The Polymethyl Methacrylate (PMMA) Market is expected to grow at a CAGR of 4.5% over the forecast duration of 2023-2030. The Polymethyl Methacrylate (PMMA) Market was valued at USD 6,197.3 million in 2022 and is expected to reach USD 8,810.4 million by 2030. Polymethyl Methacrylate is the scientific term for synthetic polymer widely known as acrylic, acrylic glass, and plexiglass. It is brittle, translucent, and lightweight when unaltered. It conducts light and, when adjusted, may be found in a variety of color-casting choices, textures, and forms. Polymethyl methacrylate is widely used in many sectors because of its versatility. PMMA may be easily altered in a variety of ways. It can be bonded to other materials which assists in improving its qualities.
The Polymethyl Methacrylate (PMMA) market is experiencing a growing demand for biobased PMMA, which is expected to significantly boost the overall market. PMMA is a transparent thermoplastic that finds extensive applications in various industries, including automotive, construction, electronics, and healthcare. The increasing focus on sustainability and the shift towards bio-based materials are driving the demand for bio-based PMMA. Bio-based PMMA is derived from renewable resources such as biomass, vegetable oils, and agricultural waste. Unlike traditional PMMA, which is petroleum-based and non-renewable, bio-based PMMA offers several environmental advantages. It has a lower carbon footprint, reduced dependency on fossil fuels, and helps in reducing greenhouse gas emissions. These factors align with the growing global emphasis on sustainable manufacturing practices and the adoption of eco-friendly materials.
One of the key drivers of the growing demand for bio-based PMMA is the increasing environmental regulations and initiatives aimed at reducing the usage of fossil-based plastics. Governments and regulatory bodies worldwide are implementing stringent regulations to curb carbon emissions and promote sustainable alternatives. Bio-based PMMA provides an attractive solution as it offers similar properties and performance to traditional PMMA while being more environmentally friendly. Consumer awareness and preferences for sustainable products are influencing the market demand. With the rise of eco-conscious consumers, there is a growing demand for products that have minimal environmental impact throughout their lifecycle. Bio-based PMMA fulfills these criteria and serves as a viable alternative to petroleum-based PMMA in various applications.
The automotive industry is witnessing a significant demand for biobased PMMA. As automakers strive to reduce the weight of vehicles and enhance fuel efficiency, they are turning to lightweight materials. Bio-based PMMA offers a lightweight, durable, and aesthetically appealing solution for applications such as automotive glazing, interior trims, and light covers. Moreover, its excellent optical properties make it suitable for headlights and taillights, further driving its adoption in the automotive sector.
In the construction industry, biobased PMMA is finding applications in windows, skylights, and roofing materials. The material's transparency, UV resistance, and weatherability make it an ideal choice for architectural applications. Additionally, the recyclability of biobased PMMA aligns with the industry's focus on circular economy principles and reducing waste. The electronics industry is also contributing to the growing demand for biobased PMMA. With the increasing use of displays, touchscreens, and light guides in electronic devices, there is a need for transparent and durable materials. Bio-based PMMA meets these requirements while offering the added benefit of sustainability, the healthcare sector is another significant driver of the biobased PMMA market. The material is widely used in medical devices, including prosthetics, dental materials, and diagnostic instruments. Bio-based PMMA's biocompatibility, clarity, and ease of processing make it a preferred choice for healthcare applications.
Overall, the growing demand for bio-based PMMA is driven by a combination of factors, including environmental regulations, consumer preferences, and industry-specific requirements. As sustainability becomes a focal point across industries, the market for biobased PMMA is expected to witness substantial growth. Manufacturers are increasingly investing in research and development to improve the production processes and expand the range of biobased PMMA applications. With its environmental advantages and comparable performance characteristics, biobased PMMA is poised to play a significant role in shaping the future of the PMMA market.
Based on type, the global polymethyl methacrylate market has been segmented into extruded sheets, cast sheets, pellets, and beads. In 2022, the extruded sheets segment drove the global polymethyl methacrylate market by holding a substantial market share with a market value of USD 2,486.6 million. It is projected to register a CAGR of 5.09% during the projected timeframe. Extruded sheet is a tough and highly translucent substance with outstanding UV and weathering resistance. It is the best option for applications requiring complicated shapes because it has outstanding optical clarity (92% light transmission), and thickness tolerance, and is easily fabricated. These properties make it perfect for a variety of applications, such as skylights, taillights on cars, exhibition booths, interior and exterior lighting, museum casings, noise-reducing walls, and outdoor signs. Also, it offers excellent scratch resistance, which will help to achieve a very high gloss finish. It is very important and utilized in a variety of applications where long-lasting aesthetic appeal is valued, such as on furniture, bathroom, kitchen, or cabinet facades.
The global polymethyl methacrylate market based on application has been segmented into automotive, construction, signs& displays, electronics & others. In 2022, the construction segment drove the global polymethyl methacrylate market by holding a substantial market share with a market value of USD 2,066.1 million. It is projected to register a CAGR of 5.42% during the projected timeframe. The rise in construction activities globally will surge the demand for PMMA construction materials. For instance, the construction sector was valued at USD 8.2 trillion in 2022 and is expected to reach USD 17 trillion by 2030 with a CAGR of 7.3% according to the latest construction market data. Thus, the rise in the growth of the construction industry will eventually raise the demand for PMMA materials in the construction sector.
Based on region, the Polymethyl Methacrylate (PMMA) Market has been segmented into North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The Asia-Pacific region is anticipated to drive the Polymethyl Methacrylate (PMMA) Market throughout the forecast period. The target region is anticipated to offer a total incremental opportunity of USD 3,991.1 million by the end of 2030. The Asia-pacific market is mainly driven by the availability of raw materials and increasing demand for Polymethyl Methacrylate (PMMA) across the region for various end-use applications in signs & displays, automotive, construction, and others. Due to the rise in population and increased per capita income, demand for PMMA products such as sheets, beads, pellets, and others is increasing. For instance, the Parliament of India has passed a bill to establish the National Bank for Financing Infrastructure and Development (NaBFID), a USD 2.5 billion development finance institution, which was approved in March 2021 in order to finance infrastructure projects in India. Also, according to the China Association of Automotive Manufacturers, there is a rise in the production of cars by 11.9% year-on-year growth and 13.5% of year-on-year growth in commercial vehicle production. Therefore, the rise in the growth of the end-use application in the Asia-Pacific region will fuel the market growth during the forecast period.
Europe was the second largest with a share of 23.80% in 2021, sized at USD 1,432.5 million; it is projected to exhibit a CAGR of 3.78%. Europe is expected to show healthy growth in the market for PMMA during the forecast period due to the rapid industrialization in these regions. Also, the growing trend towards energy-efficient and green buildings is accelerating market growth. For instance, the EU has proposed to transition from the existing almost zero-energy buildings to zero-emission buildings by 2030. This will support the expansion of the PMMA market in the European region.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Polymethyl Methacrylate (PMMA) Market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Polymethyl Methacrylate (PMMA) Market industry must offer cost-effective products to expand and survive in an increasingly competitive and rising market environment.
Some of the key players operating in the Polymethyl Methacrylate (PMMA) Market are Trinseo (US), ROHM GMBH (Germany), Kuraray Co. Ltd. (Japan), GEHR Plastics, Inc (Germany), Mitsubishi Chemical Corporation (Japan), Plazit Polygal (US), Sumitomo Chemical Company (Japan), 3A Composites GmbH (Switzerland), RTP Company (US) and Asahi Kasei Corporation (Japan). To increase their global reach and client base, key firms are concentrating on acquisitions and product innovation.
Trinseo: is a global specialty material solutions provider and leading manufacturer of PMMA products. The company designs and produces incredibly unique goods that are specifically suited to the requirements of its global customers. The company operates in five business segments: latex binders, engineered materials, base plastics, polystyrene, and feedstocks. It offers PMMA beads under the ALTUGLAS brand, capstocks under SOLARKOTE brand, cast sheets under PLEXIGLAS brand name in the Americas, and the ALTUGLAS and OROGLAS in EMEA and APAC. Also, it offers extruded sheets under the PLEXIGLAS brand name in the Americas, and throughout Europe and Asia Pacific under the ALTUGLAS brand. It is present in 55 countries throughout the world. The company has 26 manufacturing facilities worldwide, and 11 R&D facilities across Europe, Asia-Pacific, the United States, and Others.
ROHM GMBH: is one of the leading manufacturers of the methacrylate business globally. It is the only supplier of methyl methacrylate (MMA) and PMMA with downstream compounding in North America, Europe, and Asia. The company operates its businesses under the brand PLEXIGLAS, ACRIFIX, PLEXIMID, and CYROLITE of Rohm GmbH and its subsidiaries. The company sells its PMMA products under the PLEXIGLAS and PLEXIMID brand in the European, Asian, African, and Australian continents and under the ACRYLITE and ACRYMID brands in the Americas. The company generated around Euro 1.8 billion (USD 1.94) from sales in 2021. It has 15 manufacturing sites and has an operational presence across America, Europe, Asia-Pacific, the Middle East, and Africa.
December 2022: Rohm GmbH, a prominent manufacturer of methacrylates, has agreed to buy SABIC's Functional Forms division, subject to usual engagement with the respective works councils and antitrust approval. SABIC's functional forms division will design and produce polycarbonate resin polymethylmethacrylate (PMMA) sheets and films for a variety of industrial sectors, including building and construction, consumer electronics, medicine, and aerospace. The transaction is expected to close in the first half of 2024.
December 2022: Sumitomo Chemical has built a new pilot facility for the chemical recycling of Polymethyl Methacrylate (PMMA) at its Ehime Works in Niihama City, Ehime Prefecture, Japan. Samples of chemically recycled methyl methacrylate or MMA monomer generated in this facility, as well as Polymethyl Methacrylate (PMMA) produced from the monomer, will be available from spring 2023.
October 2022: Trinseo and Japan Steel Works Europe GmbH (JSW EU) announced a partnership on the chemical recycling of polymethyl methacrylate (PMMA).
July 2022: Trinseo launched its new series ALTUGLAS R-Life Acrylics, for the European marketplace. ALTUGLAS R-Life is a brand umbrella for chemically and mechanically recycled, reused, and bio-based polymethyl methacrylate (PMMA) sheets, resins, and compounds.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 6,197.3 Million |
| Market Size 2023 | USD 6,437.3 Million |
| Market Size 2030 | USD 8,810.4 Million |
| Compound Annual Growth Rate (CAGR) | 4.5% (2023-2030) |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019 & 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, and South America |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, Saudi Arabia, UAE, Argentina, |
| Key Companies Profiled | Trinseo (US), ROHM GMBH (Germany), Kuraray Co. Ltd. (Japan), GEHR Plastics, Inc (Germany), Mitsubishi Chemical Corporation (Japan), Plazit Polygal (US), Sumitomo Chemical Company (Japan), 3A Composites GmbH (Switzerland), RTP Company (US) and Asahi Kasei Corporation (Japan). |
| Key Market Opportunities | · Growing research and development investments in bio-based polymethyl methacrylate. |
| Key Market Dynamics | · Widespread use of polymethyl methacrylate in the construction industry. · Increasing demand in the automotive and transportation industries. · Increasing application in LED/LCD flat screens. |
Frequently Asked Questions (FAQ) :
Polymethyl Methacrylate (PMMA) Market size was valued at US$ 6,197.3 Mn in 2022
The market is projected to grow at a CAGR of 4.5% during the forecast period, 2023-2030
Asia Pacific holds the largest share of the market
Trinseo (US), ROHM GMBH (Germany), Kuraray Co. Ltd. (Japan), GEHR Plastics, Inc (Germany), Mitsubishi Chemical Corporation (Japan), Plazit Polygal (US), Sumitomo Chemical Company (Japan), 3A Composites GmbH (Switzerland), RTP Company (US) and Asahi Kasei Corporation (Japan).
Extruded Sheets category dominated the market in 2022
Construction holds the largest share of the market
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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