According to a recent market research report titled “Polymethyl Methacrylate Market by Grade, Form, and End-Use Industry – Global Forecast to 2029”, the global PMMA market is forecasted to expand from USD 5.1 billion in 2024 to USD 6.1 billion by 2029, registering a compound annual growth rate (CAGR) of 3.4%. This growth is primarily driven by the rising demand in sectors like construction, automotive, and electronics.
Despite this promising outlook, the market faces notable hurdles such as growing competition from alternative materials and environmental concerns regarding plastic usage. Nevertheless, advancements in bio-based PMMA alternatives and innovation in product types are anticipated to open new avenues for industry players.
The comprehensive report comprises 499 market data tables, 61 figures, and spans 343 pages, providing an in-depth analysis of the global PMMA market landscape.
Key Companies in the Market Include:
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Trinseo S.A. (US)
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SABIC (Saudi Arabia)
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Röhm GmbH (Germany)
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Asahi Kasei Corporation (Japan)
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Mitsubishi Chemical Group Corporation (Japan)
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LX MMA (South Korea)
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CHIMEI Corporation (Taiwan)
Market Driver: Automotive Sector Growth
The rapid expansion of the automotive industry is playing a pivotal role in fueling PMMA demand. Increased investments and vehicle production volumes are encouraging the use of PMMA for various automotive applications such as taillights, windshields, instrument panels, and headlamp lenses. Data from the International Organization of Motor Vehicle Manufacturers (OICA) indicates a notable 11.9% rise in motor vehicle sales from 2022 to 2023, further supporting market momentum.
Fastest-Growing Segment: Optical Grade PMMA
Optical grade PMMA is projected to be the fastest-expanding segment during the forecast period. Its advantages—lightweight compared to glass, high light transmission, superior visibility, and impact resistance—make it highly desirable in automotive lighting, EV components, and architectural applications like skylights and canopies.
Regional Outlook: Asia Pacific Leads
The Asia Pacific (APAC) region is set to dominate the global PMMA market due to strong demand from the automotive and construction industries. Nations like Thailand, Vietnam, and India are witnessing a surge in construction activities. Simultaneously, automotive manufacturing and rising vehicle ownership are climbing, especially in markets like China, which is also emerging as a key exporter of electric vehicles (EVs).
