According to the new market research report, “Polymethyl Methacrylate (PMMA) Market by Grade (General Purpose, Optical), Form(Extruded Sheet, Cast Acrylic Sheet, Pellets, Beads),End-Use Industry(Signs & Displays, Construction, Automotive, Lighting Fixtures, Electronics, Marine, Healthcare) & Region – Global Forecast to 2027″, The PMMA market is projected to grow from USD 4.8 Billion in 2022 to USD 6.3 Billion by 2027, at a CAGR of 5.4% during the forecast period. PMMA market is driven by the rising demand from end-use industries, especially automotive, construction, signs & displays, and electronics. Market growth is expected to be restrained due to the availability of substitutes. Expected recovery of the automotive sector from the COVID-19 pandemic and rising penetration of EVs are expected to offer business opportunities in the forecasted period.
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By Form, Extruded Sheet account for the largest share of the PMMA market
Extruded sheets are produced through a continuous process in which the resin is conveyed in a horizontal chamber comprising rotating screws. The extruded sheets obtained through this process offer superior thickness tolerance, thus making them suitable for applications which require intricate shapes. The sheets are softer than cast acrylic but contain impurities. The extruded sheets offer the advantage of clarity, glossy surface, and weather resistance
By End-use Industry, Construction account for the largest share of the PMMA market
PMMA is utilized in different forms in the building and construction segment. It is used in window frames, furniture, tableware, soundproof walls, greenhouse windows, pool covers, and roofs. PMMA-made products are utilized in architectural and urban development projects (noise barriers and street furniture), contemporary design (shop fittings and furniture), and interior design applications. It is used in waterproofing applications and to make windows, as it provides rigid, lightweight glazing which resists UV degradation. The construction industry in the Asia Pacific region has been witnessing high growth due to an increase in large infrastructure projects; China has also received massive state investments during the past year. These factors are expected to contribute towards the growth of the construction industry, favoring the use of PMMA in various applications.
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The global Polymethyl Methacrylate (PMMA) market is projected to grow from USD 4.8 Billion in 2022 to USD 6.3 Billion by 2027, at a CAGR of 5.4% during the forecast period. Polymethyl Methacrylate (PMMA) is a transparent thermoplastic and impact-resistant substitute for glass. It is highly durable and offers the advantage of chemical and impact resistance. It is lightweight, rigid, and has color versatility. PMMA is used in various end-use industry such as automotive, electronics, construction, signs & displays, lighting fixtures, and others. PMMA is primarily available in general purpose grade and optical grade. General purpose mainly finds its applications in automotive, construction, signage and display, household, lighting fixtures, and furniture, and others. Optical grade provides high brightness and high purity grade, making the screen brighter and cleaner and are utilized in making Light Guide Panels (LGPs), scanners, and others. PMMA properties includes light transmission, UV-stability, surface hardness, lightweight, recyclable, sustainable, and others, owing to which it is gaining traction across several industrial applications. Due to its superior properties and government policies such as European Green Deals, the global PMMA market is expected to grow.
The demand for PMMA is mainly catered to by global players manufacturing these coatings for various end-use industries. Some of the leading companies involved in the manufacturing of PMMA are Röhm GmbH (Germany), ChiMei Corporation (Taiwan), Mitsubishi Chemical Holdings Corporation (Japan), Sumitomo Chemical Co., Ltd. (Japan), SABIC (Saudi Arabia), LG Chem Ltd. (South Korea), Trinseo S.A. (US), Kuraray Co., Ltd (Japan), Kolon Industries Inc. (South Korea), Toray Industries, Inc. (Japan), Lotte Chemical Corporation (South Korea), Plaskolite LLC (US), and others. These companies, along with other regional companies, cater to the demand for PMMA globally.
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Sumitomo Chemical Co., Ltd. is involved in the manufacturing of various chemical products such as basic chemicals, petrochemicals, fertilizers, and other chemical products. The company operates in six business segments—petrochemicals and plastics, energy and functional material sector, IT-related chemical sector, health and crop sciences sector, and pharmaceutical sector. The company group included 935 companies. It has presence in over 66 countries with 135 locations—in East Asia over 18 locations, Asia & Oceania over 26 locations, Middle East & Africa over 4 locations, and 25 locations in the Americas.
Mitsubishi Chemical Holdings Corporation is a Japan-based corporation involved in the functional goods, healthcare, and materials industry. The company works via four main groups, namely, performance products, healthcare, industrial gases, and chemical division. The chemical division caters to the Methyl Methacrylate (MMA) business, petrochemical business, and carbon business. The company manufactures PMMA under the trade name ACRYPET MF. It has a presence in over 15 countries, with total 30 offices. The company has numerous subsidiaries in various regions. The number of subsidiaries in each region is as follows – Europe: 8, Asia: 17, and the Americas: 5. In the year 2006, Mitsubishi Rayon Group announced that one of its subsidiary, Deasan MMA Group, has started the production of Methyl Methacrylate (MMA) monomer and Methacrylic Acid (MAA).Deasan MMA Corp, is a 50:50 joint venture with Honam Petrochemical Corporation established at South Korea. Deasan MMA Corp. started with annual production capacity of 40,000 tons. This provides the organization a comprehensive product line of acrylic products—MMA, MAA, and PMMA.
Rohm GmbH is a manufacturer of methacrylate chemicals. The three segments of the company include methacrylate resins, acrylic products, and Cyplus technologies. The company has 15 production sites and branches present across Germany, China, the US, and Russia. The company sells PMMA under the brand name PLEXIGLAS in Europe, Africa, Asia, and Australia. In the Americas, the company sells PMMA under the tradename ACRYLITE. In August 2019, Evonik Industries sold its methyl methacrylates (MMA) and polymethyl methacrylate (PMMA) business to Advent International, a US private equity firm. The deal was completed in May 2021 and Advent International has rebranded the MMA and PMMA business as Rohm GmbH. Evonik Industries is a specialty chemicals manufacturer.
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