Methyl Methacrylate (MMA) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Methyl Methacrylate (MMA) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Methyl Methacrylate Market

The methyl methacrylate market size was valued at USD 12.57 billion in 2019, and the market is now projected to grow to USD 23.45 billion by 2027, exhibiting a CAGR of 8% during the forecast period of 2024-2032.

The coronavirus occurrence has had a severe and rapid impact on the automotive industry which in turn will effect methyl methacrylate market growth. The continuing worldwide lockdown has interrupted the Chinese automotive parts export and large-scale trade Europe as it is the foremost production hub and final of numerous assembly plants. An emphasis on capital expenditure and support from the government for financial recovery will support to overcome the disaster and generate new prospects in the automotive sector.

The growing methyl methacrylate use in the construction industry is motivating the recovery of the building & construction. Rapid development, rising population, and rise in buying parity are the significant factors motivating the construction market. In the construction industry, MMA adhesives are used in windows, canopies, architectural components, panels, doors, and others due to its sturdiness and ongoing properties. Acrylic materials based on methacrylate monomers are extensively used in the construction sector. They help as a binder for the concrete admixture, industrial flooring, reactive road making, liquid waterproofing compounds, and concrete repair compounds on account of its easy procedure and remedial capability at low temperature.

The sulphuric acid used in the procedure of acetone cyanohydrin (ACH) for methyl methacrylate manufacturing can be reprocessed and redeveloped or recycled in the same method. Otherwise, the used sulphuric acid can be converted into ammonium sulphate, a useful fertilizer, where the sulphuric acid can be used to produce two products. When heated, PMMA is split into its original monomer, MMA. This method is called depolymerization, which is used to recycle PMMA technologically and manufacture MMA that can be operated again. They redeveloped from PMMA has a tremendously high purity level.

Comprehensive Analysis of Methyl Methacrylate Market

The market can be segmented in various ways, depending on the focus of analysis such as by application and by end use. Based on application, the market is classified into chemical intermediate, surface coatings, and emulsion polymer. Based on end use, the global market is segmented into buildings & construction, automotive, electronics, paints & coatings, and others.

North America region is dominating the methyl methacrylate market share due to growing consumption of PMMA in the construction and automotive industries.

The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Arkema (France), Sumitomo Chemical Company (Japan), Dhalop Chemicals (India), Kuraray Group (Japan), Saudi Methacrylates Company (SAMAC) (Saudi Arabia), The Dow Chemical Company (U.S.), Asahi Kasei Corporation (Japan), Huntsman Corporation (U.S.), Lucite International (UK), Mitsubishi Chemical Corporation (Japan), Other Key Players these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In February 2020, Mitsubishi Chemical plans to set up MMA plant on the U.S. Gulf Coast by 2024. The plant would have a capacity of about 250,000 to 350,000 tons per year. The plant will be based on the Alpha Technology, which develops methyl methacrylate from methanol, carbon monoxide, and ethylene.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2016-2027

Base Year 2019

Forecast Period 2020-2027

Historical Period 2016-2018

Unit Value (USD Billion) and Volume (Kilo Tons)

SegmentationBy Application

Chemical Intermediate

Surface Coatings

Emulsion Polymer

By End-Use

Buildings & Construction

Automotive

Electronics

Paints & Coatings

Others

By Geography

North America (U.S., and Canada)

Europe (Germany, UK, France, Italy, Turkey, and Rest of Europe)

Asia Pacific (China, India, Japan, South Korea, and Rest of Asia Pacific)

Latin America (Brazil, and Rest of Latin America)

Middle East & Africa (South Africa, and Rest of Middle East & Africa)


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