Polymethyl Methacrylate (PMMA) Market: Expected Increase in Automobile and Building & Construction Material to Drive the Market Growth

The report?"Polymethyl Methacrylate (PMMA) Market?by Grade (General Purpose, Optical), Form(Extruded Sheet, Cast Acrylic Sheet, Pellets, Beads),End-Use Industry(Signs & Displays, Construction, Automotive, Lighting Fixtures, Electronics, Marine, Healthcare) & Region - Global Forecast to 2027" The PMMA market is projected to grow from USD 4.8 Billion in 2022 to USD 6.3 Billion by 2027, at a CAGR of 5.4% during the forecast period. PMMA market is driven by the rising demand from end-use industries, especially automotive, construction, signs & displays, and electronics. Market growth is expected to be restrained due to the availability of substitutes. Expected recovery of the automotive sector from the COVID-19 pandemic and rising penetration of EVs are expected to offer business opportunities in the forecasted period.

Extruded sheets are produced through a continuous process in which the resin is conveyed in a horizontal chamber comprising rotating screws. The extruded sheets obtained through this process offer superior thickness tolerance, thus making them suitable for applications which require intricate shapes. The sheets are softer than cast acrylic but contain impurities. The extruded sheets offer the advantage of clarity, glossy surface, and weather resistance

PMMA is utilized in different forms in the building and construction segment. It is used in window frames, furniture, tableware, soundproof walls, greenhouse windows, pool covers, and roofs. PMMA-made products are utilized in architectural and urban development projects (noise barriers and street furniture), contemporary design (shop fittings and furniture), and interior design applications. It is used in waterproofing applications and to make windows, as it provides rigid, lightweight glazing which resists UV degradation. The construction industry in the Asia Pacific region has been witnessing high growth due to an increase in large infrastructure projects; China has also received massive state investments during the past year. These factors are expected to contribute towards the growth of the construction industry, favoring the use of PMMA in various applications.

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Asia Pacific accounted for the largest share of the PMMA market in 2021, followed by North America and Europe. The China is one of the leading producers and consumers of PMMA, globally. Asia Pacific dominates the PMMA market as most of the producers of PMMA are based in the Asia Pacific. New construction projects, greenhouse applications, steady growth in automotive, are driving the PMMA market in the region.

The leading players in the PMMA market are R?hm GmbH (Germany), ChiMei Corporation (Taiwan), Mitsubishi Chemical Holdings Corporation (Japan), Sumitomo Chemical Co., Ltd. (Japan), SABIC (Saudi Arabia), LG Chem Ltd. (South Korea), Trinseo S.A. (US), Kuraray Co., Ltd (Japan), Kolon Industries Inc. (South Korea), Toray Industries, Inc. (Japan), Lotte Chemical Corporation (South Korea), Plaskolite LLC (US), and others.