Because of its transparent and clear nature, the material is widely used for glass substitution. Alsop, the polymethacrylate is used to focus light in a variety of applications in various segments
Various factor hampering the growth of PMMA consists of volatile price of crude oil, availability of raw materials, and frequent business conditions of bottleneck availability. The key use of this product is transparent glass substitute. It is used for constructing commercial and residential aquariums. The standard glass has now been replaced by this glass by the aircraft windows and nowadays also by police vehicles used in riot control. It is also used in medical technologies and implants. Such synthetic materials are used to make eyeglasses and contact lenses. These are compatible with human tissue and are used to manufacture a broader variety of eye lenses.
The only disadvantage associated with is product is this has low impact resistance & power relative to other plastic replacements. At times, it is not that solid and can break, without breaking, as it may suffer brittle failures.
In terms of type, the global market is segmented into extruded sheets, pellets, acrylic beads, and others. In terms of application the global PMMA market is segmented into automotive, construction, electronics, signs & displays, and others. In the automotive industry, increased demand for lightweight components to achieve fuel efficiency is projected to increase PMMA consumption.
The global market of PMMA is also segmented into various geographies such as North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America. Asia Pacific accounted for a major market revenue share owing to the presence of China and India. China is also one of the largest importers of PMMA and is projected to show similar trend over the forecast period. In developing countries, the industry is projected to witness tremendous potential.
Several upcoming projects and consolidation of major industry participants with manufacturers in the region is likely to have a positive impact on the market dynamics. Key players include Mitsubishi Rayon Group, Evonik Industries AG, Kuraray Group, Arkema SA, Sumitomo Chemical Company, Chi Mei Corporation, DowDuPont, Asahi Kasei Corporation, SABIC
Key segments across Polymethyl Methacrylate market
- Type Overview, 2018-2025, (USD Billion and Kilotons)
- Extruded Sheets
- Acrylic Beads
- Applications Overview, 2018-2025, (USD Billion and Kilotons)
- Signs & Displays
- Regional Overview, 2018-2025, (USD Billion and Kilotons)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Central & South America
- Rest of Central & South America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- North America