Global Polymethyl Methacrylate (PMMA) Market to Reach $5.9 Billion by 2026

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Jun 09, 2021, 10:20 ET

SAN FRANCISCO, June 9, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Polymethyl Methacrylate (PMMA) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Global Polymethyl Methacrylate (PMMA) Market

FACTS AT A GLANCE
Edition: 8; Released: February 2021
Executive Engagements: 1338
Companies: 32 - Players covered include 3A Composites GmbH; ALBIS Distribution GmbH & Co. KG; Asahi Kasei Corporation; Chi Mei Corporation; GEHR Plastics Inc.; Heilongjiang Zhongmeng Longxin Chemical Co., Ltd.; Kuraray Co., Ltd.; LG Chem Ltd.; LOTTE Chemical Corporation; Makevale Group; Mitsubishi Chemical Corporation; Nippon Shokubai Co., Ltd.; RTP Company; Saudi Basic Industries Corporation; Sumitomo Chemical Asia Pte Ltd.; Unigel S.A. and Others.
Coverage: All major geographies and key segments
Segments: Form (Extruded Sheets, Pellets, Beads, Other Forms); Application (Signs & Displays, Construction, Automotive, Electronics, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.

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ABSTRACT-

Global Polymethyl Methacrylate (PMMA) Market to Reach $5.9 Billion by 2026

Polymethyl methacrylate (PMMA) market is facing a mixed bag of challenges and opportunities as the COVID-19 pandemic continued to rage on. With the world fighting its biggest public health crisis in history, demand for protective sheets made of PMMA witnessed strong growth to control the spread of COVID-19 infections, as protective shields in hospitals, retail outlets and transport systems. With applications in personal protection sector witnessing strong improvement growth, most companies shifted production to address the burgeoning demand. At the same time the industry witnessed a decline in demand in various end-use markets including automotive, construction, and electronics.

Amid the COVID-19 crisis, the global market for Polymethyl Methacrylate (PMMA) estimated at US$4.2 Billion in the year 2020, is projected to reach a revised size of US$5.9 Billion by 2026, growing at a CAGR of 5.9% over the analysis period. Extruded Sheets, one of the segments analyzed in the report, is projected to grow at a 6.2% CAGR to reach US$3.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pellets segment is readjusted to a revised 5.2% CAGR for the next 7-year period. This segment currently accounts for a 24.7% share of the global Polymethyl Methacrylate (PMMA) market. Going forwards, increasing demand for protective sheets, recovery in automobile production and construction and other markets is expected to drive PMMA consumption in 2021. However, PMMA consumption is expected to be hindered by possible slowdown in automobile production due to lack of semiconductors and risk of business closures threatened by emergence of new virus strains.

The U.S. Market is Estimated at $634.7 Million in 2021, While China is Forecast to Reach $1.6 Billion by 2026

The Polymethyl Methacrylate (PMMA) market in the U.S. is estimated at US$634.7 Million in the year 2021. The country currently accounts for a 14.64% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$1.6 Billion in the year 2026 trailing a CAGR of 7.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR while Rest of European market (as defined in the study) will reach US$1.8 Billion by the end of the analysis period.

Recovery in automotive production in the post COVID-19 period is expected to bode well for market growth for MMA and PMMA materials. In the coming years, consumption of acrylic resins is expected to grow led by improvements on the economic front, increased activity in construction and architecture industries, and demand rise from automotive (primarily to improve functionality and to reduce weight) and electronics sectors. Potential opportunities for PMMA market are immense due to its unique aesthetic features and superior chemical characteristics, which make it a highly valuable material for use in several end-use markets. With demand rising from various industries including signs and displays, electronics, sanitary ware, construction, automotive, and lighting fixtures, many PMMA manufacturers are focusing on increasing their production capacities to meet the growing demand.

Beads Segment to Reach $880.9 Million by 2026

In the global Beads segment, USA, Canada, Japan, China and Europe will drive the 6.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$426 Million in the year 2020 will reach a projected size of US$645 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$225.5 Million by the year 2026, while Latin America will expand at a 7.3% CAGR through the analysis period. More

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