Pmma Market Report

“The PMMA market value was US$ 4.6 Billion in 2023 and is likely to grow at a decent CAGR of 3.5% in the long run to reach US$ 5.8 Billion in 2030.”

Market Dynamics

Introduction

PMMA, or Polymethyl Methacrylate, is a versatile thermoplastic material commonly used in molding compounds due to its properties, including high transparency, UV stability, and ease of processing. With exceptional clarity, it serves as an effective glass substitute and is highly resistant to UV radiation and outdoor elements. PMMA is widely employed in various applications, including signs & displays, construction (facades, windows, skylights, and others), lighting fixtures, and automotive parts.

The PMMA market is being driven by a growing demand for mobile advertising, which necessitates high-quality transparency and lightweight materials. Additionally, the automotive sector's increased focus on lightweight products to improve fuel efficiency is contributing the market growth. Furthermore, technological advancements in the electronics industry are driving demand for PMMA due to its suitability for innovative applications such as lighting fixtures.

Furthermore, PMMA has its application in many medical applications such as medical devices, protective barriers, and safety gadgets. The pandemic very much intensified the need for such products, due to safety precautions businesses and public spaces introduced PMMA barriers and shields at stores, cafes, and workplaces to stop coronavirus spreading.

 Recent Market JVs, Acquisitions and Expansion:

More companies entering the recycled PMMA market, which intensifies the competition in the market. This can lead to greater innovation as companies strive to differentiate their products and improve quality. A huge number of strategic alliances including M&As, JVs, etc. have been performed over the past few years:

• In October 2024, Trinseo S.A. collaborated with Japan Steel Works Europe GmbH (Germany) for the recycling of PMMA chemicals.
• In June 2024, Trinseo S.A., launched a depolymerization plant in Italy to recycle the PMMA and build the circular economy system.
• In July 2023, SABIC signed a partnership agreement with Plastic Energy (England), A. Siemer-Disposal GmbH (Germany), and Landbell Deutschland (Germany), to recycle used plastics for further use.
• In December 2022, Sumitomo Chemical constructed a new pilot facility for chemical recycling of acrylic resin (polymethyl methacrylate or PMMA) at its Ehime Works in Niihama City, Ehime Prefecture, Japan.
• In May 2021, Trinseo, a global materials manufacturer, bought Arkema’s PMMA business for €1.137 billion which is nearly equal to $ 1.36 billion. Overall, this acquisition helped expand Trinseo’s product range and establish the company as a key player in international markets.

Recent Product Development:

• In March 2024, SABIC launched LNP ELCRES SLX1271SR (Resin) for automotive use, which is scratch-resistant and manufactured from PMMA grade and a blend of PMMA and acrylonitrile styrene acrylate.
• In February 2024, Rohm GmbH produced its product PLEXIGLAS® XT Antimicrobial, an extruded sheet in April this year to fill the need for even more hygienic items.
• In May 2023, Röhm GmbH received the ISCC (International Sustainability and Carbon Certification) PLUS certification for all methyl methacrylate (MMA)- and polymethyl methacrylate (PMMA) products at their largest production site in Worms (Germany).

Market Segments' Analysis

“Construction is expected to remain dominant in the market during the forecast period”.

• The end-use industry of the PMMA market is segmented into automotive, construction, electrical & electronics [consumer electronics and lighting fixtures], sign & display, and others.
• The construction industry dominated the market as PMMA is lightweight to install and requires relatively little structural support. PMMA withstands harsh weather conditions and is UV resistant, thus, can be used in exterior designs PMMA can be recycled within the construction business, being quite relevant for the current environment-saving trends.
• In construction, it is used in constructing parts such as window panels, skylights, sound barriers, facades, and greenhouses, and for waterproofing purposes, given these developments such as urbanization as well as infrastructure development PMMA finds more uses in construction.
• Moreover, the need for materials with more adaptability, and lower density, and the increasing need for materials that lower construction cost while improving aesthetics is likely to fuel market growth.

By Grade Type

“General-purpose grade is expected to capture the larger share of the PMMA market whereas optical grade is the fastest-growing market during the forecast period”.

• The market is segmented into general-purpose PMMA and optical-grade PMMA.
• General-purpose grade is expected to dominate the market due to its wide usage in various applications since it has superior impact, weather resistance, and processing characteristics. This grade has the advantage of high clarity in light transmission that makes the products to have been highly perceived when it comes to transparency such as the display and lighting items.
• General-purpose grades used in corporate furniture, home decor, packaging, etc., have gained strength due to the rising adoption of PMMA in consumer goods.
• Optical grade is expected to have a higher CAGR throughout the forecasted period. This segment has been growing due to the rising need for electronics and healthcare equipment.

By Form Type

“Sheet is expected to remain dominant in the market during the forecast period”.

• The PMMA market in form type is segmented into molding compounds and sheets [extruded sheets and cast sheets].
• Sheets dominated the market in the forecasted period owing to wide usage in the applications signs & displays, construction industry, and electrical & electronics industry.
• Sheet is further segmented into extruded sheets and cast sheets. Extruded sheets hold a major share of the market. Extruded PMMA sheets are generally more affordable to produce than cast sheets, making them an attractive option for a wide range of applications.
• Extruded PMMA sheets offer high-light transmission, making them suitable for applications like skylights, lighting fixtures, and display cases.

Regional Analysis

“Asia-Pacific is expected to remain the largest as well as a fastest-growing market for PMMA during the forecast period”.

• The Asia-Pacific region is the largest due to mammoth manufacturing facilities in countries such as China, Japan, India, Korea, and Australia. China is the world's largest market for MMA and PMMA. China is the largest producer and consumer of electronic goods, including smartphones, tablets, computers, and appliances, creating a substantial demand for materials like PMMA.
• PMMA is predominant in Australia and Japan primarily in architectural applications where clarity and design are important factors in residential, commercial, and various types of structures.
• Some of the major industries that utilize PMMA in the region are building & construction, automotive, and electrical & electronics. Due to the leading manufacturers involved in the production of EVs having located their production facilities in Asia-Pacific, BYD, Tesla, Nissan, and General Motors which in result have boosted the consumption of PMMA. The automotive sector in China is rapidly growing, with PMMA used for components like headlights, taillights, and interior parts.
• Additionally, the presence of major players in the region, such as Röhm, The Mitsubishi Chemical Group, Sumitomo Chemical Co. Ltd, and Wanhua Chemical, are contributing to the growth of the market.

Key Players

The market is highly fragmented with the presence of several players. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The emergence of players inclined towards recycled PMMA portends a more competitive market and this competition can influence production improvements, but at the same time put pressure on pricing and profitability for players already in the field. Engaging in depolymerization technology can help to improve their competitiveness in the market. The following are the key players in the PMMA market. Some of the major players are highly integrated in the market.

Here is the list of the Top Players (Based on Dominance)

• Röhm
• The Mitsubishi Chemical Group
• Trinseo S.A.
• Sumitomo Chemical Co., Ltd
• Schweiter Technologies (3A Composites)
• LG Chem Ltd.
• Chi Mei Corporation
• Lotte Chemical Corporation
• Asahi Kasei Corporation
• Kuraray Co., Ltd.
• Suzhou Shuangxiang Optical Materials Co
• Wanhua Chemical

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The global PMMA market is segmented into the following categories:

PMMA Market, by End-Use Industry Type

• Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Electrical & Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Sign & Displays (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

PMMA Market, by Grade Type

• General-Purpose PMMA (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Optical-Grade PMMA (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

PMMA Market, by Form Type

• Molding Compounds (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Sheets
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Product-Type Analysis: Extruded Sheets and Cast Sheets)

PMMA Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s PMMA market realities and future market possibilities for the forecast period. 
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

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