Polymethyl Methacrylate Market by Form (Extruded Sheet, Cast Acrylic Sheet, Pellets, Beads, and Others), Grade (General Purpose, and Optical grade), End-Use Industry (Construction, Automotive, Electronics, Healthcare, Agriculture, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026687 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed US$ 4.8 billion mark in 2022 and is expected to hit US$ 7.3 billion by 2030, recording a CAGR of 5.5% during the forecast period.

Polymethyl methacrylate market has been significantly growing with the rising penetration of EVs

Polymethyl methacrylate (PMMA) is extensively utilized in the automotive industry, owing to its lightweight and weather-resistant properties. It is utilized in body parts and accessories such as windshields, sun visors, windshields, windscreens, instrument panels, headlamps and rear lights, meter panels, car sculptures, speedometer covers, signal lamps and interior glazing of buses and trains. Moreover, the market has witnessed a shift in consumer preferences toward EVs, changing regulatory scenarios, car rentals and ride sharing. Therefore, the increased demand for automobiles along with growing market of electric vehicles is expected to fuel the polymethyl methacrylate market.

Within the report, the market is segmented into form, grade, end-use industry, and geography. By form, the market is further divided into extruded sheet, cast acrylic sheet, pellets, beads, and others. By grade, the market is further fragmented into general purpose, and optical grade. By end-use industry, the market is further divided into construction, automotive, electronics, healthcare, agriculture, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Growing adoption of bio-based polymethyl methacrylate

Polymethyl methacrylate is manufactured from petrochemical that in turn leads to environmentally corrosive by-products and carbon emissions. However, different biomass and biological processes have been identified to manufacture polymethyl methacrylate, as a result of rising demand of polymethyl methacrylate. Moreover, in order to obtain reduced carbon footprint, bio-based PMMA can be formulated to meet a wide range of property requirements. For instance, Plexiglas Rnew bio-based thermoplastic resin contains higher than 25% bio-renewable content. It has enhanced chemical properties such as better chemical resistance, a radical increase in processability by improved melt flow, high miscibility resulting in transparency, and enhanced weathering and thermal properties. Bio-based polymethyl methacrylate is an alternative sustainable solution for high-performance, non-renewable products. Bio-based PMMA is majorly used in applications requiring durability such as consumer, medical, optical and automotive markets. The technological advancement is expected to boost the growth of the market for bio-based PMMA products over the coming years.

Rising demand from automotive industry

Polymethyl methacrylate is used in automobile industry for various applications such as body components, lamp cover, interior and exterior trim in automotive industry. Increase in penetration of electric vehicles along with preference for lightweight vehicle are few drivers in automobile market. PMMA is a lightweight material and is preferred compared to conventional polymer and other materials due to its high-performance properties. Therefore, changing regulatory scenario and government policies to support EVs is expected to boost the growth of the PMMA market during the forecast period. Automotive is estimated to be the largest end-use industry segment in the PMMA market during the forecast period.

Recent strategic developments in polymethyl methacrylate market

The polymethyl methacrylate market has undergone several significant developments, and a few of these have been mentioned below:

  • In May 2021, Trinseo acquired Arkema’s polymethyl methacrylates (PMMA) business. The acquisition aimed to serve as a catalyst for Trinseo to transform into a high margin and less cyclical solution provider.
  • In September 2021, Trinseo acquired Aristech Surfaces LLC. The acquisition aimed to strengthen Trinseo’s position in acrylic solutions and broadens company’s product portfolio.

The polymethyl methacrylate market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Mitsubishi Chemical Holdings Corporation, Sumitomo Chemical Co. Ltd., SABIC, LG Chem Ltd. and Trinseo S.A. are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Polymethyl methacrylate end users
  • Polymethyl methacrylate manufacturers
  • Polymethyl methacrylate -related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Form:
    • Extruded sheet
    • Cast acrylic sheet
    • Pellets
    • Beads
    • Others
  • Grade:
    • General purpose
    • Optical grade
  • End-Use Industry:
    • Construction
    • Automotive
    • Electronics
    • Healthcare
    • Agriculture
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Mitsubishi Chemical Holdings Corporation
    • Sumitomo Chemical Co. Ltd.
    • SABICs
    • LG Chem Ltd.
    • Trinseo S.A.

The List of Companies
- Mitsubishi Chemical Holdings Corporation
- Sumitomo Chemical Co. Ltd.
- SABICs
- LG Chem Ltd.
- Trinseo S.A.

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