The global polymethyl methacrylate market size is anticipated to
reach USD 8.1 billion by 2030, registering a CAGR of 5.3% over the forecast
period, according to a new report by Grand View Research, Inc. The growing
demand for lightweight and high-strength materials in the automotive and construction
industry is propelling the polymethyl methacrylate (PMMA) industry
growth.Polymethyl methacrylate has witnessed a rise in demand from the sign
& displays industry for the manufacturing of sheets, owing to its
attributes including low weight and shatter resistance. PMMA is additionally
considered an alternative to glass used in windows, aquariums, hockey rinks,
and others.
The COVID-19 pandemic had a negative impact on the
market due to the lockdown in the majority of countries. Owing to the vast
spread of the virus, a majority of the manufacturing and production plants were
shut off, which directly impacted the global supply chain. In addition, the ban
on imports and exports caused a shortage of raw materials, therefore,
disrupting manufacturing activities. Mergers & acquisitions, agreements,
R&D activities, and expansions are the key strategies adopted by the
industry participants. For instance, in December 2022, Chevron Phillips
Chemical and QatarEnergy merged to construct an integrated polymer facility on
the U.S. gulf coast.
List of Key Players Polymethyl Methacrylate Market
- HCS Group GmbH
- Dymatic chemicals, Inc.
- Chevron Phillips Chemical Company LLC.
- SK Geo Centric Co. Ltd.
- Lg Chem
- Maruzen PetrochemicalZEON Corp.
- Mitsubishi Chemical Corp.
- CHIMEI
- Asahi Kasei Corp.
- SABIC
- LOTTE MCC Corp.
Related Press Release@: Polymethyl Methacrylate Market Report
Polymethyl Methacrylate MarketReport Highlights
- Based on forms, the extruded sheet segment accounted for the largest
revenue share in 2022 and is expected to further at a steady CAGR over the
forecast period
- This can be attributed to the increase in demand for PMMA-based
extruded sheets in furniture and construction industries, especially for
beautification purposes, as these sheets offer advantages, such as better
maintenance, quality, fabrication; and a wide range of colors
- The general purpose-grade segment led the market in 2022 and will retain
its dominance over the forecast period due to the product’s tensile
strength, low weight, and high demand in the chemical industries
- The signs & displays end-use segment dominated the industry in
2022 and will retain the position over the forecast period
- This is due to the high usage of PMMA-based advertising &
marketing boards, directions signs, and retail & shop signs for public
attention
- North America held the largest share in 2022 while Asia Pacific is
anticipated to expand at a lucrative CAGR over the forecast period
- The APAC market growth is primarily attributed to the rising demand
for eco-friendly materials that can be used in the production of
electronic products, lighting, and healthcare equipment
Request a free sample copy or view report summary: Polymethyl Methacrylate Market Report
Polymethyl Methacrylate Market
Report Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 5,654.2 million |
|
Revenue forecast in 2030 |
USD 8.1 billion |
|
Growth rate |
CAGR of 5.3% from 2023 to 2030 |
|
Base year for estimation |
2022 |
|
Historical data |
2018 - 2021 |
|
Forecast period |
2023 - 2030 |
Polymethyl Methacrylate Market Segmentation
Grand View Research has segmented the global
polymethyl methacrylate market based on form, grade, end-use, and region:
Polymethyl Methacrylate Form (Volume,
Kilotons; Revenue, USD Million, 2018 - 2030)
- Extruded Sheets
- Beads
- Pellets
- Cast Acrylic Sheets
- Others
Polymethyl Methacrylate Grade (Volume,
Kilotons; Revenue, USD Million, 2018 - 2030)
- General Purpose Grade
- Optical Grade
Polymethyl Methacrylate End-use (Volume,
Kilotons; Revenue, USD Million, 2018 - 2030)
- Signs & Displays
- Automotive
- Building & Construction
- Lightning Fixtures
- Electrical & Electronics
- Marine
- Healthcare
- Agriculture
- Consumer Goods
- Others
Polymethyl Methacrylate Regional Outlook (Volume,
Kilotons; Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- The Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Malaysia
- Singapore
- Thailand
- Vietnam
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates (UAE)
- South Africa
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About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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Grand View Research, Inc
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Email: sales@grandviewresearch.com
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