Press release
Synthetic and Bio-based PMMA Market to witness major growth by 2023 | Key Players Arkema, Mitsubishi Rayon, Sumitomo Seika Chemicals, SABIC, Evonik, The Dow Chemical Company, Makevale Group
Synthetic and Bio-based PMMA Market
Growing consumer awareness pertaining to lightweight commercial vehicles with better fuel efficiency along with strict regulations to control pollution levels should drive industry growth for transportation and automobile applications. It is preferably used due to certain properties such as low cost and easy processing, and handling.
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Key Profiles:
• Evonik Industries
• Mitsubishi Rayon Group
• Altuglas International
• Kuraray Group
• Chi Mei Corporation
• Sumitomo Chemical Co., Ltd.
• Asahi Kasei Corp.
• Daesan MMA
• LG MMA
• SABIC
• Makevale Group
• Polycasa N.V.
• The Dow Chemical Company
• Shanghai Jing-Qi Polymer Science Co
Strong application scope in construction, automotive, signs & displays should drive product demand. Increasing demand for outdoor signage & light box, displays, and door & window cover may fuel extruded PMMA sheets market growth.
Healthcare applications may witness significant gains at over 5.5%. Positive indicator in healthcare & medical industry in manufacturing cuvettes, syringes, dentures, and bone cements should drive product demand.
Methanol, acetone, and ammonia are key raw materials used for manufacturing process which generate toxic waste & possess environmental threat, may challenges industry profitability and affect PMMA market price trend. However, strict government guidelines to control GHG emissions should favor biobased PMMA market size.
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U.S. polymethyl Methacrylate demand from construction applications is set to exceed USD 200 million by 2022. It is used for making door panels and windows which protects against UV and chemical resistance and other climatic conditions.
China PMMA market size expects gains at above 7.5%. Increasing LED panels demand in manufacturing TVs and flat screens should drive regional growth. Increasing disposable income levels along with rapid industrialization should drive regional product demand.
Europe PMMA market size from electronics applications should witness gains at over 4%. Properties like scratch resistance, light transmission, and surface hardness may favor product demand in electronics industry for display units in this region.
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Automotive applications in Brazil may witness significant gains at over 6.5%. Increasing consumer awareness towards lightweight vehicles along with demand for better fuel efficiency should drive polymethyl methacrylate market size.
PMMA Pellet may witness significant gains as it finds usage in sign & display, healthcare, automotive, and fashion & apparels industry. These products are available in different color variety and have the property to be modified in desired size & shapes.
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