PMMA market size is anticipated to exceed USD 11.5 billion by 2022; as per a new research report by Global Market Insights, Inc. Increase in branding activities by multinational corporations & regional companies, in the form of hoardings and visual displays is anticipated to drive demand.
Increasing consumer awareness for light weight vehicles with better fuel efficiency coupled with regulations to curb pollution levels is likely to favor growth. Globalbio PMMA market size is likely to exceed USD 2.6 billion by 2022 with estimated gains of more than 17.5%.
PMMA extruded sheets market dominated consumption and accounted for more than 56% of the total demand in 2014. Growth in signs & display industry coupled with gaining LED screen popularity among is likely to favor extruded sheets growth. Cell cast sheet & blocks are anticipated to witness highest gains at 7% from 2015 to 2022.
Increasing installations of flat panel displays in TV units owing to growing consumer demand is likely to positively influence the market. Growing application scope in medical & healthcare sector in manufacturing dentures, syringes, bone cements and cuvettes is likely to drive PMMA demand. Stringent government regulations owing to release of GHG (green house gases) from using raw materials such as ammonia, methanol and acetone is likely to hamper industry growth. Investments to develop green bio PMMA production routes are likely to generate new growth opportunities.
Key insights from the report include:
- Global PMMA market size registered 1.97 million tons in 2014 and is likely to reach 3.25 million tons by 2022, at an estimated CAGR of 6.5%.
- Signs and display was dominant application and accounted for 37.3% of the total demand in 2014. Electronic application is likely to witness highest gains at 7.8% from 2015 to 2022.
- Bio PMMA market size is anticipated to reach 536.7 kilo tons by 2022, growing at a CAGR of 16.9% from 2015 to 2022. Europe bio PMMA market size was dominant and accounted for more than 45% of the total volume in 2014.
- Electronic application based bio PMMA market share was the largest and accounted for more than 34% of the total demand in 2014. Automotive applications were the second largest and constituted 24% of the total demand in 2014.
- Asia Pacific was dominant region and accounted for 68.8% of the total volume in 2014. This region is likely to witness highest gains with presence of huge consumer base and is also expected to benefit from with cheap labor cost availability in India & China.
- U.S. PMMA market share is likely to witness moderate gains at 3.7% from 2015 to 2022 owing to improving economic conditions and growth of automotive & construction industry post recession.
- Global polymethyl methacrylate market share is concentrated with top four multinational companies catering to more than 60% of the total volume. Key manufacturers include Arkema, Mitsubishi Rayon, Chi Mei Corp and Sumitomo Chemicals. Other major manufacturers include Kuraray, Asahi Kasei, LG MMA and Dow Chemical.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.