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The polymethyl methacrylate (pmma) market size is forecast to increase by USD 1.79 billion at a CAGR of 5.54% between 2023 and 2028.
The polymethyl methacrylate (pmma) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market for extruded sheets is projected to experience steady growth due to the increasing demand in various industries. Extruded PMMA sheets offer superior mechanical and optical properties, making them suitable for applications in construction, electronics, and automotive sectors. These sheets are utilized In the manufacturing of windows, skylights, signs, aircraft canopies, and healthcare equipment, among others. PMMA's advantages include excellent UV resistance, chemical resistance, durability, and light transmission. The growth of industries such as urbanization, digitalization, robotics, and aviation is expected to fuel the demand for PMMA extruded sheets. The material's versatility, combined with its weathering and aging resistance, further bolsters its appeal.
The PMMA market is driven by factors such as increasing energy efficiency in buildings, the growing popularity of electric vehicles, and the need for lightweight materials in various industries.
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The Extruded sheets segment was valued at USD 2.81 billion in 2018 and showed a gradual increase during the forecast period.
Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The Asia Pacific (APAC) region dominates The market due to the expansion of the construction and automotive sectors. In 2021, China, Japan, India, and South Korea were significant contributors to the automotive industry in APAC. The increasing production of motor vehicles In these countries will fuel PMMA demand, as it is extensively used in automotive applications. Additionally, urbanization in APAC is driving infrastructure development and non-residential construction activities, creating opportunities for PMMA In the region. For instance, India's urban population is projected to account for 40% of the country's total population and generate 75% of its GDP by 2030.
PMMA's unique properties, such as chemical resistance, durability, light transmission, and mechanical strength, make it suitable for various applications in construction, electronics, and other industries. The PMMA market is expected to grow significantly due to the increasing demand from sectors like industrialization, digitalization, robotics, virtual reality, augmented reality, IoT, 5G connectivity, aviation industry, and flexible packaging.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increased demand from construction industry in emerging economies is the key driver of the market.
Growing importance of bio-based PMMA is the upcoming market trend.
What challenges does the Polymethyl Methacrylate (PMMA) Industry face during its growth?
Volatility in raw material prices used in production on PMMA is a key challenge affecting the industry growth.
Exclusive Customer Landscape
The polymethyl methacrylate (pmma) market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the polymethyl methacrylate (pmma) market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, polymethyl methacrylate (pmma) market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.
Asahi Kasei Corp. - Polymethyl methacrylate (PMMA) is a versatile acrylic resin widely used in various industries due to its superior properties. DELPET SRG097, a notable PMMA variant, showcases exceptional transparency, surface hardness, and chemical resistance. This acrylic resin is ideal for applications requiring high durability and clarity. PMMA's extensive usage can be attributed to its inherent advantages, including resistance to weathering, UV light, and impact. Industries such as automotive, construction, healthcare, and electronics leverage PMMA for its unparalleled performance and adaptability.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Polymethyl methacrylate (PMMA) is a versatile thermoplastic polymer that offers unique properties, making it an essential component in various industries. PMMA, also known as acrylic, is valued for its chemical resistance, durability, and optical clarity. These characteristics make it an ideal choice for applications where high transparency, rigidity, and resistance to environmental stressors are required. The PMMA market is driven by the growing demand for lightweight and durable materials in several sectors. In the construction industry, PMMA is used In the production of structured multiwall sheets for roofing and cladding applications due to its excellent light transmission and mechanical strength.
In the electronics sector, PMMA is utilized In the manufacturing of electrical and electronic components due to its excellent insulating properties and resistance to UV light. The automotive industry is another significant end-user of PMMA. It is used In the production of body parts, lamp covers, and sound barriers due to its lightweight nature and excellent mechanical properties. PMMA is also used In the aviation industry for aircraft canopies and windows, providing excellent optical clarity and UV stability. The healthcare sector is another growing market for PMMA. It is used In the production of medical equipment and devices due to its biocompatibility and transparency.
In the solar energy sector, PMMA is used In the production of solar devices due to its excellent optical properties and resistance to environmental stressors. The PMMA market is also driven by the increasing trend towards energy-efficient buildings. PMMA is used In the production of insulating windows and skylights, providing excellent thermal insulation and natural light transmission. In the transportation sector, PMMA is used In the production of electric vehicles due to its lightweight nature and excellent mechanical properties. The PMMA market is also influenced by the ongoing trend towards industrialization and digitalization. PMMA is used In the manufacturing of machinery and equipment due to its excellent mechanical properties and resistance to environmental stressors.
It is also used In the production of robotics, virtual reality, and augmented reality devices due to its optical clarity and durability. The PMMA market is expected to grow significantly due to the increasing demand for lightweight and durable materials in various industries. Factors such as urbanization, the Internet of Things (IoT), and 5G connectivity are also expected to drive the growth of the PMMA market. Despite the positive outlook, the PMMA market is not without challenges. The market is influenced by several factors, including crude oil prices and geopolitical factors. These factors can impact the production and pricing of PMMA, potentially affecting the growth of the market.
In conclusion, the PMMA market is driven by the growing demand for lightweight and durable materials in various industries. PMMA's unique properties, including its chemical resistance, durability, and optical clarity, make it an ideal choice for applications where high transparency, rigidity, and resistance to environmental stressors are required. The market is expected to grow significantly due to the increasing trend towards industrialization and digitalization, but it is not without challenges, including the impact of crude oil prices and geopolitical factors.
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Market Scope |
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Report Coverage |
Details |
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Page number |
179 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.54% |
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Market growth 2024-2028 |
USD 1791.3 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.15 |
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Key countries |
US, China, Japan, Germany, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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