Polymethyl Methacrylate (PMMA) is a synthetic resin produced from the polymerization of methyl methacrylate. It is a transparent and rigid plastic that is commonly used in shatterproof windows, skylights, illuminated signs, and aircraft canopies.
Portland, OR -- (SBWIRE) -- 11/22/2017 -- The aim of the Polymethyl Methacrylate (PMMA) Market report is to analyze the present and estimated trends of the global specialty chemical market, as the demand of the product is expected to rise. The report provides a comprehensive analysis of the market potential in various industry applications. The study is focused on the opportunity of the emerging economies of the globe, so that companies can strategically make region specific plans and gain competitive edge.
The LCD light guide made from PMMA provides brighter light than the conventional guide panels. Therefore, PMMA is widely used in LCD light guide and the growth of LCD market drives the PMMA market as well. In addition, PMMA's advance applications in electronic and automotive market also increase its usage. Moreover, the manufacturers of PMMA are spending a substantial amount of money in R&D and focusing towards its capacity plans. The deficiency of raw material for the production of PMMA is the major restraint for the market growth. Due to the scarcity of raw material, manufacturers are unable to produce the material in bulk. PMMA is used in various industries such as automotive, electronics, construction, signs & displays, sanitary ware, etc. The economic growth of these industries would drive the market for PMMA in long run.
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Application Market Analysis:
On the basis of application, the market is segmented into automotive, electronics, construction, signs & displays, sanitary ware, lighting fixtures and others. Due to its excellent properties such as transparency, water resistance, light weight and rigidity, PMMA is largely used in sign and display industries for the manufacturing of LCD display panels.
The major players dominating the global Polymethyl Methacrylate market are Arkema SA, Chi Mei Corporation, Kuraray Co Ltd., Asahi Kasei Corporation, Evonik Industries AG, Makevale Group, Quinn Plastic, Saudi Basic Industries Corporation (Sabic), LG MMA Corporation, Mitsubishi Rayon Co. Ltd, and Sumitomo Chemical Company Limited. Mitsubishi Rayon and Saudi Basic Industries Corporation (SABIC) signed a joint venture agreement to build MMA and PMMA plants in Saudi Arabia.
- The analysis helps in understanding the strategies adopted by various companies for the growth of the global PMMA market
- The market conditions of this product across all geographic regions are comprehensively analyzed
- Porter's five forces model gives a in-depth analysis of the bargaining power of buyers & suppliers, threats of new entrants & substitutes and competition amongst the key market players