2,3-Dihydroxypropyl Methacrylate (DHPMA) Market
2,3-Dihydroxypropyl Methacrylate (DHPMA) Market Analysis, By Purity (<98% & >98%), By Grade (Research & Industrial) and By Region - Market Insights 2023 to 2033
Analysis of 2,3-Dihydroxypropyl Methacrylate (DHPMA) Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
2,3-Dihydroxypropyl Methacrylate Market Growth Outlook (2023 to 2033)
The global 2,3-dihydroxypropyl methacrylate (DHPMA) market is set to reach a valuation of US$ 246.5 million in 2023 and it is expected to grow at a CAGR of 5.7% to reach US$ 428.6 million by the end of 2033.
2,3-dihydroxypropyl methacrylate commonly known as glyceryl mono-methacrylate finds wide-ranging applications across dental materials production, medical device coatings, adhesives production, contact lens manufacturing, polymer processing, and research laboratories. The market growth outlook for 2,3-dihydroxypropyl methacrylate is anticipated to be positive in the coming years.
2,3-Dihydroxypropyl Methacrylate Market Size (2022A)
US$ 233.3 Million
Estimated Market Value (2023E)
US$ 246.5 Million
Forecasted Market Value (2033F)
US$ 428.6 Million
Global Market Growth Rate (2023-2033)
North America Market Share (2023)
East Asia Market Share (2023)
Key Companies Profiled
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Historic and Future Path for 2,3-Dihydroxypropyl Methacrylate Market
2,3-dihydroxypropyl methacrylate is a chemical compound with a molecular structure containing a hydroxyl group and a methacrylate functional group. It is widely used in the production of coatings, adhesives, and dental materials. This compound offers excellent adhesion, chemical resistance, and biocompatibility properties, making it suitable for various industrial applications. It acts as a versatile monomer that enhances the performance and durability of end-products in sectors such as automotive, construction, and healthcare.
- Short Term (2023-2026): Growing demand for DHPMA from the coatings manufacturers coupled with growing polymer processing to drive the DHPMA market growth.
- Medium Term (2026-2029): The growing personal care spending especially on oral care across both developed and developing economies to drive the DHPMA market growth.
- Long Term (2029-2033): Ongoing technological advancements are likely to contribute to the expansion of DHPMA applications. Research and development efforts aimed at improving the properties and performance of DHPMA-based products that can lead to enhanced formulations and expanded applications in various industries. This continuous innovation drives the long-term growth of the DHPMA market.
Over the 2018-2022 historical period, the global 2,3-dihydroxypropyl methacrylate market registered a CAGR of 2.6%, according to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 5.7% CAGR between 2023 and 2033.
Market share analysis of 2,3-dihydroxypropyl methacrylate based on the level of purity and region is provided in a nutshell in the above image. Under the purity segment, the <98% segment dominates with an 74.9% market share in 2023.
Market Dynamics Overview
“Growing Contact Lens Market: Driving Demand for DHPMA”
The surging popularity of contact lenses has become a major catalyst for the demand for DHPMA, a crucial ingredient in the manufacturing of hydrogel-based contact lenses.
- With the projected global revenue of the contact lens market estimated to reach US$ 18.35 billion in 2023, and an expected growth rate of 4.3% from 2023 to 2027, the market shows promising and steady expansion.
This growth is propelled by various factors such as the increasing need for vision correction, evolving fashion trends, and the convenience offered by contact lenses. As the demand for contact lenses continues to rise, so does the demand for DHPMA, which is instrumental in creating hydrogel materials. DHPMA's exceptional water-absorbing and biocompatible properties make it an ideal component for developing soft and comfortable contact lenses that ensure optimal oxygen permeability to the cornea.
“Availability of Alternatives Restrains the DHPMA Market Growth”
The presence of alternatives such as TEGDMA, BisEMA, and others is likely to restrain the growth of the DHPMA market.
TEGDMA is a widely used alternative to DHPMA in dental materials, such as dental composites and adhesives. It offers similar properties and functionality to DHPMA and is often chosen for its excellent mechanical strength and low shrinkage during polymerization. The availability and adoption of TEGDMA could potentially impact the market growth of DHPMA in the dental care industry, as manufacturers are likely to prefer one over the other based on factors like cost, performance, and regulatory requirements.
Additionally, diethylene glycol dimethacrylate (DEGDMA) is a lower-cost alternative to DHPMA that is used in various applications, including adhesives, coatings, and dental materials. It exhibits good chemical resistance and adhesion properties. The availability and affordability of DEGDMA could potentially impact the market growth of DHPMA, especially in price-sensitive industries or regions where cost considerations play a significant role in material selection.
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Why the Chinese DHPMA Market is Lucrative?
The growing oral care expenditure in China is contributing to the growth of the DHPMA market as it is a key ingredient used in the production of dental materials such as dental adhesives, restorative materials, and dental prosthetics. The increased spending on oral care in China is driving the demand for these dental materials, subsequently boosting the demand for DHPMA.
With increasing disposable incomes and improving living standards, people in China are becoming more conscious about oral health. The awareness of the importance of oral care and dental hygiene has been growing, leading to higher dental visits, check-ups, and treatments. This increased focus on oral care is driving the demand for advanced dental materials, including those that utilize DHPMA.
Hence, the growing oral care expenditure in China is stimulating the demand for dental materials, which, in turn, is driving the growth of the DHPMA market.
China DHPMA to expand at a CAGR of 6.4% over the projected period to reach a valuation of US$ 92.6 million by 2033.
Why the United States Market has High Demand for DHPMA?
The United States is known for its advanced manufacturing industries, including automotive, aerospace, electronics, and medical devices. DHPMA is used in the production of specialty polymers and resins that find applications in these industries. Its unique chemical properties make it suitable for coatings, adhesives, sealants, and other high-performance materials required in these sectors.
The United States has a robust research and development sector, particularly in the fields of chemistry, materials science, and biomedical engineering. DHPMA has shown potential for various applications in these fields, such as in the development of biocompatible materials, drug delivery systems, and tissue engineering scaffolds. The demand for DHPMA is driven by the need for innovative solutions and advancements in these areas.
The U.S. DHPMA market is likely to grow at a CAGR of 5.2% and reach a valuation of US$ 85.4 million by 2033, creating an absolute $ opportunity of US$ 36.2 million during the forecast period.
Why is the Industrial Grade DHPMA in High Demand?
The industrial grade DHPMA is experiencing high demand due to its versatile properties and wide range of applications. DHPMA’s role as a valuable monomer in the production of various polymers and resins is driving its demand and creating immense growth opportunities for the market players.
DHPMA is commonly used in the synthesis of adhesives, coatings, and dental materials. Its hydrophilic nature and ability to form crosslinks make it suitable for applications requiring excellent adhesion, water absorption, and biocompatibility. Furthermore, DHPMA finds significant use in the production of advanced materials in industries such as healthcare, electronics, and automotive. DHPMA also provides improved mechanical strength and flexibility to coatings, ensuring their durability and resistance to environmental factors.
The high demand for industrial-grade DHPMA is attributed to its exceptional properties and its applicability in a diverse range of industries, making it an indispensable ingredient for the development of advanced materials and innovative products.
Industrial grade registered a valuation of US$ 205.8 million in 2022 and is expected to reach a valuation of US$ 385.2 million by 2033. Industrial grade accounts for a share of 88.2% in 2022, in the global DHPMA market.
How Does Adhesives Production Demand Drive the DHPMA Market?
The demand for DHPMA in the market is strongly influenced by the production of adhesives. Adhesives play a crucial role in various industries, including automotive, construction, electronics, and packaging, driving the need for key raw materials like DHPMA.
DHPMA serves as a vital monomer in the formulation of adhesives due to its unique properties. Its hydrophilic nature and ability to form crosslinks make it an excellent choice for adhesives requiring strong adhesion and water resistance. DHPMA also offers versatility in adhesive formulation, allowing for adjustments in viscosity, reactivity, and mechanical properties.
In the automotive industry, adhesives are increasingly replacing traditional bonding methods, driving the demand for high-performance adhesive formulations. DHPMA enables the production of adhesives with superior bonding strength, durability, and impact resistance, meeting the stringent requirements of automotive assembly.
Additionally, the construction sector relies on adhesives for various applications such as flooring, paneling, and insulation. The use of DHPMA in adhesive formulations ensures reliable bonding, enhanced flexibility, and resistance to environmental factors, contributing to the durability and performance of construction materials.
With the growing demand for advanced adhesives across industries, the demand for DHPMA is expected to rise. Its unique properties make it an essential ingredient in formulating adhesives that meet the evolving needs of manufacturers seeking reliable, high-performance bonding solutions.
Adhesives production accounted for 23.2% of the market share in 2022 and is anticipated to grow at a CAGR of 5.5%, creating an absolute $ opportunity of US$ 42.9 million between 2023-2033.
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Prominent DHPMA manufacturers are BASF SE, NOF Corporation, Molekula Group, SynQuest Laboratories, Smolecule Inc., Daken Chemical Limited, and Zhengzhou Alfa Chemical Co., Ltd
Manufacturers of DHPMA place a strong emphasis on continuous product development and innovation. They invest in research and development activities to enhance the properties of DHPMA, develop new formulations, and optimize manufacturing processes.
This approach allows them to introduce advanced DHPMA materials with improved performance characteristics, enabling them to meet evolving market demands and gain a competitive edge. By staying at the forefront of technological advancements, DHPMA producers can explore new applications and tailor their offerings to emerging industry needs.
Fact.MR has provided detailed information about the price points of key manufacturers of 2,3-dihydroxypropyl methacrylate positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of 2,3-Dihydroxypropyl Methacrylate Industry Research
By Purity :
By Grade :
By Application :
- Dental Materials Production
- Medical Device Coatings
- Implantable Devices
- Adhesives Production
- Contact lens Manufacturing
- Polymer Processing
- Research Laboratories
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- FAQs -
The global DHPMA market is expected to be valued at US$ 245.6 million in 2023.
Worldwide demand for DHPMA is expected to reach a valuation of US$ 428.6 million by 2033-end.
During 2018-2022, the demand for DHPMA increased at 2.6% CAGR.
East Asia is expected to be the crown of the global DHPMA market accounting for 31.5% market share.
The Chinese market is forecasted to grow at a CAGR of 6.4% during the forecast period.