Polymethyl Methacrylate (PMMA) Industry

The global polymethyl methacrylate (PMMA) market size was valued at USD 5,419.3 million in 2022 and is expected to exhibit a compound annual growth rate (CAGR) of 5.3% from 2023 to 2030. The increasing demand for lighter and more fuel-efficient vehicles in the automobile industry is one of the primary drivers for the growth of the polymethyl methacrylate (PMMA) industry. The COVID-19 pandemic had a negative impact on this industry. The pandemic led to the global lockdown, closing of national borders, and temporary shutting down of manufacturing industries, which led to disrupted supply chains worldwide.

Polymethyl methacrylate films protect buildings from harmful ultraviolet rays along with providing them with a long-lasting and aesthetically pleasing appearance. Increasing investments in the aerospace and defense sectors have also had a positive impact on production trends of PMMA in recent years, as the material is increasingly being used to create submarine periscopes and aircraft windscreens, canopies, and non-shattering shields & windows. The ongoing research and technological developments of PMMA have boosted its adoption in industries, such as automotive, building & construction, furniture & bedding, healthcare, and electrical & electronics. The increasing production of automobiles is expected to have a positive impact on the PMMA market over the forecast period.

Gather more insights about the market drivers, restrains and growth of the Global Polymethyl Methacrylate (PMMA) market

Polymethyl Methacrylate (PMMA) Market Segments Highlights:

Grade Insights

On the basis of grades, the global industry has been further segmented into general-purpose- and optical-grade PMMA. The general purpose-grade segment dominated the industry in 2022 and accounted for the maximum share of more than 60.20% of the overall revenue. The segment is estimated to expand further at a steady growth rate, maintaining its dominant industry position throughout the forecast period.

End-use Insights

On the basis of end-uses, the global industry has been further segmented into automotive, signs & displays, building & construction, lighting fixtures, electronics, marine, healthcare, agriculture, and consumer goods. The signs and displays end-use segment dominated the global industry in 2022 and accounted for the largest share of more than 31.85% of the overall revenue, followed by the construction sector. The segment is estimated to expand further at a steady CAGR, retaining its leading position throughout the forecast period.

Form Insights

On the basis of form, the global industry has been categorized into extruded sheets, beads, pellets, cast acrylic sheets, and others. The extruded sheet segment dominated the global industry in 2022 and accounted for the maximum share of more than 42.65% of the overall revenue. The segment is estimated to expand further at a steady CAGR, retaining its leading position throughout the forecast period. The growth of this segment can be attributed to the low cost, large end-use applications, and easy availability in the market.

Regional Insights

North America dominated the global industry in 2022 and accounted for the largest share of more than 30% of the overall revenue. The dominant share of the region can be attributed to the high usage of cast acrylic sheets, extruded sheets, pellets, and beads of polymethyl methacrylate in the real estate, construction, signs & display, healthcare, and furniture & design sector. The growing electronics industry, increasing healthcare equipment demand, and rising production of automobiles are also driving the demand for PMMA in the region. For instance, according to the International Organization of Motor Vehicle Manufacturers (OICA), the production of vehicles in the U.S. was recorded at 9.1 million units in 2021, which was an increase of 4% compared to 2020 production.

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Key Companies & Market Share Insights

The industry features various global and regional players, which makes it a competitive market. The world’s leading companies are using partnerships, collaborations, acquisitions, mergers, and agreements as strategies to withstand the intense competition and increase their industry share. PMMA manufacturers are spending extensively on R&D activities to develop advanced products and integrate new technologies and characteristics to conserve energy and improve efficiency.

In February 2022, Mitsubishi Chemical Corp. announced the strengthening of its global MMA operations. Mitsubishi Chemical Corp. has chosen to centralize pertinent head office responsibilities in Singapore and renamed the subsidiary to Mitsubishi Chemical Methacrylate, which will specifically deal with subjects related to PMMA. Some of the prominent players in the global polymethyl methacrylate market are:

1. HCS Group GmbH

2. Dymatic chemicals, Inc.

3. Chevron Phillips Chemical Company LLC.

4. SK Geo Centric Co. Ltd.

5. Lg Chem

6. Maruzen Petrochemical

7. Mitsubishi Chemical Corp.

8. CHIMEI

9. Asahi Kasei Corp.

10. SABIC

11. LOTTE MCC Corp.

Segments Covered in the Report

Grand View Research has segmented the global polymethyl methacrylate market based on form, grade, end-use, and region:

Polymethyl Methacrylate Form (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

1. Extruded Sheets

2. Beads

3. Pellets

4. Cast Acrylic Sheets

5. Others

Polymethyl Methacrylate Grade (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

1. General Purpose Grade

2. Optical Grade

Polymethyl Methacrylate End-use (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

1. Signs & Displays

2. Automotive

3. Building & Construction

4. Lightning Fixtures

5. Electrical & Electronics

6. Marine

7. Healthcare

8. Agriculture

9. Consumer Goods

10. Others

Polymethyl Methacrylate Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

1. North America

   1. US

   2. Canada

   3. Mexico

2. Europe

   1. Germany

   2. UK

   3. France

   4. Italy

   5. Spain

   6. The Netherlands

3. Asia Pacific

   1. China

   2. India

   3. Japan

   4. South Korea

   5. Australia

   6. Malaysia

   7. Singapore

   8. Thailand

   9. Vietnam

4. Central & South America

   1. Brazil

   2. Argentina

5. Middle East & Africa

   1. Saudi Arabia

   2. United Arab Emirates (UAE)

   3. South Africa

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