The global polymethyl
methacrylate (PMMA) market is anticipated to reach USD 8.16 billion by 2025,
according to a new report by Grand View Research, Inc. The growing demand for
LED flat screens in Asia Pacific is projected to propel market demand over the coming
years.
The PMMA industry has shifted
its focus toward developing bio-based alternatives to combat volatile raw
material prices. Eco-friendly PMMA is now being developed with the introduction
of bio-based raw materials such as MMA from renewable organic feedstock. This
in turn is anticipated to provide lucrative growth opportunities for new
entrants.
Extruded sheets are expected to
remain the dominant product segment with nearly 50% of the volume share in
2015. Extruded sheets have a better tolerance on thickness, typically +/-10%,
as compared to cast acrylic sheets. The product is also expected to witness
growth on account of its high transparency that makes it ideal for signs &
displays in the advertising sector.
In depth research report on Polymethyl
Methacrylate (PMMA) Market
Further key findings from the study suggest:
•
In terms of revenue, the global
PMMA market is projected to grow at a CAGR of 7.5% from 2016 to 2025
•
The growing demand for
sophisticated infrastructure along with presence of major automotive OEMs is
anticipated to boost the demand for acrylic beads
•
The signs & displays
segment is projected to grow at the CAGR of 7.8% owing to increasing demand for
commercial billboards, display cabinets and leaflet dispensers
•
North America and Europe are
characterized by presence of leading resin manufacturers and technological
capabilities of further processing these resins for end-uses
•
Sluggish economic growth and
Brexit are likely to affect industrial output in Europe, which in turn is
expected to be a challenge for industry growth in the region
•
Asia Pacific is projected to
grow at the highest CAGR of 7.0% on account of increasing investments in renewable
energy infrastructure and commercial projects undertaken in China, India, and
Japan
•
The polymethyl methacrylate
market exhibits significant untapped potential in medical applications and
ample scope in the sanitary ware industry for shower & bath installations
•
New market entrants are
actively engaged in the development of novel production technologies to improve
process efficiency and reduce operational costs
•
Influential companies include
Evonik Industries AG, Mitsubishi Rayon Group, Arkema SA, Kuraray Group,
Sumitomo Chemical Company Ltd., The Dow Chemical Company, SABIC and Asahi Kasei
Corporation among others
Grand View Research has
segmented the PMMA market on the basis of product, application and region:
PMMA Product Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2025)
•
Extruded Sheets
•
Pellets
•
Acrylic Beads
•
Others
PMMA End-Use Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2025)
•
Automotive
•
Construction
•
Electronics
•
Signs & Displays
•
Others
PMMA Regional Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2025)
•
North America
o
U.S.
o
Canada
o
Mexico
•
Europe
o
Germany
o
UK
o
France
•
Asia Pacific
o
China
o
India
o
Japan
o
CSA
o
Brazil
•
MEA
o
Saudi Arabia
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please
visit: http://www.grandviewresearch.com/
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