Polymethyl Methacrylate (PMMA) Market Research Report- Forecast to 2021

[140 Pages Report] The Polymethyl Methacrylate Market (PMMA) Size was USD 4.20 billion in 2015. It is projected to reach USD 5.56 billion by 2021, at a CAGR of 4.7% between 2016 and 2021.

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The value chain includes Polymethyl Methacrylate manufacturers such as Arkema SA (France), Evonik Industries AG (Germany), Mitsubishi Rayon Co., Ltd. (Japan), Saudi Arabia Basic Industries Corporation (SABIC) (Saudi Arabia), Sumitomo Chemical Co., Ltd. (Japan), Asahi Kasei Corporation (Japan), Chi Mei Corporation (Taiwan), GEHR Plastics, Inc. (Germany), and Kolon Industries Inc. (South Korea). Polymethyl Methacrylate -based products are mainly used in the automotive, construction, electronics, chemical, and healthcare & medical industries.

Polymethyl Methacrylate is a transparent thermoplastic and impact resistant substitute of glass. It is highly durable, weather, and chemical-resistant as compared to glass. It is lightweight, rigid, and has color versatility. Polymethyl Methacrylate is available in two grades that are optical grade and general purpose grade. Optical grade Polymethyl Methacrylate is used to make light guide panels (LGP), as it provides high brightness and high purity grade making the screen brighter and cleaner.  In this study, 2015 has been considered as the base year and 2016–2021 as the forecast period for estimating the market size of PMMA.

Increasing demand for Led Flat Screens

Polymethyl Methacrylate is predominantly used in ultra-thin, new-generation flat-screen TVs, smartphones, tablets, and music players. The demand for PMMA for LGPs in LED flat screens is a major driver of the PMMA market. Apart from the traditional use of LEDs in flat screens and smartphones, it is being increasingly used in panel lights, illuminated signs, and automotive, thus driving the demand for Polymethyl Methacrylate. Polymethyl Methacrylate is flexible to mold and can match color specifications, thus ensuring uniform light diffusion through LGPs. This helps in illuminating the light uniformly and saving energy. The extensive use of LEDs for interior lighting in vehicles is, therefore, driving the demand of Polymethyl Methacrylate. The demand for Polymethyl Methacrylate is increasing because of innovations in the market. For instance, the innovative concept of an illuminated ring, which helps in placing a cup on the holder at night or a light strip outlining the running board of a vehicle is fueling the demand for Polymethyl Methacrylate.

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