Polymethyl Methacrylate (PMMA) Market Expected To Reach at USD 6.5 Bn by Extruded, Cast Acrylic Beads, Pellets - Industry Trends & Forecast up to 2023
Asia Pacific will register the highest CAGR of around 8.0% during the forecast period from 2018-2023. Increasing per capita income among middle class in China and India and expected boost of automotive industry in developing countries is further expected to drive the demand of PMMA in these regions. Multinational players are shifting their production bases to these emerging economies to tap the untapped opportunities which is further expected to boost the demand of these products in these regions. Regions like Middle East & Africa is expected to grow at the second highest CAGR of 7.0% due to several upcoming projects and expected consolidation of large players in these regions.
Extruded sheets segment accounted for largest market share of 50% in terms of volume in 2017, due to robust demand of these sheets in industrial sectors. Excellent thickness tolerance and cost-efficiency are the driving factors for the increased demand of these products in this sector. Acrylic beads segment is expected to grow at the highest CAGR of 7% in the forecast period.
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PMMA finds majority of application in signs & displays and construction segment. Telecommunication signs & displays and endoscopy are also utilizing fiber optics made from this material for various applications which is further expected to drive the PMMA demand in forecast period.
Companies are continuously investing in PMMA economics and innovation. For instance, Lucite International has developed Alpha technology, method to produce MMA by using carbon monoxide, ethylene, and methanol as raw materials. This technology has significantly improved the operating economies and has also provided an opportunity to reduce the capital investment. Some of the major players active in the region include Evonik Industries, Mitsubishi Rayon Group, Sumitomo Chemical Company Ltd., The Dow Chemical Company, Chi Mei Corporation, Kuraray Group, Asahi Kasei Corporation, LG MMA Corp., Makevale Group, Shanghai Jing-Qi Polymer Science Co. and, Polycasa N.
1.1. Goal & Objective
1.2. Report Coverage
1.3. Supply Side Data Modelling & Methodology
1.4. Demand Side Data Modelling & Methodology
2. Executive Summary
3. Market Outlook
3.2. Current & Future Outlook
18.104.22.168. Demand Drivers
22.214.171.124. Supply Drivers
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4. Market Demand Analysis
4.1. PMMA Market, By Product Type
4.1.2. Extruded Sheet
4.1.3. Acrylic Beads
5. PMMA Market, By End-use
5.2. Signs & Displays
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