The global polymethyl methacrylate (PMMA) market size is anticipated to reach USD 8.16 billion by 2025 registering a CAGR of 8.4%
NEW YORK, July 1, 2019 /PRNewswire/ --
Polymethyl Methacrylate Market Size, Share & Trends Analysis Report By Product Type (Extruded Sheets, Pellets, Acrylic Beads), By End Use (Signs & Displays, Construction, Electronics, Automotive), And Segment Forecasts, 2019 - 2025
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The global polymethyl methacrylate (PMMA) market size is anticipated to reach USD 8.16 billion by 2025 registering a CAGR of 8.4%. Escalating demand for Light-Emitting Diode (LED) flat screens in Asia Pacific is projected to propel the market growth over the coming years. The market has shifted its focus toward developing bio-based alternatives to combat raw material price issues. Eco-friendly PMMA is now being developed with the introduction of bio-based raw materials, such as MMA from renewable organic feedstock. This, in turn, is anticipated to provide lucrative growth opportunities for new market entrants.
Extruded sheets are expected to remain the dominant product segment.These sheets have a better tolerance on thickness, typically +/-10%, as compared to cast acrylic sheets.
The product is also expected to witness growth on account of its high transparency that makes it ideal for signs and displays in the advertising sector.North America and Europe are characterized by the presence of leading resin manufacturers and technological capabilities of further processing these resins for end uses.
Asia Pacific is projected to register the highest CAGR of 9.1% from 2019 to 2025 on account of increasing investments in renewable energy infrastructure and commercial projects undertaken in China, India, and Japan.
Further key findings from the study suggest:
• Growing demand for sophisticated infrastructure along with the presence of major automotive Original Equipment Manufacturers (OEMs) is anticipated to boost the demand for acrylic beads
• The signs and displays segment is projected to expand at the highest CAGR of 8.1% owing to increasing demand for commercial billboards, display cabinets, and leaflet dispensers
• New market entrants are actively engaged in the development of novel production technologies to improve process efficiency and reduce operational costs
• Prominent companies in this market include Evonik Industries AG, Mitsubishi Rayon Group, Arkema SA, Kuraray Group, Sumitomo Chemical Company Ltd., The Dow Chemical Company, SABIC, and Asahi Kasei Corporation
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