Dublin, Oct. 03, 2024 (GLOBE NEWSWIRE) -- The "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) - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global Polymethyl Methacrylate (PMMA) market size is projected to grow from USD 5.1 billion in 2024 to USD 6.1 billion by 2029, at a CAGR of 3.4%
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall Polymethyl Methacrylate (PMMA) market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims to help stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
The Polymethyl Methacrylate (PMMA) market is growing due to technological innovations in manufacturing, infrastructure developments, and automotive applications. The demand has been expanding across different sectors like electronics and healthcare, leading to the prominent growth of PMMA.
The product has already seen a matured growth and is still demanded from the construction sector, for making window panels, skylights, canopes, due to its property of impact-resistance. Using PMMA avoids the problem of breakage which can take place in case glass is used. And therefore, it is known as a replacement of glass.
Trinseo S.A. (US), SABIC (Saudi Arabia), Rohm GmbH (Germany), Asahi Kasei Corporation (Japan), Mitsubishi Chemical Group Corporation (Japan), LX MMA (South Korea), and CHIMEI Corporation (Taiwan) and others are covered in the PMMA market.
By Grade, Optical grade to account for fastest growing segment.
Optical grade PMMA is going to dominate the market due to its increasing demand from different end-use sectors which include automobile manufacturers, electronic manufacturers, and construction companies. The lightweight, durability, and excellent optical clarity properties of PMMA are making it ideal for use in these industries.
PMMA is also favored for its versatility and UV resistance, suiting different applications. It is majorly being utilized by the automotive sector as it leads to the manufacturing of lightweight vehicles making it very suitable for use. The electronic industry is also making optical fibers with the use of PMMA as it is a flexible material and is also cost effective.
By Form, Extruded sheet segment to account for major market share.
In 2023, extruded sheets dominated the market of PMMA. Advantages of PMMA sheets include their clarity, high surface quality, ease of maintenance, surface hardness, lightweight nature, and simple fabrication process. Additionally, PMMA is a cost-effective option. These sheets are extruded and come in a variety of colors and finishes, offering design flexibility and meeting aesthetic requirements. This versatility makes them well-suited for decorative applications.
By end-use industry, Electronics segment to account for the fastest market growth during the forecast period.
Electronics segment is expected to growth the fastest in PMMA market because of the growing demand from electronics manufacturing. Due to an overall increase in the demand for electronic products like laptops, smartphones, televisions, tablets, PMMA is in high demand. This is because PMMMA has suitable optical transmittance, is scratch and impact resistant, and also is a good electrical insulator. PMMA is also very resistant to weathering, and UV radiation, making it ideal for long-lasting applications.
By Region, APAC registered the highest growth rate during the forecast period
For PMMA, APAC is the leading area. This is a result of the growing demand from the automotive and construction industries. Construction activity is on the rise in this region's growing economies, such as Thailand, Vietnam, and India. In addition, numerous nations in this region are the producers of well-known automobiles and other vehicles. Moreover, APAC region is one of the largest manufacturing and industrial hubs making it a crucial contributor to the growth of PMMA.
The report provides insights on the following pointers:
- Analysis of key drivers (Demand from automotive, electronics and construction industries), restraints (threat of substitutes of PMMA), opportunities (bio-based PMMA and rising applications in the healthcare sector), and challenges (raw material shortage) influencing the growth of the Polymethyl Methacrylate (PMMA) market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Polymethyl Methacrylate (PMMA) market
- Market Development: Comprehensive information about profitable markets - the report analyses the Polymethyl Methacrylate (PMMA) market across varied regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Polymethyl Methacrylate (PMMA) market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Trinseo S.A. (US), SABIC (Saudi Arabia), Rohm GmbH (Germany), Asahi Kasei Corporation (Japan), Mitsubishi Chemical Group Corporation (Japan), LX MMA (South Korea), and CHIMEI Corporation (Taiwan) among others in the Polymethyl Methacrylate (PMMA) market. The report also helps stakeholders understand the pulse of the Polymethyl Methacrylate (PMMA) market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 344 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $5.1 Billion |
| Forecasted Market Value (USD) by 2029 | $6.1 Billion |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | Global |
Companies Featured
- Trinseo SA
- Asahi Kasei Corporation
- Sabic
- Mitsubishi Chemical Group Corporation
- Lx Mma
- Rohm GmbH
- Kuraray Co. Ltd.
- Sumitomo Chemicals Co. Ltd.
- Chimei Corporation
- Lotte Chemical Corporation
- Plaskolite LLC
- 3A Composites
- Gujarat State Fertilizers & Chemicals Limited (Gsfc)
- Toray Industries Inc.
- Rtp Company
- Verzatec
- Makevale Group Ltd.
- Spartech LLC
- Ineos Group Ltd
- Samyang Corporation
- Go Yen Chemical Industrial Co Ltd
- S.S.B. Polymers
- Gehr Plastics Inc.
- Rabigh Refining and Petrochemical Company
- Cossa Polimeri S.R.L.
For more information about this report visit https://www.researchandmarkets.com/r/q0ycrd
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