Synthetic and Bio-based Polymethyl Methacrylate Market growth is positively influenced by strong application scope in automotive, electronics, and sign & display industry.
Sellbyville, DE -- (SBWIRE) -- 02/05/2019 -- Synthetic & Bio PMMA Market size is driven by growing consumer awareness pertaining to lightweight commercial vehicles with better fuel efficiency along with strict regulations to control pollution levels for transportation and automobile applications. It is preferably used due to certain properties such as low cost and easy processing, and handling. Synthetic & Bio PMMA Market size should exceed USD 11 billion by 2022; according to a new research report by Global Market Insights, Inc.
Strong application scope in construction, automotive, signs & displays should drive product demand. Increasing demand for outdoor signage & light box, displays, and door & window cover may fuel extruded PMMA sheets market growth.
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Healthcare applications may witness significant gains at over 5.5%. Positive indicator in healthcare & medical industry in manufacturing cuvettes, syringes, dentures, and bone cements should drive product demand.
Methanol, acetone, and ammonia are key raw materials used for manufacturing process which generate toxic waste & possess environmental threat, may challenges industry profitability and affect PMMA market price trend. However, strict government guidelines to control GHG emissions should favor biobased PMMA market size.
U.S. polymethyl Methacrylate demand from construction applications is set to exceed USD 200 million by 2022. It is used for making door panels and windows which protects against UV and chemical resistance and other climatic conditions.
China PMMA market size expects gains at above 7.5%. Increasing LED panels demand in manufacturing TVs and flat screens should drive regional growth. Increasing disposable income levels along with rapid industrialization should drive regional product demand.
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Europe PMMA market size from electronics applications should witness gains at over 4%. Properties like scratch resistance, light transmission, and surface hardness may favor product demand in electronics industry for display units in this region.
Polymethyl methacrylate beads may witness highest gains over the forecast timeframe. They are used as functional additives in industrial & architectural coatings, ceramics, and adhesive applications.
Automotive applications in Brazil may witness significant gains at over 6.5%. Increasing consumer awareness towards lightweight vehicles along with demand for better fuel efficiency should drive polymethyl methacrylate market size.
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PMMA Pellet may witness significant gains as it finds usage in sign & display, healthcare, automotive, and fashion & apparels industry. These products are available in different color variety and have the property to be modified in desired size & shapes.
Global PMMA market share is moderately concentrated with top four companies catering to majority of the industry demand. Mitsubishi Rayon, Arkema, Sumitomo Chemicals, Chi Mei Corp Evonik, Kuraray Group, SABIC, LG MMA, Makevale Group, and Dow Chemical are some of the key industry participants.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.