Overview and Scope
The polymethyl methacrylate is used as a substitute for glass in products such as illuminated signs, skylights, shatterproof windows, and aircraft canopies. Polymethyl methacrylate is a synthetic polymer that is hardened at room temperature and has low strength and low toxicity. PMMA is used in various industries, such as automotive, electronics, construction, signs and displays, and sanitary ware.
Sizing and Forecast
The polymethyl methacrylate market size has grown rapidly in recent years. It will grow from <b>$5.6 billion in 2023 to $6.19 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. </b> The growth in the historic period can be attributed to growth in the construction and architectural industries, demand for transparent and lightweight materials, expansion of automotive and transportation applications, development of uv-resistant and weatherable resins, regulatory standards for material safety..
The polymethyl methacrylate market size is expected to see strong growth in the next few years. It will grow to <b>$8.76 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. </b> The growth in the forecast period can be attributed to sustainable and eco-friendly acrylic resin formulations, customized acrylic solutions for specific applications, growth in electric vehicle and ev battery applications, expansion in led and optical devices, increased use in medical implants and prosthetics.. Major trends in the forecast period include bio-based and biodegradable acrylic resins, regulatory compliance in acrylic material safety, nanocomposite and high-impact acrylic materials, smart and self-cleaning acrylic surfaces, collaboration between acrylic and material science.
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Segmentation & Regional Insights
The polymethyl methacrylate market covered in this report is segmented –
1) By Form: Extruded Sheet, Cast Acrylic Sheet, Pellets, Beads
2) By Grade: General Purpose Grade, Optical Grade
3) By End User Industries: Buildings and Construction, Electrical and Electronics, Automotive and Transportation, Signs and Displays, Other End User Industries
<b>Asia-Pacific</b> was the largest region in the polymethyl methacrylate market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the polymethyl methacrylate market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing demand for polymethyl methacrylate (PMMA) in the electronic and automobile industries is contributing to the growth of the polymethyl methacrylate market. PMMA could be synthesized by polymerizing methyl methacrylate monomer. It is scratch-resistant and transparent, so it is used as a replacement for glass in some applications in the industry. PMMA is a lightweight material having a density of half that of glass and is transparent, so that it is being used in car windows, motorcycle windshields, interior, and exterior panels. It is also being used in LCD/LED TV screens, laptops, smartphone displays, and electronic equipment displays. Due to its features, the automobile and electronics have increasingly used PMMA. For instance, the global electronic products market size grew from $948.78 billion in 2020 to $1055.29 billion in 2021 at a compound annual growth rate (CAGR) of 11.2%. Similarly, auto sales hit just over 15 million vehicles in 2021, up 3.4% from 2020. Therefore, increasing demand from the electronics and automobile industries is contributing to the growth of the polymethyl methacrylate market.
Key Industry Players
Major companies operating in the polymethyl methacrylate market include <b> 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, Dow Inc., LG Chem Ltd., Makevale Group, Röhm GmbH, Trinseo S.A., Toray Industries Inc., Plaskolite LLC, Altuglas International, Spartech LLC, Perspex International, Shanghai Jingqi Polymer Science Co. Ltd., Jumei Chemical Co. Ltd., Zhejiang Unipolymer Material Co. Ltd., Guangzhou Jufeng Plastics Co. Ltd., Suzhou Omay Optical Materials Co. Ltd., Jiangsu Juhua Polymer Co. Ltd., Shandong Dongyue Polymer Material Co. Ltd., Shandong Allplace Environmental Protection Technology Co. Ltd., Guangzhou Lianguan Machinery Co. Ltd. </b>
The polymethyl methacrylate market report table of contents includes:
1. Executive Summary
2. Polymethyl Methacrylate Market Characteristics
3. Polymethyl Methacrylate Market Trends And Strategies
4. Polymethyl Methacrylate Market – Macro Economic Scenario
5. Global Polymethyl Methacrylate Market Size and Growth
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26. South America Polymethyl Methacrylate Market
27. Brazil Polymethyl Methacrylate Market
28. Middle East Polymethyl Methacrylate Market
29. Africa Polymethyl Methacrylate Market
30. Polymethyl Methacrylate Market Competitive Landscape And Company Profiles
Top Major Players:
- Arkema SA
- Mitsubishi Rayon Co. Ltd
- Sumitomo Chemical Co. Ltd
- CHI MEI Corporation
- Evonik Industries AG
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