Dublin, May 07, 2024 (GLOBE NEWSWIRE) -- The "Methyl Methacrylate (MMA) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Methyl Methacrylate (MMA) Market to Reach $47.3 Billion by 2030
The global market for Methyl Methacrylate (MMA) estimated at US$30.3 Billion in the year 2023, is projected to reach a revised size of US$47.3 Billion by 2030, growing at a CAGR of 6.6% over the analysis period 2023-2030.
Methyl Methacrylate (MMA), a clear, colorless, and sharp organic raw material, drives a growing market primarily fueled by downstream applications. Recent market activity indicates tightening supply and consequent price increases, prompting hope with new capacity additions on the horizon. In 2024, MMA is expected to see competition among global key players.
Building & Construction End-Use, one of the segments analyzed in the report, is expected to record a 7.4% CAGR and reach US$23.1 Billion by the end of the analysis period. Growth in the Automotive End-Use segment is estimated at 6.6% CAGR for the next 7-year period.
Acrylic plastics and resins represent both the largest and fastest-growing application of MMA, with increased adoption across end-use sectors fostering growth in the PMMA market. Additionally, the broadening applications of bio-based PMMA emerge as an eco-friendly alternative, reflecting evolving industry trends.
The U.S. Market is Estimated at $9 Billion, While China is Forecast to Grow at 6.1% CAGR
The Methyl Methacrylate (MMA) market in the U.S. is estimated at US$9 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$8.2 Billion by the year 2030 trailing a CAGR of 6.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6% and 5.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 193 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $30.3 Billion |
| Forecasted Market Value (USD) by 2030 | $47.3 Billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Methyl Methacrylate - Clear, Colorless, Sharp and Organic Raw Material
- Methyl Methacrylate - A Growing Market Driven by Downstream Applications
- Recent Market Activity
- Sizing the Market
- Fast Facts
- MMA Supply Tightens, Prices Shoot Up
- New Capacity Additions On the Anvil Offer Hope
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Methyl Methacrylate (MMA) - Global Key Competitors Percentage Market Share in 2024 (E)
MARKET TRENDS & DRIVERS
- Acrylic Plastics & Resins - The Largest and the Fastest Growing Application of MMA
- Increased Adoption in End-Use Sectors Fosters Growth in PMMA Market
- Broadening Applications of PMMA as a Highly Efficient Molding Compound Fuels Growth
- Bio-Based PMMA Emerge as Eco-Friendly Alternative
- Bio-based PMMA based Acrylic Resin: Potential to Develop Sustainable Solutions for Medical Sector
- PMMA-based Resins Market Going Green
- PMMA to Grab Bigger Share of Automotive Plastics Market
- Signs of Gradual Increase in PMMA Demand and Prices
- Manufacturers Relocate Production to Low-Cost Regions
- Asian Demand and New Applications Bolster PMMA Demand
- Growth Prospects Closely Tied to Global Economic Situation
- Stable Economic Scenario to Augment Market Prospects
- Projected Rise in Vehicle Production to Sustain Demand
- Recovering Construction Industry Benefits Demand for MMA and PMMA
- Building Renovations & Remodeling: A Key Revenue Contributor
- Growing Importance of PMMA Based Signage and Displays Drive MMA Demand
- Applications of MMA in Artificial Nail Products Industry
- Nano-HA Coated Bone Collagen Holds Potential to Improve Mechanical Properties of PMMA Bone Cement
- Advanced Polymeric Materials Present Natural and Effective Options for Building Construction
- Phase Separation Enables Nanotextured Morphology of PMMA UV Curable PUA Blends
- Bio-based Materials Emerge as Better Substitute
- WJ's MMA Technology-based WeatherGrip - A Recent Advancement
- Advancement in Industrial Synthesis of MMA during WAO
FOCUS ON SELECT PLAYERS(Total 37 Featured)
- Akzo Nobel NV
- Arkema Group
- Asahi Kasei Chemicals Corp.
- BASF SE
- Evonik Industries AG
- Formosa Plastics Corp.
- Heilongjiang Zhongmeng Longxin Chemical Co., Ltd.
- Kaohsiung Monomer Company Ltd.
- Kuraray Co., Ltd.
- LG MMA Corp.
- Lotte Chemical Corporation
- Lucite International Ltd.
- Mitsubishi Chemical Corporation
- Mitsubishi Gas Chemical Co., Inc.
- Mitsui Chemicals, Inc
- Shandong Hongxu Chemical Co., Ltd.
- Sumitomo Chemical Co. Ltd.
- Thai MMA Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/3y9xj
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