Hydroxyethyl Methacrylate (HEMA) Market Size, Share, Growth, and Industry Growth by Type (Purity Above 93%, Purity Above 97%, and Purity Above 99%), By Application (Coatings, Reactive Resins, Adhesives, and Others), Regional Forecast To 2031

Updated On: 08 April 2024

Hydroxyethyl Methacrylate (HEMA) Market REPORT OVERVIEW

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The global hydroxyethyl methacrylate (HEMA) market size was USD 430.7 million in 2022 and is projected to touch USD 668.07 million by 2031, at a CAGR of 5.0% during the forecast period.

Hydroxyethyl methacrylate (HEMA) also known as glycol methacrylate is an organic compound with formula H₂C=CCO₂CH₂CH₂OH. It is a colorless liquid that can polymerizes. It is a monomer that is used to make various polymers. It is an acrylic monomer that is used in curing polymer system and high performance coatings for high gloss against solvents, weathering, and scratching. It is synthesized with common methods such as reaction with ethylene oxide and methacrylic acid.

 The growing demand for hydroxyethyl methacrylate (HEMA) is due to its various applications in making various products. It is used in making contact lenses, 3D printing, acrylic resin, acrylic coatings, adhesives, additive for decontamination, lubricant, textile agent, and other products. The demand from chemical industry for the product is owed to its function as crosslinking agent during polymerization. The demand for the product is attributed to various uses such as controlled drug release in the pharmaceutical industry.    

COVID-19 Impact: Restrictions on Various Industries to Obstruct Market Growth

The effects of the COVID-19 pandemic are already being felt on a global level, the global hydroxyethyl methacrylate (HEMA) market was significantly influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. With many restrictions in the pandemic, different types of markets were negatively impacted. Restrictions on the operations of various industries halted the demand for simultaneous products. Halt on the industries such as advanced materials, chemical, pharmaceutical, 3D printing, and other industries impacted the demand for the product. On the contrary, the demand for the product was still present owing to the demand for pharmaceutical industry, where hydroxyethyl methacrylate (HEMA) is used as one of the raw materials.  

LATEST TRENDS

"Controlled Drug Release to Improve Market Progress"

Use of hydroxyethyl methacrylate (HEMA) is growing due to interests as fabrication method for pharmaceutical dosage forms in personalized medicines, which is estimated to expand the growth of the global hydroxyethyl methacrylate (HEMA) market. One of the main goals is to create personalized dosages that can enable controlled drug delivery. Individual drug delivery helps to create doses based on their shape, drug release characteristics, and consistency. To contribute to this, new UV-printable polymer resin is used for stereolithographic 3D printing is presented and characterized to be functional in implants in drug delivery. Such trend of using controlled dosages is projected to benefit growth and pose opportunities for the market.   

Hydroxyethyl Methacrylate (HEMA) Market SEGMENTATION

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• By Type

Based on type; the market is divided into purity above 93%, purity above 97%, and purity above 99%.

• By Application

Based on application; the market is divided into coatings, adhesives, reactive resins, and others.

DRIVING FACTORS

"Use of the Product in Making Contact Lenses to Strengthen Market Growth"

The global hydroxyethyl methacrylate (HEMA) market growth is anticipated to boost owing to its uses in making contact lenses. HEMA is used in production of contact lenses. It is one of the first materials that is used in manufacturing of soft contact lenses. The polymer has hydrophilic properties due to presence of an –OH group which makes it possible for oxygen to reach eye balls. It helps in getting oxygen to reach the eye balls through gel aqueous phase without any problems. When it dries the material it becomes hard and becomes soft and flexible after hydration. Such application of hydroxyethyl methacrylate (HEMA) is anticipated to drive the market growth.   

"Usage of Product in 3D Printing to Drive Product Demand"

Increasing demand for hydroxyethyl methacrylate (HEMA) is growing due to its application in 3D printing. It is used in 3D printing as it cures quickly at room temperature when exposed to UV rays in the presence of photointiators. It is used as a monomeric matrix where 40nm silica particles are suspended for 3D glass printing. It is combined with appropriate blowing agent and it forms a foaming resin which expands when it is heated. Such growing demand due to its applications in 3D printing is anticipated to fuel the demand in the hydroxyethyl methacrylate (HEMA) market.   

RESTRAINING FACTORS

"Harmful Effects of the Product to Hamper Market Growth"

There are a number of factors that can push the growth of the hydroxyethyl methacrylate (HEMA) market. Restraining factors such as harmful effects by skin contact. Harmful effects such as irritation to eyes, skin, and respiratory system. Accidental ingestion can result in damage the health of the person. High exposure levels can be toxic for any individual. This factor is anticipated to restrict and limit the market growth.

Hydroxyethyl Methacrylate (HEMA) Market REGIONAL INSIGHTS

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"Asia Pacific to Lead Market Due to Presence of Majority of Market Players "

Asia Pacific holds the largest part of the global hydroxyethyl methacrylate (HEMA) market share due to presence of majority of market players in the region. Japan holds the largest share in the market. The region has various applications of the product in various industries in the region which is anticipated to drive the market growth. Growing chemical industry in the region is expected to create demand for the product.    

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Mitsubishi Rayon (Japan)
• Evonik (Germany)
• DuPont (U.S.)
• Geo (U.S.)
• Nippon Shokubai (Japan)
• MGC (Japan)
• Sanlian Chem (China)
• Anhui Renxin (China)
• Zibo Xinglu Chemical (China)
• Hickory (China)
• Anshun Chem (China)
• Fangda Chem (China)
• Hechuang Chem (China)
• Sanmu Group (China)

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.