In 2018, the global market for polymethyl methacrylate was valued at USD 4.72 million. It is expected to grow at 8.4% CAGR between 2019 and 2025. The rapid digitalization of the retail sector has created a need for more attractive advertising options. This has led to an increase in demand for polymethyl methacrylate in signage, lighting, and other similar applications. Because of its inherent advantages, the product can be used across many industries. They have high chemical and thermal resistance, durability, low smoke emissions, and good abrasion resistance.
The product is being used by manufacturers as a shatterproof option to glass in illuminated signs and aircraft canopies. It is nearly 40% lighter than glass, has better rigidity, toughness and transparency. Conforming to strict manufacturing and emission standards, the product emits very little smoke during processing.
Bio-based raw materials have been developed to meet the rapidly increasing demand for sustainable plastics. This material is an alternative to petroleum derivatives, and can reduce energy consumption up to 30% in industrial work. New market opportunities are being created by increasing investments in developing such renewable products.
Manufacturing employs multiple technologies, including bulk polymerization and suspension polymerization. In recent years, the industry has seen many innovative technologies. Major companies have engaged in extensive R&D in order to develop new products that meet changing consumer needs.
The dominant product segment is extruded sheets. This segment accounted for 51.39% of global volume in 2018, largely due to strong demand in different industrial sectors for high-performance sheets. These sheets are ideal for complex applications due to their excellent thickness tolerance. Extruded sheets are also cost-effective because they are made using economically-oriented techniques.
Future growth will be aided by the increasing use of acrylic beads for texturing thermoplastics and coatings. This segment is projected to grow at a 9.2% annual rate between 2019 and 2025. These beads can also be used as binders in curable formulations such as resins, glues, and composites. Cast acrylics and pellets are gaining popularity due to increased demand for aquariums, and other structural panels.
The market can be divided into four segments based on its end-use: automotive, construction electronics, signs and display, and electronics. Because it allows for excellent light transmission, the product is popularly used in internal lighted signs for directions and advertising. Fiber optics are used in telecommunication signs, displays, and endoscopy applications. This material retains a beam of light within surfaces.
PMMA consumption is rising in the automotive industry due to increased demand for lightweight parts that improve fuel efficiency. Another popular use for PMMA is automotive glazing. This is due to its high weathering resistance and UV resistance, as well as the excellent acoustic properties.
For low- and passive-energy buildings, a wide range of PMMA pipes and vacuum insulation panels can be used. Thermal insulation applications are also becoming more popular with the use of extruded sheets and cast acrylics. The market is expected to grow due to rising disposable income and government support.
Asia Pacific will experience the highest revenue growth of 9.1% during the forecast period. The expected rise in per capita incomes in countries like China and India will drive automotive sales and subsequently boost product demand. Multinational companies are making significant investments in the region to take advantage of lucrative opportunities. In the coming years, the Middle East & Africa will be the second largest consumer.
Market dynamics will likely be influenced by several upcoming projects, as well as the consolidation of key industry players with regional manufacturers. There is significant potential for the industry in emerging countries in Central & South America. This was evident when the Rio Olympics (2016) increased the demand for signage and displays. Industry growth was also supported by the 2018 Central American & Caribbean Games.
Evonik Industries and Mitsubishi Rayon Group are key players in this market.
Lucite International, for instance, has created Alpha technology which is a completely new method to make MMA using carbon monoxide and ethylene as raw materials. This technology has greatly improved operating economies as well as reduced capital investment. Strategic initiatives are undertaken by companies to consolidate their positions, which will likely increase investments in product line expansion and capacity expansion.
Attribute |
More Details |
Base year for estimation |
2018 |
Actual estimates/Historical data |
2014 - 2017 |
Forecast period |
2019 - 2025 |
Representation of the market |
Volume in Kilotons, Revenues in USD Millions, and CAGR for 2019-2025 |
Regional scope |
North America, Europe and Asia Pacific, Central & South America. Middle East & Africa. |
Country coverage |
U.S.A., Canada Mexico, U.K. Germany, France Russia, China Japan, Australia, Brazil Argentina Saudi Arabia and UAE |
Report coverage |
Volume and revenue forecast, competitive environment, growth factors, and trends |
15% off customization scope (equivalent of 5 analyst working days). |
We will customize the report to provide you with any additional information that you require. |
This report predicts revenue growth and volume growth at the global, regional and country level. It also provides analysis of industry trends for each sub-segment from 2014 through 2025. Up Market Research has divided the global polymethyl methacrylate industry report by product type, region, and end-use.
Product Type Outlook (Volume of Kilotons; Revenues, USD Millions, 2014-2025)
Extruded sheets
Pellets
Acrylic beads
Other
End-Use Outlook (Volume of Kilotons; Revenues, USD Millions, 2014-2025)
Automotive
Construction
Electronics
Signs and Displays
Other
Regional Outlook (Volume of Kilotons; Revenues, USD Millions, 2014-2025)
North America
The U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Russia
Asia Pacific
China
Japan
India
Australia
Central & South America
Brazil
Argentina
Middle East & Africa
Saudi Arabia
UAE
Up Market Research published a new report titled “Polymethyl Methacrylate Market research report which is segmented by End Use (Signs & Displays, Electronics, Construction, Automotive), by Product Type (Extruded Sheets, Acrylic Beads, Pellets), By Players/Companies Sumitomo Chemical Company Ltd, LG MMA Corp, The Dow Chemical Company, Mitsubishi Rayon Group, Kuraray Group, Polycasa NV Major participants have developed novel manufacturing processes to gain a competitive advantage, Evonik Industries, Chi Mei Corporation, Makevale Group, Shanghai Jing-Qi Polymer Science Co and, Asahi Kasei Corporation”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Polymethyl Methacrylate Market Research Report |
By End Use | Signs & Displays, Electronics, Construction, Automotive |
By Product Type | Extruded Sheets, Acrylic Beads, Pellets |
By Companies | Sumitomo Chemical Company Ltd, LG MMA Corp, The Dow Chemical Company, Mitsubishi Rayon Group, Kuraray Group, Polycasa NV Major participants have developed novel manufacturing processes to gain a competitive advantage, Evonik Industries, Chi Mei Corporation, Makevale Group, Shanghai Jing-Qi Polymer Science Co and, Asahi Kasei Corporation |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 247 |
Number of Tables & Figures | 173 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by End Use (Signs & Displays, Electronics, Construction, Automotive), by Product Type (Extruded Sheets, Acrylic Beads, Pellets).
Polymethyl Methacrylate Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Polymethyl Methacrylate Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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