CA, US, /July 24, 2018/ Market Density Publishes Market Research and Industry Analysis Report on the “Global Polymethyl Methacrylate Market” – Scope, Stake, Progress, Trends and Forecast up to 2023.

Market Overview:
Polymethyl Methacrylate (PMMA), also commonly known as acrylic or acrylic glass is synthetic resin produced from the polymerization of methyl methacrylate. PMMA is a transparent and rigid plastic, used as a substitute for glass in products such as skylights, shatterproof windows, illuminated signs, and aircraft canopies. Also, PMMA not only has a unique quality of transmitting visible light but it can also retain these properties even during the years of exposure to extreme weather and ultraviolet radiation.
This makes PMMA ideal substitute for glass in various applications such as internally lighted signs for advertising and directions. Also, PMMA finds its applications in various areas ranging from medical to aesthetic. Therefore it witnesses huge demand in some of the burgeoning industries like advertising, construction, automotive, and electronics, among others. Augmented demand and wide application areas predominantly drive the market for PMMA, escalating it on the global platform.
According to Market Density, The global market of Polymethyl Methacrylate is booming and expected to gain further prominence over the forecast period. The market is forecasted to reach USD 6.5 billion by 2023, registering a striking CAGR of 7% during the estimated period (2017 – 2023). Increasing emphasis on energy conservation is another key factor propelling the market growth.
PMMA demonstrates a good degree of compatibility with human tissue, and hence, it is used in the manufacturing of rigid intraocular lenses to be implanted in the eyes, replacing the original lens which is damaged or removed in the treatment of cataracts. Eyeglass lenses are commonly made from PMMA.
Growing, population, urbanization and industrialization over past few years, are prompting the demand for automobiles, constructions & infrastructure development, and healthcare. Improving economic conditions are increasing the unit sales rate in automotive and electronics industry, enhancing consumers’ purchasing power. Hence, the Polymethyl Methacrylate market is an ever-increasing space.
However, volatility of prices and demand & supply gap of raw materials is acting as a growth impeding factor. Also, lack of awareness towards the advantages of these materials is another key factor inhibiting the market growth.
Report Segments – Global Polymethyl Methacrylate Market
Market Density has segmented the analysis into three categories:-

By Product Types : Extruded, Pellets, and Cast Acrylic Beads, among others.
By End-Uses : Signs & Displays, Construction, Automotive, and Electronics, among others.
By Regions : North America, Europe, APAC and Rest of the World.

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Competitive Analysis – Global Polymethyl Methacrylate Market
The Embryonic market of Polymethyl Methacrylate appears to be competitive and fragmented. Several large and small key players are churning the competition to gain competitive edge accounting for a substantial market share. Strategies of these players remain the same, such as collaboration, acquisition, partnership, product & technology launch, and expansion. The market is poised to perceive constant innovations and development of new products eventually causing intensified competition among the vendors.
Key Players: Mitsubishi Rayon Group, Evonik Industries, Sumitomo Chemical Company Ltd., Chi Mei Corporation, The Dow Chemical Company, Kuraray Group, LG MMA Corp., Asahi Kasei Corporation, Makevale Group, Polycasa N., and, Shanghai Jing-Qi Polymer Science Co. are some of the fervent market players operating in the market.

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Industry News:
APR.02, 2018 – Mitsubishi Chemical Corp. (Japan) announced starting of commercial operations at Saudi MMA, PMMA plants. It is a new 50:50 joint venture between Mitsubishi Chemical and Saudi Basic Industries Corp. The plants can produce 40,000 mt/year of PMMA and cost about $360 million to build.
Regional Analysis of Global Polymethyl Methacrylate Market
The Asia-Pacific region is expected to dominate the global Polymethyl Methacrylate market. The market is expected to grow significantly, registering approx. 8% CAGR during the forecast period owing to the increase in applications of the material by the construction and automotive industry in the region. Giant players are shifting their production bases to the developing countries to cover the untapped opportunities which are resultantly boosting the demand for PMMA in these regions.
PMMA market in the Middle East & Africa is expected to emerge as the fastest growing market which will register a CAGR of 7% owing to the upcoming projects and expected consolidation of large players in these regions.
On the other hand, North American market of Polymethyl Methacrylate accounts for one of the lucrative markets, globally. The increase in the research and development activities to bring more advancement in the materials is leading to the growth of the regional market.

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