Polymethyl Methacrylate Market will worth USD 6.36 billion, at a CAGR of 5% till 2029 | Evonik Industries, Mitsubishi Rayon Group, Sumitomo Chemical Company Ltd
The careful efforts of professional forecasters, skilled analysts, and intelligent researchers have resulted in the creation of the Polymethyl Methacrylate Market research study. Companies can better understand the different types of consumers, consumer demands and preferences, perspectives on the product, purchasing intentions, reactions to individual products that are already on the market. Thanks to the detailed and current information provided in this report. By dealing with a wide range of market analyses, product definition, market segmentation, important developments, and the current vendor landscape through 2029, the Polymethyl Methacrylate Market Report offers a complete overview of the market.
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Market Overview (2023-2029):
Historical Market Size (2022): USD 4.1 billion in 2022
Forecast CAGR (2023-2029): 5%
Forecast Market Size (2029): USD 6.36 billion by 2029
Also, the vendor landscape and competitive scenarios of the Polymethyl Methacrylate market are broadly analysed to help market players gain competitive advantage over their competitors. Readers are provided with detailed analysis of important competitive trends of the Polymethyl Methacrylate market. Market players can use the analysis to prepare themselves for any future challenges well in advance. They will also be able to identify opportunities to attain a position of strength in the Polymethyl Methacrylate market. Furthermore, the analysis will help them to effectively channelize their strategies, strengths, and resources to gain maximum advantage in the market.
Polymethyl Methacrylate Market Recent Developments
- December 2022: Coperian and Renov8 reached an agreement where Coperian will build a system for the recycling of PMMA for Renov8 that will be installed at KEZAD Polymers Park in Abu Dhabi, which is among the most popular vertically integrated polymer downstream manufacturing eco-systems in the region.
- December 2022: Röhm, one of the leading manufacturers in the methacrylate business, reached an agreement to acquire the functional forms business from Sabic, thus expanding its business in the production of its existing range of polymethyl methacrylate sheets and films. The transaction between the two companies is expected to close in the first half of 2029.
Market Dynamics
Drivers
Poly methyl acrylate is widely used in the automotive industry because it is waterproof and lightweight. It is utilized in equipment and body parts for automobiles, such as lamp covers and external and interior trimmings. Along with other exterior lighting fixtures, it is used in headlights, side windows, windshield wipers, windscreens, rear lights, meter panels, wind deflectors, tail light covers, and speedometer needs to cover, and signaling illumination.
Restraints:
There are numerous PMMA substitutes on the market, which is somewhat limiting market expansion. polyvinyl chloride polymers, Polycarbonates, and constructed multiwall films are a few of the replacements that are offered on the market. Because they are environmentally friendly, like substances composed of glass, composite materials are novel synthetic materials that are in demand worldwide.
Opportunities
PMMA is created using petroleum-based materials, which results in products that hurt the environment and release carbon dioxide. However, due to the growing need for PMMA, alternate production methods that utilize bioenergy and biochemical processes have been found. The production of a PMMA-producing enzyme has caused the development of microbial PMMA treatments.
Challenges
PMMA is widely used for sheets because it is readily available and reasonably priced. But the ecosystem is also negatively impacted. As more people become aware of these negative environmental repercussions, consumption should decrease. These factors make it challenging to expand the PMMA industry.
Competitive Assessment:
The main research methodology applied here by the research team is data triangulation, which includes data mining, analysis of the impact of data variables on the market, and primary (industry experts) validation. This report helps to gather information about all the above factors by providing actionable market insights and comprehensive analysis. The Polymethyl Methacrylate market report mainly focuses on important aspects of the market which include historical data, current market trends, environment, technological innovations, upcoming technologies, and technological advancement in the industry among others.
Leading market players in the Polymethyl Methacrylate market is focusing on strategies such as expansion, new product launches, and acquisitions to gain large market share and enhance their global presence in the target market. Some Key Competitors of the Polymethyl Methacrylate market is Evonik Industries, Mitsubishi Rayon Group, Sumitomo Chemical Company Ltd., The Dow Chemical Company, Chi Mei Corporation, Kuraray Group, Asahi Kasei Corporation, LG MMA Corp., Makevale Group, Shanghai Jing-Qi Polymer Science Co. and, Polycasa N.V. and others.
Polymethyl Methacrylate Market Segmentation:
Polymethyl Methacrylate Market by Type, 2023-2029, (USD Million), (Thousand Units)
- Extruded Sheet
- Cast Acrylic Sheet
- Beads and Pellets
Polymethyl Methacrylate Market by Applications, 2023-2029, (USD Million), (Thousand Units)
- Sign & Display
- Automobile
- Construction
- Electronics
- Lighting & Fixture
Regions included in the report Polymethyl Methacrylate Market:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
- South America (Colombia, Brazil, Argentina, Rest of South America)
- Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Highlight the Following Key Factors:
- Business description: a detailed description of company operations and business departments.
- Company strategy: The analyst’s summary of the company’s business strategy.
- SWOT analysis: Detailed analysis of the company’s strengths, weaknesses, opportunities, and threats.
- Company History: The progress of major events related to the company.
- Main products and services: A list of the company’s main products, services, and brands.
- Main competitors: A list of the company’s main competitors.
- Important locations and subsidiaries: The company’s main locations and subsidiaries’ list and contact information.
- Detailed financial ratios of the past five years: The latest financial ratios come from the annual financial statements issued by companies with a history of five years.
What this report provides?
▶ GTM (Go-to-Market) strategy
▶ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer)
▶ Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, QMI quadrant, and other significant analysis, as well as development status
▶ Recent market developments and it’s futuristic growth opportunities
▶ Customized regional/country reports as per request
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Key Points from TOC:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Polymethyl Methacrylate Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Global Statistics — Key Countries
- New Product Launches
- Pipeline Analysis
- Regulatory Scenario — Key Countries
- Recent Industry Developments — Partnerships, Mergers and Acquisitions
- Global Market Analysis, Insights and Forecast
- Key Findings/ Summary
- Polymethyl Methacrylate Market Analysis — By Product Type
- Market Analysis — By Distribution Channel
- Market Analysis — By Countries/Sub-regions
- Competitive Analysis
- Key Industry Developments
- Global Polymethyl Methacrylate Market Share Analysis
- Competition Dashboard
- Comparative Analysis — Major Players
- Company Profiles
- Overview
- Products and Services
- SWOT Analysis
- Recent developments
- Major Investments
- Regional Market Size and Demand
- Strategic Recommendations
TOC Continued……………….
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