Market Synopsis:
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.
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.
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
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
Obtain Report Details@ https://www.marketresearchfuture.com/reports/polymethyl-methacrylate-pmma-market-4864
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