PMMA Market is Forecasted to Reach US$ 5.8 billion in 2030, Says Stratview Research

Stratview Research, a global market research firm has launched a report on the global PMMA Market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics:

Market Size in 2023: US$ 4.6 billion

Market Size in 2030: US$ 5.8 billion

Growth (CAGR): 3.5% during 2024-2030

Leading End-Use-Industry Type: Construction

Leading Grade Type: General-purpose grade

Leading Form Type: Sheet

Leading Region: Asia-Pacific

Forecast Period: 2024-2030

Trend Period: 2018-2022

Base Year: 2023

Number of Segments Covered: 4

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights on the PMMA Market:

The global PMMA Market is segmented based by end-use industry type, grade type, form type & Region 

Based on end-use industry type: The end-use industry of the PMMA market is segmented into automotive, construction, electrical & electronics [consumer electronics and lighting fixtures], sign & display, and others.

The construction industry dominated the market as PMMA is lightweight to install and requires relatively little structural support. PMMA withstands harsh weather conditions and is UV resistant, thus, can be used in exterior designs PMMA can be recycled within the construction business, being quite relevant for the current environment-saving trends.

In construction, it is used in constructing parts such as window panels, skylights, sound barriers, facades, and greenhouses, and for waterproofing purposes, given these developments such as urbanization as well as infrastructure development PMMA finds more uses in construction.

Moreover, the need for materials with more adaptability, and lower density, and the increasing need for materials that lower construction cost while improving aesthetics is likely to fuel market growth.

Based on grade type: The market is segmented into general-purpose PMMA and optical-grade PMMA. General-purpose grade is expected to dominate the market due to its wide usage in various applications since it has superior impact, weather resistance, and processing characteristics. This grade has the advantage of high clarity in light transmission that makes the products to have been highly perceived when it comes to transparency such as the display and lighting items.

General-purpose grades used in corporate furniture, home decor, packaging, etc., have gained strength due to the rising adoption of PMMA in consumer goods.

Optical grade is expected to have a higher CAGR throughout the forecasted period. This segment has been growing due to the rising need for electronics and healthcare equipment.

Based on form type: The PMMA market in form type is segmented into molding compounds and sheets [extruded sheets and cast sheets].

Sheets dominated the market in the forecasted period owing to wide usage in the applications signs & displays, construction industry, and electrical & electronics industry.

Sheet is further segmented into extruded sheets and cast sheets. Extruded sheets hold a major share of the market. Extruded PMMA sheets are generally more affordable to produce than cast sheets, making them an attractive option for a wide range of applications.

Extruded PMMA sheets offer high-light transmission, making them suitable for applications like skylights, lighting fixtures, and display cases.

To know the most attractive segments, click here for a free sample of the report:

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 Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest as well as a fastest-growing market with the market share of more than 70% during the forecast period. This growth outlook is majorly attributed to the following–

• The Asia-Pacific region is the largest due to mammoth manufacturing facilities in countries such as China, Japan, India, Korea, and Australia. China is the world's largest market for MMA and PMMA. China is the largest producer and consumer of electronic goods, including smartphones, tablets, computers, and appliances, creating a substantial demand for materials like PMMA.
• PMMA is predominant in Australia and Japan primarily in architectural applications where clarity and design are important factors in residential, commercial, and various types of structures.
• Some of the major industries that utilize PMMA in the region are building & construction, automotive, and electrical & electronics. Due to the leading manufacturers involved in the production of EVs having located their production facilities in Asia-Pacific, BYD, Tesla, Nissan, and General Motors which in result have boosted the consumption of PMMA. The automotive sector in China is rapidly growing, with PMMA used for components like headlights, taillights, and interior parts.
• Additionally, the presence of major players in the region, such as Röhm, The Mitsubishi Chemical Group, Sumitomo Chemical Co. Ltd, and Wanhua Chemical, are contributing to the growth of the market.

PMMA Market Drivers:

• The PMMA market is being driven by a growing demand for mobile advertising, which necessitates high-quality transparency and lightweight materials.
• Additionally, the automotive sector's increased focus on lightweight products to improve fuel efficiency is contributing the market growth.
• Furthermore, technological advancements in the electronics industry are driving demand for PMMA due to its suitability for innovative applications such as lighting fixtures.
• Furthermore, PMMA has its application in many medical applications such as medical devices, protective barriers, and safety gadgets.
• The pandemic very much intensified the need for such products, due to safety precautions businesses and public spaces introduced PMMA barriers and shields at stores, cafes, and workplaces to stop coronavirus spreading.

Top 10 Companies in the PMMA Market:

Stratview Research has identified the following companies as the top market players:

·      Röhm

·      The Mitsubishi Chemical Group

·      Trinseo S.A.

·      Sumitomo Chemical Co., Ltd

·      Schweiter Technologies (3A Composites)

·      LG Chem Ltd.

·      Chi Mei Corporation

·      Lotte Chemical Corporation

·      Asahi Kasei Corporation

·      Kuraray Co., Ltd.

·      Suzhou Shuangxiang Optical Materials Co.

·      Wanhua Chemical

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the data center liquid cooling market, answering critical questions like

-      How big is the sales opportunity?

-      Which regions offer the best sales opportunities?

-      Which are the most attractive market segments?

-      Which are the top players and their market positioning?

-      How complex is the business environment?

-      What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

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Stratview Research is a global market research and consulting firm that highly specializes in IT & telecom, aerospace & defense, chemicals, and a few other industries.

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