Polymethyl Methacrylate (PMMA) Market Size to Surpass USD 8.6 Bn by 2030

Tokyo, Sept. 09, 2022 (GLOBE NEWSWIRE) -- The global polymethyl methacrylate (PMMA) market size was valued at USD 5.2 billion in 2021. Due to the retail sector's increasing need such as appealing advertisement alternatives as a result of rapid digitalization, polymethyl methacrylate consumption has expanded for use in illumination, signage, exhibits, and other related applications. Due to the company's obvious advantages, which include strong chemical and temperature protection, sturdiness, minimal smoking emissions, and great damage tolerance, it is used in a variety of industries.

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The substance is being used by companies as shatter-resistant replacements for glass in lit signage, airplane canopy, and panels. Better stiffness, durability, and visibility are provided while being roughly 40% less than glassware. The product complies with strict production and environmental requirements and produces very little smoke while being processed.

The rise of microbially raw resources is a result of the quickly rising demand for environmentally friendly polymers, which is supported by benevolent governmental policies. It is a good substitute for petroleum products and can cut energy use in industrial processes by up to 30%. New industry opportunities are also being opened and improved by expanding expenditures on the creation of such renewable materials.

Regional Snapshots

• The biggest and quickest geographical industry for polymethyl methacrylate (PMMA) is located in the Asia Pacific. This area's quick infrastructure investment is fostering market expansion. The PMMA market is also rising as a result of the expansion of the key demand generators, the electronics, and automotive industries.
• The second-largest economic region is European. PMMA is ideal to adhere to local regulatory laws because of its environmentally friendly characteristics. The region's heavily reliant automotive sector creates a large requirement. The industry is being helped by the usage of the material polymethyl methacrylate for semiconductors, design goods, and healthcare equipment.
• The North American market is expanding at a mediocre rate. The production of plastic products and the optics sector accounts for a significant amount of the market. Additionally, assets that can be sold sources are the expanding automotive and construction industries. The market for acrylics glasses was largely expanding in the Americas and the Middle Eastern. In this location, polymethyl methacrylate is in the growing market because of the building and construction industry.
  
  

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Scope of the Report

Market Dynamics

Drivers

Poly methyl acrylate is widely used in the automotive industry because it is waterproof and lightweight. It is utilized in equipment and body parts for automobiles, such as lamp covers and external and interior trimmings. Along with other exterior lighting fixtures, it is used in headlights, side windows, windshield wipers, windscreens, rear lights, meter panels, wind deflectors, tail light covers, and speedometer needs to cover, and signaling illumination. It is also used as an interior covering in mass transit. Reduced revenues, a shift in consumer preferences toward electric vehicles (EVs), changes to the operating model, a trend favoring rental cars and coasters, a decline in per-capita spending, and economic downturn in various countries have all had an impact on traditional auto manufacturing since 2019. 2020 saw a decline in the automotive market as a result of the COVID-19 outbreak and the ensuing suspension of industrial operations.

Restraints:

There are numerous PMMA substitutes on the market, which is somewhat limiting market expansion. polyvinyl chloride polymers, Polycarbonates, and constructed multiwall films are a few of the replacements that are offered on the market. Because they are environmentally friendly, like substances composed of glass, composite materials are novel synthetic materials that are in demand worldwide. They are commonly utilized because they are affordable, easily available, dependable, and versatile. Both the aerospace and automotive sector employs plastic resin in eyeglasses. They safeguard the eyes from foreign objects getting inside of them. DVDs and other devices that were once constructed of tempered glass are now produced using polyvinyl chloride. Before now, polycarbonates weren't used to create complicated parts. Businesses invested in R&D to increase polycarbonate's tensile strength. As a result, the price of polycarbonate was reduced while also expanding the range of possible applications.

Opportunities

PMMA is created using petroleum-based materials, which results in products that hurt the environment and release carbon dioxide. However, due to the growing need for PMMA, alternate production methods that utilize bioenergy and biochemical processes have been found. The production of a PMMA-producing enzyme has caused the development of microbial PMMA treatments. Organic PMMA can be made to have a range of various qualities in addition to leaving a smaller environmental imprint. Consider the Plexiglas Renew organic thermoplastic polymer from Arkema as an example. Its composition contains more than 25% bio-renewable material, giving it thermosets superior chemical properties.

Challenges

PMMA is widely used for sheets because it is readily available and reasonably priced. But the ecosystem is also negatively impacted. As more people become aware of these negative environmental repercussions, consumption should decrease. These factors make it challenging to expand the PMMA industry. A calculation determined that during manufacturing, one kilogram of acrylic fiber results in the release of around 5.5 kilos of CO2 into the environment. When carbon breakdown in acrylic sheets is exposed to sunlight, carbon dioxide particles split. Carbon dioxide emissions considerably weaken the ozone layer when they do so.

Report highlights

Long-term growth drivers for this polymethyl methacrylate sector include rising pricing for LED television sets and expanding usage as a substitute for glasses in various products. On the other hand, it is projected that the industry under consideration's expansion will be constrained by the cost of manufacturing.

The transportation and automotive industries, which are expected to experience significant growth throughout the projected period, made up the majority of the segment. Growing sanitary awareness and a liking for cosmetics are the main causes of this.

The industry's move to PMMA, principally as a replacement for polycarbonate, is expected to create several growth opportunities during the projected period. It is anticipated that the Asia-Pacific region will dominate the global market. This is mostly due to increased product demand from end-user industries like electrical, automotive, construction, and electronics.

Related Reports

• Polypropylene Compounds Market Research Report 2022 to 2030
• Polyvinyl Chloride (PVC) Market Research Report 2022 to 2030
• Biopolymers Market Research Report 2022 to 2030
  
  

Recent Developments

• In 2021, Trinseo successfully acquires the PMMA business segment from Arkema. PMMA and MMA products, as well as technologies seven and up to seven, were added with the acquisition of Trinseo.
• Trinseo S.A. purchased Aristech Surfaces LLC in 2021. Aristech Technologies was the PMMA continuously casting and surface layer panel maker in North America.
• In 2021, Plaskolite LLC acquired Plazit-Polygal (Israel), a manufacturer of technical thermoset sheets. Plaskolite is expected to purchase the operations and assets of Plazit-Polygal in South America, North America, and Europe.
• In 2021, Rohm GmbH built a factory on the Gulf Coast of the United States that can annually produce 250,000 tonnes of methyl methacrylate.
• Sumitomo Chemicals planned to construct a demonstration facility for recovering acrylic resin in Niihama Town, Japan, in 2021.
• As a result of a joint venture between Mitsubishi Chemical Company and Saudi Basic Industry Organization, a polymethyl methacrylate (PMMA) and methyl methacrylate monomer production plant will open in Saudi Arabia in 2018.
• 2018 saw Plaskolite LLC purchase Covestro's US polycarbonate sheet manufacturing facility. The acquisition is expected to improve the company's performance in the United States.
  
  

Market Segmentation

By Form

• Extruded sheet
• Cast acrylic sheet
  • Cell Cast
  • Solid Surface
  • Continuous
  • Composite
• Pellets
• Beads
• Others
  
  

By Grade

• General purpose grade
• Optical grade

By End-use Industry

• Signs & displays
  • Signage
  • Display boards
  • Point of sale boards
• Construction
  • End-use
    • Residential
    • Multi-Family
    • Commercial
    •  Industrial
  • Type
    • Barriers
      • Shatterproof Glass
      • Noise Barriers
    • Flooring
      • PMMA Resin Flooring
      • High-End Decorative Flooring
    • Paints and Coatings
• Automotive
  • Automotive Part and Accessories
    • Body parts
    • Lamp covers
    • Interior & Exterior trim
  • Vehicle Type
    • Passenger car
    • Light Commercial
    • Heavy Commercial Vehicles
    • Quad/ATV & Side by side
    • Snowmobile
    • Recreational Vehicles
  • Fuel Type
    • ICE vehicles (Petrol, diesel, Other)
    • Electric Vehicles
• Lighting Fixtures
  • Light Guide Panels
  • Solar Equipment
• Electronics
  • Mobile Phones, Tablets, and LCD screens
  • Others
• Marine
  • Type
    • Personal Watercraft
    • Commercial
    • Sport watercraft/Jet Skis
  • By Accessories and Parts
    • Glazing and Windows
    • Consoles
    • Interior Surfacing
    • Sinks
    • Shower Pans
    • Countertops
    • Wall Cladding
    • Outboard Engine Covers
    • Portable Tables
    • Others
• Healthcare
  • Healthcare Devices
  • Furniture
  • Wall Cladding
  • Sanitary ware
  • Others
• Agriculture
  • Glazing/ Windows
  • Agriculture Machinery & Vehicles
• Consumer Goods
  • Exercise Equipment
  • Homeware
  • Others
• Others
  
  

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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