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.
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Among applications, the polymethyl methacrylate (PMMA) segment accounted for the largest market share in 2018, 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.
Other applications of methyl methacrylate include panels and lighting displays, outdoor lighting fixtures, plumbing fixtures and components, PVC impact modifiers, metal & foil coatings, floor polishes, sealants, inks, packaging, textile finishes, industrial finishes, and shatterproof glass replacements.
Among end-use industry, the building & construction segment accounted for significant market revenue share in the global methyl methacrylate market in 2018. This is owing to significant growth in the building & construction sector. For instance, the residential construction sector was valued at US$ 515.9 billion in 2017, which was witnessed a 10.6 % increase over 2016 in the U.S. according to the data provided by the U.S. Census Bureau. Building & construction industry 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.
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The global methyl methacrylate market was valued at US$ 7,191.1 million in 2018, and is expected to register a CAGR of 4.5% in terms of revenue over the forecast period (2019 – 2027), to reach US$ 10,640.2 million by 2027.
Major players operating in the 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, Asahi Kasei Corporation, and DowDuPont. Inc.
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