Polymethyl Methacrylate (PMMA)Market Research Report: Forecast (2023-2028)
The Global Polymethyl Methacrylate (PMMA) market is projected to grow at a CAGR of around 5.5% during the forecast period, i.e., 2023-28, due to the large-scale applications of this chemical compound in the automotive, construction, and lighting industries, among others. Further, the growing use in biomaterial applications such as bone cement, and lenses, along with in dental implants where the polymer material is used to replace lost tooth roots, would drive the market growth in the forthcoming years.
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Market Dynamics
Global Polymethyl Methacrylate (PMMA) Market Key Driver: Burgeoning Growth of the Electronics & Electric Industry to Positively Impact the Market
The rising demand for PMMA for the manufacturing of electronic equipment displays, LCD screens, mobile phone screens, etc., due to its benefits such as durability, light transmittance, high scratch & impact resistance, etc., has positively contributed to the growth of the market during 2018-22. In addition, the growing disposable income of customers from across the globe is positively impacting the commercial sales of electronic gadgets such as mobile phones, TV & video equipment, etc.
Moreover, the surging demand for electrical & electronic appliances has led to the expansion of manufacturing capabilities. Thus, the growing demand from the electronics & electric industry is expected to create an opportunity for developing more PMMA manufacturing sites in the forecast years.
Leading Companies in Polymethyl Methacrylate (PMMA)Market:
-Trinseo
-LG Chem Ltd.
-Mitsubishi Chemical Holdings Corporation
-Sumitomo Chemical Co. Ltd.
-SABIC
-LG MMA Corporation
-The Dow Chemical Company
-Evonik Performance Materials GmbH
-Kurary Group
-Chi Mei Corporation
-Asahi Kasei Corporation
-Makevale Group
-Polycasa N.V.
-Röhm GmbH
-LOTTE Chemical CORPORATION
-Others
Segmentation of the Industry
The Polymethyl Methacrylate (PMMA)Market is highly fragmented and bifurcates into the following segmentations:
By Type
-Beads
-Resins
-Extruded Sheets
-Acrylic Sheets
By End User
-Building & Construction
–Bathroom & Fittings
–Lighting & Fixtures
–Doors, Windows & Railings
–Others (Furnishing & Decors, etc.)
-Automotive & Transportation
-Consumer Goods (Electronics)
-Paints & Coatings
-Marine
-Packaging
-Others (Visual Communication Tools, Cosmetics, etc.)
- Here, the Buildings & Construction sector captured a considerable market share during the historical period in the Global Polymethyl Methacrylate market
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Regional Landscape
On the geographical front, the Polymethyl Methacrylate (PMMA)Market expands across the following:
By Region
-North America
-South America
-Europe
-Asia Pacific
-Middle East and Africa
- Of all the regions across the globe, North America held a significant share in the market during the historical period due to the presence of leading PMMA manufacturers in the region, such as Trinseo, Ensinger, etc., along with the rising demand for various applications such as auto parts, paints, electrical appliances, etc.
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