Dublin, March 15, 2022 (GLOBE NEWSWIRE) -- The "Polymethyl Methacrylate (PMMA) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Polymethyl Methacrylate (PMMA) Market to Reach $5.9 Billion by 2026
The global market for Polymethyl Methacrylate (PMMA) estimated at US$4.2 Billion in the year 2020, is projected to reach a revised size of US$5.9 Billion by 2026, growing at a CAGR of 5.9% over the analysis period.
Polymethyl methacrylate (PMMA) market is facing a mixed bag of challenges and opportunities as the COVID-19 pandemic continued to rage on. With the world fighting its biggest public health crisis in history, demand for protective sheets made of PMMA witnessed strong growth to control the spread of COVID-19 infections, as protective shields in hospitals, retail outlets and transport systems.
With applications in personal protection sector witnessing strong improvement growth, most companies shifted production to address the burgeoning demand. At the same time the industry witnessed a decline in demand in various end-use markets including automotive, construction, and electronics.
Extruded Sheets, one of the segments analyzed in the report, is projected to grow at a 6.2% CAGR to reach US$3.4 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pellets segment is readjusted to a revised 5.2% CAGR for the next 7-year period. This segment currently accounts for a 24.7% share of the global Polymethyl Methacrylate (PMMA) market.
Going forwards, increasing demand for protective sheets, recovery in automobile production and construction and other markets is expected to drive PMMA consumption in 2021. However, PMMA consumption is expected to be hindered by possible slowdown in automobile production due to lack of semiconductors and risk of business closures threatened by emergence of new virus strains.
The U.S. Market is Estimated at $634.7 Million in 2021, While China is Forecast to Reach $1.6 Billion by 2026
The Polymethyl Methacrylate (PMMA) market in the U.S. is estimated at US$634.7 Million in the year 2021. The country currently accounts for a 14.64% share in the global market.
China, the world second largest economy, is forecast to reach an estimated market size of US$1.6 Billion in the year 2026 trailing a CAGR of 7.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR while Rest of European market (as defined in the study) will reach US$1.8 Billion by the end of the analysis period.
Recovery in automotive production in the post COVID-19 period is expected to bode well for market growth for MMA and PMMA materials. In the coming years, consumption of acrylic resins is expected to grow led by improvements on the economic front, increased activity in construction and architecture industries, and demand rise from automotive (primarily to improve functionality and to reduce weight) and electronics sectors.
Potential opportunities for PMMA market are immense due to its unique aesthetic features and superior chemical characteristics, which make it a highly valuable material for use in several end-use markets. With demand rising from various industries including signs and displays, electronics, sanitary ware, construction, automotive, and lighting fixtures, many PMMA manufacturers are focusing on increasing their production capacities to meet the growing demand.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022
- Impact on PMMA Market
- PMMA Sheets Assume New Role during COVID-19 Crisis
- Performance Snapshot of Major End-Use Markets
- Automotive Sector
- Construction Sector
- Consumer Appliances
- Electrical & Electronics Equipment
- Polymethyl methacrylate (PMMA): A Prelude
- Material Properties
- General , Optical, and Thermal Properties of Cast Acrylic (PMMA)
- PMMA Applications
- Market Outlook
- Asia-Pacific Remains at the Forefront Driving Huge Demand for PMMA
- MMA Supply Dynamics Impact PMMA Patterns
- Extruded Sheets and Signs & Displays: Primary Segments of PMMA Market
- Competition
- Recent market Activity
2. FOCUS ON SELECT PLAYERS (Total 32 Featured)
- 3A Composites GmbH
- ALBIS Distribution GmbH & Co. KG
- Asahi Kasei Corporation
- Chi Mei Corporation
- GEHR Plastics Inc.
- Heilongjiang Zhongmeng Longxin Chemical Co., Ltd.
- Kuraray Co., Ltd.
- LG Chem Ltd.
- LOTTE Chemical Corporation
- Makevale Group
- Mitsubishi Chemical Corporation
- Nippon Shokubai Co., Ltd.
- RTP Company
- Saudi Basic Industries Corporation
- Sumitomo Chemical Asia Pte Ltd.
- Unigel S.A.
3. MARKET TRENDS & DRIVERS
- Focus Grows on Development of Bio-Based PMMA
- Bio-based PMMA based Acrylic Resin: Potential to Develop Sustainable Solutions for Medical Sector
- Circular PMMA Gains Traction
- Recycling for PMMA Circularity
- Green Plexiglass
- Drive Towards Lighter Vehicles Supports Demand for PMMA
- PMMA Emerging as Effective Alternative to Polycarbonate for Automotive Applications
- Recovery in Automotive Industry Post COVID-19 to Steer Demand
- Robust Outlook for EVs and Growth Prospects
- Recovering Construction Industry Benefits Demand for MMA and PMMA
- New Constructions Offer Significant Opportunities
- Inherent Features Galvanize Acrylic Sheet Demand in Sanitary Ware Industry
- Growing Importance of PMMA Based Signage and Displays Drive Demand for Visual Communications
- Advertising: An Essential Requisite for Corporate/Brand Survival & Existence
- COVID-19 Pandemic Upends the Marketing Landscape
- PMMA Induces New Level of Convenience in Electronic Displays & Monitors
- Slowdown in Aviation Sector Deters Demand for PMMA-based Aircraft Windows & Canopies
- Intriguing Properties Make PMMA to Play Instrumental Role in Medical Applications
- PMMA in Point of Care Diagnostics
- Researchers Explore New Approaches to Make PMMA-based Materials Perfect Option for Dental Applications
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/h1o4ow
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