USD 4.8 Billion
Polymethyl Methacrylate Market Size, Share, Growth Analysis, By form(Extruded sheet, Cast acrylic sheet Pellets, Beads and Others), By End user(Buildings and Construction, Electrical and Electronics, Automotive and Transportation, Signs and Displays and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2131 |
Region:
Global |
Published Date: July, 2024
Pages:
184
|Tables:
64
|Figures:
75
Polymethyl Methacrylate Market Insights
Global Polymethyl Methacrylate Market size was valued at USD 4.8 Billion in 2022 and is poised to grow from USD 5.06 Billion in 2023 to USD 7.71 Billion by 2031, at a CAGR of 5.40% during the forecast period (2024-2031).
PMMA is a transparent material that outperforms glass in terms of quality. As a result, it is frequently used in place of glasses in a variety of industries. Polymethyl methacrylate was far more durable, easier to make, and less expensive to generate than equivalent compounds. It is used to make a wide range of products, including aquariums, LCD panels, optical glasses, lighting covers, glass windows, vehicle glass, cell phone displays, and aquarium glass. The price of polymethyl methacrylate was increasing on the market as a result of the faster rise of its final sectors. Due to its better eyecare properties, such as great transparency & ultraviolet light protection, PMMA does have a competitive edge. It also complies with stringent environmental safety regulations to be accepted commercially because it is made of reusable plastics.
The rise of bio-based raw materials 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 derivatives and can cut energy use in industrial processes by up to 30%.
New market opportunities are also being opened up by increasing investments in the development of such renewable products. Manufacturing uses a variety of processes, such as emulsion polymerization, suspension polymerization, and bulk polymerization. In recent years, the sector has seen the emergence of a number of breakthrough technologies, and big corporations have invested heavily in research and development to create cutting-edge products that cater to the changing needs of consumers.
US Polymethyl Methacrylate Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Extruded sheet
Fastest Growth
Extruded sheet
Growth Rate
5.40% CAGR
Global Polymethyl Methacrylate Market ($ Bn)
Country Share for Asia-Pacific Region (%)
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Polymethyl Methacrylate Market Segmental Analysis
Polymethyl methacrylate market is segmented based on the form, end user and region. Based on form, polymethyl methacrylate market is segmented into Extruded sheet, Cast acrylic sheet Pellets, Beads and Others. Based on end user, the polymethyl methacrylate market is segmented into Buildings and Construction, Electrical and Electronics, Automotive and Transportation, Signs and Displays and others. Based on region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Polymethyl Methacrylate Market Analysis by Form
Based on form, Extruded films are expected to be the largest and fastest growing PMMA market over the projection duration. Extruded sheets include advantages like optical purity, weather resistance, a lustrous surface, ease of manufacturing, and more. Extruded sheets are additionally more cost-effective than other types. The majority of the market is made up of extruded sheets. It had around 53.5% of the global market volume in 2021 as a result of the increased demand for high-quality sheets across multiple manufacturing industries. These sheets' enhanced breadth flexibility makes them ideal for applications where complex forms are required. Extruded sheets are very economical to produce since they utilize low-cost techniques.
Polymethyl Methacrylate Market Analysis by End-User
Based on end-user, The automotive sector is likely to be the largest segment sector category for the PMMA industry during the anticipated timeline. In the automotive industry, PMMA is used for body parts, headlight covers, and exterior and interior ornamentation. The growing inclination for personal mobility combined with increased EV use is one of the key reasons driving the mobile sector. PMMA is preferred over other materials and traditional polymers because of its superior performance characteristics. Additionally, the material is lightweight. As a result of the evolving regulatory environment and the government's successful implementation of EVs, the PMMA market is estimated to grow over the course of the projected decade.
Global Polymethyl Methacrylate Market By Form
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Polymethyl Methacrylate Market Regional Insights
Asia Pacific has the highest CAGR during the course of the predicted period. The demand for products would ultimately increase due to increased per capita income in countries like China and India. Global firms are making large investments in the area and transferring their manufacturing facilities there to take advantage of the region's exciting possibilities.
The Middle East and Africa are expected to surpass Europe as the second-largest consumers in the upcoming years. The mix of major industry players, regional producers, and a number of active initiatives will certainly improve the market dynamics. A significant portion of the market's potential lies in emerging countries in Central and South America, where the Rio Olympics in Brazil saw a surge in demand for signage and projections (2016). The local industry has grown as a result of the 2018 Middle American and Caribbean Games. Rapid urbanisation, greater R&D activity, and the expansion of international players are the main drivers of this region's growth. PMMA is more in demand as a result of rising building and development activities, rising industry expansion in developing countries like China, India, and Japan, and rising automobile acceptance. The industry's market for polymethyl methacrylate has been further stimulated by the substance's expanding use in the pharmaceutical and electrical industries.
Global Polymethyl Methacrylate Market By Region
- Largest
- Fastest
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Polymethyl Methacrylate Market Dynamics
Polymethyl Methacrylate Market Drivers
Extended Features to Bolster Demand for Polymethyl Methacrylate in Numerous Industries
- The primary growth driver for the polymethyl methacrylate market is the rising need for inexpensive, damage-resistant transparent materials across various sectors. PMMA is in high demand due to the expansion of several end-user industries, particularly the automotive, electronics, and construction sectors. Acrylic glass is used in vehicle glazing, caravan windows, headlights, taillights, and windshields in the automotive industry. Huge demand is created by the developing nations' fast infrastructure expansion. PMMA is used in the infrastructure sector for building design and architectural alteration. The market share of polymethyl methacrylate is growing due to its superior mechanical features over glass, such as scratch resistance, UV light protection, less brittleness, etc. PMMA can also be utilised as a less expensive substitute for polycarbonate to reduce manufacturing costs, which has a competitive advantage. Its ability to be recycled further supports its preference over transparent plastics. As a result, the PMMA has promising market prospects as a material with exceptional qualities that is generally eco-friendly.
Polymethyl Methacrylate Market Restraints
Inability to Endure Stress will Hinder Its Growth during Forecast Period
- PMMA cannot be utilized to make materials with a high requirement for stiffness because it is not a material that can withstand stress. Additionally, compared to another transparent thermoplastic, polycarbonate, it is highly fragile, which restricts the scope of its use. The existence of notch sensitivity and poor heat resistance are further growth inhibitors for the polymethyl methacrylate sector.
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Polymethyl Methacrylate Market Competitive Landscape
Polymethyl methacrylate market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Polymethyl Methacrylate Market Top Player's Company Profiles
- Mitsubishi Chemical Corporation
- Sumitomo Chemical Co., Ltd.
- Evonik Industries AG
- Arkema S.A.
- LG Chem Ltd.
- Chi Mei Corporation
- Kuraray Co., Ltd.
- Asahi Kasei Corporation
- Plaskolite, LLC
- Altuglas International (Arkema Group)
- Shanghai Jingqi Polymer Science Co., Ltd.
- Gevacril GmbH
- 3A Composites GmbH
- Aristech Surfaces LLC
- Spartech LLC
- Perspex International (Lucite International Group)
- PPG Industries, Inc.
- Gehr Plastics, Inc.
- Polycasa N.V.
- Quadrant AG
Polymethyl Methacrylate Market Recent Developments
- In 2021, Trinseo completed the procurement of the PMMA business sector from Arkema. With the acquisition of Trinseo, PMMA, and MMA goods, as well as technologies seven, as well as technologies up to seven were added.
- In 2021, Aristech Surfaces LLC was acquired by Trinseo S.A. The manufacturer of PMMA continuously casting and surface layer panels in North America was Aristech Technologies.
Polymethyl Methacrylate Key Market Trends
- 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 utilise 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. Because it contains more than 25% biodegradable material, it has greater chemical properties than conventional thermosets.
Polymethyl Methacrylate Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our polymethyl methacrylate market analysis, Growing urbanisation, industrialisation, and increased commercial interest globally have all contributed to the growth of the polymethyl methacrylate sector. The construction and building sector has grown as a result of rising living standards and rising disposable money, particularly in emerging economies. Implementing international design standards, growing economic growth, and expanding infrastructure development are all elements encouraging market expansion.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.8 Billion |
| Market size value in 2031 | USD 7.71 Billion |
| Growth Rate | 5.40% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Polymethyl Methacrylate Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Polymethyl Methacrylate Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Polymethyl Methacrylate Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Polymethyl Methacrylate Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Polymethyl Methacrylate Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Polymethyl Methacrylate Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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