Polymethyl Methacrylate (PMMA) Market by Grade (General Purpose, Optical), Form (Extruded Sheet, Cast Acrylic Sheet, Pellets, Beads), End-Use Industry (Signs & Displays, Construction, Automotive, Lighting Fixtures, Electronics) - Global Forecast to 2029
Polymethyl Methacrylate (PMMA) Market
The global polymethyl methacrylate (PMMA) market is valued at USD 5.1 billion in 2024 and is projected to reach USD 6.1 billion by 2029, growing at 3.4% cagr from 2024 to 2029. Methyl methacrylate (MMA) is the raw material used to make PMMA. It is experiencing increasing demand due to its expanded use in automobiles, electronics, and construction. However, when materials costs rise, and environmental concerns grow, PMMA production costs may also rise. This can be an issue for the market because the prices of raw materials, i.e., MMA, are rising due to supply chain disruptions. Conversely, emerging technology and increasing demand in developing nations present favorable prospects for the PMMA sector. There are insufficient raw resources available to meet demand.
Attractive Opportunities in the PMMA Market
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PMMA Market Dynamics
Driver: Growing automotive industry
Growing investments and an increase in production in the automotive industry are expected to aid the growth of the PMMA market. Many companies are actively developing automobile-specific PMMA to cater to a wide array of vehicle applications.
According to the International Organization of Motor Vehicle Manufacturers (OICA), there has been a consistent upward trend in motor vehicle sales, with an 11.9% surge in sales from 2022 to 2023. PMMA is utilized in the manufacturing of taillights, windshields, windscreens, side windows, instrument panels, headlamps and rear lights, lenses of exterior lights, meter panels, sun visors, car sculptures, tail lamp covers, speedometer covers, and signal lamps. This surge in the automotive industry is thereby boosting the growth of the PMMA market.
Restraint: Availability of low-cost substitutes
Various substitutes of PMMA, which are less costly compared to PMMA are available in the market. polycarbonates (PC), polyvinyl chloride polymers, and structured multiwall sheets are some of the substitutes. Polycarbonates are used in automotive and electronic applications, and multiwall sheets are extended polycarbonates, for interior or exterior applications as a replacement for glass. These materials are being utilized instead of PMMA, hindering the growth of the product.
Opportunity: Increasing applications in the healthcare & medical sector
Thanks to its optical clarity, ease of sterilization, moldability, and chemical resistance, PMMA is becoming increasingly popular in the healthcare & medical sector in addition to being used for a variety of other purposes. It is used to produce dental materials, lenses, and surgical equipment. Due to its biocompatibility, it can withstand temperature fluctuations and chemical reactions. It is widely utilized in denture construction, implant filling, and bone grafting. PMMA has also greatly impacted ophthalmology, especially in producing intraocular lenses and hard contacts. As a result, PMMA is expected to find extensive use in the healthcare & medical sector.
Challenge: Raw material shortage
The PMMA industry is facing notable obstacles with the acquisition of raw materials necessary for its manufacturing. The main causes of this are supply chain interruptions and geopolitical unrest, which have raised the market price of PMMA procurement and delayed delivery. This has also led to a rise in PMMA's overall costs. The raw material price increase is primarily due to the unavailability, especially in the Europe and American region. The companies from this region usually acquire raw materials from the countries located in Asia Pacific region. And due to the supply chain disruptions, there has been a delay in shipments, leading to a higher cost of material.
Polymethyl Methacrylate (PMMA) Market ECOSYSTEM
The ecosystem of PMMA market involves companies from purchase of raw materials to end-use industries. The raw material i.e. methyl methacrylate is acquired from raw material suppliers, which is then processed to make PMMA. This PMMA is formed in sheets, beads, pellets, or other forms, and is further sold to a vast end-use sectors, like construction, electronics, automotives, lighting, healthcare, etc.
General purpose grade PMMA to have the largest market share during the forecast period.
General grade PMMA is estimated to account for the most significant market share throughout the forecast period. The general purpose grade of PMMA comes in both extrusion and injection molding grades and finds use in various applications, including food containers, vehicle taillights, and soundproofing walls. The general purpose grade of PMMA is a flexible option for multiple applications since it has outstanding impact resistance, weather resistance, and ease of processing.
Extruded sheet is for the largest form segment in the PMMA market.
Extruded sheets hold the largest market share among different forms of PMMA, according to estimates. Its benefits include clarity, a high-quality surface, ease of maintenance, surface hardness, lightweight design, and ease of production. This form of PMMA is also reasonably priced. Extruded PMMA sheets offer versatility for design and aesthetic needs because they are available in various colors and finishes. Because of this, they can also be used in decorative applications. Due to its high optical clarity, and easy moldability, it can be utilized to make complex shapes. Many companies are choosing this type of PMMA, as it helps them save on costs. The extruded sheet is known to have high impact resistance, which can be used in applications requiring strength and durability.
Construction segment accounted for the largest share during the forecast period.
Due to the growth in the construction sector, the construction segment is predicted to have the largest market share. In construction, PMMA is used to construct various parts, like window panels, skylights, sound barriers, facades, greenhouses, and waterproofing. The high-impact resistance of PMMA makes it the most suitable for construction applications. It also provides UV resistance making it suitable for exterior applications as well. For example, PMMA is used to make greenhouse structures. Because of PMMA, the plants receive the right amount of light from the external environment and are also protected from the UV rays of the sun. Similarly, it is utilized to make huge aquariums, as it has high impact resistance and optical properties, making it suitable for this use.
Asia Pacific dominated the market in 2023.
The Asia Pacific region is expected to have the largest PMMA market. This results from the growing demand from the automotive and construction industries. Construction activity is rising in this region's growing economies, such as Thailand, Vietnam, and India. In addition, numerous countries in this region produce well-known automobiles and other vehicles. Besides the production of normal cars, the region is rising in producing electric vehicles (EVs). According to the International Energy Agency, China accounted for 38% of EV sales compared to Europe and the US in 2023. In India, Faster Adoption and Manufacturing of Electric Vehicles (FAME II), which includes incentives to buy EVs, was launched. Such programs are, again, helping to increase the growth of the automotive industry.
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Polymethyl Methacrylate (PMMA) Market Players
The PMMA market comprises key manufacturers such as Trinseo S.A. (US), SABIC (Saudi Arabia), Rohm GmbH (Germany), Asahi Kasei Corporation (Japan), Mitsubishi Chemical Group Corporation (Japan), LX MMA (South Korea), and CHIMEI Corporation (Taiwan), Kuraray Co., Ltd. (Japan), Sumitomo Chemicals Co Ltd (Japan), Chimei Corporation (Taiwan), Lotte Chemical Corporation (South Korea), Plaskolite LLC (US), Gujarat State Fertilizers and Chemicals Limited (GFSC) (india), Toray Industries, Inc (India), RTP Company (Japan). Expansions, collaborations, and acquisitions were some of the major strategies adopted by these key players to enhance their positions in the PMMA market. A primary focus was given to expansions.
Polymethyl Methacrylate (PMMA) Market Report Scope
|
Report Metric |
Details |
|
Market size available for years |
2018–2029 |
|
Base year considered |
2023 |
|
Forecast period |
2024–2029 |
|
Forecast units |
Value (USD million/USD billion) and Volume (kiloton) |
|
Segments Covered |
Grade, Form, End-use industry, and Region |
|
Geographies covered |
North America, Asia Pacific, Europe, Middle East & Africa, and South America |
|
Companies covered |
Trinseo S.A. (US), SABIC (Saudi Arabia), Rohm GmbH (Germany), Asahi Kasei Corporation (Japan), Mitsubishi Chemical Group Corporation (Japan), and LX MMA (South Korea). |
This research report categorizes the PMMA market based on Grade, Form, End-use industry, and Region
PMMA market, By Form
- Extruded sheet
- Cast acrylic sheet
- Pellets
- Beads
- Others
PMMA market, By Grade
- General purpose grade
- Optical grade
PMMA market, By End-use Industry
-
Signs & displays
- Signage
- Display boards
- Point of sale boards
-
Construction
-
By End-use
- Residential
- Multi-Family
- Commercial
- Industrial
-
By Type
- Barriers
- Shatterproof Glass
-
Noise Barriers
- Flooring
- PMMA Resin Flooring
-
High-end Decorative Flooring
- Paints & Coatings
-
By End-use
-
Automotive
-
Automotive Part and Accessories
- Body Parts
- Lamp Covers
- Interior & Exterior Trim
-
Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Quad/ ATV & Side by Side
- Snowmobiles
- Recreational Vehicles
-
Fuel Type
- ICE Vehicles (Petrol, Diesel, Other)
-
Automotive Part and Accessories
-
Electronics
- Mobile phones, tablets and LCD screens
- Others
-
Lighting fixtures
- Light Guide Panels
- Solar Equipment
-
Consumer Goods
- Exercise Equipment
- Homeware
- Others
-
Healthcare
- Healthcare Devices
- Furniture
- Wall Cladding
- Sanitaryware
- Others
-
Agriculture
- Glazing/ Windows
- Agriculture Machinery & Vehicles
-
Marine
-
By Accessories and Parts
- Interior Surfacing
- Consoles
- Glazing and Windows
- Sinks
- Shower Pans
- Counter Tops
- Wall Cladding
- Outboard Engine Covers
- Portable Tables
- Others
-
By Type
- Personal Watercraft
- Commercial
- Sports Watercraft
-
By Accessories and Parts
- Others
PMMA market, By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Recent Developments
- Trinseo S.A., in June 2024, opened a depolymerization plant in Italy, to recycle PMMA and develop a circular economy.
- SABIC introduced LNP ELCRES SLX1271SR (Resin) in March 2024 for automotive applications. It is scratch-resistant, made from PMMA grade and a blend of PMMA and acrylonitrile styrene acrylate.
- In February 2024, Rohm GmbH signed a sales agreement with ALBIS Distribution GmbH & Co. KG (Germany), to expand its product distribution in Türkiye and North Africa.
- In July 2023, SABIC collaborated with Plastic Energy (England), A. Siemer-Disposal GmbH (Germany), and Landbell Deutschland (Germany), to recycle used plastics for further use.
- In October 2022, Trinseo S.A. partnered with Japan Steel Works Europe GmbH (Germany) to work toward recycling of PMMA chemicals.
- In April 2021, Rohm GmbH launched its product PLEXIGLAS XT Antimicrobial, an extruded sheet, to meet the demand for extra-hygienic products.
Frequently Asked Questions (FAQ):
What are the major drivers influencing the growth of the PMMA market?
The two main factors driving PMMA's growth are the electronics and automotive industries' rising demand.
What are the major challenges in the PMMA market?
The main obstacles to the PMMA market are its damaging environmental effects.
What are the different applications of specialty PMMA?
PMMA is used in many end-use sectors, including electronics, automotive, sign and display, building, lighting, and fixtures. Its use has steadily increased because of ongoing innovation.
What are the industry trends in the PMMA market?
Several manufacturers have recently increased the size of their manufacturing facilities to meet the growing demand for PMMA and strengthen their position in the target market. These major firms are concentrating on growing their regional footprint, especially in Asia, to lessen the competitive environment.
What are the restraints faced by the PMMA market?
PMMA is at risk of being replaced by its substitutes, like polycarbonate and polystyrene. This makes the PMMA market vulnerable to growth. Next, there is not much infrastructure available for the recycling of PMMA, which is crucial due to its harmful environmental impact as a type of plastic. .
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The study involved four major activities for estimating the current global size of the PMMA market. Exhaustive secondary research was conducted to gather information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizes with the industry experts across the value chain of PMMA through primary research. Both the top-down and bottom-up approaches were employed to estimate the overall size of the PMMA market. After that, market breakdown and data triangulation procedures were used to determine the size of different segments and sub-segments of the market.
Secondary Research
In the secondary research process, various secondary sources such as Business Standard, Bloomberg, World Bank, and Factiva were referred to, to identify and collect information for this study on the PMMA market. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, regulatory bodies, trade directories, and databases.
Primary Research
Various primary sources from both the supply and demand sides of the PMMA market were interviewed to obtain qualitative and quantitative information. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), vice presidents, marketing directors, sales professionals, and related key executives from various leading companies and organizations operating in the PMMA industry. The breakdown of the profiles of primary respondents is as follows:
Breakdown of Primary Interviews
Notes: Companies are classified based on their revenue–Tier 1 = >USD 7 billion, Tier 2 = USD 500 million to USD 7 billion, and Tier 3 = <USD 500 million.
Others include sales, marketing, and product managers.
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Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the global size of the PMMA market. These approaches were also used extensively to estimate the size of various dependent segments of the market. The research methodology used to estimate the market size included the following details:
- The key players were identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research includes the study of reports, reviews, and newsletters of key industry players, along with extensive interviews with key officials, such as directors and marketing executives.
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Data Triangulation
After arriving at the overall market size from the estimation process explained above, the total market was split into several segments and sub-segments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments of the PMMA market. The data was triangulated by studying various factors and trends from both the demand- and supply-side.
In addition, the market size was validated by using both the top-down and bottom-up approaches. Then, it was verified through primary interviews. Hence, for every data segment, there are three sources—top-down approach, bottom-up approach, and expert interviews. The data were assumed to be correct when the values arrived at from the three sources matched.
Market Definition
The PMMA market covers a wide range of products made primarily from Methyl methacrylate (MMA), used by various end-use industries like automotive, electronics, and lighting. This global market is driven by factors such as construction activities, and automotive trends, with regional variations influenced by economic conditions. Key trends include technological advancements in production, the growing demand for eco-friendly products, and the development of high-impact and chemical-resistant PMMA.
Key Stakeholders
- PMMA Manufacturers
- PMMA Suppliers
- Electronics and Semiconductor Companies
- Construction Companies
- Automotive Manufacturers
- Automotive Component Suppliers
- Panel and Screen Manufacturers
- Raw Material Suppliers
Research Objectives
- To estimate and forecast the PMMA market, in terms of value and volume
- To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market growth
- To define, describe, and forecast the market size, based on grade, form, end-use industry, and region
- To forecast the market size along with segments and submarkets, in key regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America along with their key countries
- To strategically analyze micro markets, for individual growth trends, prospects, and their contribution to the total market
- To analyze growth opportunities in the market for stakeholders and provide details on the competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- To analyze competitive developments, such as merger & acquisition, expansion & investment, and agreements in the PMMA market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to client-specific needs.
The following customization options are available for the PMMA report:
Product Analysis
- Product matrix, which provides a detailed comparison of the market for different forms of PMMA
Regional Analysis
- A further breakdown of the PMMA market for additional countries
Company Information
- Detailed analysis and profiling of additional market players (up to five)
Generating Response ...
Growth opportunities and latent adjacency in Polymethyl Methacrylate (PMMA) Market
PMMA market report
PMMA grades list
PMMA clear Pellets, ABS Pellets, Acrylic caste & extruded sheet and Chemical called: Methyl Methacrylate Monomer
General information on global PMMA market
PMMA market and application insights
Separate resin and casting Demand/Supply by regionPMMA resin and Casting
PMMA resin and Casting Demand/Supply by region.
General information on market trends and new developments for PMMA market
General information on global PMMA market
Which companies buy PMMA extrusion grade scrap?
Looking out for raw material supplier (PMMA & PS)
Information on PMMA used as bone cement in cemented total hip replacement surgeries.
Profile of Sheet moulding compounds manufacturers