Boston, MA -- (SBWIRE) -- 07/23/2012 -- Polymethyl Methacrylate (PMMA) is a transparent thermoplastic and impact resistant substitute of glass. It has good impact resistant, weather resistant and chemical resistant properties. It is light in weight, rigid and has color versatility. PMMA is used in various applications across automotive, electronics, construction, signs and displays, sanitary ware, lighting fixtures and other industries. Signs and display is a major market with largest consumption of PMMA followed by construction industry. Asia-Pacific is the largest geographic market and accounts for more than half of PMMA consumption. It is also the largest producer of PMMA. The second largest market is Europe followed by North America.
During global economic crisis PMMA market faced a decline in demand. In 2010 and 2011, the industry recovered from recession and registered significant growth. The estimated consumption of PMMA reached 1.67 million tones in 2011 globally. A boom light guided panel (LGP) based LCD screen market is one of the major drivers for this material.
Japan based Mitsubishi Rayon (including Lucite) is the largest supplier of PMMA. Some of the other major suppliers/manufactures are France based Arkema SA, South Korea's LG MMA, Taiwan's Chi Mei Corp., Germany's Evonik Industries, and Japan based Sumitomo Chemical Company Ltd and Kuraray.
Methyl methacrylate (MMA) the key raw material and BASF, LG MMA, Arkema, Chi Mei, Dow Chemicals, Evonik, Mitsubishi Rayon and Sumitomo Chemicals are the major suppliers of MMA. In first half of 2011, industry faced short supply of MMA which restricted the supply of PMMA. Now both MMA and PMMA manufacturers are expanding their capacities to meet the future PMMA demand. Companies are also investing highly on R&D activities to develop better PMMA products. This will not only increase PMMA penetration in existing applications but also broaden the range of applications.
The report covers the major PMMA applications market which includes signs & displays, construction, automotive, lightning fixtures, electronics, and sanitary ware. The major on goings in the global PMMA are analyzed with respect to market drivers, opportunities, and winning imperatives related to the industry.
Based on the grade, the global PMMA market is segmented into general purpose and optical grade. PMMA market is majorly dominated by general purpose grade PMMA which accounted for 59.1% of the global PMMA market by consumption and the rest of the PMMA market is covered by optical grade PMMA.
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