Methyl methacrylate mma market

Methyl Methacrylate Mma Market, by Application (Polymethyl Methacrylate (PMMA), Surface Coating, and Others), by End-use Industry (Building & Construction, Automotive, Electronics, Aerospace, Paints & Coatings, Medical, and Others), and by Region (North America, South America, Asia Pacific, Europe, and Middle East & Africa) Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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Jul 2022
CMI569
208 Pages
Excel & Pdf
Bulk Chemicals

Summary

Methyl Methacrylate (MMA) is a monomer and is also known as methacrylic acid or methyl ester. Major applications of methyl methacrylate include, vinyl impact modifiers, illuminated light displays, adhesives, safety gazing, exterior paints, and others. MMA finds applications in various end-use industries such as building & construction, electronics, automotive, aerospace, paints & coating, medical, and others. Increasing demand for MMA from end-use industries is expected to propel growth of the global methyl methacrylate market.

Global Methyl Methacrylate (MMA) market was valued at US$ 7,510.7 Million in 2021 in terms of revenue, exhibiting a CAGR of 4.9% during the forecast period (2022 to 2030).

Drivers

Increasing demand for MMA adhesives from the automotive & transportation industry is one of the major drivers for the MMA Adhesives market. Automotive & transportation is the largest application because of the increasing use of advanced materials for component manufacturing, which develops a need for bonding technology that can bond dissimilar materials with adjustable assembly time. Metal is the largest substrate, in terms of value, and is expected to dominate the market in the future. Increasing vehicle production leads to high demand for methyl methacrylate as it is used in automotive interior and exterior parts such as windows, windshields, panels, trim, bumpers, and fenders. This is owing to properties of MMA such as good surface hardness, abrasion resistance, and UV resistance.

Methyl methacrylate is use for the production of paints and coatings for many end-use industries. The large number of paints, coatings and inks, used by automotive coatings, architectural and decorative coatings industrial coatings and many others in the construction sector which has made from methyl methacrylate. The growing market of the coating industry is driving the market for Methyl Methacrylate (MMA) around the globe.

Among region, Asia Pacific accounted for the largest market share in the global methyl methacrylate market in 2021, owing to increasing demand for electronics and automobiles supported by increasing population and disposable income of the populace in the region. According to the International Organization for Motor Vehicles Manufacturers (OICA) report in November 2021, the motor vehicle production in Asia Pacific was around 78.77 million units in 2020, which increased to 82.68 million units in 2021.

Figure 1. Global Methyl Methacrylate (MMA) Market Value Share (%), By Region, 2021

Market Restraints

Adverse effects of MMA on human health are expected to hinder growth of the market. According to the European Chemicals Agency, methyl methacrylate is reported to cause irritation in skin, eyes, and mucous membranes in humans. Adverse respiratory effects are reported in humans following acute and chronic exposures to MMA. Respiratory symptoms were observed following acute exposures including tightening of chest, dyspnea, coughing, and wheezing amongst others. Neurological symptoms such as cluster headaches have also been reported in humans following acute exposure to MMA. This scenario is expected to hamper growth of the methyl methacrylate market over the forecast period.

Methyl Methacrylate Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2021:	7,510.7 Mn
Historical Data for:	2017 to 2021	Estimated Year:	2022
Forecast Period 2022 to 2030 CAGR:	4.9%	Forecast Period:	2022-2030
Geographies covered :	Region: North America, Latin America, Europe, Asia Pacific,Middle East & Africa
Segments covered:	By Application: Polymethyl Methacrylate (PMMA), Surface Coating, Others By End-use Industry: Building & Construction, Automotive, Electronics, Aerospace, Paints & Coatings, Medical, Others
Companies covered :	BASF SE, Evonik Industries AG, Arkema Group, The Dow Chemical Company, Akzo Nobel N.V., Sumitomo Chemical Company Limited, Chi Mei Corporation, Huntsman Corporation, Kolon Industries, Karl Jungbecker GmbH & Co. KG, Dhalop Chemicals and Saudi Methacrylate Company.
Growth Drivers:	Increasing demand for MMA from various end-use industries such as building & construction, electronics, automotive, aerospace, among others Rising use of paints and coatings
Restraints & Challenges:	Adverse effects of Methyl Methacrylate (MMA) on human health.

Market Trends

The booming automotive sector may unlock a treasure of growth opportunities for the methyl methacrylate market. Methyl methacrylate is used on a large scale in interior and exterior parts such as windshields, trim, fenders, bumpers, and trim. The properties of methyl methacrylate such as abrasion resistance, UV resistance, and good surface hardness make them an ideal fit for the use in the production of certain parts of the vehicles. Thus, the increase in the production of automobiles is directly proportional to the growth of the methyl methacrylate market.

Figure 2. Global Methyl Methacrylate (MMA) Market Value Share (%), By Application, 2021

Among application, the polymethyl methacrylate (PMMA) segment accounted for the largest market share in 2021, in terms of revenue. PMMA is a transparent thermoplastic synthesized by polymerization of methyl methacrylate. It is also known as acrylic glass. PMMA is extensively used in the manufacturing of various automotive parts and components, door entry strips, automotive glazing, indicator light covers, and decorative trims. This is owing to key features of PMMA such as light weight, high scratch resistance, durability, gloss, rigidity, stability, and strength.

Recent Developments

In April, 2022, Sumitomo Chemical decided to establish a new MMA Division to strengthen its MMA business, which includes MMA (methyl methacrylate) monomer and acrylic resin (PMMA, polymethyl methacrylate). Sumitomo Chemical Ltd. is a Japanese company that produces and markets various types of chemicals. The new division will take charge of strategy formulation and global marketing and sales for the business as a whole.
In February, 2022, Mitsubishi Chemical (MCC; Tokyo) and its subsidiary Mitsubishi Chemical Methacrylates (MCM) developed a manufacturing technology for MMA (methyl methacrylate) monomers that uses plant-derived materials and have begun designing a pilot plant. Mitsubishi Chemical Corp. is a manufacturer of chemicals and chemical derivatives. Applying plant-derived raw materials to the existing process will enable the production of MMA using 100% bio-derived carbon.
In December 2020, Trinseo announced the acquisition of Arkema's PMMA business for US$ 0.17 Million. Trinseo is a global materials company, focusing particularly on the manufacture of plastics, latex, and synthetic rubber. The acquisition will accelerate the growth of Trinseo's global engineering materials business and will bring about US$ 50 million in synergy.

Competitive Section

Major players operating in the global methyl methacrylate market include BASF SE, Evonik Industries AG, Arkema Group, The Dow Chemical Company, Akzo Nobel N.V., Sumitomo Chemical Company Limited, Chi Mei Corporation, Huntsman Corporation, Kolon Industries, Karl Jungbecker GmbH & Co. KG, Dhalop Chemicals, and Saudi Methacrylate Company.

Table of Content

Table of Contents

* Browse 50 market data tables* and 40 figures* on “Global Methyl Methacrylate (MMA) Market” - forecast to 2030.

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Methyl methacrylate mma market

Methyl Methacrylate Market Report Coverage

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