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Expert Opinion: Global PMMA Market
ASSO International Consulting estimates that global PMMA will reach $2.2 billion by 2030!Polymethyl Methacrylate (PMMA) is a thermoplastic polymer of Methyl Methacrylate (MMA). It is a clear, strong and lightweight plastic generally used as a substitute to glass due to its energy efficiency and weather resistance. Globally, Röhm, Trinseo, Mitsubishi Chemical and Sumitomo Chemical are the major players in the global market, and PMMA has a high market concentration. In recent years, as the profits of the PMMA industry have declined, some leading companies have divested their PMMA businesses. Globally, Röhm is the global market leader with a global market share of ***% in 2021.
Figure PMMA Product
Source: ASSO International Consulting
China remains as the world’s largest consumer of PMMA. However, consumption growth has slowed in recent years as the country’s downstream industry continues to mature. The supply has also been significantly affected by the ban on plastic scrap imports, which resulted in a sharp decrease in production via recycled PMMA scrap. In China, PMMA use is dominant in construction (lighting fixtures, sanitaryware, and glazing) and automotive applications, while electrical/electronics use (liquid crystal displays, LED flat panel televisions, and notebooks) is the most significant market in most of the other countries in Asia. Overall economic performance will continue to be the best indicator of future demand for PMMA. Demand in most downstream markets is greatly influenced by general economic conditions. The competition among vendors will increase during the forecast period. Vendors will compete to deliver competitive advantages in the market on the basis of pricing, value-added benefits, and service portfolios. During the forecast period, we expect this competition to intensify with an increase in product extensions. Asia Pacific alone is projected to account for a large percentage of new PMMA demand anticipated through 2028; the region’s growing middle class, improving living standards, and fast-developing infrastructure is driving significant industry growth.
Figure PMMA Market Size (US$ Million) (2017-2030)
Source: ASSO International Consulting
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The Global PMMA Market Research Report 2022-2030 report released by ASSO Consulting Company provides a basic overview of the PMMA industry, including definition, classification, application and industrial chain structure. Discuss development policies and plans as well as manufacturing processes and cost structures. The report then focuses on major industry players in Global, including company profiles, product images and specifications, sales, market share, and contact information. More importantly, the PMMA industry development trends and marketing channels were analyzed. Providing the main statistical data on the current status of the industry is a valuable guide and direction for companies and individuals interested in the market.
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