The global polymethyl methacrylate (PMMA) market size reached a significantly robust value in 2020 and is expected to register a double-digit revenue CAGR over the forecast period. Major factors driving market revenue growth include increasing adoption of Polymethyl Methacrylate (PMMA) in automobile applications, coupled with rising demand from construction transportation industries. Rapidly growing electrical and electronics industries is another factor resulting in rising demand for PMMA, which in turn, is expected to drive global market growth to a significant extent going ahead.
Top Companies Operating in the Global Polymethyl Methacrylate (PMMA) Market:
Arkema SA, Evonik Industries AG, Chi Mei Corporation, Mitsubishi Rayon Co., Ltd, Saudi Arabia Basic Industries Corporation, PolyOne Corp., Kolon Industries, Inc., Sumitomo Chemical Co., Ltd., Shanghai Jing-Qi Polymer Science Co., Polycasa N.V., Asahi Kasei Corporation, Gehr Plastics, Inc., Kuraray Group, and The Dow Chemical Company.
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Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
The adoption of digital technologies by oil, gas, and chemical firms has been fueled primarily by cost savings and greater reliability. Many organizations in these areas saw excellent benefits from advanced market sensing, improved operational optimization, and expanded usage of "in silico" simulations. Companies' existing digital technologies provided an advantage with the abrupt entrance of COVID-19 and the accompanying shutdown of facilities and work sites, but they were often insufficient for the level of remote working and cybersecurity that was suddenly required.
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
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The Polymethyl Methacrylate (PMMA) market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Polymethyl Methacrylate (PMMA) market.
The global Polymethyl Methacrylate (PMMA) market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Product Outlook (Revenue, USD Billion; 2018 – 2028)
- Extruded Sheets
- Pellets
- Acrylic Beads
- Others
Application Outlook (Revenue, USD Billion; 2018 – 2028)
- Signs Displays
- Building Construction
- Automotive Industry
- Transportation Industry
- Lighting Fixtures
- Electrical Electronics Industry
- Others
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