Global Polymethyl Methacrylate Market

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 2025-2032


Report ID: SQMIG15E2131 | Region: Global | Published Date: July, 2024
Pages: 184 | Tables: 64 | Figures: 75

Polymethyl Methacrylate Market Insights

Polymethyl Methacrylate Market size was valued at USD 5.06 Billion in 2023 and is poised to grow from USD 5.33 Billion in 2024 to USD 8.13 Billion by 2032, growing at a CAGR of 5.40% during the forecast period (2025-2032).

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 Polymethyl Methacrylate 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.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

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).

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. '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'

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 Polymethyl Methacrylate 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.

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.

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.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Polymethyl Methacrylate Market

Report ID: SQMIG15E2131

$5,300
BUY NOW GET FREE SAMPLE