Acumen Research and Consulting announced new research study, the global methyl methacrylate market was valued at US$ 7,091.1 million in 2018, and is projected to exhibit a CAGR of 4.1% over the forecast period (2018–2026), in terms of revenue.
Key Trends and Analysis of the Methyl Methacrylate (MMA) Market:
Increasing demand for MMA from various end-use industries such as automotive, construction, aerospace, and electronics are expected to drive market growth. Increasing use of plastics for manufacturing light-weight vehicles is also expected to aid in growth of the market.
Stringent regulations imposed by various governments such as “end of life regulations” by the EU that are related to emissions, have resulted in increasing demand for light-weight vehicles. This in turn is expected to aid in growth of the market.
The automotive industry is one of the largest end user of MMA for application in molding and for extrusion compounds. The use of MMA in automotive plastics is increasing significantly.
Key Market Takeaways:
- The global methyl methacrylate (MMA) market is expected to exhibit a CAGR of 4.5% during the forecast period in terms of revenue. The market growth is driven by increasing use of MMA in various end-use industries such as electronics, construction, automotive, and aerospace.
- Among regions, Asia Pacific is expected to witness major market share over the forecast period, owing to increasing demand for automobiles and high usage of MMA in the manufacturing of automotive components and parts. Moreover, MMA is used in several electronic devices such as smart phones screen and other electronic parts.
- Some of the major players operating in the global methyl methacrylate (MMA) market include, DowDuPont Inc., BASF SE, Evonik Industries AG, Arkema Group, The Dow Chemical Company, Akzo Nobel N.V., Sumitomo Chemical Company Limited, Chi Mei Corporation, and Asahi Kasei Corporation
The global methyl methacrylate market comprises of some of the major players such as
- Evonik Industries AG
- Sumitomo Chemicals Co., Ltd.
- Mitsubishi Chemical Corporation
- BASF SE
- Asahi Kasei Corporation
Market By Application
- Chemical intermediates
- Surface coating & adhesives
- Emulsion polymers
Market By End-User
Market By Geography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of MEA