The Market For PMMA To Cross US$5.50 Bln By 2021 At A CAGR Of 4.7%

The market for PMMA to cross US$5.50 bln by 2021 at a CAGR of 4.7%

09-Aug-16

The market size of PMMA was US$4.20 bln in 2015 and is projected to reach US$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. The increased demand of plastics with high strength, durability, chemical and UV resistance, and high light transmission among others are some factors that are driving the PMMA market.
The signs & display segment accounts for the largest share of the PMMA market. This is due to the favorable properties such as high strength, durability, resistance to chemicals and weathering, and ease of processing, which makes them suitable for making instruction boards, advertising boards, display boards, and signage. Electronics is the fastest-growing segment of the PMMA market. Increasing growth in this sector has paved the demand of PMMA for various applications such as appliances parts, LED/LCD screens, laptop & mobile phone screen, touch screens, and cover panels.
PMMA in beads form is expected to witness the fastest growth in the PMMA market during the forecast period. Their demand is increasing due to the increasing demand for various high-performance plastics. PMMA beads are preferred in the industry, as they are used to enhance the various properties of thermoplastics such as UV resistance, toughness (impact modifiers), optical properties, and chemical resistance. Thermoplastics made from PMMA are suitable for automotive, construction, lighting, electronics, and other application.

Asia-Pacific dominated the global PMMA Market in 2015. The demand of PMMA in the Asia-Pacific region is mainly driven by the rising demand for high quality plastics from end-use industries. Asia-Pacific is estimated to be the fastest-growing market for PMMA, in terms of value. This high growth is because of the increased demand from the automotive and electronics segments in the region. Moreover, the growing infrastructural development is increasing the demand of PMMA in the region.