Polymethyl Methacrylate (PMMA) Market Size, Share, Growth, Analysis, Demand by R

Posted by Market Research Future on October 20th, 2021

Competitive Analysis:

Key companies operating in the Global Polymethyl Methacrylate (PMMA) Market are Arkema SA (France), Mitsubishi Rayon Co. Ltd. (Japan), Sumitomo Chemical Co. Ltd. (Japan), CHI MEI Corporation (Taiwan), Evonik Industries AG (Germany), Kolon Industries, Inc. (South Korea), Polycasa N.V. (Belgium), Saudi Arabia Basic Industries Corporation (Saudi Arabia), Asahi Kasei Corporation (Japan), Gehr Plastics, Inc. (U.S.), Kuraray Group (Japan) and The Dow Chemical Company (U.S.) among others.

Market Overview:

PMMA is formed through block, emulsion or suspension plymerization of Methacrylic Acid Market. PMMA is a linear thermoplastic polymer. PMA has a lack of methyl groups on the backbone carbon chain, its long polymer chains are thinner and smoother and can slide past each other more easily, so the material becomes softer. It is a linear thermoplastic polymer and exhibits high material strength.

Key driving factors prevalent in the Global PMMA Market include increasing automotive sales, expanding electronics industry along with the rise of signs & display industry. The rising demand for LEDs along with miniaturization of electronic components is anticipated to propel demand over the forecast period. Operational alterations in the methacrylate production concentrated in the past years on consolidation in the European and North American as well as massive capacity expansion in Asia. PMMA capacity globally has increased by over 25% in last seven years. However, recovery of global demand for PMMA molding compounds and semi-finished products is highly differentiated in the different sectors and regions.

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Market Segmentation:

Globally, PMMA Market is classified on the basis of Type and Application. The market is categorized into extruded sheets, pellets, cast sheets, and bead on the basis of type. Extruded sheets emerged as the leading product segment and accounted for nearly half of the market share in 2016. Robust demand for the product as high-performance sheets in various end-use industries is expected to drive market growth. Extruded sheets have also emerged as the economically viable option due to low production cost.

The rising usage of acrylic beads as a texturing agent for thermoplastics or coatings is set to further uplift market growth. Acrylic beads are expected to emerge as the leading type over the forecast period due to increasing application scope. On the basis of the application, the market is segmented into signs & displays, construction, automotive, electronics, and others. PMMA is widely utilized in internally lighted signs for advertising and directions due to superior properties such as excellent transmission of visible light. Increasing demand for telecommunication signs & displays and endoscopy applications to produce fiber optics made from PMMA due to its uncommon characteristic to retain a beam of reflected light within surfaces. Rising prominence of lightweight components in the automotive industry to accomplish fuel-efficiency is enhancing PMMA consumption in the automotive sector. Automotive glazing has also emerged as one of the fastest growing applications among manufacturers due to the high weathering & UV resistance of PMMA.