The global polymethyl methacrylate market size is expected to grow from $4.85 billion in 2021 to $5.05 billion in 2022 at a compound annual growth rate (CAGR) of 4.17%. The growth in the market is mainly due to the companies' resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global PMMA market is expected to reach $7.28 billion in 2026 at a CAGR of 9.55%
What is the Global Polymethyl Methacrylate Market?
The polymethyl methacrylate market consists of sales of polymethyl methacrylate materials by entities (organizations, partnerships, and sole proprietors) that are used as a substitute for glass in products such as illuminated signs, skylights, shatterproof windows, and aircraft canopies. Polymethyl methacrylate is a synthetic polymer that is hardened at room temperature and has less strength and low toxicity. PMMA is used in various industries, such as automotives, electronics, construction, signs and displays, and sanitary ware.
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What drives the Global Polymethyl Methacrylate Market?
The increasing demand for polymethyl methacrylate (PMMA) in the electronic and automobile industries is contributing to the growth of the polymethyl methacrylate market. PMMA could be synthesized by polymerizing methyl methacrylate monomer. 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 grew from $948.78 billion in 2020 to $1055.29 billion in 2021 at a compound annual growth rate (CAGR) of 11.2%. Similarly, auto sales hit just over 15 million vehicles in 2021, up 3.4% from 2020. Therefore, increasing demand from the electronics and automobile industries is contributing to the growth of the market.
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Global Polymethyl Methacrylate Market Segments
The global polymethyl methacrylate market is segmented:
By Form: Extruded Sheet, Cast Acrylic Sheet, Pellets, Beads
By End-User Industry: Building and Construction, Electrical and Electronics, Automotive and Transportation, Signs and Displays, Others (Medical, Furniture)
By Grade: General Purpose Grade, Optical Grade
By Geography: The regions covered in the polymethyl methacrylate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Polymethyl Methacrylate Global Market Report 2022provides market size and growth forecasts for the global polymethyl methacrylate market, global polymethyl methacrylate market share, polymethyl methacrylate market segments and geographies, polymethyl methacrylate market competitive landscape including leading competitors’ revenues, profiles and market shares. The polymethyl methacrylate market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Polymethyl Methacrylate Industry Playersinclude 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. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
