Global Polymethyl Methacrylate Market (PMMA) was valued at US$ 4.60 Mn in 2017 and is expected to reach US$ 6.66 Mn by 2026, at a CAGR of 4.75 % during a forecast period.
Global Polymethyl Methacrylate Market (PMMA)
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Polymethyl Methacrylate (PMMA) market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in Polymethyl Methacrylate (PMMA) market.
Polymethyl methacrylate is a synthetic resin produced by the polymerization reaction of methyl methacrylate. It is transparent, rigid and clear plastic usually used as shatterproof replacement of glass (windows, skylights, laminated signs & aircraft canopies etc.). This plastic material has proved to be an economical alternative for polycarbonate when tensile strength, transparency, polishing & UV resistance is more important than impact strength and resistance to chemicals & heat.
Moreover, mechanical and optical property degradation caused by UV exposure is minimal with PMMA. Such characteristics have enabled the PMMA applications in various end-use industries such as construction, signs & displays, automotive, and electronics industry. Rise in demand for lightweight automotive elements to improve fuel efficiency & reduce carbon emissions is likely to boost the demand over the forecast period. The product is widely used in the automotive applications comprising windshields & sun visors, caravan windows, taillights & headlights, and automotive glazing, among others. Growth in PMMA demand from construction industry is largely influenced by prevailing macroeconomic conditions and is subject to vary in different
parts of the world.
Growing demand from end-use industries & Increasing demand for led flat screens are the major drivers fueling for the growth of the market. The fluctuating in feedstock prices hindered the growth of the market during the forecast period, as due to lack of raw material, manufacturer are unable to produce material in bulk. The rapid development of optoelectronics in terms of technology and adaptability and Growing R&D investments in bio-based PMMA is expected to provide lucrative opportunities for the market. The manufacturing key players are focusing on developing new products through R&D activities to gain a competitive scope in the market.
Based on form, Extruded sheet is the largest and widely used form of PMMA due to its many applications, thereby increasing its demand. Because of its easy fabrications, high gloss surface, weather resistant, excellent clarity, and other properties. Tremendous thickness tolerance provided by these sheets make them ideal for end-users where complex shapes are required. Moreover, extruded sheets also provide cost-efficiency since they are produced using longer and economical techniques.
In terms of application, Signs & displays is the largest application which holds the largest share in the market during the forecast period. Due to excellent properties such as durability, resistance to chemicals and weathering, strength, and ease of processing, which makes them suitable for making instruction boards, advertising boards, display boards, and signage. Additionally, rapidly growing demand of light weight parts in vehicles to reach fuel-efficiency is boosting PMMA consumption in the automotive industry. Automotive glazing is widespread application among manufacturers owing to the high weathering & UV resistance of this product, along with optimum acoustic properties.
Geographically, Asia Pacific holds the highest market during the forecast period, in terms of value and volume. The APAC region, particularly the Chinese market ids the biggest market consumer of PMMA, accounting for about 66% of the total market. 2016 was a strong year for the European and North American auto industry and therefore for the development of PMMA. After APAC, Europe accounts 17% and North America accounts 15% are the most important sales region of the PMMA molding compound and semi-finished products.
Scope of Global Polymethyl Methacrylate Market (PMMA):
Global Polymethyl Methacrylate Market (PMMA), by Form:
- Extruded
- Cast Acrylic
- Pellets
- Beads
Global Polymethyl Methacrylate Market (PMMA), by Application:
- Signs & Displays
- Construction
- Automotive
- Others
Global Polymethyl Methacrylate Market (PMMA), by Region:
- North America
- Europe
- Middle East & Africa
- Asia Pacific
- South America
Key Players Operating In Global Polymethyl Methacrylate Market (PMMA):
- Mitsubishi Rayon Co. Ltd
- Sumitomo Chemical Co., Ltd
- Chi Mei Corporation
- Evonik Industries AG
- Kolon Industries, Inc.
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