Global Methyl Methacrylate (MMA) market is estimated to be valued at US$ 7,510.7 Million in 2021, according to Methyl Methacrylate (MMA) Market Report, 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), published by Coherent Market Insights.
Global Methyl Methacrylate (MMA) market was valued at US$ 7,510.7 Million in 2021. Methyl Methacrylate (MMA) market is expected to register a CAGR of 4.9% over the forecast period (2022–2030). The Asia Pacific region is expected to dominate market over the forecast period and is projected to be the largest and fastest-growing region.
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Browse 50 market data tables* and 40 figures* on "Global Methyl Methacrylate (MMA) Market” - Forecast to 2030.
Key Trends and Analysis of the Global Methyl Methacrylate (MMA) Market:
- Emergence of bio-based Methyl Methacrylate (MMA) products coupled with increasing demand for MMA in the automotive, construction, aerospace, and electronics industries is expected to boost growth of the methyl methacrylate market over the forecast period. Furthermore, the demand for specialty MMA products that include optical grade plexiglass, compact disk plexiglass, and radiation shielding plexiglass is witnessing significant increase as MMA is a better solution to transparent glass. PMMA liquid membrane roofing systems are used in a wide range of applications including plaza decks, garden roofs, small roofs, and irregular shaped roofs. According to the Institution of Civil Engineers, the global construction market is expected to reach US$ 8 trillion by 2030, driven by China, the U.S., and India. Therefore, significant growth in the construction sector is expected to increase demand for MMA-based products in the construction industry.
Key Takeaways of the Global Methyl Methacrylate (MMA) Market:
- Asia Pacific accounted for the largest revenue share of in the global methyl methacrylate market. Major factors driving growth of market in the region include increasing demand for MMA from the electronics and automotive industry in countries such as China, Japan, India, and South Korea that house some of the major electronic companies such as Huawei Technologies Co. Ltd., Lenovo Group Ltd., and OnePlus.
- Among end-use industry, the building & construction segment accounted for significant market revenue share in the global methyl methacrylate market in 2021. This is owing to significant growth in the building & construction sector. For instance, the residential construction sector was valued at US$ 1,778.9 Million in 2022, which witnessed a 9.7% increase over 2021 in the U.S. according to the data provided by the U.S. Census Bureau. Building & construction industry that uses MMA for making products such as windows, domes, and port-holes. Therefore, increasing uses of MMA in the building & construction sector is expected to contribute to growth of the methyl methacrylate market over the forecast period.
- Latin America is expected to witness the fastest growth in the global methyl methacrylate over the forecast period. This is owing to increasing demand for electronics and automobiles and significant growth of the construction industry in Brazil and Argentina. According to the U.S. International Trade Administration, Brazil has the largest automotive market and is the largest producer of automobiles in South America, with sales of over US$ 1.4 million units in 2021.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities are key strategies adopted by players in the global Methyl Methacrylate (MMA) market
