The global polymethyl methacrylate market is the focus of analysis of a market research report recently published by Transparency Market Research. The report is titled “Polymethyl Methacrylate (PMMA) Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast 2013 - 2019”.The report states that the market will expand at a healthy 7.9% CAGR over the period between 2013 and 2019, rising from a valuation of US$5.74 bn in 2012 to US$10.53 bn by 2019.
Polymethyl methacrylate is a clear, lightweight, and strong plastic typically used as a replacement for glass owing to its qualities such as weather resistance and energy efficiency. It is available in the market in two grades and can be segregated as general purpose and optical based on the basis of usage. It is used across several applications in industries such as construction, electronics, interiors and furniture, fashion and apparel, solar panels, medicine and healthcare, and sanitary ware.
The report states that the healthy growth of major end-use industries such as electronics, automotive, and signs and displays, especially in developing regions such as Asia Pacific is a major factors driving the global PMMA market. However, volatile prices of raw materials is expected to hinder the growth of the market to a certain extent over the report’s forecast period
The report segments the global polymethyl methacrylate market on the basis of three criteria: product type, application, and geography.On the basis of form, the market has been segmented into extruded sheet, pellets, beads, and cell cast sheets and blocks. Of these, the segment of PMMA extruded sheets accounted for a dominant share of over 70% in the global PMMA market in 2012. PMMA extruded sheets witness huge demand from several traditional end-use industries such as electronics and automobiles. Their demand is projected to remain steady over the report’s forecast period. The segment of PMMA beads, which has started observing significant demand from the emulsions and coatings market, is expected to expand at the fastest pace in the market – at a projected 8.8% CAGR over the report’s forecast period.
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Of the key application areas of PMMA, the signs and displays industry emerged as the largest segment in 2012, accounting for a share of 37% in the market in 2012. The electronics industry, especially the segment of flat display screens, is expected to expand at the fastest pace in the global PMMA market over the report’s forecast period. The electronics industry will be a key demand driver for the global PMMA market owing to the rise in demand for consumer electronics in developing regions such as Asia Pacific.
Of the key regional markets for PMMA, Asia Pacific dominated the global PMMA market by accounting for a share of over 50% in 2012. The market for PMMA in Asia Pacific is also anticipated to be the fastest growing regional market over the report’s forecast period.
The competitive landscape of the global PMMA market is concentrated with the top four companies accounting for a share of over 70% in the market. Some of the key vendors in the market are Evonik Industries AG., Mitsubishi Rayon Company, Sumitomo Chemical Company, Arkema SA (Altuglas International), Dow Chemical Company, and Chi Mei Corporation.
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