Westford, USA, Aug. 01, 2023 (GLOBE NEWSWIRE) -- The global Polymethyl Methacrylate market size is expected to reach USD 7.31 billion by 2030 and exhibit a CAGR of 5.4% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing demand for PMMA in various end-use industries such as automotive, construction, electronics, and healthcare, the growing popularity of PMMA as a lightweight and shatter-resistant alternative to glass, rising demand for PMMA in optical applications like lenses and displays, expanding use of PMMA in interior design and furniture, continuous advancements in PMMA production technology and processing techniques, are fueling the market's growth.
According to SkyQuest's latest global research of the Polymethyl Methacrylate market, growing demand for bio-based and sustainable PMMA materials, increasing use of PMMA in 3D printing and additive manufacturing, rising adoption of PMMA in light guide panels for LED lighting applications, development of high-performance and speciality grades of PMMA for niche applications, expanding application scope in the medical and healthcare sector, and the focus on research and development to enhance PMMA properties and explore new applications in emerging industries are the trends that aid in the market's growth.
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Browse in-depth TOC on "Polymethyl Methacrylate Market"
- Pages - 242
- Tables - 64
- Figures -75
Polymethyl methacrylate (PMMA) is a transparent thermoplastic that is made from the monomer methyl methacrylate. It is known by many different names, including acrylic, plexiglass, and lucite. PMMA is a strong, lightweight material that is resistant to chemicals and weathering. It is used in a variety of applications, including acrylic sheets, lighting fixtures, and medical devices.
Prominent Players in Polymethyl Methacrylate Market
- Asahi Kasei
- Mitsubishi Chemical
- LG Chem
- Sumitomo Chemical
- Chi Mei
- Kuraray
- Eastman Chemical
- Formosa Plastics Corporation
- SABIC
- JSR Corporation
- Mitsui Chemicals
- Toray Industries
- Chang Chun Group
- Kaneka Corporation
- RTP Company
- Plaskolite
- Makrolon
- Goodfellow Corporation
- Ming Tai Plastics
- PolyOne Corporation
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 4.8 Billion |
| 2030 Value Projection | 7.31 Billion |
| CAGR | 5.4% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Extruded Sheets Fat Reduction Demand to Grow Substantially in the Forecast Period
Extruded sheets dominate the global online market as they are a common form of PMMA widely used in various applications due to their versatility, ease of processing, and cost-effectiveness. They are used in applications such as signage, displays, glazing, and protective covers.
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Signage & Display are the Leading Application Segment
In terms of application, signage & display is the leading segment due to the increasing investments in advertising and marketing across various sectors. PMMA is widely used in this industry due to its excellent optical clarity, weather resistance, and ease of fabrication, making it a preferred choice for outdoor and indoor signage.
Asia Pacific is the leading Market Due to the Largest Consumers and Producers of PMMA
Region-wise, Asia Pacific is one of the largest growing markets with a huge number of consumers and producers of PMMA. The region's dominance can be attributed to factors such as the presence of a robust manufacturing sector, growing automotive and electronics industries, rapid urbanization, and rising consumer demand for lifestyle products and decorative materials.
A recent report thoroughly analyzes the major players operating within the Polymethyl Methacrylate market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Polymethyl Methacrylate.
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Key Developments in Polymethyl Methacrylate Market
- In January 2023, RTP Company acquired Plas-Tech Industries, a manufacturer of PMMA sheet and rod. This acquisition gave RTP a stronger position in the North American market for PMMA products.
Key Questions Answered in Polymethyl Methacrylate Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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