PMMA Market to See 6.2% Annual Growth Through 2023

Industry Boosted Increased use of PMMA in Construction and Architecture Markets

September 04, 2019

WELLESLEY, Mass., Sep 04, 2019– Higher disposable incomes coupled with an increased use of PMMA in construction, architecture and electronics sectors will increase demand for PMMA, according to a report by BCC Research, “PMMA: Market Overview and Top Ten Companies.”

The market expects to see a compound annual growth rate (CAGR) of 6.2% through 2023, when it could be worth $5.9 billion.

Major players in the market include: Arkema (AKE), Lotte Chemical (011170) and Mitsubishi Chemical (MTLHF).

Research Highlights

  • In terms of volume, the market witnessed a consumption of 2 million metric tons of PMMA in 2017, and is to reach 2.3 million metric tons by 2023, growing 1.9% annually.
  • By region, Asia-Pacific was the largest PMMA market in 2018 and is expected to reach almost $3 billion, growing 6.4% annually.
  • The RoW region is the fastest-growing global market, as it is expected to grow 8.7% annually through 2023.

Read the full report here:

“Despite the considerable number of growth drivers, the PMMA market faces challenges that could impede market growth,” write BCC Research analysts. “One of the major challenges faced by PMMA manufacturing companies is the waning of demand in Europe due to its rising unemployment rate, overleveraged banks and policy spill overs in currency, all of which are discouraging vendors from investing in European markets. Another challenging factor faced by PMMA manufacturing companies is volatility in raw material prices.”

Hope for the PMMA Market

Despite these challenges, trends such as the growing importance of bio-based PMMA, technological innovations, shift in manufacturing facilities from west to east and increasing demand for PMMA dermal fillers are positively aiding the growth of the market.

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PMMA: Market Overview and Top Ten Companies( CHM125A )
Publish Date: Aug 2019    

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