The global poly methyl methacrylate (PMMA) market was worth US$8080 mn in 2018 and the report suggests that the market will reach US$9420 mn by 2025, registering a sluggish CAGR of 2.2%. This chemical compound has a number of uses in varies industries as it offers excellent durability and heat resistance.
QY Research analysts have published a detailed report of the market, titled “Global Poly Methyl Methacrylate (PMMA) Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application.” The research report offers a comprehensive overview of the market.
Global Poly Methyl Methacrylate (PMMA) Market: Drivers
The poly methyl methacrylate has different uses in different industries as its inherent advantages provide high thermal and chemical resistance, low smoke emission, durability, and excellent abrasion resistance. The primary demand for PMMA is influenced by the rising demand for lightweight vehicles parts to attain fuel-efficiency. The rise of automotive, electronics, construction, and signs and display industries is projected to stoke the demand for poly methyl methacrylate in the near future. The chemical compound has its use in shatterproof windows, illuminated signs, skylights, sanitary ware, and aircraft canopies. The LCD light guide made from PMMA offers better light than the conventional guide panels that increases its market demand.
The deficiency of the raw material for the production of PMMA act as the major restraint for the market growth as it hinders the production growth which creates an impact on global methyl methacrylate market.
Global Poly Methyl Methacrylate (PMMA) Market: Segment Analysis
The global poly methyl methacrylate (PMMA) market is segmented on the basis of type and application. In terms of type, the market is segmented into general PMMA, heat resistant PMMA, and impact resistant PMMA. In terms of application, the market is segmented into construction, photoelectricity, lighting, transportation, and others. Among them, the transportation segment is expected to hold the largest share in the global poly methyl methacrylate market, as lighter vehicle and transportation option are currently in vogue.
Global Poly Methyl Methacrylate (PMMA) Market: Regional Analysis
On the basis of region, the global poly methyl methacrylate (PMMA) market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. Asia Pacific is expected to register the highest revenue in the global poly methyl methacrylate market. The Middle East and Africa is also emerging as a major segment, reports study.
Global Poly Methyl Methacrylate (PMMA) Market: The Key Players
The key players studied in the global poly methyl methacrylate (PMMA) market are Mitsubishi Chemical, Chi Mei, Evonik, Sumitomo Chemical, Arkema, Double Elephant Optical Material, LG MMA, Plaskolite, Kuraray, PTTGM, Asahi Kasei, Zhongmeng Longxin, Shanghai Jingqi, and Lotte MCC.