Rapidly growing demand of light weight parts in automotive vehicles, and use of PMMA in automotive glazing supported by high weathering, UV resistance, and optimum acoustic properties of PMMA is expected to drive the demand of PMMA in automotive sector.
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The total PMMA market is valued at $ 4.6 billion as on 2017 and will reach $ 6.5 billion by the end of 2023, growing at a CAGR of 7%.
Rapid digitalization of rural areas has driven the need for attractive advertising options, leading to high demand of PMMA in signs & displays, lighting, and other similar applications.
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Asia Pacific will register the highest CAGR of around 8.0% during the forecast period from 2018-2023.
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Increasing per capita income among middle class in China and India and expected boost of automotive industry in developing countries is further expected to drive the demand of PMMA in these regions. Multinational players are shifting their production bases to these emerging economies to tap the untapped opportunities which is further expected to boost the demand of these products in these regions.
Regions like Middle East & Africa is expected to grow at the second highest CAGR of 7.0% due to several upcoming projects and expected consolidation of large players in these regions.
Extruded sheets segment accounted for largest market share of 50% in terms of volume in 2017, due to robust demand of these sheets in industrial sectors. Excellent thickness tolerance and cost-efficiency are the driving factors for the increased demand of these products in this sector.
Acrylic beads segment is expected to grow at the highest CAGR of 7% in the forecast period.
PMMA finds majority of application in signs & displays and construction segment. Telecommunication signs & displays and endoscopy are also utilizing fiber optics made from this material for various applications which is further expected to drive the PMMA demand in forecast period.
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Companies are continuously investing in PMMA economics and innovation. For instance, Lucite International has developed Alpha technology, method to produce MMA by using carbon monoxide, ethylene, and methanol as raw materials.
This technology has significantly improved the operating economies and has also provided an opportunity to reduce the capital investment. Some of the major players active in the region include 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.
Major Points from Table of Content of Polymethyl Methacrylate (PMMA) report:
1 Market Overview
2 Manufacturers Profiles
3 Global Polymethyl Methacrylate (PMMA) Market Competition, by Manufacturer
4 Global Polymethyl Methacrylate (PMMA) Market Analysis by Regions
5 North America Polymethyl Methacrylate (PMMA) by Countries, Type, Application and Manufacturers
6 Europe Polymethyl Methacrylate (PMMA) by Countries, Type, Application and Manufacturers
7 Asia-Pacific Polymethyl Methacrylate (PMMA) by Countries, Type, Application and Manufacturers
8 South America Polymethyl Methacrylate (PMMA) by Countries, Type, Application and Manufacturers
9 Middle East and Africa Polymethyl Methacrylate (PMMA) by Countries, Type, Application and Manufacturers
10 Global Polymethyl Methacrylate (PMMA) Market Segment by Type
11 Global Polymethyl Methacrylate (PMMA) Market Segment by Application
12 Polymethyl Methacrylate (PMMA) Market Forecast (2018-2023)
13 Sales Channel, Distributors, Traders and Dealers
14 Research Findings and Conclusion
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