The Polymethyl Methacrylate (PMMA) Market Size was valued at USD 5.14 billion in 2023, and is expected to reach USD 7.71 billion by 2031, and grow at a CAGR of 5.2% over the forecast period 2024-2031.
PMMA (Polymethyl Methacrylate) is a synthetic resin derived from the polymerization of methyl methacrylate. Shatterproof windows, skylights, illuminated signs, and aeroplane canopies are all made of this clear and strong plastic. The report's goal is to examine the current and forecasted trends in the worldwide speciality chemical market, which is predicted to grow in demand. The research offers a thorough examination of the market potential in a variety of industry applications. The study focuses on the opportunities presented by the world's growing economies, so that businesses can strategically develop region-specific plans and obtain a competitive advantage.
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Drivers:
The demand for low-cost, damage-resistant transparent materials is growing.
Increasing demand for automotive, electronics and construction industries.
Restraints:
Requiring high rigidity.
Availability of low-cost substitutes.
Raw materials are in short supply.
Opportunity:
Increasing need for lightweight vehicle components in order to enhance fuel efficiency and minimise CO2 emissions.
Challenge:
To adverse negative environmental impacts.
The key end-use industries in the PMMA market are automotive, construction, and electronics. The COVID-19 pandemic resulted in the closure of manufacturing facilities, decreased demand for oil and gas, and supply chain disruption, all of which contributed to the world economy's downturn in 2020. Due to the shutdown and government actions, automotive production was temporarily halted. New construction projects have been halted or postponed in the construction industry. Furthermore, a global supply chain disruption resulted in a global chip shortage, severely affecting the automobile and electronics industries. Manufacturers of PMMA have gone into a short hiatus. Because of a labour shortage caused by social distancing restrictions, the utilisation rate fell. The pandemic had an impact on product availability, demand, and prices. Due to sluggish growth in the construction, electronics, and automotive markets, PMMA manufacturers saw a drop in revenue. The need for medical and healthcare items has increased as a result of the COVID-19 epidemic, which has aided the expansion of the PMMA market. During the projection period, demand is expected to rise due to a return to normalcy in the global economy, greater immunisation, and the reopening of enterprises.
By Form
Extruded sheet
Cast acrylic sheet
Cell Cast
Solid Surface
Continuous
Composite
Pellets
Beads
Others
By Grade
General purpose grade
Optical grade
By End-use Industry
Automotive
Electronics
Construction
Signs & displays
Sanitary ware
Lighting fixtures
Healthcare
Others
Regional Analysis:
Polymethyl methacrylate (PMMA) is the fastest growing and largest regional market in Asia Pacific. This region's rapid infrastructural development is boosting market growth. Furthermore, the expanding automotive and electronics industries, which are important demand generators, are assisting in the expansion of the PMMA market. The second-largest market segment is Europe. PMMA's environmentally benign properties allow it to comply with regional regulatory laws. The region's thriving automobile industry generates a large amount of demand. Polymethyl methacrylate's application in medical devices, electronics, and other designer goods is also fueling industry expansion.
The market in North America is steadily expanding. The optical and plastic product production industries account for a significant amount of demand. The rapidly expanding automobile and infrastructure industries are also potential demand generators. Acrylic glass is a gradually increasing market in Latin America and the Middle East. Polymethyl methacrylate is in high demand in this region because to the construction sector.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Mitsubishi Rayon Co. Ltd., Polycasa N.V., Gehr Plastics, Inc., Saudi Arabia Basic Industries Corporation, CHI MEI Corporation, Arkema SA, Kuraray Group, Evonik Industries AG, Sumitomo Chemical Co. Ltd., Asahi Kasei Corporation, Kolon Industries Inc., The Dow Chemical Company, and other players.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 5.14 Billion |
| Market Size by 2031 | US$ 7.71 Billion |
| CAGR | CAGR of 5.2% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Form (Extruded sheet, Cast acrylic sheet, Pellets, Beads, Others) • By Grade (General purpose grade, Optical grade) • By End-use Industry (Automotive, Electronics, Construction, Signs & displays, Sanitary ware, Lighting fixtures, Healthcare, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Mitsubishi Rayon Co. Ltd., Polycasa N.V., Gehr Plastics, Inc., Saudi Arabia Basic Industries Corporation, CHI MEI Corporation, Arkema SA, Kuraray Group, Evonik Industries AG, Sumitomo Chemical Co. Ltd., Asahi Kasei Corporation, Kolon Industries Inc., The Dow Chemical Company, and other players. |
| DRIVERS | • The demand for low-cost, damage-resistant transparent materials is growing. • Increasing demand for automotive, electronics and construction industries. |
| Restraints | • Requiring high rigidity. • Availability of low-cost substitutes. • Raw materials are in short supply. |
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: To adverse negative environmental impacts are the challenges faced by the Polymethyl Methacrylate (PMMA) Market.
Ans: Mitsubishi Rayon Co. Ltd. (Japan), Polycasa N.V. (Belgium), Gehr Plastics, Inc. (U.S.), Saudi Arabia Basic Industries Corporation (Saudi Arabia), CHI MEI Corporation (Taiwan), Arkema SA (France), Kuraray Group (Japan), Evonik Industries AG (Germany), Sumitomo Chemical Co. Ltd. (Japan), Asahi Kasei Corporation (Japan), Kolon Industries, Inc. (South Korea) and The Dow Chemical Company (U.S.)
Ans: Requiring high rigidity, Availability of low-cost substitutes and Raw materials are in short supply are the restraints for Polymethyl Methacrylate (PMMA) Market.
Ans: Polymethyl Methacrylate (PMMA) Market Size was valued at USD 5.14 billion in 2023, and is expected to reach USD 7.71 billion by 2031, and grow at a CAGR of 5.2% over the forecast period 2024-2031.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Polymethyl Methacrylate (PMMA) Market Segmentation, By Form
8.1Extruded sheet
8.2Cast acrylic sheet
8.2.1 Cell Cast
8.2.2 Solid Surface
8.2.3 Continuous
8.2.4 Composite
8.3 Pellets
8.4 Beads
8.5 Others
9. Polymethyl Methacrylate (PMMA) Market Segmentation, By Grade
9.1 General purpose grade
9.2 Optical grade
10. Polymethyl Methacrylate (PMMA) Market Segmentation, By End-use Industry
10.1 Automotive
10.2 Electronics
10.3 Construction
10.4 Signs & displays
10.5 Sanitary ware
10.6 Lighting fixtures
10.7 Healthcare
10.8 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profile
12.1 Mitsubishi Rayon Co. Ltd.
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Polycasa N.V.
12.3 Gehr Plastics, Inc.
12.4 Saudi Arabia Basic Industries Corporation
12.5 CHI MEI Corporation
12.6 Arkema SA
12.7 Kuraray Group
12.8 Evonik Industries AG
12.9 Sumitomo Chemical Co. Ltd.
12.10 Asahi Kasei Corporation
12.11 Kolon Industries, Inc.
12..12 The Dow Chemical Company
13 Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
14 Conclusion
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