Polymethyl Methacrylate Market: Introduction
"The Polymethyl Methacrylate Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Polymethyl methacrylate is synthetic resin manufactured from polymerization of methyl methacrylate. Polymethyl methacrylate is rigid plastic and transparent which is primarily utilized in skylights, shatterproof windows, aircraft canopies, and illuminated signs. Polymethyl methacrylate is polymer available in several forms such as sheet and pellet. Polymethyl methacrylate offer superior properties such as superior weather resistance and scratch resistance.
LCD light guide manufactured from polymethyl methacrylate offers brighter light than conventional guide panels. Thus, polymethyl methacrylate is widely utilized in LCD light guide. In addition, polymethyl methacrylate advanced applications in automotive and electronic market also increase its adoption in these end-use industries. Polymethyl methacrylate is utilized in various end-use industries such as electronics, automotive, construction, sanitary ware, signs and displays, etc.
Polymethyl Methacrylate Market: Dynamics
Increasing adoption for polymethyl methacrylate across end-use industries including construction and automotive is a factor estimated to drive the global polymethyl methacrylate market growth. Increasing demand of polymethyl methacrylate from electronics sectors such as mobile phones, tablets, and LCD screens is among additional factor expected to fuel the global market growth in terms of revenue.
In addition, increasing adoption of polymethyl methacrylate across different industries owing to various characteristics such as high thermal and chemical resistance, low smoke emission, excellent abrasion resistance, and durability. In addition, manufacturers are using this product as shatterproof alternative for glass in aircraft canopies, shatterproof of windows, and illuminated signs.
This product is over 40% lighter than that of glass product and offer enhanced toughness, transparency, and rigidity. Moreover, the polymethyl methacrylate processing process emits less smoke, compatible with stringent emission and manufacturing standards, increasing adoption of these products. Additional key factors are expected to drive the target market growth over the forecast period.
However, fluctuating raw material cost is a major factor projected to restraint the global market growth.
Polymethyl Methacrylate Market: Segment Analysis
Among the grade segments, the general purpose grade segment is estimated to register highest revenue share in the global polymethyl methacrylate market, owing to rising demand for plastic products in different end-use industries including automotive, sanitary ware, and signage. The revenue of general purpose grade segment is projected to register highest CAGR.
Among the form segments, the polymethyl methacrylate beads segment is estimated to register moderate revenue share in the global polymethyl methacrylate market. The revenue of polymethyl methacrylate beads segment is projected to register highest CAGR.
Among the application segments, the signs & display segment is expected to register highest revenue share in the global polymethyl methacrylate market. The signs & display segment revenue is anticipated to register fastest CAGR.
Polymethyl Methacrylate Market: Region Analysis
The Asia Pacific market is expected to account for moderate revenue share in the global polymethyl methacrylate market. Moreover, the Asia Pacific market is anticipated to register highest revenue growth, due to high growth in the construction industry and rising need from automotive industry.
Global polymethyl methacrylate market segmentation:
Segmentation by Grade:
- Optical grade
- General purpose grade
Segmentation by Form:
- Extruded sheet
- Cast acrylic sheet
Segmentation by Application:
- Signs & Displays
- Construction (Barriers, Flooring, and Paints & Coatings)
- Automotive (Body Parts and Accessories)
- Electronics (Mobile Phones, Tablets, and LCD Screens)
- Lighting Fixtures (Light Guide Panels and Solar Equipment)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Arkema S.A.
- Evonik Industries AG
- Mitsubishi Rayon Co., Ltd.
- Saudi Arabia Basic Industries Corporation (SABIC)
- Sumitomo Chemical Company, Limited
- Asahi Kasei Corporation
- Chi Mei Corporation
- GEHR Plastics Inc.
- Kolon Industries, Inc.
- Polycasa NV
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