Polymethyl Methacrylate (PMMA) Market Size to Grow by USD 1.79 Billion from 2024-2028 at a CAGR of 5.54%

The Global polymethyl methacrylate (PMMA) market is projected to expand by USD 1.79 billion, growing at a CAGR of 5.54% between 2023 and 2028. The demand for PMMA is driven by increasing construction activities in emerging economies, advancements in bio-based PMMA, and its versatile applications in various industries. However, volatility in raw material prices remains a key challenge for market participants.

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Market Segmentation

By Type:

• Extruded Sheets

• Pellets

• Others

By Application:

• Signs and Display

• Construction

• Automotive

• Electronics

• Others

Regional Market Trends

Asia-Pacific (APAC)

• China

• Japan

Europe

• Germany

• France

North America

• United States

South America

Middle East and Africa

Segment Insights

By Type

The extruded sheets segment is expected to witness substantial growth due to rising demand in industries such as construction, automotive, and electronics. These sheets offer superior optical and mechanical properties, including excellent UV resistance, durability, and high light transmission. The segment was valued at USD 2.81 billion in 2018 and has shown a steady growth trajectory.

Market Dynamics

Drivers

• Increasing demand from the construction industry in emerging economies, particularly in China and India.

• Expansion in applications such as automotive, aviation, and digital technology.

• Rising adoption of PMMA for energy-efficient buildings and lightweight materials in industrial applications.

Trends

• Growing importance of bio-based PMMA due to environmental concerns and regulatory mandates.

• Increased application in healthcare for medical implants and drug delivery systems.

• Expanding use in digital technologies such as IoT, 5G connectivity, virtual reality, and augmented reality.

Challenges

• Volatility in raw material prices, particularly crude oil, impacting production costs.

• Geopolitical factors influencing supply chain stability.

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Key Players

• Asahi Kasei Corp.

• Avient Corp.

• Celanese Corp.

• Chimei Corp.

• Dow Chemical Co.

• Gehr Kunstoffwerk GmbH and Co. KG

• Go Yen Chemical Industrial Co. Ltd.

• KURARAY Co. Ltd.

• LG Chem Ltd.

• Lotte Chemical Corp.

• Makevale Group

• Mitsubishi Chemical Corp.

• Nippon Shokubai Co. Ltd.

• Plaskolite Inc.

• Roehm GmbH

• Samyang Corp.

• Saudi Basic Industries Corp.

• Schweiter Technologies AG

• Trinseo PLC

• Wanhua Chemical Group Co. Ltd.

Future Market Insights

The PMMA market is expected to experience continued growth due to its applications in construction, automotive, healthcare, and electronics. The shift towards bio-based PMMA, increasing urbanization, and advancements in digital technologies will further drive market expansion. However, price volatility of raw materials and geopolitical factors remain potential hurdles for sustained growth.