Polymethyl Methacrylate Market Scope
Polymethyl methacrylate (PMMA), which is also known as acrylic, acrylic glass, or plexiglass and can be traded by some names including Crylux, Plexiglas, Acrylite, Lucite, and Perspex among several others. These "transparent thermoplastic" materials are comparatively lightweight than other polymers. Thus this material is primarily used in manufacturing lightweight automobile parts as well as used in manufacturing casting resin, in inks and coatings. It is also used in Ultrathin TV screen and since it is transparent it can act as a perfect replacement to the breakable and expensive glass. PMMA is an economical alternative to polycarbonate (PC) when tensile strength, flexural strength, transparency, polishability, and UV tolerance are more important than impact strength, chemical resistance, and heat resistance. Moreover, it does not contain the potentially harmful bisphenol-A subunits found in polycarbonate. Thus, the Polymethyl Methacrylate market will show significant business growth over the forecasted period.
The market study is being classified by Type (Extruded Sheets, Pellets, Acrylic Beads and Others), by Application (Automotive, Electronics, Construction, Signs & Displays, Sanitaryware, Lighting Fixtures and Others) and major geographies with country level break-up. According to AMA, the Global Polymethyl Methacrylate market is expected to see growth rate of 8.32% and may see market size of USD7624.19 Million by 2023.
The Vendors having a strong hold in the market are Evonik Industries, Mitsubishi Rayon, Sumitomo Chemical Company, The Dow Chemical Company, and Chi Mei Corporation. Research Analyst at AMA predicts that Asian Vendors will contribute to the maximum growth of Global Polymethyl Methacrylate market throughout the predicted period.
Evonik Industries AG (Germany), Mitsubishi Rayon Group (Japan), Sumitomo Chemical Company Ltd. (Japan), The Dow Chemical Company (United States), Chi Mei Corporation (Taiwan), Kuraray Group (Japan), Asahi Kasei Corporation (Japan), LG MMA Corp (South Korea), Makevale Group (United States) and Shanghai Jing-Qi Polymer Science Co (China) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Saudi Basic Industries Corporation (Sabic) (Saudi Arabia), Arkema SA (France), Unigel Plasticos S.A. (Brazil) and Singapore Methyl Methacrylate Pte Ltd (Singapore).
AdvanceMarketAnalytics has segmented the market of Global Polymethyl Methacrylate market by Type, Application and Region.
On the basis of geography, the market of Polymethyl Methacrylate has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Form, the sub-segment i.e. Extruded will boost the Polymethyl Methacrylate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Grade, the sub-segment i.e. Optical will boost the Polymethyl Methacrylate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On March 30, 2017, Ube Industries, Ltd., JSR Corporation, and Mitsubishi Rayon Co., Ltd. have signed a basic agreement to start negotiations on the integration of the ABS resin business of their respective subsidiaries. The integration concerns Techno Polymer Co., Ltd., a wholly-owned subsidiary of JSR, and UMG ABS, Ltd., which is equally owned by Ube Industries (50%) and Mitsubishi Rayon (50%). The details of the basic agreement were announced in the press release dated May 9, 2016.
On May 17, 2019, Evonik has launched VISIOMER Toolbox to make it easier for customers to find the right solution for their application needs. As the pioneer in methacrylate chemistry, Evonik has a standard portfolio that includes more than 40 different specialty monomers, and the ability to customize monomers to their customers’ needs. With such a versatile toolbox to solve any challenge in a broad range of application areas, an online self-service portal. VISIOMER Toolbox is a 24/7 access point to technical support, product recommender and educational materials. Customers can access the new portal by registering on www.visiomertoolbox.evonik.com.
- Introduction to Automotive Glazing Owing to High Weathering and UV Resistance of Polymethyl Methacrylate
- Increasing Adoption of Cast Acrylics and Extruded Sheets
- Increasing Demand for Polymethyl Methacrylate Sheets from Variety of Industries
- Growing Demand for Lightweight Parts in Vehicles to Attain Fuel-Efficiency
- Enhancing Economic Conditions across the Globe May Lead to Improved Purchasing Parity
- Upsurging Usage of Acrylic Beads as a Texturing Agent for Thermoplastics or Coatings
- Polymethyl Methacrylate Are comparatively Show Low Absorbency
- Heat Sensitivity of Acrylic might Stagnate the Demand
- Continuously Changing Raw Material Prices might Create Unstable Business Environment
- Acrylics can me Dissolved in easily Available Nail-Paint Removers (Acetone)
Key Target AudiencePolymethyl Methacrylate Manufacturers, Polymethyl Methacrylate Distributors and Traders, Upstream and Downstream Buyers, Automobile Industry Associations, Government Agencies, Financial Associations and Venture Capitalists and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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