Driven by demand from APAC, Polymethyl Methacrylate market to grow at CAGR of 4.8% to 2019

02-Jan-15

ThePolymethyl Methacrylate market is expected to grow at a CAGR of 4.8% with market size projected at 2,433 KT to 2019. The APAC region, with its growing economy and rapidly expanding industrial & commercial base is projected to experience the highest growth in demand to 2019. The PMMA market in the Asia-Pacific region is projected to register a moderate growth rate of more than 6.2% (by volume) over the next five years. Asia-Pacific is projected to dominate the market, with more than 56.5% share (by volume) of the overall PMMA market by 2019, as per RnR Market Research. PMMA is consumed in a number of applications in which it is used as substitute to glass. It is consumed in following industries, namely signs and displays, construction, automotive, lighting fixtures, electronics, sanitary ware, and others. Construction is the second-largest application of PMMA. It accounted for a share of 21.1% (by volume) in the overall PMMA market in 2013. Asia-Pacific is the largest market in the construction industry. The construction industry in the region is poised to witness high growth because of increasing large infrastructure projects undergoing in developing economies, such as China and India. Both the countries have investing heavily in the construction sector. These factors will ultimately contribute toward growth of the PMMA market. Upcoming opportunities for the polymethyl methacrylate players lies ahead in introducing bio-based PMMA products. The bio-based PMMA is an alternative sustainable solution for high performance non-renewable products. The bio-based PMMA posesses enhanced chemical properties in comparison to regular thermoplastics. The bio-based PMMA is primarily used in applications seeking durability, such as consumer, medical, optical, and automotive markets. The technological advancement is expected to boost the growth of bio-based PMMA products over the coming years. This report analyzes different marketing trends and establishes the most effective growth strategy in the market. It identifies market dynamics such as drivers, restraints, opportunities, burning issues, and winning imperatives.