Increasing requirement of lightweight vehicles with low carbon emissions is propelling PMMA Market. A strict regulatory framework to eradicate greenhouse gas emissions and reduce pollution levels will favor bio-based PMMA industry growth. According to Global Market Insights, Inc., “Synthetic and Bio-based PMMA Market size is anticipated to be valued at USD 14.4 billion by 2022, with a CAGR estimation of more than 6.3% over 2015-2022.”
PMMA or Polymethyl Methacrylate is a plastic acrylic material and is considered an apt replacement for glass. Unique properties such as resistance to abrasion, optical clarity, light weight, opacity, translucence, and weather resistance make it the perfect choice to manufacture strong glass windows, signboards, and paints.
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Signs & display industry is one of the prime revenue generators for PMMA market, having contributed to 37.3% of the overall share in 2014, with a registered revenue of more than USD 2 billion. Increasing consumer demands and a high degree of competition amidst marketers to focus on brand management will fuel the market.
Construction, automotive, signs and display, and electronics are the main application segments of the PMMA industry. Bio-based PMMA market for electronic applications exceeded 34% of the total share in 2014, and is predicted to record a CAGR of 7.8% over 2015-2022.
PMMA industry for construction application segment exceeded 20% of the total share and is projected to grow at a healthy CAGR of more than 6.2% over 2015-2022.
In terms of product, PMMA market includes beads, extruded sheets, pellets, and cell cast sheets & blocks. PMMA pellet market contributed to more than 25% of the overall share in 2014 and is anticipated to record a significant CAGR exceeding 6.6% from 2015 to 2022. Pellets can be easily shaped and molded as per end-use requirement, which will further catalyze product demand.
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Extruded sheets find applications in LED screens for display boards. PMMA extruded sheet industry registered a revenue of more than USD 3.4 billion in 2014 and contributed to more than 56% of the overall share. Increasing requirement for high quality LED screens for display boards in residential complexes, electronic devices, interior and exterior decoration, and solar panels will fuel product demand.
Europe PMMA market, driven by key contributors, France and Germany, accounted for more than 15% of the overall share in 2014. APAC market, with a registered revenue of over USD 1.35 billion in 2014, is set to witness maximum gains over 2015-2022.
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Key industry players include Chi Mei Corp., Kuraray, Arkema, Asahi Kasei, Mitsubishi Rayon, LG MMA, Dow Chemical, Polycasa, and Sumitomo Chemicals.
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