The global pure monomer resins market is set to enjoy a valuation of US$ 1.26 billion in 2022 and increase at a CAGR of 5.8% to reach US$ 2.22 billion by the end of 2032.
Pure monomer resins (PMR) are considered robust adhesives for bonding materials that are exposed to high temperatures. As a result, these are extensively used as adhesives in the automotive industry for bonding aluminium and plastic parts. Moreover, adhesives and sealants are widely used in the construction industry and for oil and water pipes.Pure monomer resins are broadly used in paints that are used for markings on roads as guiding lines, zebra crossings, and also road signs. These paints are heated before they are used on the roads; to increase their adhesive properties for a long tenure, pure monomer resins are added to the formulation. Along with the growing application of pure monomer resins across several end-use industrial sectors, the technology is also evolving by itself. Rising market opportunity has created an interest among manufacturers to increase cash flow in the research and development of pure monomer resins to increase their downstream usability in adhesives, sealants, and polymer modification, to name a few. Recent R&D has led to solutions of pure monomer resins as thermal-resistant sealants and nonwoven applications.
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Why are We Seeing Steady Increase in Demand for Pure Monomer Resins?
“Temperature-resistant properties of Pure Monomer Resins to Bolster Market Stance”
Due to shear adhesion failure temperature, most hot-melt adhesives have a distinctive temperature at which they lose their temper to the point of failure while prone to higher temperatures.
Pure monomer resins are used to improve the capability of an adhesive to uphold its cohesion at higher temperatures. Increased temperature resistance often keeps the structure of adhesives intact with higher SAFT points, without losing their adhesion properties.
While many adhesive applications do not require the use of pure monomer resins, these are a suitable solution for adhesives when their compatibility, temperature resistance, and application viscosity control are at critical levels.
“Escalating Demand from Multifarious End-use Industries”
The global PMR market has witnessed penetrable growth over time. Continual development and growth in the pure monomer resins (PMR) market are being witnessed due to the sturdy growth of several end-use industries such as automotive, oil & gas, and food processing.
The pure monomer resins market is driven majorly by demand for adhesive production, sealant production, wax formulations, polymer and rubber compounding, marking paints, and various other related markets.
Additionally, development in the market of paints used in road makings will also add up to reinforce the demand for several related raw materials, with pure monomer resins being one of them.
End users extensively use pure monomer resins due to their compatible properties with a wide range of polymers – for instance, polyethene, ethylene-vinyl acetate (EVA) copolymers, styrene isoprene styrene (SIS), styrene-butadiene-styrene (SEBS), amorphous polyolefin (APO), styrene-butadiene rubber (SBR), and polychloroprene based adhesives, as well as acrylics, aromatic isocyanates, and polyester-based adhesives.
How is the U.S. Market for Pure Monomer Resins Progressing?
U.S. domestic players are concentrating more on supply chain gaps in the country by entering into strategic partnerships and joint ventures with third-party distributors as well as small-scale enterprises that are dealing with the automotive and food processing sectors.
Prominent manufacturers in the United States are also aiming at lowering their production costs by introducing innovative production technology to gain maximum revenue from sales.
The automotive industry has shown tremendous growth over the past decade due to low-interest rates, high disposable income, and government stimulus payments that have boosted demand, which, in turn, has surged the sales of pure monomer resins in the United States.
Rapid adoption of pure monomer resins in several industries has opened the market for new players to join the league of production. Due to fewer producers in the market, new entrants use high price points to increase their profit margin.
The U.S. pure monomer resins market is anticipated to surge ahead at a CAGR of 6.9% to reach US$ 482.4 million by 2032.
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Competitive Landscape
Prominent pure monomer resins manufacturers are Eastman (Synthomer), TOTAL Cray Valley, Rain Carbon Germany GmbH, Guangzhou Xinhuayue Resin Technology Co., Ltd, Kolon Industries, Yasuhara Chemical Co. Ltd, Songwon, and Puyang Tiancheng Chemical Co. Ltd.
Pure monomer resin producers should concentrate on resource and cost optimization, which will eventually cut miscellaneous expenses and upsurge their overall profitability. Prominent manufacturers of pure monomer resins should tie up with end-use industries such as automotive and food processing to drive their sales in terms of volume.
Fact.MR has provided detailed information about the price points of key manufacturers of pure monomer resins positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Key Market Players:
- Eastman (Synthomer)
- TOTAL Cray Valley
- Rain Carbon Germany GmbH
- Guangzhou Xinhuayue Resin Technology Co., Ltd
- Kolon Industries
- YASUHARA CHEMICAL CO., LTD.
- Songwon
- Puyang Tiancheng Chemical Co.,Ltd
Segmentation of Pure Monomer Resins Industry Research
Pure Monomer Resins Market by Resin Type :
- Styrene-based Pure Monomer Resins
- Alpha-methyl Styrene-based Pure Monomer Resins
- Others
Pure Monomer Resins Market by Application :
- Adhesive Production
- Sealant Production
- Polymer Modification
- Rubber Compounding
- Wax Formulations
- Coating Production
- Others
Pure Monomer Resins Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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