Polymethyl Methacrylate (PMMA) Market - Growth, Trends, and Forecast (2019 - 2024)

SKU ID : INH- 13594983

Publishing Date : 01-Jun-2019

No. of pages : 125

PRICE
4250
8750

  • Market Overview

    The market for polymethyl methacrylate (PMMA) is expected to grow at a CAGR of above 6% during the forecast period of 2019 – 2024. The major factors driving the growth of market studied are increasing demand in the developing economies, and growing usage as a substitute for glass in various products. On the flipside, high production cost serves as one of the restraints for the studied market.

    - The automotive & transportation segment dominated the market in 2018 and is expected to grow during the forecast period with increasing hygiene awareness, and increasing demand for cosmetic products.
    - The market shift towards PMMA as a substitute of polycarbonate is likely to provide opportunities for the studied market during the forecast period.
    - Asia-Pacific dominated the market across the globe due to rising demand from the end-user industries, such as automotive, electrical & electronics, construction, and others.

    Key Market Trends

    Automotive & Transportation Segment to Dominate the Market

    - PMMA is an environment-friendly and 100% recyclable material, which has a high resistance to UV light and exhibits the greatest surface hardness among all the thermoplastics.
    - Besides, PMMA holds extremely long service life, and high light transmission property. Hence, all such characteristics of PMMA makes it extensively popular for use in automotive industry.
    - In vehicles, PMMA sheets finds application in car windows, interior & exterior panels & lighting, motorcycle windshields, instrument covers, spoilers, fenders, and other ancillaries.
    - It facilitates the benefit of design customization for car manufacturers owing to its exceptional formability, pleasant acoustic properties, and excellent surface hardness.
    - The automotive industry has been witnessing strong growth in investment and production in Asia-Pacific countries, such as India, Indonesia, Malaysia, and Thailand.
    - Besides, regions, such as North America and Europe have been investing on innovation & development of cars with efficient and more environment friendly materials. Such practices in the automotive industry are further expected to drive the demand for PMMA in these regions during the forecast period.

    Asia-Pacific Region to Dominate the Market

    - Asia-Pacific region dominated the global market share in 2018. The demand for PMMA is driven by the growing demand from industries, such as automotive & transportation, construction, and electrical & electronics.
    - The governments in countries, such as China, India, Indonesia, and Singapore have been witnessing huge investments in the construction industry, which is likely to increase demand for PMMA in such countries.
    - China currently has numerous airport construction projects, such as Beijing Capital International Airport, Chengdu Shuangliu International Airport, Guangzhou Baiyun International Airport, under development or planning stage. India also have plans to build about 100 airports before 2032.
    - Besides, Indian government has an investment target of USD 120.5 billion for developing 27 industrial clusters, which is expected to boost construction in the country. Similarly Indonesian government planned to invest in construction sector about USD 450 billion by 2021.
    - Asia-Pacific is also witnessing numerous investments by the global automakers, like BMW, Hyundai Motors, and Honda into the automotive industry to increase production, and cater to the increasing automotive demand of the masses in the region.
    - Besides, China has the world’s largest electronics production base. Electronic products, such as smartphones, OLED TVs, tablets, wires, cables, earphones, and so on, have the highest growth in the electronics segment. With increase in the disposable income of middle-class population in the country, and increasing demand for electronic products in the countries importing electronic products from China, the production of electronics has been increasing.
    - In India, the government has also been pushing the growth of electronic industry through initiatives, such as a Phased Manufacturing Programme (PMP) to add more smartphone components under the “Make in India” initiative in order to push the domestic manufacturing of mobile handsets.
    - Hence, all such favorable market trends are expected to drive the demand for PMMA in the region during the forecast period.

    Competitive Landscape

    The polymethyl methacrylate (PMMA) market is a consolidated market, where few players account for significant share of the market demand. Some of the major players are Chi Mei Corporation, Evonik Industries AG, Mitsubishi Chemical Corporation, Sumitomo Chemical Asia Pte Ltd, Arkema, and LOTTE Chemical CORPORATION, amongst others.

    Reasons to Purchase this report:

    - The market estimate (ME) sheet in Excel format
    - Report customization as per the client's requirements
    - 3 months of analyst support

    Frequently Asked Questions



    This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.

    • By product type
    • By End User/Applications
    • By Technology
    • By Region

    The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
    market Reports market Reports