Polymethyl Methacrylate Market

Polymethyl Methacrylate Market by Form (extruded sheet, cast acrylic sheet, beads and pellets), Application (Sign & Display, Automobile, Construction, Electronics, Lighting & Fixture), Grade, and Region - Global Forecast to 2026

Report Code: AD 2959 Aug, 2021, by marketsandmarkets.com

[266 Pages Report] The PMMA market size is estimated to be USD 4.2 Billion in 2021 and is projected to reach USD 5.6 Billion by 2026, at a CAGR of 5.7%. Polymethyl Methacrylate (PMMA) is a transparent thermoplastic and impact-resistant substitute for glass. It is highly durable and offers the advantage of chemical and impact resistance. It is lightweight, rigid, and has color versatility. PMMA is used in various applications such as automotive, electronics, construction, signs & displays, sanitary ware, and lighting fixtures. It is available in two grades—optical grade and general-purpose grade. Optical grade PMMA is used to make Light Guide Panels (LGPs), as it provides high brightness and high purity grade, making the screen brighter and cleaner. General-purpose is the most common grade that finds applications in automotive, buildings & construction, signage and display, household, lighting fixtures, and furniture, among others.

PMMA is a versatile, recyclable, sustainable, and durable material, owing to which it is gaining traction across several industrial applications. Due to its superior properties and the changing government policies such as European Green Deals, the global market for PMMA is expected to grow.

Polymethyl Methacrylate Market

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COVID-19 pandemic Impact on the Global PMMA market

Due to COVID-19 pandemic, the suspension of manufacturing operation, disruption of supply chain, and declining demand for industrial goods had significant impact on the market. However, due to COVID-19 pandemic, the demand for medical and healthcare goods has risen, which, in turn, support for the growth of PMMA market. Also, due to changing lifestyle and transition of the working class the new normal “work from home” the demand for electronic goods has risen. At the same time, due to panic situation, people stock the hygiene products across the globe that drives the market. However, the end-use industries like sign & display, automobile, construction, lighting fixtures and others were affected by the pandemic.

PMMA market Dynamics

Driver: Expected recovery from the impact of COVID-19 and growing penetration of EVs will drive the market

For automotive applications, Polymethyl Methacrylate is utilized in body parts (including lamp covers and Interior and Exterior Trim) and accessories (including windshields and sun visor). It is used in taillights, windshields, windscreens, side windows, instrument panels, headlamps and rear lights, lenses of exterior lights, meter panels, sun visor, car sculpture, tail lamp cover, speedometer cover, and signal lamp. It is also used as interior glazing in buses and trains. PMMA are used in EVs due to their high-performance characteristics compared to traditional polymer, and other materials. The changing regulatory scenario and government policies to support EVs boost the growth of the PMMA market. During the COVID-19 pandemic, the sale of EVs in Europe increased by 137%, mainly driven by incentives offered under green recovery funds. In terms of sales, Europe has outpaced China and is expected to grow substantially in coming years.

Restraint: Availability of low-cost Substitutes will hamper the market growth

There are several alternatives to PMMA available in the market. The availability of these substitutes in the market is anticipated to restraining the market growth to a certain extent. Some of the substitutes available in the market include Polycarbonates (PC), Polyvinyl Chloride Polymers, Structured Multiwall sheet, among others.

Opportunities: Bio-based PMMA

PMMA synthesized from petrochemicals results in environmentally corrosive by-products and releases carbon emissions. However, due to the importance of PMMA, alternatives utilizing biomass and biological methods have been identified. The outcome has resulted in the production of enzymes capable of synthesizing PMMA hence, results in biobased PMMA solutions

Challenges: Negative Impacts on the Environment

PMMA is highly utilized for sheeting work as they are readily available and cost friendly. However, they also cause adverse negative environmental impacts. These negative environmental impacts ward of consumers and the awareness regarding negative environmental impacts is anticipated to increase in the coming years. These factors pose a challenge to the PMMA industry.

Ecosystem Diagram

Polymethyl Methacrylate Market  by Ecosystem Diagram

PMMA Extruded Sheets accounted for the largest share in 2020

Extruded sheets are estimated to be the largest form of PMMA. This is due to its advantages, which include clarity, good surface quality, range of colors, easy maintenance, surface hardness, lightweight, and easy fabrication.

Sign & display application accounted for the largest share in 2020

Sign & display is estimated to be the largest market for PMMA due to its increasing demand for marketing communications. The range of colors available in PMMA makes it suitable to before used in signs. Similarly, the optical properties of PMMA make it the preferred material for point-of-sale displays. The rising demand for weather-resistant, energy-efficient, and lightweight materials is estimated to fuel the demand for PMMA in sign & display. PMMA is largely used in the manufacture of automotive panels, bumpers, and other molded parts. Furthermore, as PMMA provides clarity and light transmission, it is used in rear and indicator light covers.

APAC is projected to account for the largest share of the PMMA market during the forecast period

APAC is estimated to be the largest market for PMMA and is projected to reach USD 2,903 Million by 2026. The market in the region is primarily driven by the rising demand for durable plastic products from the construction, automotive, and electronics segment segments. The demand for PMMA in the Middle East is expected to increase. It is propelled by the increasing demand for lightweight, durable, and weather-resistant substitute to glass. The rising demand for durable and advanced products in the sign & display, construction, and electronics applications is driving the market for PMMA in the region.

Polymethyl Methacrylate Market  by Region

Key Market Players

The PMMA market comprises major manufacturers such as Asahi Kasei (Japan), Chi Mei Corp. (Taiwan),  Evonik Industries AG (Germany), Mitsubishi Rayon Co., Ltd. (Japan), Saudi Arabia Basic Industries Corporation (Saudi Arabia), and Sumitomo Chemical Co., Ltd. (Japan) are the key players operating in the PMMA s market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the PMMA s market.

Scope of the report

Report Metric

Details

Market size available for years

2019–2026

Base year considered

2020

Forecast period

2021–2026

Forecast units

Value (USD Million) and Volume (Million Square Meter)

Segments covered

By Type, Application, and Region

Geographies covered

North America, Asia Pacific, Europe, South America, and Middle East & Africa

Companies covered

Asahi Kasei (Japan), Chi Mei Corp. (Taiwan), Evonik Industries AG (Germany), Mitsubishi Rayon Co., Ltd. (Japan), Saudi Arabia Basic Industries Corporation (Saudi Arabia), and Sumitomo Chemical Co., Ltd. (Japan) are the top 5 manufacturers are covered in the  PMMA market.

This research report categorizes the  PMMA market based on resin type, backing material, a, and region.

PMMA market, By Form

  • Extruded sheet
  • Cast acrylic sheet
  • Pellets
  • Beads
  • Others

PMMA market, By Grade

  • General purpose grade
  • Optical grade

PMMA market, By Application

  • Signs & displays
    • Signage
    • Display boards
    • Point of sale boards
  • Construction
    • Barriers
      • Shatterproof Glass
      • Noise Barriers
    • Flooring
      • PMMA resin flooring
      • High-end decorative flooring
    • Paints & Coatings
  • Automotive
    • Body Parts
      • Lamp Covers
      • Interior and Exterior Trim
    • Accessories
      • Windshields
      • Sun Visor
  • Electronics
    • Mobile phones, tablets and LCD screens
      • Touch screen
      • Cover panels
      • LCD screens
  • Lighting fixtures
    • Light guide panels
    • Solar equipment
  • Others

PMMA market, By Region

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Recent Developments

  • In 2021. Kuraray is planning to expand its production capacity that includes setting up Isoprene plant in Thailand, Water soluble PVA Film plant in US & Poland, Calgon Carbon new plants in US & Belgium.
  • In Feb 2020, Evonik successfully completed the acquisition of PeroxyChem for USD 640 million. This purchase allows the access of the organization, to new growth prospects because of the purchase, particularly in the market for environmentally friendly disinfectants.
  • In Jan 2020, Aramco purchase a 70% interest in SAUDI Basic Industries Corporation (SABIC) from the Public Investment Fund (PIFF), Saudi Arabia’s sovereign wealth fund, for a total purchase price of USD 69.1 billion.

Frequently Asked Questions (FAQ):

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Table of Contents

1 Introduction 
    1.1. Objectives of the Study
    1.2. Market Definition
           1.2.1. Research Scope: Inclusion and Exclusion
           1.2.2. Market Scope
           1.2.3. Region Covered
           1.2.4. Years Considered for the Study
    1.3. Currency
    1.4. Unit Considered
    1.5. Stakeholders
    1.6. Summary of Changes

2 Research Methodology 
    2.1. Research Data
           2.1.1. Secondary Data
                    2.1.1.1. Critical secondary inputs
                    2.1.1.2. Key Data From Secondary Sources
           2.1.2. Primary Data
                    2.1.2.1. Critical Primary Input
                    2.1.2.2. Key Data From Primary Sources
                    2.1.2.3. Key Industry Insights
                    2.1.2.4. Breakdown of Primary Interviews
                    2.1.2.5. List of participated industry experts
    2.2. Market Size Estimation
           2.2.1. Demand-side: ascertaining the consumption of PMMA in the automotive application
           2.2.2 supply-side: from overall consumption of extruded sheets
    2.3. Data Triangulation
    2.4. Assumptions
    2.5. Limitations

3 Executive Summary 

4 Premium Insights
    4.1. Attractive opportunities in the polymethyl methacrylate (PMMA) market, regional analysis
    4.2. Polymethyl methacrylate (PMMA) market, developing vs developed nations
    4.3. Polymethyl methacrylate (PMMA) market, by application

5 Market Overview
    5.1. Introduction
    5.2. Market Dynamics
           5.2.1. Drivers
           5.2.2. Restraints
           5.2.3. Opportunity
           5.2.4. Challenges
    5.3. Porter’s Five Forces Analysis 
    5.4. Macroeconomic Indicators
    5.5. Value Chain Analysis 
    5.6. Regulatory Landscape
    5.7. Ecosystem Market Map
    5.8. YC, YCC Shift
    5.9. Scenario Analysis of PMMA market
    5.10. Pricing Analysis
    5.11. Adjacent markets 
    5.12. Case Study
    5.13. Patent Analysis
    5.14. Trade Scenario: Key exporting and importing countries
    5.15. Technology Analysis 
    5.16. Forecast Factors and COVID-19 Impact

6 Polymethyl Methacrylate (PMMA) Market, By Grade – Forecast till 2026 (Volume and Value)
    6.17. Introduction
    6.18. General purpose grade
    6.19. Optical grade

7 Polymethyl Methacrylate (PMMA) Market, By Form – Forecast till 2026 (Volume and Value)
    7.1. Introduction
    7.2. Extruded sheet
    7.3. Cast acrylic sheet
    7.4. Pellets
    7.5. Beads

8 Polymethyl Methacrylate (PMMA) Market, By Application – Forecast till 2026 (Volume and Value)
    8.1. Introduction
    8.2. Signs & displays
           8.2.1. Development of infrastructure drives the demand for PMMA
           8.2.2. Signage
           8.2.3. Display boards
           8.2.4. Point of sale boards
    8.3. Construction
           8.3.1. Rise in the global construction output to increase the demand for PMMA
           8.3.2. Barriers
                    8.3.2.1. Shatterproof Glass
                    8.3.2.2. Noise Barriers
           8.3.3. Flooring
                    8.3.3.1. PMMA resin flooring
                    8.3.3.2. High-end decorative flooring
           8.3.4. Paints & Coatings
    8.4. Automotive
           8.4.1. High usage in automotive industry as an alternative to glass
           8.4.2. Body Parts
                    8.4.2.1. Lamp Covers
                    8.4.2.2. Interior and Exterior Trim
           8.4.3. Accessories
                    8.4.3.1. Windshields
                    8.4.3.2. Sun Visor
    8.5. Electronics
           8.5.1. Changing lifestyle has increased the demand for electronics
           8.5.2. Mobile phones, tablets and LCD screens
                    8.5.2.1. Touch screen
                    8.5.2.2. Cover panels
                    8.5.2.3. LCD screens
    8.6. Lighting fixtures
           8.6.1. Rising demand for lighting in vehicles
           8.6.2. Light guide panels
           8.6.3. Solar equipment
    8.7. Others

9 Polymethyl Methacrylate (PMMA) Market, By Region – Forecast till 2026 (Volume and Value)
    9.1. Introduction
    9.1. Asia Pacific
           9.1.1. China
           9.1.2. Japan
           9.1.3. India
           9.1.4. South Korea
           9.1.5. Australia & New Zealand
           9.1.6. Malaysia
           9.1.7. Rest of Asia-Pacific
    9.2. North America
           9.2.1. The US
           9.2.2. Canada
           9.2.3. Mexico
    9.3. Europe
           9.3.1. Germany
           9.3.2. France
           9.3.3. Italy
           9.3.4. The UK
           9.3.5. Spain
           9.3.6. Rest of Europe
    9.4. South America
           9.4.1. Brazil
           9.4.2. Argentina
           9.4.3. Rest of South America
    9.5. Middle East & Africa
           9.5.1. Saudi Arabia
           9.5.2. Iran
           9.5.3. South Africa
           9.5.4. Rest of Middle East & Africa

10 Competitive Landscape 
     10.1. Overview
     10.2. Market Evaluation Framework
     10.3. Market Share 
     10.4. Revenue Analysis of Top Players
     10.5. Key Market Development
             10.5.1. Expansions
             10.5.2. Acquisitions
             10.5.3. New Product launches
     10.6. Company Evaluation Matrix Definition and Methodology 
             10.6.1. Product Footprint
             10.6.2. Star
             10.6.3. Emerging Leader
             10.6.4. Pervasive
     10.7. Start-ups and Small and Medium-Sized Enterprises (SMES) Evaluation Matrix
             10.7.1. Responsive Companies
             10.7.2. Dynamic Companies
             10.7.3. Starting Blocks

11 Company Profiles
(Business Overview, Financial^ & COVID-19 Impact on Business, Products & Services, Key Strategy, Right To Win)
     11.1. Introduction
     11.2. ASAHI KASEI CORPORATION
     11.3. SAUDI ARABIA BASIC INDUSTRIES CORPORATION (SABIC)
     11.4. MITSUBISHI CHEMICAL CORPORATION 
     11.5. LG CHEM
     11.6. KURARAY CO. LTD
     11.7. EVONIK INDUSTRIES AG 
     11.8. KOLON INDUSTRIES, INC.
     11.9. SUMITOMO CHEMICAL CO., LTD
     11.10. TORAY INDUSTRIES INC.
     11.11. LOTTE CHEMICAL CORPORATION
     11.12. GEHR KUNSTOFFWERK GMBH & CO. KG
     11.13. RTP COMPANY
     11.14. UNIGEL S.A.
     11.15. MAKEVALE GROUP
     11.16. PLASKOLITE LLC
     11.17. 3A COMPOSITES HOLDING AG
     11.18. RÖHM GMBH
     11.19. CHI MEI CORPORATION
     11.20. SPARTECH LLC
     11.21. PLAZIT POLYGOL GROUP
     11.22. COSSA POLIMERI S.R.L
     11.23. INEOS GROUP LTD
     11.24. SAMYANG CORPORATION
     11.25. GO YEN CHEMICAL INDUSTRIAL CO LTD
     11.26. CELANESE CORPORATION
     11.27. Parker Chomerics
     11.28. Trinseo S.A.
     11.29. RAIGH REFINING AND PETROCHEMICAL COMPANY
Note:
The above list of key players is indicative will be finalized by identifying most relevant and leading companies during the research
^Financials will be available for stock-listed companies only

The study involved four major activities for estimating the current size of the global PMMA market. Exhaustive secondary research was carried out to collect information on the market, the peer market, and the parent market. The COVID-19 pandemic impact on the demand regarding end-use industries, application areas, and countries was comprehended. The next step was to validate these findings, assumptions and sizes with the industry experts across the supply chain of  PMMA market through primary research. Both the top-down and bottom-up approaches were employed to estimate the overall size of the PMMA market. After that, market breakdown and data triangulation procedures were used to determine the size of different segments and sub-segments of the market.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Factiva, Bloomberg BusinessWeek, and Dun & Bradstreet were referred to identify and collect this study's  PMMA market. These secondary sources included annual reports, press releases & investor presentations of companies; white papers; certified publications; articles by recognized authors; regulatory bodies, trade directories, and databases.

Primary Research

Various primary sources from both the supply and demand sides of the PMMA market were interviewed to obtain qualitative and quantitative information. The primary sources from the supply-side included industry experts, such as Chief Executive Officers (CEOs), vice presidents, marketing directors, sales professionals, and related key executives from various leading companies and organizations operating in the  PMMA  market industry. The primary sources from the demand side included key executives from end-use industries. The breakdown of the profiles of primary respondents is as follows:

Polymethyl Methacrylate Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the global PMMA  market size. These approaches were also used extensively to estimate the size of various segments of the market. The research methodology used to estimate the market size included the following details:

  • The key players were identified through extensive secondary research.
  • In terms of value, the industry's supply chain and market size were determined through primary and secondary research processes.
  • Impact of COVID-19 pandemic was ascertained
  • All percentage split and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the total market was split into several segments and sub-segments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all the segments and sub-segments of the PMMA market. The data was triangulated by studying various factors and trends from both the demand- and supply-side.

Report Objectives

  • To define, analyze, and project the size of the PMMA  market in terms of value and volume based on type, application, and region
  • To project the size of the market and its segments with respect to the five main regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • To provide detailed information about the key factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market
  • To strategically analyze the micromarkets with respect to individual growth trends, COVID-19 pandemic impact, prospects, and their contribution to the total market
  • To analyze the opportunities in the market for stakeholders and provide a detailed competitive landscape of the market leaders
  • To analyze the competitive developments, such as new product launches, expansions, and acquisitions, in the    PMMA  market
  • To strategically profile the key players operating in the market and comprehensively analyze their market shares and core competencies

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to client-specific needs.

The following customization options are available for the PMMA market report:

Product Analysis

  •  Product matrix, which offers a detailed comparison of the product portfolio of companies

Regional Analysis

  • Further breakdown of the Rest of the APAC, PMMA market into more nations not covered in the study
  • Further breakdown of Rest of Europe, PMMA market into more nations not covered in the study

Company Information

  •  Detailed analysis and profiling of additional market players (up to five)
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Published ON
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