Synopsis of
Polymethyl Methacrylate (PMMA) Market:
Polymethyl
Methacrylate (PMMA) is a transparent thermoplastic that is widely used as a
lightweight or shatter-resistant substitute for the glass. PMMA or poly (methyl
2‐methyl propanoate) is the polymer of Methyl Methacrylate with chemical
formula C5H8O2) n. It is a clear & colorless polymer available in various
forms such as pellet and sheet and is marketed by various firms under brand
names such as Plexiglas, Acrylite, Perspex, Plazcryl, Acrylplast, Altuglas, and
Lucite, etc. PMMA exhibits superior properties such as excellent scratch
resistance, transparency, and weather resistance. Additionally, mechanical and
optical property degradation caused by UV exposure is minimal with PMMA. Such
characteristics have enabled the PMMA applications in varied end-use industries
such as construction, signs & displays, automotive, and electronics.
Increasing demand for
lightweight automotive components to improve fuel efficiency & reduce
carbon emissions is expected to boost the demand over the forecast period. The
product is extensively used in the automotive applications including
windshields & sun visors, caravan windows, taillights & headlights, and
automotive glazing, among others. Growth in PMMA demand from construction
industry is largely influenced by prevailing macroeconomic conditions and is
subject to vary in different parts of the globe. The rapid increase in the
usage of PMMA in facades is set to uplift market growth, specifically, in
Europe and the Middle East. The rapid development of optoelectronics in terms
of technology and adaptability is a key factor driving PMMA demand. Development
of novel application fields such as panel lighting and the light-guide film is
anticipated to augment growth over the next seven years. Increasing
construction spending in Asia Pacific and the Middle East is further expected
to boost market growth over the forecast period. Countries such as China and
India have witnessed significant capital inflows and development of
public-private partnership programs in the construction industry. Over the past
decade, PMMA Market has witnessed highly volatile phases with brisk
fluctuations in demand. This has been influenced by the ongoing progressions in
end-use industries such as automotive and construction. However, the increasing
penetration of PMMA in a sign and display industry stabilized the demand trend
and is expected to continue benefiting the growth of the PMMA Market over the
forecast period. Increasing focus on sustainable polymers supported by
favorable government regimes is compelling industry participants to shift focus
towards bio-based raw materials. Governments and environmental bodies are
constantly working towards commercializing different bio-based grades of PMMA
in various applications.
Global Key Players:
Ø
Arkema
SA
Ø
Mitsubishi
Rayon Co. Ltd.
Ø
Sumitomo
Chemical Co. Ltd.
Ø
CHI
MEI Corporation
Ø
Evonik
Industries AG
Ø
Kolon
Industries, Inc.
Ø
Polycasa
N.V.
Ø
Saudi
Arabia Basic Industries Corporation
Ø
Asahi
Kasei Corporation
Ø
Gehr
Plastics, Inc.
Ø
Kuraray
Group
Ø
The
Dow Chemical Company
Regional
Analysis:
The Global Polymethyl
Methacrylate (PMMA) Market is categorized into five regions, Asia Pacific,
Europe, Latin America, North America, and the Middle East & Africa. Asia
Pacific region emerged as the leading regional market driven by factors such as
a surge in automotive production coupled with rising construction spending. The
strong growth of LED flat screens sales in countries such as China, India,
Japan, South Korea, Thailand, Indonesia, and Malaysia is touted to remain the
key driving factors for market growth within the region. The rise of smart TV’s
in the recent times has further triggered the consumption of PMMA in the
electronics industry. Over 45% of the televisions shipped globally in 2016 were
smart TVs and is estimated to surpass USD 120 million by 2020.
Europe followed Asia
Pacific in terms of demand for Polymethyl Methacrylate. Strong demand for
glazing and facades in the region is expected to drive regional market growth.
PMMA offers the construction industry long-lasting and superior aesthetics
material choice. UV protection, availability in varied colors, and easy casting
are some of the prominent features driving its usage in the European
construction industry.
Latin America is also
expected to witness above-average growth rate with strong growth of the
construction and automotive industry. With major automotive companies
establishing their respective manufacturing bases in the region, the demand for
PMMA is set to rise at a significant rate. Moreover, the global sports events
such as Rio Olympics, 2016 and upcoming Central America and Caribbean Games is
anticipated to increase the product demand.
Segmentation:
The Global Polymethyl
Methacrylate (PMMA) Market is categorized on the basis of type, application,
and regions. On the basis of type, the market is segmented into extruded
sheets, pellets, cast sheets, and beads. On the basis of the application, the
market is classified into signs & displays, construction, automotive,
electronics, and others. On the basis of the regions, the market is classified
into Asia Pacific, Europe, Latin America, North America, and the Middle East
& Africa.
Companies have
invested heavily in creative and innovative products and continuous development
of prevailing product lines to broaden the current spectrum of applications.
For instance, Evonik Industries AG has come up with ambient illumination in
automotive interiors through usage of PMMA molding compounds that are
developed, especially, of LED applications.
Geographical
Analysis:
The report covers
brief analysis of geographical regions such as North America, Latin America,
Europe, Asia Pacific, and the Middle East & Africa.
Intended Audience
- Polymethyl
Methacrylate (PMMA) Manufacturers
- Traders and
Distributors of Polymethyl Methacrylate (PMMA)
- Production
Process Industries
- Potential
Investors
- Raw Material
Suppliers
- Nationalized
Laboratory
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