Synopsis of Polymethyl Methacrylate (PMMA) Market:
Polymethyl Methacrylate (PMMA) is a transparent thermoplastic that is widely used as a lightweight or shatter-resistant substitute for the glass. PMMA or poly (methyl 2‐methyl propanoate) is the polymer of Methyl Methacrylate with chemical formula C5H8O2) n. It is a clear & colorless polymer available in various forms such as pellet and sheet and is marketed by various firms under brand names such as Plexiglas, Acrylite, Perspex, Plazcryl, Acrylplast, Altuglas, and Lucite, etc. PMMA exhibits superior properties such as excellent scratch resistance, transparency, and weather resistance. Additionally, mechanical and optical property degradation caused by UV exposure is minimal with PMMA. Such characteristics have enabled the PMMA applications in varied end-use industries such as construction, signs & displays, automotive, and electronics.
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Increasing demand for lightweight automotive components to improve fuel efficiency & reduce carbon emissions is expected to boost the demand over the forecast period. The product is extensively used in the automotive applications including windshields & sun visors, caravan windows, taillights & headlights, and automotive glazing, among others. Growth in PMMA demand from construction industry is largely influenced by prevailing macroeconomic conditions and is subject to vary in different parts of the globe. The rapid increase in the usage of PMMA in facades is set to uplift market growth, specifically, in Europe and the Middle East. The rapid development of optoelectronics in terms of technology and adaptability is a key factor driving PMMA demand. Development of novel application fields such as panel lighting and the light-guide film is anticipated to augment growth over the next seven years. Increasing construction spending in Asia Pacific and the Middle East is further expected to boost market growth over the forecast period. Countries such as China and India have witnessed significant capital inflows and development of public-private partnership programs in the construction industry. Over the past decade, PMMA Market has witnessed highly volatile phases with brisk fluctuations in demand. This has been influenced by the ongoing progressions in end-use industries such as automotive and construction. However, the increasing penetration of PMMA in a sign and display industry stabilized the demand trend and is expected to continue benefiting the growth of the PMMA Market over the forecast period. Increasing focus on sustainable polymers supported by favorable government regimes is compelling industry participants to shift focus towards bio-based raw materials. Governments and environmental bodies are constantly working towards commercializing different bio-based grades of PMMA in various applications.
Regional Analysis:
The Global Polymethyl Methacrylate (PMMA) Market is categorized into five regions, Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Asia Pacific region emerged as the leading regional market driven by factors such as a surge in automotive production coupled with rising construction spending. The strong growth of LED flat screens sales in countries such as China, India, Japan, South Korea, Thailand, Indonesia, and Malaysia is touted to remain the key driving factors for market growth within the region. The rise of smart TV’s in the recent times has further triggered the consumption of PMMA in the electronics industry. Over 45% of the televisions shipped globally in 2016 were smart TVs and is estimated to surpass USD 120 million by 2020.
Europe followed Asia Pacific in terms of demand for Polymethyl Methacrylate. Strong demand for glazing and facades in the region is expected to drive regional market growth. PMMA offers the construction industry long-lasting and superior aesthetics material choice. UV protection, availability in varied colors, and easy casting are some of the prominent features driving its usage in the European construction industry.
Latin America is also expected to witness above-average growth rate with strong growth of the construction and automotive industry. With major automotive companies establishing their respective manufacturing bases in the region, the demand for PMMA is set to rise at a significant rate. Moreover, the global sports events such as Rio Olympics, 2016 and upcoming Central America and Caribbean Games is anticipated to increase the product demand.
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Segmentation:
The Global Polymethyl Methacrylate (PMMA) Market is categorized on the basis of type, application, and regions. On the basis of type, the market is segmented into extruded sheets, pellets, cast sheets, and beads. On the basis of the application, the market is classified into signs & displays, construction, automotive, electronics, and others. On the basis of the regions, the market is classified into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Key Players:
- Arkema SA
- Mitsubishi Rayon Co. Ltd.
- Sumitomo Chemical Co. Ltd.
- CHI MEI Corporation
- Evonik Industries AG
- Kolon Industries, Inc.
- Polycasa N.V.
- Saudi Arabia Basic Industries Corporation
- Asahi Kasei Corporation
- Gehr Plastics, Inc.
- Kuraray Group
- The Dow Chemical Company
Companies have invested heavily in creative and innovative products and continuous development of prevailing product lines to broaden the current spectrum of applications. For instance, Evonik Industries AG has come up with ambient illumination in automotive interiors through usage of PMMA molding compounds that are developed, especially, of LED applications.
Geographical Analysis:
The report covers brief analysis of geographical regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Intended Audience
- Polymethyl Methacrylate (PMMA) Manufacturers
- Traders and Distributors of Polymethyl Methacrylate (PMMA)
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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