Polymethyl Methacrylate Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Polymethyl Methacrylate Market Size

Polymethyl Methacrylate Market Analysis

Construction Contributes Highest Revenue

The construction category accounted for the largest revenue share, of 31.4%, in 2023, and it is further expected to maintain its dominance during the forecast period. This is due to the rapidly rising population in urban areas, on account of the ongoing migration from rural areas; growing standard of living associated with rise in the per capita income, mounting trend of green building materials, which have the potential to reduce emissions; and increasing investment in the residential sector, supported by several government housing programs.

In regard to the construction sector, the material is widely used for the manufacturing of windows, canopies, doors, bathtubs, panels, sinks, and knobs, due to its weather and UV resistance and high durability.

Additionally, the electronics category will witness significant growth in the coming years. This can be ascribed to the high usage of LCD screens and monitors, mobile phone screens, and infrared transmitter and receiver windows in the booming electronics industry and the increasing advertising across industries via digital signage. The rise in the demand for electronic goods is especially rapid in developing nations, owing to the increase in the per capita income and improvements in the standard of living.

The automotive category will witness the fastest PMMA market growth during the prediction period. This can be attributed to the rising demand for new-generation vehicles, especially EVs; increasing need to manufacture lightweight and highly fuel-efficient automobiles, and surging investments by automotive giants in augmenting their production output. PMMA sheets are used in car windows, interior and exterior panels, spoilers, motorcycle windshields, fenders, instrument covers, and other ancillaries.

Market Driven by Stringent Regulations Minimizing Conventional Polymer Usage

Research activities for polymers have shifted toward the development of eco-friendly polymers owing to the rising efforts to eliminate the negative impact of plastics on the ecosystem. Apart from the increasing environmental concerns, the sustainability regulations of governments are encouraging the development of biodegradable, renewable, and environmentally benign materials.

Moreover, the primary feedstock—MMA—as well as the secondary raw materials that are used in the manufacturing of PMMA are subject to the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) regulation. It necessitates chemical importers as well as manufacturers to register all the substances they produce or place in the market in quantities over 1 tonne in a central database, which is managed by the European Chemicals Agency (ECHA). The REACH primarily ensures the protection of the environment as well as human health and also maintains the competitiveness and fragmentation in the European chemical industry. This regulation is applicable across the 27 states of the European Union.

The PMMA industry must comply with the national regulations pertaining to the health and environmental impact of PMMA products. For instance, several legislations regulate the manufacturing of acrylic cast sheets (ISO 7823-1), acrylic extruded sheets (ISO 7823-2), and acrylic continuous-cast sheets (ISO 7823-3).

General-Purpose Category Contributes Majority of Revenue

The general-purpose category accounted for the larger revenue share, of 62.4%, in 2023, and it is further expected to maintain its dominance in the coming years. This is due to the burgeoning usage of general-purpose PMMA in the construction, automotive, and other industries. This is because this variant is highly resistant to UV light and exhibits greater surface hardness compared to other thermoplastics.

The optical category will register significant growth during the prediction period. This is due to the several advantageous properties of optical-grade PMMA, including transparence, surface hardness, weather resistance, and scratch resistance.

Growing Need for Injection-Molded Plastics in the Healthcare Sector

PMMA is used as a raw material for the injection-molded plastics used to manufacture medical equipment, such as containers, catheters, syringes, and medical bags. Currently, the demand for highly durable yet lightweight medical products with easier sterilization procedures is rising, thus boosting the market growth. The rising incidence of diseases such as orthopedic disorders, dental caries, cardiovascular diseases and the burgeoning population create a high demand for injection-molded plastic equipment; hence, the demand for raw material for their production is growing.

Moreover, these types of plastics are used for production of blood sample analysis cuvettes, needle housings, pregnancy test device, and a variety of other inexpensive, lightweight, and easy-to-sterilize medical devices and components. Also, they can be precast to artificial heart valves, making blood bags, and disposable plastic syringes. They also have application in the manufacture of antibacterial contact interfaces, which kills numerous kinds of pathogens, therefore, infection spread risks are decreased.

Also, they are easy to be customized into specific application. As they acclimatize to extremely delicate and small molds, their application is growing in the manufacture of surgical equipment, as well as in implantable products, such as stents, pacemakers, and joint replacement systems, along with catheters.

Extruded Sheets Contribute Most Revenue

Extruded sheets held the largest revenue share, of 43.8%, in 2023, and they are further expected to maintain their dominance during the prediction period. This is due to the mounting usage of such sheets in construction activities, EVs, and healthcare equipment due to their weather resistance, optical clarity, and glossy surface.

Geographical Analysis

Asia-Pacific accounted for the largest revenue share, of 38.0%, in 2023, and it is further expected to dominate the market during the forecast period. This can be ascribed to the burgeoning healthcare, electronics, and agriculture industries, rising R&D and manufacturing investment by industry giants, and the shift of international players’ manufacturing facilities to the region. Additionally, the increasing population and rising per capita income are driving the demand for this material, especially in the building & construction and automotive industries.

Moreover,

• China contributed the majority of the revenue in 2023 to the regional market, and it will continue to maintain this trend during 2024–2030. This is because the nation is the biggest manufacturing hub for electronics and consumer goods, due to the increasing count of local manufacturers and easy availability of raw material and cheap labor.

North America held a significant revenue share in 2023 in the polymethyl methacrylate market as well. This can be attributed to the developed healthcare infrastructure, increasing usage of signs and displays, and mounting construction rate in the continent.

• The U.S. contributes the majority of the revenue to the regional market owing to the presence of a huge number of manufacturers, high consumer purchasing power, and ballooning packaging industry.

Moreover, Europe will witness substantial polymethyl methacrylate industry growth during the forecast period. This can be attributed to the rising need to reduce the weight of cars, for improved performance, high rate of adoption of advanced technologies and products, and increasing demand for lightweight medical equipment. In addition, Germany contributes the majority of the revenue to the region owing to its huge automobile industry.

Market Breakdown

This fully customizable report gives a detailed analysis of the polymethyl methacrylate market, based on all the relevant segments and geographies.

Based on Type

• Extruded Sheets
• Pellets
• Beads

Based on Grade

• General-Purpose
• Optical

Based on Application

• Signs & Displays
• Construction
• Automotive
• Electronics
• Marine
• Healthcare
• Agriculture
• Consumer Goods

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa

Top Polymethyl Methacrylate Companies