Polymethyl Methacrylate (PMMA) Market

The global Polymethyl Methacrylate (PMMA) market size is projected to grow from USD 5.1 billion in 2024 to USD 6.1 billion by 2029, at a CAGR of 3.4% during the forecast period.

Polymethyl methacrylate also known as PMMA, acrylic, and acrylic glass is derived from Methyl methacrylate. It is known to be a replacement for glass. This material has high impact resistance and is also chemical and weather-resistant. It provides UV resistance as well, making it suitable for various applications. It comes in the form of transparent pellets, beads, or sheets which can be customized in any color required. It is used across various industries including construction, medical, automotive, lighting, and electronics to name some.

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The PMMA market is going to experience growth due to several reasons. Increasing urbanization and a booming construction industry are driving demand, specifically in emerging economies. Additionally, its use is being seen majorly in the automotive industry to manufacture various interior and exterior car parts, like windows, panels, lighting, making it an important material for this industry. Furthermore, the healthcare industry is also looking forward to utilizing this material to make bone cement, optical lenses, and dentures.

A few of the major players are 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). These players have implemented various growth strategies, such as acquisitions, investments, expansions, joint ventures, and partnerships to enhance their market shares and boost their product portfolios.

Trinseo S.A. (US) is a manufacturer and distributor of plastics and latex binders. The six business segments of the company consist of Latex Binders, Engineered Materials, Base Plastics, Polystyrene, Feedstocks, and Americas Styrenics. They sell their PMMA products under PLEXIGLAS in the US and under ALTUGLAS in Europe and Asia. It offers PMMA products to different industries including consumer electronics, medical, automotive, building & construction, and others. The company has 22 manufacturing plants and 11 research and development facilities in 18 countries. Its growth has taken place due to a combination of strategic steps like acquisitions, product launches, partnerships, and expansions in different geographies.

SABIC (Saudi Basic Industries Corporation), (Saudi Arabia) is a chemical processing company based in Saudi Arabia founded in 1976. It is 70% owned by Saudi Aramco and the rest 30% is publicly traded. It manufactures PMMA under the trade name SABIC PMMA. The company has expanded its business in the US, Europe, and Asia. It owns and operates 11 manufacturing facilities located in Asia and 14 sites in North and South America.  The company is known for product innovations having numerous patents.

ROHM GmbH, (Germany) is a well-known German company specializing in the production of methacrylate. The company manufactures its PMMA products, known by the trademarks PLEXIGLAS and PLEXIMID, in Europe, Asia, Africa, and Australia, and as ACRYLITE and ACRYMID in the Americas. With nine manufacturing facilities located across Europe, China, and North America, ROHM GmbH is a significant presence in the industry. The company has adopted the expansion strategy majorly to increase its global presence and expand the business. It is also known for its product innovations, especially using recycled materials.

The companies have initiated the following developments:

• Trinseo S.A., in June 2024, opened a depolymerization plant in Italy, to recycle PMMA and develop a circular economy.
• In October 2022, Trinseo S.A. partnered with Japan Steel Works Europe GmbH (Germany) to work towards recycling of PMMA chemicals.
• 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
• SABIC launched LNP ELCRES SLX1271SR (Resin) in March 2024, for automotive use, which is scratch-resistant, which is manufactured from PMMA grade and a blend of PMMA and acrylonitrile styrene acrylate.
• Rohm GmbH signed a sales agreement with ALBIS Distribution GmbH & Co. KG (Germany), to expand its product distribution in Turkey and North Africa in February 2024.
• Rohm GmbH launched its product PLEXIGLAS® XT Antimicrobial, an extruded sheet in April 2021, to meet the demand for extra hygienic products.

Related Reports:

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

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