Polymethyl Methacrylate (PMMA) Market Overview to 2023:
Polymethyl Methacrylate
(PMMA) is a transparent thermoplastic that is widely used as a lightweight or
shatter-resistant substitute for the glass. PMMA or poly (methyl 2‐methyl
propanoate) is the polymer of Methyl Methacrylate with chemical formula C5H8O2)
n. It is a clear & colorless polymer available in various forms such as
pellet and sheet and is marketed by various firms under brand names such as
Plexiglas, Acrylite, Perspex, Plazcryl, Acrylplast, Altuglas, and Lucite, etc.
PMMA exhibits superior properties such as excellent scratch resistance,
transparency, and weather resistance. Additionally, mechanical and optical
property degradation caused by UV exposure is minimal with PMMA. Such
characteristics have enabled the PMMA applications in varied end-use industries
such as construction, signs & displays, automotive, and electronics.
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However,
PMMA is a weak material and is quite brittle, a fact that could be particularly
damaging to the market growth. Despite threats, the market is set to grow by
leaps and bound due to many major market players, in response to increasing
demands, constantly investing in projects to expand their customer base and
enhance the quality of the products in several parts of the globe. These
players include Asian companies like Chi Mei in Taiwan and China and Mitsubishi
Rayon in Korea. Moreover, the strategic activities such as partnerships and
collaborations entered into by many players cannot be sidelined. For instance,
in 2012, Ampaglas Plastics Group (South Africa) and Evonik Industries entered a
joint venture and founded the joint venture Evonik Acrylics Africa (EAA) for
the extrusion of PMMA semi-finished goods.
Global Key Players:
Ø Arkema SA
Ø Mitsubishi
Rayon Co. Ltd.
Ø Sumitomo
Chemical Co. Ltd.
Ø CHI MEI
Corporation
Ø Evonik
Industries AG
Ø Kolon
Industries, Inc.
Ø Polycasa
N.V.
Ø Saudi
Arabia Basic Industries Corporation
Ø Asahi
Kasei Corporation
Ø Gehr
Plastics, Inc.
Ø Kuraray
Group
Ø The Dow
Chemical Company
Companies have invested heavily in creative and
innovative products and continuous development of prevailing product lines to
broaden the current spectrum of applications. For instance, Evonik Industries
AG has come up with ambient illumination in automotive interiors through usage
of PMMA molding compounds that are developed, especially, of LED applications.
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Regional
Analysis:
The
Global Polymethyl Methacrylate (PMMA) Market is categorized into five regions,
Asia Pacific, Europe, Latin America, North America, and the Middle East &
Africa. Asia Pacific region emerged as the leading regional market driven by
factors such as a surge in automotive production coupled with rising
construction spending. The strong growth of LED flat screens sales in countries
such as China, India, Japan, South Korea, Thailand, Indonesia, and Malaysia is
touted to remain the key driving factors for market growth within the region.
The rise of smart TV’s in the recent times has further triggered the
consumption of PMMA in the electronics industry. Over 45% of the televisions
shipped globally in 2016 were smart TVs and is estimated to surpass USD 120
million by 2020.
Europe followed Asia Pacific in terms of demand for Polymethyl Methacrylate.
Strong demand for glazing and facades in the region is expected to drive
regional market growth. PMMA offers the construction industry long-lasting and
superior aesthetics material choice. UV protection, availability in varied
colors, and easy casting are some of the prominent features driving its usage
in the European construction industry.
Latin
America is also expected to witness above-average growth rate with strong
growth of the construction and automotive industry. With major automotive
companies establishing their respective manufacturing bases in the region, the
demand for PMMA is set to rise at a significant rate. Moreover, the global
sports events such as Rio Olympics, 2016 and upcoming Central America and
Caribbean Games is anticipated to increase the product demand.
Intended Audience
- Polymethyl Methacrylate (PMMA) Manufacturers
- Traders and Distributors of Polymethyl Methacrylate (PMMA)
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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