Global PMMA Market 2017-2021

Overview of the global PMMA market

Technavio’s market research analyst predicts the global polymethyl methacrylate (PMMA) market to grow steadily at a CAGR of above 6% by 2021. One of the primary drivers for this market is the exponentially growing demand for LEDs. PMMA covers can be installed for LEDs in TVs instead of fluorescent tubes; this is because diodes emit less heat than fluorescent tubes. PMMA molding compounds stay stable, irrespective of the vicinity of the light source, thus enabling LEDs to manage heat more easily. Furthermore, the durability and light transmittance capability of PMMA makes it suitable for use in small to large LED flat screens. Also, the use of PMMA significantly reduces the thickness of the TV and makes it look more attractive. The key benefit of PMMA in LED screens is that the consumption of power can be reduced significantly per TV. The above-mentioned reasons have played a crucial role in the rise in popularity of LED TVs across the globe, which in turn, is expected to propel the growth of the global PMMA market during the forecast period.

In terms of geography, APAC accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. The rising demand for PMMA in the region is the result of the increasing industrial growth largely due to government initiatives to promote a monetary framework that boosts private sector investments to develop the manufacturing sector, particularly in China and India. The increasing demand for bio-based polyurethane has been gaining popularity in recent years, with the product being utilized more than fiberglass.  Moreover, increasing population and rising income are expected to spur the LED flat screen TV market, which will augment the PMMA market in APAC in the coming years.

Competitive landscape and key vendors

The global PMMA market is highly competitive due to the presence of several players operating in different regions of the globe. With the increase in competition, the market has been seeing consolidation, where the smaller entities are being acquired by or merged with major players. Consequently, to survive and succeed in the intensely competitive environment, it becomes imperative for the vendors to employ a clear and unique value proposition.

Leading vendors in the market are –

• Arkema
• Chi Mei Corporation
• Evonik Industries
• KURARAY
• Sumitomo Chemical

Other prominent vendors in the PMMA market include Asahi Kasei, GEHR Plastics, and Saudi Methacrylates Company (SAMAC).

Segmentation by application and analysis of the PMMA market

• Signs and display
• Construction
• Automotive
• Electronics
• Medical and healthcare

During 2016, the sign and display segment dominated the PMMA market and accounted for a major part of the overall market share. The high demand for PMMA due to its good mechanical and chemical properties is the key factor responsible for the growth this segment in the global market.

Segmentation by form and analysis of the PMMA market

• Extruded sheets
• Pellets
• Cell cast sheets and blocks
• Beads

In this market study, analysts have estimated the extruded sheet segment to dominate the PMMA market during the forecast period. The increasing demand for several applications such as medical devices, grips on cameras, and handles is one of the primary contributors to the growth of this segment in the PMMA market.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global PMMA market?
• What are the key market trends impacting the growth of the global PMMA market?
• What are the challenges to market growth?
• Who are the key vendors in the global PMMA market?
• What are the market opportunities and threats faced by the vendors in the global PMMA market?
• Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global PMMA market? 

Technavio also offers customization on reports based on specific client requirement.

PMMA is a synthetic resin produced by the polymerization of methyl methacrylate and is a clear acrylic material that is replacing glass products. PMMA is a linear thermoplastic polymer that possesses high mechanical strength and is scratch resistant. This upcoming report by Technavio is an integral part of the chemicals and materials industry and offers an detailed study of rapidly growing sectors like plastics, polymers, and elastomers, additives, adhesives, and sealants, and paints, coatings, and pigments. Additionally, to help clients gain a traction over market competitors, Technavio offers vital information on the important market drivers and challenges, and also provides detailed information on all the vendors who hold significant positions in the chemicals and materials industry.

To accurately forecast the plastics, polymers, and elastomers industry’s growth prospects, our team of market research experts pursue a triangulated research approach of primary and secondary data techniques and also conduct a detailed analysis of several factors, including the latest technological advancements and the demand for products and services across different geographical boundaries. With an aim to help clients frame new strategies for growth, our upcoming industry research report on global PMMA market for the forecast period of 2017 to 2021 proposes executable ideas contrived from data accumulated from market sources such as manufacturers, channel partners, regulatory bodies, and decision makers.

This upcoming report on global PMMA market also takes into aspect the growth of related markets like rigid transparent plastics and conductive polymers, which are expected to grow at a CAGR of about 6% and almost 9%, respectively by 2021. As witnessed by our team of market research analysts, the increasing awareness and growing disposable income accompanied by the rising demand from emerging economies such as China, India, and Brazil are the central factors driving the plastics, polymers, and elastomers market’s growth in the near future. Based on the individual requirements of a variety of clients, Technavio also provides customized reports, which will help local vendors and global players targeting niche customer segments establish their presence in the chemicals and materials industry.

The upcoming industry research report for global PMMA market highlights the key drivers,  prospective trends, and the trials currently experienced by the plastics, polymers, and elastomers industry and also presents a holistic overview into the markets of bio-chemicals and bio-materials, chemical engineering equipment, olefins, and specialty chemicals.