The Global Polymethyl Methacrylate (PMMA)s Market is projected to grow at a CAGR of around 5.5% during the forecast period, i.e., 2023-28. This detailed analysis offers valuable insights into the key growth drivers, geographical dynamics, and emerging trends that are poised to shape the market's trajectory in the coming years.
due to the large-scale applications of this chemical compound in the automotive, construction, and lighting industries, among others. Further, the growing use in biomaterial applications such as bone cement, and lenses, along with in dental implants where the polymer material is used to replace lost tooth roots, would drive the market growth in the forthcoming years.
The growing building & construction activities in the countries such as China, the UAE, Germany, etc., have been positively impacting the demand for door panels, window & door profiles, etc. In addition, the rising international business & leisure travelers worldwide have been igniting the construction activities of commercial buildings such as luxurious hotels, malls, etc.
Furthermore, due to the rising demand for electrical & electronic appliance applications in the regions such as Asia, more companies are looking forward to expanding their polymethyl methacrylate manufacturing capacity to facilitate the requirement for electronic equipment display, etc. For instance:
- In 2022, Röhm announced the expansion of production facilities for PLEXIGLAS molding compounds in Worms (Germany) & Shanghai (China). In addition, the company is also expanding the capacities of impact-resistant PLEXIGLAS, the brand polymethyl methacrylate.
Furthermore, the product is being used as a shatterproof alternative to glass in illuminated signs, aircraft canopies, and shatterproof windows. It is nearly 40% lighter than glass and has higher rigidity, toughness, and transparency. In addition, the product emits negligible amounts of smoke during processing, ensuring that it meets stringent manufacturing and emission standards. Hence, increasing investments in the development of such renewable products are also opening up new market avenues, which benefits the market.
Exploring the Market Dynamics: What’s Driving the Growth of Polymethyl Methacrylate (PMMA) Market?
Burgeoning Growth of the Electronics & Electric Industry to Positively Impact the Market - The rising demand for PMMA for the manufacturing of electronic equipment displays, LCD screens, mobile phone screens, etc., due to its benefits such as durability, light transmittance, high scratch & impact resistance, etc., has positively contributed to the growth of the market during 2018-22. In addition, the growing disposable income of customers from across the globe is positively impacting the commercial sales of electronic gadgets such as mobile phones, TV & video equipment, etc.
Moreover, the surging demand for electrical & electronic appliances has led to the expansion of manufacturing capabilities. Thus, the growing demand from the electronics & electric industry is expected to create an opportunity for developing more PMMA manufacturing sites in the forecast years.
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Key Takeaways from the Market Study:
- Historical Data: 2018-21
- Base Year: 2022
- Forecast Period: 2023-28
- CAGR (2023-2028): 5%
- Key Players to Watch: Trinseo, LG Chem Ltd., Mitsubishi Chemical Holdings Corporation, Sumitomo Chemical Co. Ltd., SABIC, LG MMA Corporation, The Dow Chemical Company, Evonik Performance Materials GmbH, Kurary Group, Chi Mei Corporation, Asahi Kasei Corporation, Makevale Group, Polycasa N.V.), Röhm GmbH, LOTTE Chemical CORPORATION, Others are expected to play a pivotal role in driving market growth through strategic investments, partnerships, and innovation.
Latest News in the Polymethyl Methacrylate (PMMA) Industry:
- 2022: Sumitomo Chemicals Co. Ltd. announced the establishment of a new MMA Division to boost its MMA business, which includes MMA (methyl methacrylate) monomer & acrylic resin (PMMA, polymethyl methacrylate). The newly established division would take charge of strategy formulation & global marketing & sales for the business.
Market Segmentation of Polymethyl Methacrylate (PMMA) Industry
The Polymethyl Methacrylate (PMMA) market is segmented as follows:
- By Type
- Beads
- Resins
- Extruded Sheets
- Acrylic Sheets
According to report , the rechargeable segment holds a larger share of the Global Polymethyl Methacrylate (PMMA) Market mainly due to their lower costs.
- By End User
- Building & Construction
- Bathroom & Fittings
- Lighting & Fixtures
- Doors, Windows & Railings
- Others (Furnishing & Decors, etc.)
- Automotive & Transportation
- Consumer Goods (Electronics)
- Paints & Coatings
- Marine
- Packaging
- Others (Visual Communication Tools, Cosmetics, etc.)
According to reports, offline retail holds the largest market share.
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Polymethyl Methacrylate (PMMA) Market Geographical Analysis
North America
South America
Europe
Middle East & Africa
Asia-Pacific
According to reports, North America holds a prominent share of the Polymethyl Methacrylate (PMMA) Market
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