The global polymethyl methacrylate (PMMA) market is anticipated to reach USD 8.16 billion by 2025, according to a new report by Grand View Research, Inc. The growing demand for LED flat screens in Asia Pacific is projected to propel market demand over the coming years.
The PMMA industry has shifted its focus toward developing bio-based alternatives to combat volatile raw material prices. Eco-friendly PMMA is now being developed with the introduction of bio-based raw materials such as MMA from renewable organic feedstock. This in turn is anticipated to provide lucrative growth opportunities for new entrants.
Extruded sheets are expected to remain the dominant product segment with nearly 50% of the volume share in 2015. Extruded sheets have a better tolerance on thickness, typically +/-10%, as compared to cast acrylic sheets. The product is also expected to witness growth on account of its high transparency that makes it ideal for signs & displays in the advertising sector.
Browse full research report on Polymethyl Methacrylate (PMMA) Market: http://www.grandviewresearch.com/industry-analysis/polymethyl-methacrylate-pmma-industry
Further key findings from the study suggest:
- In terms of revenue, the global PMMA market is projected to grow at a CAGR of 7.5% from 2016 to 2025
- The growing demand for sophisticated infrastructure along with presence of major automotive OEMs is anticipated to boost the demand for acrylic beads
- The signs & displays segment is projected to grow at the CAGR of 7.8% owing to increasing demand for commercial billboards, display cabinets and leaflet dispensers
- North America and Europe are characterized by presence of leading resin manufacturers and technological capabilities of further processing these resins for end-uses
- Sluggish economic growth and Brexit are likely to affect industrial output in Europe, which in turn is expected to be a challenge for industry growth in the region
- Asia Pacific is projected to grow at the highest CAGR of 7.0% on account of increasing investments in renewable energy infrastructure and commercial projects undertaken in China, India, and Japan
- The polymethyl methacrylate market exhibits significant untapped potential in medical applications and ample scope in the sanitary ware industry for shower & bath installations
- New market entrants are actively engaged in the development of novel production technologies to improve process efficiency and reduce operational costs
- Influential companies include Evonik Industries AG, Mitsubishi Rayon Group, Arkema SA, Kuraray Group, Sumitomo Chemical Company Ltd., The Dow Chemical Company, SABIC and Asahi Kasei Corporation among others
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the PMMA market on the basis of product, application and region:
PMMA Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
- Extruded Sheets
- Acrylic Beads
PMMA End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
- Signs & Displays
PMMA Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- Saudi Arabia
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: http://www.grandviewresearch.com