U.S. Polymethyl Methacrylate Market Size, Share & Trends Analysis Report By Form (Extruded Sheet, Cast Acrylic Sheet, Pellets, Beads), By Grade, By Application, And Segment Forecasts, 2023 - 2030

U.S. Polymethyl Methacrylate Market Size, Share & Trends Analysis Report By Form (Extruded Sheet, Cast Acrylic Sheet, Pellets, Beads), By Grade, By Application, And Segment Forecasts, 2023 - 2030

U.S. Polymethyl Methacrylate Market Growth & Trends

The U.S. Polymethyl Methacrylate market size is expected to reach USD 1.76 billion by 2030, according to a new study by Grand View Research, Inc. The market is projected to expand at a CAGR of 5.4% from 2023 to 2030. Polymethyl Methacrylate (PMMA) is one of the world’s most widely used transparent thermoplastic substitutes for glass.

Transparent polymethyl methacrylate sheets, which are utilized all over the world as protective barriers to stop the spread of the virus, have seen a large increase in demand as a result of the coronavirus epidemic. Spot prices for PMMA resin have increased as a result of increased demand from the sheet industry; some players have reported a 25% increase over the last year. In the second phase of barrier installation, sheets will be introduced to offices, additional retail establishments, and possibly public transportation. Shops and pharmacies are also looking at installing the barriers permanently. The best polymer to use would be PMMA sheets because they can be disinfected without losing their appearance or transparency. As a result, PMMA is more in demand than polycarbonate and polyethylene terephthalate-glycol.

The growing use of plastics as a result of the increased focus on manufacturing light vehicles is helping spur the demand for PMMA in automobile production. Stringent vehicle emission norms worldwide will additionally lend traction to growth in this sector. PMMA liquid membrane roofing system is a major advancement in the market, used in a wide range of applications including plaza decks, garden roofs, small roofs, and irregularly shaped roofs. The PMMA liquid membrane system is widely used in roofing crews owing to several benefits such as substrate compatibility, ease of use, speed, and versatility.

Growing healthcare spending is spurring the demand for PMMA in the production of medical devices. Historically, medical applications of PMMA have been limited to its usage as bone cement and dental fixture. It is gaining prominence in medical devices such as cuvettes, incubators, and desiccators as an alternative to other medical polymers such as PC and PVC. Its superior biocompatibility and non-carcinogenic nature are expected to drive its demand in medical devices.

Major players in the market are involved in new product launches, mergers and acquisitions, and collaborations to sustain the market competition. For instance, On July 19, 2021, Trinseo, a global manufacturer of plastics, latex binders, and synthetic rubber, made an agreement with SK AA Holdings, LLC, an affiliate of Falcon Private Holdings, LLC, to acquire Aristech Surfaces LLC, a leading North American manufacturer and global provider of polymethyl methacrylates (PMMA) continuous cast and solid surface sheets, serving the wellness, architectural, transportation, and industrial markets, for a value of USD 445 million.

In May 2021, Trinseo completed the acquisition of Arkema’s polymethyl methacrylate (PMMA) business. The transaction was valued at USD 1.36 billion. The PMMA business is integrated from the production of methyl methacrylate (MMA) to PMMA, marketed under the brands Plexiglas in the Americas and Altuglas in the rest of the world. There are seven production sites, with four in Europe and three in North America.

U.S. Polymethyl Methacrylate Market Report Highlights

• The automotive segment witnessed the fastest growth in 2022. The use of PMMA in automotive plastics, in addition to weight reduction, also helps minimize vehicle vibration, cabin insulation, and noise control while enhancing aesthetics. Specialty products such as optical-grade plexiglass, compact disk plexiglass, and radiation-shielding plexiglass are expected to offer lucrative growth potential
• On February 25, 2022, Sumitomo Chemical decided to establish a new MMA Division as of April 1, 2022, to strengthen its MMA business, which includes methyl methacrylate monomer and polymethyl methacrylate. The new division will take charge of strategy formulation and global marketing and sales for the business as a whole
• On August 4, 2021, Mitsubishi Chemicals announced that the company is planning to construct a new resin production plant in the U.S. The plant will be located in Louisiana and will be producing methyl methacrylate (MMA). The total cost of the plant will be around USD 915 million with a production capacity of 350,000 tons/year. The investment will boost the supply of Methyl Methacrylate (MMA) in the US which is used to manufacture acrylic plastics and has applications in a wide range of products, including auto parts and paints. The factory will start production in 2025, working at a full capacity of 350,000 tons/year, making the plant the largest in the world and catering to around 10% of the total global MMA demand