24 Mars 2021
The report "Polymethyl Methacrylate (PMMA) Market by Grade (Optical and General Purpose), Form (Extruded, Cast Acrylic, Pellets, and Beads), and Application (Signs & Displays, Construction, Automotive, Lighting Fixtures and Electronics) - Global Trends & Forecasts to 2021".
Browse 84 market data Tables and 45 Figures spread through 140 Pages and in-depth TOC on "Polymethyl Methacrylate (PMMA) Market”.
The market size of PMMA is projected to reach USD 5.56 Billion by 2021, registering a CAGR of 4.7% during the forecast period. The increased demand of plastics with high strength, durability, chemical and UV resistance, and high light transmission among others are some factors that are driving the PMMA market.
Browse 84 market data Tables and 45 Figures spread through 140 Pages and in-depth TOC on "Polymethyl Methacrylate (PMMA) Market by Grade (Optical and General Purpose), Form (Extruded, Cast Acrylic, Pellets, and Beads), and Application (Signs & Displays, Construction, Automotive, Lighting Fixtures and Electronics) - Global Trends & Forecasts to 2021"
The major restraint observed in the market is the fluctuations in raw material price. This has hindered producers to expand their PMMA production capacities. Bio-based PMMA and innovative applications of PMMA are the upcoming opportunities for the PMMA producers.
In this scenario, it is extremely important that the players operating in the market remain competitive by adopting key growth strategies. The companies are focusing on R&D activities to come up with new and innovative products. This is expected to help them gain a competitive edge in the market by launching products for the emerging applications of PMMA. The next most common growth strategy in the market is expansion. Companies are aiming at increased market penetration at regional level by collaborating with regional players; marketing, technology, and channel partners to expand their customer base.
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““Asia-Pacific is the largest PMMA market”
Asia-Pacific dominated the global PMMA market in 2015. The demand of PMMA in the Asia-Pacific region is mainly driven by the rising demand for high quality plastics from end-use industries. Asia-Pacific is estimated to be the fastest-growing market for PMMA, in terms of value. This high growth is because of the increased demand from the automotive and electronics segments in the region. Moreover, the growing infrastructural development is increasing the demand of PMMA in the region.
“Signs & displays is the largest application”
The signs & display segment accounts for the largest share of the PMMA market. This is due to the favorable properties such as high strength, durability, resistance to chemicals and weathering, and ease of processing, which makes them suitable for making instruction boards, advertising boards, display boards, and signage. Electronics is the fastest-growing segment of the PMMA market. Increasing growth in this sector has paved the demand of PMMA for various applications such as appliances parts, LED/LCD screens, laptop & mobile phone screen, touch screens, and cover panels.
Mitsubishi Rayon Co. Ltd (Japan), Sumitomo Chemical Co., Ltd (Japan), and Chi Mei Corporation (Taiwan) are some of the major players in the global PMMA market.
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