The polymethyl methacrylate global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Polymethyl Methacrylate Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The polymethyl methacrylate market size has grown rapidly in recent years. It will grow from $5.6 billion in 2023 to $6.19 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to growth in the construction and architectural industries, demand for transparent and lightweight materials, expansion of automotive and transportation applications, development of uv-resistant and weatherable resins, regulatory standards for material safety..
The polymethyl methacrylate market size is expected to see strong growth in the next few years. It will grow to $8.76 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to sustainable and eco-friendly acrylic resin formulations, customized acrylic solutions for specific applications, growth in electric vehicle and ev battery applications, expansion in led and optical devices, increased use in medical implants and prosthetics.. Major trends in the forecast period include bio-based and biodegradable acrylic resins, regulatory compliance in acrylic material safety, nanocomposite and high-impact acrylic materials, smart and self-cleaning acrylic surfaces, collaboration between acrylic and material science..
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Scope Of Polymethyl Methacrylate Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Polymethyl Methacrylate Market Overview
Market Drivers –
The increasing demand for polymethyl methacrylate (PMMA) in the electronic and automobile industries is contributing to the growth of the polymethyl methacrylate market. PMMA could be synthesized by polymerizing methyl methacrylate monomer. It is scratch-resistant and transparent, so it is used as a replacement for glass in some applications in the industry. PMMA is a lightweight material having a density of half that of glass and is transparent, so that it is being used in car windows, motorcycle windshields, interior, and exterior panels. It is also being used in LCD/LED TV screens, laptops, smartphone displays, and electronic equipment displays. Due to its features, the automobile and electronics have increasingly used PMMA. For instance, the global electronic products market size grew from $948.78 billion in 2020 to $1055.29 billion in 2021 at a compound annual growth rate (CAGR) of 11.2%. Similarly, auto sales hit just over 15 million vehicles in 2021, up 3.4% from 2020. Therefore, increasing demand from the electronics and automobile industries is contributing to the growth of the polymethyl methacrylate market.
The polymethyl methacrylate market covered in this report is segmented –
1) By Form: Extruded Sheet, Cast Acrylic Sheet, Pellets, Beads
2) By Grade: General Purpose Grade, Optical Grade
3) By End User Industries: Buildings and Construction, Electrical and Electronics, Automotive and Transportation, Signs and Displays, Other End User Industries
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Regional Insights –
Asia-Pacific was the largest region in the polymethyl methacrylate market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the polymethyl methacrylate market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the polymethyl methacrylate market include Arkema SA, Mitsubishi Rayon Co. Ltd., Sumitomo Chemical Co. Ltd., CHI MEI Corporation, Evonik Industries AG, Kolon Industries Inc., Polycasa N.V., Saudi Arabia Basic Industries Corporation, Asahi Kasei Corporation, Gehr Plastics Inc., Kuraray Group, Dow Inc., LG Chem Ltd., Makevale Group, Röhm GmbH, Trinseo S.A., Toray Industries Inc., Plaskolite LLC, Altuglas International, Spartech LLC, Perspex International, Shanghai Jingqi Polymer Science Co. Ltd., Jumei Chemical Co. Ltd., Zhejiang Unipolymer Material Co. Ltd., Guangzhou Jufeng Plastics Co. Ltd., Suzhou Omay Optical Materials Co. Ltd., Jiangsu Juhua Polymer Co. Ltd., Shandong Dongyue Polymer Material Co. Ltd., Shandong Allplace Environmental Protection Technology Co. Ltd., Guangzhou Lianguan Machinery Co. Ltd.
Table of Contents
1. Executive Summary
2. Polymethyl Methacrylate Market characterstics
3. Polymethyl Methacrylate Market Trends And Strategies
4. Polymethyl Methacrylate Market – Macro Economic Scenario
5. Global Polymethyl Methacrylate Market Size And Growth
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31. Global Polymethyl Methacrylate Market Competitive Benchmarking
32. Global Polymethyl Methacrylate Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Polymethyl Methacrylate Market
34. Polymethyl Methacrylate Market Future Outlook and Potential Analysis
35. Appendix
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