Competitive Analysis:
Key companies operating in the Global Polymethyl Methacrylate
(PMMA) Market are Arkema SA (France), Mitsubishi Rayon Co. Ltd. (Japan),
Sumitomo Chemical Co. Ltd. (Japan), CHI MEI Corporation (Taiwan), Evonik
Industries AG (Germany), Kolon Industries, Inc. (South Korea), Polycasa N.V.
(Belgium), Saudi Arabia Basic Industries Corporation (Saudi Arabia), Asahi
Kasei Corporation (Japan), Gehr Plastics, Inc. (U.S.), Kuraray Group (Japan)
and The Dow Chemical Company (U.S.) among others.
Market Overview:
PMMA is formed through block, emulsion or suspension
plymerization of Methacrylic Acid Market. PMMA is a linear thermoplastic
polymer. PMA has a lack of methyl groups on the backbone carbon chain, its long
polymer chains are thinner and smoother and can slide past each other more
easily, so the material becomes softer. It is a linear thermoplastic polymer
and exhibits high material strength.
Key driving factors prevalent in the Global PMMA Market include
increasing automotive sales, expanding electronics industry along with the rise
of signs & display industry. The rising demand for LEDs along with
miniaturization of electronic components is anticipated to propel demand over
the forecast period. Operational alterations in the methacrylate production
concentrated in the past years on consolidation in the European and North
American as well as massive capacity expansion in Asia. PMMA capacity globally
has increased by over 25% in last seven years. However, recovery of global
demand for PMMA molding compounds and semi-finished products is highly
differentiated in the different sectors and regions.
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Market Segmentation:
Globally, PMMA Market is classified on the basis of Type and
Application. The market is categorized into extruded sheets, pellets, cast
sheets, and bead on the basis of type. Extruded sheets emerged as the leading
product segment and accounted for nearly half of the market share in 2016.
Robust demand for the product as high-performance sheets in various end-use
industries is expected to drive market growth. Extruded sheets have also
emerged as the economically viable option due to low production cost.
The rising usage of acrylic beads as a texturing agent for
thermoplastics or coatings is set to further uplift market growth. Acrylic
beads are expected to emerge as the leading type over the forecast period due
to increasing application scope. On the basis of the application, the market is
segmented into signs & displays, construction, automotive, electronics, and
others. PMMA is widely utilized in
internally lighted signs for advertising and directions due to superior
properties such as excellent transmission of visible light. Increasing demand
for telecommunication signs & displays and endoscopy applications to
produce fiber optics made from PMMA due to its uncommon characteristic to
retain a beam of reflected light within surfaces. Rising prominence of
lightweight components in the automotive industry to accomplish fuel-efficiency
is enhancing PMMA consumption in the automotive sector. Automotive glazing has
also emerged as one of the fastest growing applications among manufacturers due
to the high weathering & UV resistance of PMMA.
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