Polymethyl Methacrylate Global Market Report 2024

Polymethyl methacrylate (PMMA) serves as a substitute for glass in products like illuminated signs, skylights, shatterproof windows, and aircraft canopies. This synthetic polymer hardens at room temperature, possessing low strength and low toxicity. PMMA is extensively utilized across various industries, including automotive, electronics, construction, signs and displays, and sanitary ware.

The primary forms of polymethyl methacrylate include extruded sheet, cast acrylic sheet, pellets, and beads. Extruded sheets are transparent materials with resistance to ultraviolet radiation and weathering. Their cutting, molding, drilling, and forming properties make them suitable for applications such as airplane windshields, skylights, automobile taillights, and outdoor signs. Polymethyl methacrylate comes in various grades, such as general-purpose and optical grades. These are employed by end users in sectors such as buildings and construction, electrical and electronics, automotive and transportation, signs and displays, and others, including medical and furniture.

The polymethyl methacrylate research report is one of a series of new reports that provides polymethyl methacrylate statistics, including polymethyl methacrylate industry global market size, regional shares, competitors with polymethyl methacrylate market shares, detailed polymethyl methacrylate market segments, polymethyl methacrylate market trends and opportunities, and any further data you may need to thrive in the polymethyl methacrylate industry. This polymethyl methacrylate research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The polymethyl methacrylate market size has grown rapidly in recent years. It will grow from $5.6 billion in 2023 to $6.19 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth observed in the historical period can be attributed to the expansion of the construction and architectural industries, increased demand for transparent and lightweight materials, growth in automotive and transportation applications, development of UV-resistant and weatherable resins, and the implementation of regulatory standards for material safety.

The polymethyl methacrylate market size is expected to see strong growth in the next few years. It will grow to $8.76 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The anticipated growth in the forecast period can be attributed to the adoption of sustainable and eco-friendly acrylic resin formulations, the development of customized acrylic solutions for specific applications, growth in electric vehicle and EV battery applications, expansion in LED and optical devices, and increased utilization in medical implants and prosthetics. Noteworthy trends expected in the forecast period include the rise of bio-based and biodegradable acrylic resins, a focus on regulatory compliance in acrylic material safety, advancements in nanocomposite and high-impact acrylic materials, the emergence of smart and self-cleaning acrylic surfaces, and collaborative efforts between acrylic and material science.

The polymethyl methacrylate market is experiencing growth due to the increasing demand for polymethyl methacrylate (PMMA) in the electronic and automobile industries. PMMA, synthesized from methyl methacrylate monomer polymerization, is scratch-resistant and transparent, making it a glass replacement in various applications. Its lightweight nature, with half the density of glass, and transparency make it suitable for car windows, motorcycle windshields, interior/exterior panels, and electronic displays (LCD/LED TV screens, laptops, smartphones). The global electronic products market expanded from $948.78 billion in 2020 to $1055.29 billion in 2021, growing at a CAGR of 11.2%. Similarly, auto sales surpassed 15 million vehicles in 2021, a 3.4% increase from 2020, driving demand for PMMA.

The polymethyl methacrylate market is further boosted by the growth of the automotive industry. With involvement in manufacturing, distribution, retail, and maintenance of automobiles, the automotive sector values PMMA for its strength, resilience, and light weight. The material finds applications in glazing, interior/exterior parts, and lighting. In the fiscal year 2021-2022, the automotive industry produced approximately 23 million vehicles, a rise from about 22.6 million units in the previous fiscal year, according to the Society of Indian Automobile Manufacturers (SIAM).

The market is witnessing a key trend with the development of bio-based PMMA, offering opportunities for expansion. Bio-based PMMA, with enhanced biocompatibility, is positioned as a substitute in medical devices, meeting the high demand from the medical industry. Companies are actively working on introducing new bio-based PMMA products, exemplified by Arkema's launch of an advanced bio-circular polyamide 11 medical polymer in November 2021.

Major companies in the polymethyl methacrylate market are exploring new products to gain a competitive advantage and enrich their offerings. Sumitomo Chemical, a Japanese chemical company, introduced the MeguriTM brand for plastic products obtained through recycling technology in September 2021, aiming to contribute to reducing greenhouse gas emissions and environmental impacts. In May 2021, Trinseo, a US-based material solutions provider, acquired the polymethyl methacrylate (PMMA) business of Arkema S.A, enhancing Trinseo's ability to provide solutions in profitable markets.

Major companies operating in the polymethyl methacrylate market include Arkema SA, Mitsubishi Rayon Co. Ltd., Sumitomo Chemical Co. Ltd., CHI MEI Corporation, Evonik Industries AG, Kolon Industries Inc., Polycasa N.V., Saudi Arabia Basic Industries Corporation, Asahi Kasei Corporation, Gehr Plastics Inc., Kuraray Group, Dow Inc., LG Chem Ltd., Makevale Group, Röhm GmbH, Trinseo S.A., Toray Industries Inc., Plaskolite LLC, Altuglas International, Spartech LLC, Perspex International, Shanghai Jingqi Polymer Science Co. Ltd., Jumei Chemical Co. Ltd., Zhejiang Unipolymer Material Co. Ltd., Guangzhou Jufeng Plastics Co. Ltd., Suzhou Omay Optical Materials Co. Ltd., Jiangsu Juhua Polymer Co. Ltd., Shandong Dongyue Polymer Material Co. Ltd., Shandong Allplace Environmental Protection Technology Co. Ltd., Guangzhou Lianguan Machinery Co. Ltd.

Asia-Pacific was the largest region in the polymethyl methacrylate market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the polymethyl methacrylate market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the polymethyl methacrylate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The polymethyl methacrylate market consists of sales of cast acrylic sheet including solid surface, cell cast and composite. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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