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" Expected recovery from the impact of COVID-19 and growing penetration of EVs will drive the market "
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.
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 makes it the preferred material for point-of-sale display. 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.
The demand for PMMA is mainly catered to by global players manufacturing these membranes for various end-use industries. Some of the leading companies involved in the manufacturing of PMMA 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), globally.
By Company Type: Tier 1: 52%, Tier 2: 26%, and Tier 3: 22%
By Designation: C-level Executives: 48%, Directors: 23%, and Others: 29%
By Region: North America: 21%, Europe: 25%, Asia Pacific: 44%, ROW: 10%
Research Coverage
The market study covers the PMMA market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on form, end-use industry, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position PMMA market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall PMMA market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.