Dublin, Sept. 21, 2023 (GLOBE NEWSWIRE) -- The "Polymethyl Methacrylate Market by Form, Grade, End Use, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global polymethyl methacrylate (PMMA) market, which achieved a market size of US$5.10 billion in 2022, is poised for significant growth, with expectations to reach US$7.03 billion by 2028.
This projected expansion reflects a robust Compound Annual Growth Rate (CAGR) of 5.3% during the period from 2023 to 2028, as reported by [Publisher Name].
Polymethyl methacrylate, commonly known as acrylic glass, is a synthetic resin produced through the free radical polymerization of the monomer methyl methacrylate. It can be processed using various methods such as injection molding, compression molding, and extrusion or casting.
PMMA is cost-effective, transparent, rigid, durable, and highly resistant to ultraviolet (UV) light and weathering. It has low moisture absorption, contributing to dimensional stability. Additionally, PMMA offers advantages such as enhanced light transmission, a wide range of coloring options, improved optical clarity, versatility, and tensile strength.
It is also environmentally friendly, containing no toxic materials or heavy metals that can cause pollution. Consequently, PMMA finds widespread applications in industries such as automotive, construction, electrical and electronics, marine, healthcare, and agriculture.
Polymethyl Methacrylate Market Trends:
The market is experiencing growth due to several key factors, including its increased adoption in the automotive industry for manufacturing automotive parts, its utilization for treating conditions like acne, facial lines, and wrinkles, and rising demand in electronic devices.
- Automotive Sector: PMMA is being increasingly used in the manufacturing of automotive parts, including car indicator covers and panels. This application is a major driver of market growth.
- Construction Industry: PMMA is considered a suitable alternative to glass in various products, such as shatterproof windows, skylights, illuminated signs, and aircraft canopies, contributing to market growth.
- Recyclable and Biocompatible Products: There is a growing demand for recyclable and biocompatible products due to environmental concerns. PMMA meets these requirements, driving its use in various electronic devices like television screens, laptops, and smartphones.
- Healthcare Industry: PMMA is employed in the healthcare sector for joint replacement procedures and treating bone damage, further fueling market growth.
- Cosmetic Industry: The cosmetic industry utilizes PMMA for treating acne, facial lines, and wrinkles, enhancing its market prospects.
Key Market Segmentation:
The market report provides a detailed analysis of key trends in each segment of the global polymethyl methacrylate market, along with forecasts at the global, regional, and country levels for the period from 2023 to 2028. The market is categorized based on form, grade, and end use.
Form Insights:
- Extruded Sheets
- Beads
- Pellets
- Cast Acrylic Sheets
- Others
Grade Insights:
- General Purpose Grade
- Optical Grade
End Use Insights:
- Signs and Displays
- Automotive
- Building and Construction
- Lighting Fixtures
- Electrical and Electronics
- Marine
- Healthcare
- Agriculture
- Consumer Goods
- Others
Regional Insights:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Competitive Landscape:
The report offers a comprehensive analysis of the competitive landscape in the global polymethyl methacrylate market. It includes detailed profiles of major companies, including 3A Composites GmbH (Schweiter Technologies), Chimei Corporation, Kuraray Co. Ltd., Lotte Mcc Corporation (Lotte Chemical Corporation, Mitsubishi Chemical Corporation), Makevale Group, Plaskolite LLC, Rohm GmbH, RTP Company Inc. (Miller Waste Mills Inc.), Saudi Arabia's Basic Industries Corporation (Aramco Chemicals Company), Sumitomo Chemical Co. Ltd., Trinseo, and more.
Key Questions Answered in This Report:
- What was the size of the global polymethyl methacrylate market in 2022?
- What is the expected growth rate of the global polymethyl methacrylate market during 2023-2028?
- What are the key factors driving the global polymethyl methacrylate market?
- How has COVID-19 impacted the global polymethyl methacrylate market?
- What is the breakdown of the global polymethyl methacrylate market based on form?
- What is the most attractive form in the polymethyl methacrylate market?
- What is the breakdown of the global polymethyl methacrylate market based on grade?
- What is the most attractive grade in the polymethyl methacrylate market?
- What is the breakdown of the global polymethyl methacrylate market based on end use?
- What is the most attractive end use in the polymethyl methacrylate market?
- Which regions are key players in the global polymethyl methacrylate market?
- Who are the key players/companies in the global polymethyl methacrylate market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 141 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $5.1 Billion |
| Forecasted Market Value (USD) by 2028 | $7.03 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/xeih2c
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