Dieffenbacher, Langboard, Luli Group, and Baoyuan Wood.

According to various reports, Georgia-Pacific reported sales revenue of $20.7 billion in 2019, while Weyerhaeuser reported sales revenue of $6.6 billion in the same year. Kronospan reported sales revenue of € 1.6 billion in 2019, whereas Swiss Krono Group reported sales revenue of CHF 2.3 billion in the same year.

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Mohit Patil
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