Global Polymethyl Methacrylate market data 2024, Forecast To 2033

The polymethyl methacrylate market has experienced rapid growth, escalating from $5.6 billion in 2023 to $6.19 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 10.5% in the historical period. This growth is attributed to the expansion of the construction and architectural industries, the demand for transparent and lightweight materials, the expansion of automotive and transportation applications, the development of UV-resistant and weatherable resins, and regulatory standards for material safety. Looking forward to 2028, the market is expected to see strong growth, reaching $8.76 billion with a CAGR of 9.0%. The drivers of this growth include sustainable and eco-friendly acrylic resin formulations, the customization of acrylic solutions for specific applications, the growth in electric vehicle and EV battery applications, the expansion in LED and optical devices, and increased use in medical implants and prosthetics. Major trends in the forecast period encompass bio-based and biodegradable acrylic resins, regulatory compliance in acrylic material safety, nanocomposite and high-impact acrylic materials, smart and self-cleaning acrylic surfaces, and collaboration between acrylic and material science.