Accordingto a new market report published by Transparency Market Research “Polymethyl Methacrylate (PMMA) -Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019”,the global Polymethyl Methacrylate market was valued at USD 5.74 billion in2012 and is expected to reach USD 10.53 billion by 2019, growing at a CAGR of7.9% over the forecast period from 2013 to 2019.
Growthof major end use industries such as electronics especially LED flat screens,signs and displays and automotive mainly in the emerging economies of Asia Pacificis expected to boost the market for PMMA over the next six years. However, thevolatility in raw material prices is expected to hinder market growth over theforecast period. In order to reduce reliance on petroleum derived products,major manufacturers such as Mitsubishi Rayon Company, Evonik Industries AG andArkema SA have been shifting their focus towards developing bio-basedPMMA.
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PMMAextruded sheets and pellets together accounted for more than 70% of the totalglobal market in 2012. These PMMA forms find wide applications in severalindustries including electronics, signs and display, construction andautomobiles among others. Owing to its new found use in coatings and emulsionsmarket PMMA beads (powder) form is expected to be the fastest growing market atan estimated CAGR of 8.8% from 2013 to 2019.Cell cast sheet and blocks isanother PMMA form widely used for construction activities owing to its impactstrength and weather resistance.
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Signsand displays industry emerged as the largest consumer of PMMA with 37% of theglobal market in 2012. The electronics industry especially flat display screensis expected to be the fastest growing market for PMMA at an estimated CAGR of8.8% over the forecast period, owing to growing disposable income of thepopulation in developing countries.of such as China, India, Brazil, SouthAfrica, among others In addition, broadening application of PMMA in othersegments such as furniture and interiors, sanitary ware, fashion and apparelamong others, is expected to boost PMMA consumption over the next sixyears
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AsiaPacific dominated the PMMA market with more than 50% of the global market in 2012.Along with being the largest market, Asia Pacific is also expected to be thefastest growing market at an estimated CAGR of 9.3% for PMMA from 2013 to 2019.Europe is expected to witness moderate growth rate in the near future owing toeuro-zone crisis, while Middle East and Africa (MEA) and Central and SouthAmerica (CASA) are expected to show above average growth for the PMMA market.
ThePMMA market is concentrated with top four players holding more than 70% share.Some of the key manufacturers of PMMA include Mitsubishi Rayon Company, EvonikIndustries AG., Arkema SA (Altuglas International),Chi Mei Corporation,Sumitomo Chemical Company and Dow Chemical Company among others.
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