Polymethyl Methacrylate (PMMA) Market by Grade (General Purpose Grade and Optical Grade), Form (Extruded Sheet, Pellets, Beads, and Others), Application (Signs and Displays, Construction, Automotive, and Others): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 4.7 billion mark in 2022 and is expected to hit US$ 6.7 billion by 2030, recording a CAGR of 5.5% during the forecast period.
Penetration of electric vehicles to drive the polymethyl methacrylate (PMMA) market
Polymethyl methacrylate (PMMA) is extensively used in the automobile industries for manufacturing vehicle body parts and accessories. Hence, shifting automobile manufacturing industries’ focus from using glass to the weather resistant polymethyl methacrylate (PMMA) material is expected to drive the market growth. In addition, rising demand for electric vehicles equipped with high quality acrylic body parts is likely to favor the polymethyl methacrylate material demand globally. Besides, increasing youngsters’ preference for vehicles equipped with optical graded, polymethyl methacrylate-based windows is expected to fuel the optical graded segmental growth.
Within the report, the market is segmented into grade, form, application, and geography. By grade, the market is further segmented into general purpose grade and optical grade. On the basis of form, the market is bifurcated into extruded sheet, pellets, beads, and others. By application, the market is categorized into signs & displays, construction, automotive, and others. Geographically, the market is segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Increasing polymethyl methacrylate materials usage in automobile industry to drive market growth
In comparison to glass-based sheets, polymethyl methacrylate (PMMA) is highly efficient in blocking the UV radiation and sunrays. In addition, the material is extensively used in the customized automotive designs to maintain a pleasant and aesthetic look of a vehicle. These aspects are offering newer avenues to the polymethyl methacrylate (PMMA) market growth. Acrylic sheets are widely used in wall partitions and windows, thereby offering futuristic growth for the polymethyl methacrylate (PMMA) market.
Increasing usage in various industries is accelerating the market growth
The industrial applications of the polymethyl methacrylate (PMMA) material are signs & displays, construction, automotive, electronics, lighting fixtures, and others. Acrylic sheets are extensively used in digital hoardings for the advertisement purposes. Hence, evolving digital advertisement industry is likely to favor the signs and displays segmental growth. In addition, acrylic materials are widely installed on the television set displays to lower the power consumption of the device. These factors are likely to increase the polymethyl methacrylate (PMMA) materials’ demand globally. Construction segment is mainly driven by the increasing civil engineer’s preference toward acrylic sheets. Other industries such as automotive, electronics, lighting fixtures, and others are also supporting the demand for the polymethyl methacrylate (PMMA) material.
Recent strategic developments in polymethyl methacrylate (PMMA) market
The polymethyl methacrylate (PMMA) market has undergone several significant developments, and a few of these have been mentioned below:
- In April 2022, Rohm expanded its production capacities of polymethyl methacrylate (PMMA) by adding a plant of producing impact resistant plexiglas special molding compounds in Germany.
- In June 2021, Trinseo, a global manufacturer of plastics, latex binders, and synthetic rubbers acquired Aristech Surfaces, LLC., an American PMMA manufacturer to expand its business in the North America.
- In December 2020, Trinseo, a global manufacturer of plastics, latex binders, and synthetic rubbers acquired Arkema S.A.’s polymethyl methacrylate’s (PMMA) and activated methyl methacrylate (MMA) manufacturing businesses to build its product portfolio.
The polymethyl methacrylate (PMMA) market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Arkema Group, Asahi Kasei Corporation, Chi Mei Corporation, Evonik Industries AG, GEHR Plastics, Inc. are among the prominent players operating in the market.
Target audience for the report:
- Consumer electronics manufacturers
- Construction firms
- Automotive parts’ manufacturers and suppliers
- Plastic manufacturers and suppliers, construction materials manufacturers and suppliers
- PMMA-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:
- Grade:
- General Purpose Grade
- Optical Grade
- Form:
- Extruded Sheet
- Pellets
- Beads
- Others
- Application:
- Signs and Displays
- Construction
- Automotive
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Arkema Group
- Asahi Kasei Corporation
- Chi Mei Corporation
- Evonik Industries AG
- GEHR Plastics, Inc.
Companies profiled
- Arkema Group
- Asahi Kasei Corporation
- Chi Mei Corporation
- Evonik Industries AG
- GEHR Plastics, Inc.