Polymethyl Methacrylate (PMMA) Market Holds US$ 8.6 Bn Potential

The global polymethyl methacrylate market size accounted for US$ 5.2 billion in 2021 and is projected to reach around USD 8.6 billion by 2030, growing at a CAGR of 5.75% from 2022 to 2030.

Due to the retail sector’s increasing need such as appealing advertisement alternatives as a result of rapid digitalization, polymethyl methacrylate consumption has expanded for use in illumination, signage, exhibits, and other related applications. Due to the company’s obvious advantages, which include strong chemical and temperature protection, sturdiness, minimal smoking emissions, and great damage tolerance, it is used in a variety of industries.

The substance is being used by companies as shatter-resistant replacements for glass in lit signage, airplane canopy, and panels. Better stiffness, durability, and visibility are provided while being roughly 40% less than glassware. The product complies with strict production and environmental requirements and produces very little smoke while being processed.

The rise of microbially raw resources is a result of the quickly rising demand for environmentally friendly polymers, which is supported by benevolent governmental policies. It is a good substitute for petroleum products and can cut energy use in industrial processes by up to 30%. New industry opportunities are also being opened and improved by expanding expenditures on the creation of such renewable materials.

 Polymethyl Methacrylate Market Scope

Report highlights

• Long-term growth drivers for this polymethyl methacrylate sector include rising pricing for LED television sets and expanding usage as a substitute for glasses in various products. On the other hand, it is projected that the industry under consideration’s expansion will be constrained by the cost of manufacturing.
• The transportation and automotive industries, which are expected to experience significant growth throughout the projected period, made up the majority of the segment. Growing sanitary awareness and a liking for cosmetics are the main causes of this.
• The industry’s move to PMMA, principally as a replacement for polycarbonate, is expected to create several growth opportunities during the projected period. It is anticipated that the Asia-Pacific region will dominate the global market. This is mostly due to increased product demand from end-user industries like electrical, automotive, construction, and electronics.

What are the Market Dynamics of Polymethyl Methacrylate Market?

Drivers

Poly methyl acrylate is widely used in the automotive industry because it is waterproof and lightweight. It is utilized in equipment and body parts for automobiles, such as lamp covers and external and interior trimmings. Along with other exterior lighting fixtures, it is used in headlights, side windows, windshield wipers, windscreens, rear lights, meter panels, wind deflectors, tail light covers, and speedometer needs to cover, and signaling illumination. It is also used as an interior covering in mass transit.

Reduced revenues, a shift in consumer preferences toward electric vehicles (EVs), changes to the operating model, a trend favoring rental cars and coasters, a decline in per-capita spending, and economic downturn in various countries have all had an impact on traditional auto manufacturing since 2019. 2020 saw a decline in the automotive market as a result of the COVID-19 outbreak and the ensuing suspension of industrial operations.

Restraints:

There are numerous PMMA substitutes on the market, which is somewhat limiting market expansion. polyvinyl chloride polymers, Polycarbonates, and constructed multiwall films are a few of the replacements that are offered on the market. Because they are environmentally friendly, like substances composed of glass, composite materials are novel synthetic materials that are in demand worldwide. They are commonly utilized because they are affordable, easily available, dependable, and versatile.

Both the aerospace and automotive sector employs plastic resin in eyeglasses. They safeguard the eyes from foreign objects getting inside of them. DVDs and other devices that were once constructed of tempered glass are now produced using polyvinyl chloride. Before now, polycarbonates weren’t used to create complicated parts. Businesses invested in R&D to increase polycarbonate’s tensile strength. As a result, the price of polycarbonate was reduced while also expanding the range of possible applications.

Opportunities

PMMA is created using petroleum-based materials, which results in products that hurt the environment and release carbon dioxide. However, due to the growing need for PMMA, alternate production methods that utilize bioenergy and biochemical processes have been found. The production of a PMMA-producing enzyme has caused the development of microbial PMMA treatments.

Organic PMMA can be made to have a range of various qualities in addition to leaving a smaller environmental imprint. Consider the Plexiglas Renew organic thermoplastic polymer from Arkema as an example. Its composition contains more than 25% bio-renewable material, giving it thermosets superior chemical properties.

Challenges

PMMA is widely used for sheets because it is readily available and reasonably priced. But the ecosystem is also negatively impacted. As more people become aware of these negative environmental repercussions, consumption should decrease. These factors make it challenging to expand the PMMA industry.

A calculation determined that during manufacturing, one kilogram of acrylic fiber results in the release of around 5.5 kilos of CO2 into the environment. When carbon breakdown in acrylic sheets is exposed to sunlight, carbon dioxide particles split. Carbon dioxide emissions considerably weaken the ozone layer when they do so.

Also Read: IoT Microcontroller Market to Expand by 12.9% by 2030

Recent Developments

• In 2021, Trinseo successfully acquires the PMMA business segment from Arkema. PMMA and MMA products, as well as technologies seven and up to seven, were added with the acquisition of Trinseo.
• Trinseo S.A. purchased Aristech Surfaces LLC in 2021. Aristech Technologies was the PMMA continuously casting and surface layer panel maker in North America.
• In 2021, Plaskolite LLC acquired Plazit-Polygal (Israel), a manufacturer of technical thermoset sheets. Plaskolite is expected to purchase the operations and assets of Plazit-Polygal in South America, North America, and Europe.
• In 2021, Rohm GmbH built a factory on the Gulf Coast of the United States that can annually produce 250,000 tonnes of methyl methacrylate.
• Sumitomo Chemicals planned to construct a demonstration facility for recovering acrylic resin in Niihama Town, Japan, in 2021.
• As a result of a joint venture between Mitsubishi Chemical Company and Saudi Basic Industry Organization, a polymethyl methacrylate (PMMA) and methyl methacrylate monomer production plant will open in Saudi Arabia in 2018.
• 2018 saw Plaskolite LLC purchase Covestro’s US polycarbonate sheet manufacturing facility. The acquisition is expected to improve the company’s performance in the United States.

Polymethyl Methacrylate Market Players

The report includes the profiles of key polymethyl methacrylate market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information, key development in past five years.

Major companies operating in this area are:

• 3A Composites GmbH
• ALBIS Distribution GmbH & Co. KG
• Arkema SA (France)
• Asahi Kasei Corporation (Japan)
• CHI MEI Corporation (Taiwan)
• Double Elephant Optical Material
• Evonik Industries AG (Germany)
• Gehr Plastics, Inc. (U.S.)
• Heilongjiang Zhongmeng Longxin Chemical Co., Ltd.
• Kolon Industries, Inc. (South Korea)
• Kuraray Co., Ltd (Japan),
• LG Chem Ltd. (South Korea),
• Lotte Chemical Corporation (South Korea),
• Makevale Group
• Mitsubishi Chemical Holdings Corporation (Japan),
• Nippon Shokubai Co., Ltd.
• Plaskolite LLC (US),
• Polycasa N.V. (Belgium)
• PTTGM
• Röhm GmbH (Germany),
• RTP Company
• Saudi Arabia Basic Industries Corporation (Saudi Arabia)
• Shanghai Jingqi
• Sumitomo Chemical Co., Ltd. (Japan),
• The Dow Chemical Company (U.S.)
• Toray Industries, Inc. (Japan),
• Trinseo S.A. (US),
• Unigel S.A.

Market Segmentation

By Form

• Extruded sheet
• Cast acrylic sheet
  • Cell Cast
  • Solid Surface
  • Continuous
  • Composite
• Pellets
• Beads
• Others

By Grade

• General purpose grade
• Optical grade

By End-use Industry

• Signs & displays
  • Signage
  • Display boards
  • Point of sale boards
• Construction
  • End-use
    • Residential
    • Multi-Family
    • Commercial
    •  Industrial
  • Type
    • Barriers
      • Shatterproof Glass
      • Noise Barriers
    • Flooring
      • PMMA Resin Flooring
      • High-End Decorative Flooring
    • Paints and Coatings
• Automotive
  • Automotive Part and Accessories
    • Body parts
    • Lamp covers
    • Interior & Exterior trim
  • Vehicle Type
    • Passenger car
    • Light Commercial
    • Heavy Commercial Vehicles
    • Quad/ATV & Side by side
    • Snowmobile
    • Recreational Vehicles
  • Fuel Type
    • ICE vehicles (Petrol, diesel, Other)
    • Electric Vehicles
• Lighting Fixtures
  • Light Guide Panels
  • Solar Equipment
• Electronics
  • Mobile Phones, Tablets, and LCD screens
  • Others
• Marine
  • Type
    • Personal Watercraft
    • Commercial
    • Sport watercraft/Jet Skis
  • By Accessories and Parts
    • Glazing and Windows
    • Consoles
    • Interior Surfacing
    • Sinks
    • Shower Pans
    • Countertops
    • Wall Cladding
    • Outboard Engine Covers
    • Portable Tables
    • Others
• Healthcare
  • Healthcare Devices
  • Furniture
  • Wall Cladding
  • Sanitary ware
  • Others
• Agriculture
  • Glazing/ Windows
  • Agriculture Machinery & Vehicles
• Consumer Goods
  • Exercise Equipment
  • Homeware
  • Others
• Others

Regional Segmentation

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
• Latin America (Brazil and Rest of Latin America)
• Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Research Methodology

Secondary Research

It involves company databases such as Hoover’s: This assists us to recognize financial information, the structure of the market participants and industry’s competitive landscape.

The secondary research sources referred in the process are as follows:

• Governmental bodies, and organizations creating economic policies
• National and international social welfare institutions
• Company websites, financial reports and SEC filings, broker and investor reports
• Related patent and regulatory databases
• Statistical databases and market reports
• Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to-face interviews, online surveys, and telephonic interviews.

• Means of primary research: Email interactions, telephonic discussions and Questionnaire-based research etc.
• In order to validate our research findings and analysis, we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Why should you invest in this report?

If you are aiming to enter the global polymethyl methacrylate market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for polymethyl methacrylate are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

Download Access to a Free Copy of Our Latest Sample Report@ https://www.precedenceresearch.com/sample/2089

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Email: sales@precedenceresearch.com

Web: https://www.precedenceresearch.com