5 Prominent Players in the Hydroxyethyl Methacrylate Market

An organic molecule having the formula H2C = CCO2CH2CH2OH is called hydroxyethyl methacrylate, commonly referred to as glycol methacrylate. The liquid can polymerize, and it is colorless. It is a monomer that is employed in the production of several polymers. Possibly the most researched and utilized neutral hydrophilic monomer is hydroxyethyl methacrylate. Methacrylic acid is esterified by ethylene glycol or ethylene oxide using a ring-opening method to produce this bifunctional monomer, which has both acrylate and hydroxyl activity. While the homopolymer of HEMA is water-insoluble yet plasticized and swelled in water, the monomer of HEMA is water-soluble. HEMA is frequently used to improve the surface adherence or hydrophobicity of polymers and polymer-based products such as specialty coatings, resins, adhesives, printing inks, and acrylic plastics. HEMA can be utilized to introduce reactive sites or regulate hydrophobicity when employed as a co-monomer with other acrylic ester monomers.

According to Business Research Insights, the global hydroxyethyl methacrylate market size which stands at USD 430.7 million in 2022 is forecasted to touch USD 577.1 million by 2028 exhibiting a CAGR of 5% in the forecast period.

Business Research Insights Presents The Top 5 Players in The Market

Limited Growth Due To The Restriction Imposed During COVID-19

The COVID-19 pandemic had a severe impact on the economy due to several restrictions, supply-chain disruption, and nationwide lockdowns growth of the hydroxyethyl methacrylate market was hindered. Demand for HEMA monomer and HEMA polymer went considerably down due to the shutdown imposed in various industries. But in the post COVID-19 situation, the demand for commercial HEMA has significantly increased due to its growing utility in sectors like 3D printing, coating, pharmaceutical, and biomedical. As a result, according to our forecast, the hydroxyethyl methacrylate market share is projected to accelerate in a positive direction.

Business Research Insights Reports Top 5 Hydroxyethyl Methacrylate Manufacturers Worldwide

1. Mitsubishi Rayon (Japan)

Mitsubishi Rayon Co., Ltd., a Japanese textiles business that produces chemicals, polymers, and fibers, was founded on August 31, 1933. The largest producer of acrylic fiber in Japan. In 2010, Mitsubishi Chemical Holdings constituted it a completely owned subsidiary. Formerly a significant rayon factory in Japan, Mitsubishi Rayon Co., Ltd. has evolved into a significant producer of acrylics, plastics, polyesters, and optical fibers.

3. Evonik (Germany)

Evonik produced sales of €15 billion in 2021 and is present in more than 100 nations. Evonik goes far beyond chemistry to produce unique, successful, and long-lasting customer solutions. It is a German specialty chemicals firm with its global headquarters in Essen, North Rhine-Westphalia. It is one of the biggest specialty chemicals firms worldwide and the second-largest German chemicals firm 

3. DuPont (U.S.)

DuPont is counted among the top chemical engineering company in the world established Eleuthère Irénée du Pont in 1802, and it has its headquarters in Wilmington, Delaware in the U. S. In the modern day, DuPont produces a wide range of industrial chemicals, synthetic fibres, petroleum-based fuels and lubricants, pharmaceuticals, building materials, sterile and specialty packaging materials, cosmetics components, and agrochemicals. It has facilities, branches, and associates across the globe.

4. Nippon Shokubai (Japan)

The corporate purpose of NIPPON SHOKUBAI, a multinational petrochemical corporation, is "TechnoAmenity - Providing prosperity and comfort to people and society with our cutting-edge technology."  NIPPON SHOKUBAI CO., LTD. is manufacturer and retailer of sophisticated and basic compounds, synthetic polymers, and catalyzers.  Super absorbent polymers, acrylic acid, and automotive catalysts are among the leading company's products. Nippon Shokubai exports goods to Singapore, the US, and Germany.

5. MGC (Japan)

The Mitsubishi Gas Chemical Group specializes on creating compounds, including performance materials as well as fine and basic compounds. It aspires to be a leading chemical firm with cutting-edge technology and a significant social impact. The company has five business segments, with four of them generating various sorts of chemicals, including those connected to natural gas, aromatics, functional chemicals, and specialty conducting polymers.

Growing Utility In The Biomedical Industry To Drive The Market Demand

The HEMA monomer is the bedrock for numerous hydrogel materials such as soft contact lenses, polymer binders for controlled medication release, absorbents for body fluids, and lubricious coatings. Consequently, among its many uses, its use in the biomedical industry has been expanding. Certain contact lenses use the HEMA polymer because it has the unique property of being stiff and simple to shape with grinding tools when it is dry, yet flexible when it absorbs water.