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Polymethyl Methacrylate Market 2023 : By Type, Application, Trends And Forecast 2032 | Arkema SA (France), Mitsubishi Rayon Co. Ltd. (Japan), Sumitomo Chemical Co. Ltd. (Japan), CHI MEI Corporation (Taiwan), Evonik Industries AG (Germany)
Polymethyl Methacrylate Market Growth
The Business Research Company's Polymethyl Methacrylate Global Market Report 2023 identifies increasing demand for polymethyl methacrylate (PMMA) in the electronic and automobile industries as the major driver for the Polymethyl Methacrylate market's growth in the forecast period. It is scratch-resistant and transparent, so it is used as a replacement for glass in some applications in the industry. PMMA is a lightweight material having a density of half that of glass and is transparent, so that it is being used in car windows, motorcycle windshields, interior, and exterior panels. It is also being used in LCD/LED TV screens, laptops, smartphone displays, and electronic equipment displays. Due to its features, the automobile and electronics have increasingly used PMMA. For instance, the global electronic products market size grew from $948.78 billion in 2020 to $1055.29 billion in 2021 at a compound annual growth rate (CAGR) of 11.2%.
The global polymethyl methacrylate market size grew from $5.06 billion in 2022 to $5.44 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The polymethyl methacrylate market size is expected to grow to $7.77 billion in 2027 at a CAGR of 9.3%.
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Major competitors in the Polymethyl Methacrylate market are Arkema SA (France), Mitsubishi Rayon Co. Ltd. (Japan), Sumitomo Chemical Co. Ltd. (Japan), CHI MEI Corporation (Taiwan), Evonik Industries AG (Germany), Kolon Industries Inc. (South Korea), Polycasa N.V. (Belgium), Saudi Arabia Basic Industries Corporation (Saudi Arabia), Asahi Kasei Corporation (Japan), Gehr Plastics Inc. (U.S.), Kuraray Group (Japan), The Dow Chemical Company (U.S.), LG Chem, and Makevale Group.
A key trend in the Polymethyl Methacrylate market includes development of bio-based PMMA is providing opportunities to expand. The medical industry has a higher demand for bio-based PMMA. Companies are also increasingly working on introducing new bio-based PMMA. For instance, in November 2021, Arkema launched a new advanced bio-circular polyamide 11 medical polymer. This polyamide 11 contains castor beans, which do not directly involve the food chain and do not harm the forest.
Read More On The Global Polymethyl Methacrylate Market Report Here:
https://www.thebusinessresearchcompany.com/report/polymethyl-methacrylate-global-market-report
The Polymethyl Methacrylate market is segmented -
By Form: Extruded Sheet, Cast Acrylic Sheet, Pellets, Beads
By End User Industries: Buildings and Construction, Electrical and Electronics, Automotive and Transportation, Signs and Displays, Other End User Industries
By Grade: General Purpose Grade, Optical Grade
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Polymethyl Methacrylate market.
The Business Research Company's "Global Polymethyl Methacrylate Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Polymethyl Methacrylate Market Include:
1. Executive Summary
2. Polymethyl Methacrylate Market Characteristics
3. Polymethyl Methacrylate Market Trends And Strategies
4. Polymethyl Methacrylate Market - Macro Economic Scenario
5. Polymethyl Methacrylate Market Size And Growth
……
26. Africa Polymethyl Methacrylate Market
27. Polymethyl Methacrylate Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Polymethyl Methacrylate Market
29. Polymethyl Methacrylate Market Future Outlook and Potential Analysis
30. Appendix
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