What Is The Current and Historic Market Size Analysis Of The Polymethyl Methacrylate Market?
The polymethyl methacrylate market has seen considerable growth due to a variety of factors.
• There has been a swift expansion in the polymethyl methacrylate market in the past few years. The market, which was valued at $6.15 billion in 2024, is projected to increase to $6.78 billion in 2025, showcasing a compound annual growth rate (CAGR) of 10.2%.
The upward trajectory during the historical timeframe can be ascribed to factors such as the expansion in the construction and architectural sectors, the surging demand for lightweight and transparent materials, the broadening applications in the automotive and transportation sectors, the creation of uv-resistant and weatherable resins, and regulatory standards concerning material safety.
What Are The Predictions for The Polymethyl Methacrylate Market Size In The Coming Years?
The polymethyl methacrylate market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the polymethyl methacrylate market is anticipated to exhibit robust growth, reaching a value of $9.59 billion in 2029 with a CAGR of 9.0%.
The surge during the forecast period is expected to be driven by factors such as the development of sustainable and environmentally friendly acrylic resin formulations, tailored acrylic solutions for distinct applications, the proliferation of electric vehicles and EV battery applications, the advancement in LED and optical devices, and increased usage in medical implants and prosthetics. Key trends projected for the forecast period encompass the emergence of bio-based and biodegradable acrylic resins, stringent regulatory compliance in acrylic material safety, nanocomposite and high-impact acrylic materials, intelligent and self-cleaning acrylic surfaces, and partnerships between acrylic and material science.
Which Key Drivers Are Propelling The Polymethyl Methacrylate Market's Growth?
The polymethyl methacrylate market's expansion is largely prompted by its heightened consumption in the electronics and automotive sectors. The substance, identified as PMMA, is formed by polymerizing the methyl methacrylate monomer. Its scratch-resistant and clear characteristics make it an ideal alternative to glass for certain industrial uses. PMMA's lightweight nature, having only half the density of glass, and its transparency make it a popular material for car windows, motorcycle windshields, and internal and external panels. It is extensively used in LCD/LED television screens, laptops, smartphone screens, and display units of electronic devices. The unique attributes of PMMA have prompted its widespread adoption in the automotive and electronics sector. For example, as per a Feb 2022 report by UK-based consultancy Deloitte Touche Tohmatsu Limited, smartphones, computers, and televisions are projected to see a growth of 3-4% in 2022. Nevertheless, an expected decrease of over 15% in the average selling price of smartphones may lead to a fall in overall dollar value. Thus, the escalating demand from electronics and automotive sectors fuels the growth of polymethyl methacrylate market.
What Are The Key Segments Within The Global Polymethyl Methacrylate Market?
The polymethyl methacrylate market covered in this report is segmented –
1) By Form: Extruded Sheet, Cast Acrylic Sheet, Pellets, Beads
2) By Grade: General Purpose Grade, Optical Grade
3) By End User Industries: Buildings and Construction, Electrical and Electronics, Automotive and Transportation, Signs and Displays, Other End User Industries
Subsegments:
1) By Extruded Sheet: Standard Extruded Sheets, Textured Extruded Sheets, Colored Extruded Sheets
2) By Cast Acrylic Sheet: Standard Cast Acrylic Sheets, Optical Quality Cast Acrylic Sheets, Colored Cast Acrylic Sheets
3) By Pellets: General Purpose PMMA Pellets, Specialty PMMA Pellets
4) By Beads: PMMA Beads for Decorative Applications, PMMA Microbeads For Cosmetic Applications
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How Are New Trends Impacting The Size Of The Polymethyl Methacrylate Market?
Leading firms in the polymethyl methacrylate market are strategizing on the creation of novel products like phosphate methacrylate, which increases sturdiness and fire resistance capacity in diverse applications. The fusion of methacrylate and phosphate groups gives birth to phosphate methacrylate, which is famously utilized in industrial and dental operations. It augments the stickiness and longevity of dental adhesives and cements. For instance, Evonik Industries, a chemical establishment based in Germany, introduced VISIOMER® HEMA-P 100 in January 2024 with the aim to boost the execution of adhesives and layers and improve their adhesion aspect. They presented a high-grade phosphate methacrylate monomer that gives transparent fire prevention and enhances the stickiness for polar substrates, simultaneously boosting resistance to corrosion. This product's non-migratory quality secures a prolonged effect, making it ideal for numerous adhesive and coating applications.
Who Are the Key Players in the Polymethyl Methacrylate Market?
Major companies operating in the polymethyl methacrylate market include:
• Arkema SA
• Mitsubishi Rayon Co. Ltd.
• Sumitomo Chemical Co. Ltd.
• CHI MEI Corporation
• Evonik Industries AG
• Kolon Industries Inc.
• Polycasa N.V.
• Saudi Arabia Basic Industries Corporation
• Asahi Kasei Corporation
• Gehr Plastics Inc.
• Kuraray Group
• Dow Inc.
• LG Chem Ltd.
• Makevale Group
• Röhm GmbH
• Trinseo S.A.
• Toray Industries Inc.
• Plaskolite LLC
• Altuglas International
• Spartech LLC
• Perspex International
• Shanghai Jingqi Polymer Science Co. Ltd.
• Jumei Chemical Co. Ltd.
• Zhejiang Unipolymer Material Co. Ltd.
• Guangzhou Jufeng Plastics Co. Ltd.
• Suzhou Omay Optical Materials Co. Ltd.
• Jiangsu Juhua Polymer Co. Ltd.
• Shandong Dongyue Polymer Material Co. Ltd.
• Shandong Allplace Environmental Protection Technology Co. Ltd.
What are the Regional Insights into the Polymethyl Methacrylate Market?
Asia-Pacific was the largest region in the polymethyl methacrylate market in 2024 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the polymethyl methacrylate market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
