Global PMMA demand projected to reach US$5.56 bln by 2021, at a CAGR of 4.7%

23-Aug-16

Global Polymethyl Methacrylate (PMMA) Market that was estimated at US$4.2 bln in 2015 is projected to reach USD$5.56 bln by 2021, at a CAGR of 4.7% between 2016 and 2021, as per Research and Markets. The market is largely driven by the increased demand from end-use industries. In addition, the rising demand for high quality thermoplastics increases the demand of PMMA, globally.

PMMA-based products form a major part of the electronics industry due to its optical properties, strength, structural stability, durability, and resistance to chemical and weathering among others, making them suitable for various applications. They are widely used in LED screens, LCD screens, appliances parts & accessories, and cover panels. Rising demands for electronic devices in Asia-Pacific are expected to boost the market for PMMA in the electronics segment.

The rising demand for high quality plastics is driving the market for PMMA in Asia-Pacific. The market in the region is mainly driven by the increased demand from China and India, where China is the largest market. The major end-use industries, namely, automotive and electronics are gaining momentum in the region, which is increasing the demand of PMMA. Furthermore, the rising demand from the construction industry is estimated to boost the market for PMMA in the region.