Polymethyl Methacrylate Market Size is Predicted to Witness 5.3% CAGR till 2030

[sara James]

The global polymethyl methacrylate market size is anticipated to reach USD 8.1 billion by 2030, registering a CAGR of 5.3% over the forecast period, according to a new report by Grand View Research, Inc. The growing demand for lightweight and high-strength materials in the automotive and construction industry is propelling the polymethyl methacrylate (PMMA) industry growth.Polymethyl methacrylate has witnessed a rise in demand from the sign & displays industry for the manufacturing of sheets, owing to its attributes including low weight and shatter resistance. PMMA is additionally considered an alternative to glass used in windows, aquariums, hockey rinks, and others.

The COVID-19 pandemic had a negative impact on the market due to the lockdown in the majority of countries. Owing to the vast spread of the virus, a majority of the manufacturing and production plants were shut off, which directly impacted the global supply chain. In addition, the ban on imports and exports caused a shortage of raw materials, therefore, disrupting manufacturing activities. Mergers & acquisitions, agreements, R&D activities, and expansions are the key strategies adopted by the industry participants. For instance, in December 2022, Chevron Phillips Chemical and QatarEnergy merged to construct an integrated polymer facility on the U.S. gulf coast.

List of Key Players Polymethyl Methacrylate Market

• HCS Group GmbH
• Dymatic chemicals, Inc.
• Chevron Phillips Chemical Company LLC.
• SK Geo Centric Co. Ltd.
• Lg Chem
• Maruzen PetrochemicalZEON Corp.
• Mitsubishi Chemical Corp.
• CHIMEI
• Asahi Kasei Corp.
• SABIC
• LOTTE MCC Corp.

Related Press Release@: Polymethyl Methacrylate Market Report

Polymethyl Methacrylate MarketReport Highlights

• Based on forms, the extruded sheet segment accounted for the largest revenue share in 2022 and is expected to further at a steady CAGR over the forecast period
• This can be attributed to the increase in demand for PMMA-based extruded sheets in furniture and construction industries, especially for beautification purposes, as these sheets offer advantages, such as better maintenance, quality, fabrication; and a wide range of colors
• The general purpose-grade segment led the market in 2022 and will retain its dominance over the forecast period due to the product’s tensile strength, low weight, and high demand in the chemical industries
• The signs & displays end-use segment dominated the industry in 2022 and will retain the position over the forecast period
• This is due to the high usage of PMMA-based advertising & marketing boards, directions signs, and retail & shop signs for public attention
• North America held the largest share in 2022 while Asia Pacific is anticipated to expand at a lucrative CAGR over the forecast period
• The APAC market growth is primarily attributed to the rising demand for eco-friendly materials that can be used in the production of electronic products, lighting, and healthcare equipment

Request a free sample copy or view report summary: Polymethyl Methacrylate Market Report

Polymethyl Methacrylate Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 5,654.2 million
Revenue forecast in 2030	USD 8.1 billion
Growth rate	CAGR of 5.3% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

 

Polymethyl Methacrylate Market Segmentation

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)

• Extruded Sheets
• Beads
• Pellets
• Cast Acrylic Sheets
• Others

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

• General Purpose Grade
• Optical Grade

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

• Signs & Displays
• Automotive
• Building & Construction
• Lightning Fixtures
• Electrical & Electronics
• Marine
• Healthcare
• Agriculture
• Consumer Goods
• Others

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

• North America
• • U.S.
  • Canada
  • Mexico
• Europe
• • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • The Netherlands
• Asia Pacific
• • China
  • India
  • Japan
  • South Korea
  • Australia
  • Malaysia
  • Singapore
  • Thailand
  • Vietnam
• Central & South America
• • Brazil
  • Argentina
• Middle East & Africa
• • Saudi Arabia
  • United Arab Emirates (UAE)
  • South Africa

Explore Horizon, the world's most expansive market research database