Polymethyl Methacrylate Industry Overview
The global polymethyl methacrylate (PMMA) market size was valued at USD 5,419.3 million in 2022 and is expected to exhibit a compound annual growth rate (CAGR) of 5.3% from 2023 to 2030.
The increasing demand for lighter and more fuel-efficient vehicles in the automobile industry is one of the primary drivers for the growth of the polymethyl methacrylate (PMMA) industry. The COVID-19 pandemic had a negative impact on this industry. The pandemic led to the global lockdown, closing of national borders, and temporary shutting down of manufacturing industries, which led to disrupted supply chains worldwide.
Gather more insights about the market drivers, restrains and growth of the Polymethyl Methacrylate Market
Polymethyl methacrylate films protect buildings from harmful ultraviolet rays along with providing them with a long-lasting and aesthetically pleasing appearance. Increasing investments in the aerospace and defense sectors have also had a positive impact on production trends of PMMA in recent years, as the material is increasingly being used to create submarine periscopes and aircraft windscreens, canopies, and non-shattering shields & windows.
The ongoing research and technological developments of PMMA have boosted its adoption in industries, such as automotive, building & construction, furniture & bedding, healthcare, and electrical & electronics. The increasing production of automobiles is expected to have a positive impact on the PMMA market over the forecast period.
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Polymethyl Methacrylate Market Segmentation
Grand View Research has segmented the global polymethyl methacrylate market based on form, grade, end-use, and region:
Polymethyl Methacrylate Form (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Extruded Sheets
- Beads
- Pellets
- Cast Acrylic Sheets
- Others
Polymethyl Methacrylate Grade (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- General Purpose Grade
- Optical Grade
Polymethyl Methacrylate End-use (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Signs & Displays
- Automotive
- Building & Construction
- Lightning Fixtures
- Electrical & Electronics
- Marine
- Healthcare
- Agriculture
- Consumer Goods
- Others
Polymethyl Methacrylate Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- The Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Malaysia
- Singapore
- Thailand
- Vietnam
- Central & South America
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates (UAE)
- South Africa
Key Companies profiled:
- HCS Group GmbH
- Dymatic chemicals, Inc.
- Chevron Phillips Chemical Company LLC.
- SK Geo Centric Co. Ltd.
- Lg Chem
- Maruzen PetrochemicalZEON Corp.
- Mitsubishi Chemical Corp.
- CHIMEI
- Asahi Kasei Corp.
- SABIC
- LOTTE MCC Corp.
Key Polymethyl Methacrylate Company Insights
The industry features various global and regional players, which makes it a competitive market. The world’s leading companies are using partnerships, collaborations, acquisitions, mergers, and agreements as strategies to withstand the intense competition and increase their industry share. PMMA manufacturers are spending extensively on R&D activities to develop advanced products and integrate new technologies and characteristics to conserve energy and improve efficiency.
In February 2022, Mitsubishi Chemical Corp. announced the strengthening of its global MMA operations. Mitsubishi Chemical Corp. has chosen to centralize pertinent head office responsibilities in Singapore and renamed the subsidiary to Mitsubishi Chemical Methacrylate, which will specifically deal with subjects related to PMMA.
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