Market Overview
The worldwide market for polymethyl methacrylate is likely to evolve stronger over the forecast period 2016-2023. Increasing digitalization of rural areas drive the requirement for striking promotion options in the retail sector. This leads to surge in polymethyl methacrylate demand in lighting, signs & displays, and similar applications. Additionally, the robust development of key end-use sectors such as automotive and electronics has caused the market to grow globally. Besides, polymethyl methacrylate finds wide application in industries such as fashion and apparel, interiors and furniture, medicine, solar panels, sanitary ware, and healthcare. Furthermore, the market volatility is encouraging several polymethyl methacrylate manufacturers to apply groundbreaking ideas to implement new application possibilities for the worldwide market, such as in the field of wood-acrylic composites or automotive glazing. The favorable properties in PMMA such as durability, high strength, weathering, resistance to chemicals, and ease of processing makes it extremely essential for different industries.
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However, PMMA is a brittle material and is quite weak, a factor that could be predominantly damaging to the market growth. Despite threats, the market is anticipated to grow by leaps and bound owing to many major market players, with respect to growing demands, continuously capitalizing in projects to develop their client base and improve the quality of the products in different parts of the world. Furthermore, the tactical activities such as collaborations and partnerships entered by many players cannot be put off. For instance, Evonik Industries and Ampaglas Plastics Group (South Africa) entered a joint venture in 2012 and founded the joint venture Evonik Acrylics Africa (EAA) for the extrusion of PMMA semi-finished goods.
Global Key Players:
- Saudi Arabia Basic Industries Corporation
- Polycasa N.V.
- Arkema SA
- Asahi Kasei Corporation
- Sumitomo Chemical Co. Ltd.
- Mitsubishi Rayon Co. Ltd.
- Evonik Industries AG
- CHI MEI Corporation
- Gehr Plastics, Inc.
- Kolon Industries, Inc.
- The Dow Chemical Company
- Kuraray Group
Market Segmentation
The global polymethyl methacrylate market has been segmented based on application and type.
By application, the market has been segmented based on displays & signs, electronics, automotive, construction, and others. A wide range of polymethyl methacrylate pipe materials are applied for passive and low energy buildings. Hence, PMMA has become widely indispensable in the construction sector. In construction sector, PMMA finds application in window, door profiles, and door panels. On the other hand, PMMA is extremely suitable for spherical displays as well as large displays, as they boost the visual appeal of the display screens.
By type, the market has been segmented based on pellets, extruded sheets, beads, and cast sheets. The extruded sheets segment is leading among other segments on account of the high demand for high-performance sheets in numerous industrial activities. Besides, exceptional thickness tolerance offered by extruded sheets make them perfect for applications that necessitate complex shapes. Additionally, these sheets are also cost-efficient since they are formed using economical and longer techniques.
Regional Analysis
Geographically, the global market has been segmented into Europe, Asia Pacific, North America, Latin America, and the Middle East & Africa.
Asia Pacific has been leading the global market owing to a striking rise in automotive production coupled with increasing construction spending. The rapid growth of light emitting diode (LED) flat screens sales, mostly in economies such as India, China, South Korea, Japan, Indonesia, Malaysia, and Thailand. Additionally, the increasing adoption of smart TV’s in the past few years has further propelled the consumption of PMMA in the electronics sector. Besides, PMMA manufacturers in the market are developing incessantly by embarking on several projects along with continuous technological upgradation keeping in mind environmental problems. Asia Pacific market has been followed by the Europe market. Increasing demand for facades and glazing in the area is assumed to stimulate the regional market growth. Availability in different colors, easy casting, and UV protection are some of the key features driving its application in the construction industry in Europe.
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