Global Market Study on Methyl Methacrylate (MMA) - Increasing Application in PMMA Production to Account for Significant Revenue Generation Opportunities


Methyl Methacrylate  Market
  • Published On : Mar-2019 |
  • Pages : 285 Pages |
  • Format :

This study on the methyl methacrylate market offers a ten-year forecast for the global methyl methacrylate market from 2018 to 2028. This study of the methyl methacrylate market considers 2017 as the base year with market values estimated for 2018 and a forecast developed for the duration of 2018 to 2028. The Compound Average Growth Rate (CAGR) in the methyl methacrylate market study has been represented from 2018 to 2028.

This methyl methacrylate market study covers various perspectives of the market, including market dynamics, value/supply chain analysis, competition analysis, segmental and regional growth comparison and macro-economic and industry growth analysis, along with segment-level projections in a comprehensive manner. As per the findings of the study and perspectives of industry participants, the global methyl methacrylate market is projected to grow at a CAGR of 3.9% between 2018 and 2028, in terms of value. High Traction of the use of PMMA in various industries such as electronics, construction, and automotive industry are positively impacting to uptake the Methyl Methacrylate in the global market.

Methyl methacrylate is one of the most prominent esters of methacrylic acid. It is a volatile, colourless and flammable liquid with moderate solubility in water. It is copolymerised with other monomers (acrylate esters, vinyl acetate, and other methacrylate) and used in large quantities for the production of acrylic polymers. Methyl methacrylate is used for the production of PMMA, which is by far the largest application of methyl methacrylate.

The PMR report on the Methyl Methacrylate market carefully analyses the market at a regional and global level through market segmentation on the basis of key parameters such as production type, application, feedstock and region. This Methyl Methacrylate market report is structured to facilitate the reader to develop a detailed understanding of the market. The Methyl Methacrylate market report begins with the definition of the market, followed by the market background, market dynamics and analysis of the market by key segments, regional analysis of the market and competition landscape. Each section of the Methyl Methacrylate market report includes a quantitative and qualitative assessment of the market on the basis of historical developments, facts and key opinions collected from various industry participants through dedicated interviews and trends in the market.

Methyl Methacrylate Market: Segmentation

Production Type

Application

Feedstock

Region

  • Chemical Synthesis
  • Recycling and Reclaiming
  • PMMA
  • Adhesives and Sealants
  • Industrial Paints and Coatings
  • Inks
  • Others
  • Acetone
  • Ethylene
  • Methanol
  • Isobutylene
  • Others (Includes PMMA Scrap)
  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa

The Methyl Methacrylate market report begins with an introduction of the market, which includes the market taxonomy and product definition with respect to the global Methyl Methacrylate market assessment. In the following section, the Methyl Methacrylate market report describes the market development background, covering industry factors and macro-economic factors affecting the Methyl Methacrylate market for the base year and also MMA recycling overview considered for the study.

The next section of the Methyl Methacrylate market report discusses the dynamics of the market such as drivers (demand and supply side), restraints, opportunities and trends impacting the market growth at a global level. Market potential for manufacturers has been presented in the following section of the same chapter. This section also includes an assessment of the impact of market dynamics on the global Methyl Methacrylate market.

Subsequent sections of the report provide value (US$ Mn) and volume (Consumption in KT) projections for the Methyl Methacrylate market on the basis of the above-mentioned segments at a global level. The values for the global market represented in these sections have been agglomerated by collecting data and information at the regional level.

All the above sections evaluate the present Methyl Methacrylate market scenario and growth prospects in the global Methyl Methacrylate market while the forecast presented in the sections assesses the market size in terms of volume and value.

Additionally, it is imperative to note that, in an inconsistent global economy, we not only conduct forecasts in terms of CAGR, but furthermore analyse the market on the basis of crucial parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the Methyl Methacrylate market and identify the accurate opportunities available.

In order to understand the key market segments in terms of growth and demand of Methyl Methacrylate across concerned regions, PMR has developed an attractiveness index, which will help providers identify real market opportunities.

Another significant feature of the Methyl Methacrylate market report is the analysis of all the key segments in the Methyl Methacrylate market, sub-segments and the regional adoption and revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market; however, the absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as identify potential resources from a sales and delivery perspective in the Methyl Methacrylate market.

In the concluding section of the Methyl Methacrylate market report, a competitive landscape of the Methyl Methacrylate market has been included to provide report audiences with a dashboard view, categorised on the basis of providers present in the value chain, their presence in the Methyl Methacrylate market and key differentiating factors and strategies. The primary category of providers covered in the report includes Methyl Methacrylate manufacturers. This section in the Methyl Methacrylate market report is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the Methyl Methacrylate market. Examples of some of the key competitors covered in this report include BASF SE, DowDuPont Inc., Mitsubishi Chemical Holding Corporation, Arkema, Evonik industries AG, S.K. Panchal and Co., LG Chem, Monómeros del Vallés S.L., NIPPON SHOKUBAI CO., LTD., Sumitomo Corporation, Shanghai Huayi Group Corp. Ltd., Heilongjiang Zhongmeng Longxin Chemical Co., Ltd. and Kowa India Pvt. Ltd.

The methyl methacrylate (MMA) report covers information on market trends, market volume (Tons) and value (US$ Mn), growth factors, competition landscape and recent developments in the global methyl methacrylate market for the forecast period 2018-2028.

The global methyl methacrylate market is estimated to hold a volume of over 5.7 Mn tons over the forecast period while growing at a CAGR of 3.4%. Rising demand for methyl methacrylate for the production of polymethyl methacrylate (PMMA) and many other polymers is projected to drive the growth of the methyl methacrylate Market during the forecast period.

global methyl methacrylate market

Increasing demand for PMMA in automotive industry

A large portion of methyl methacrylate across the globe is used for the production of polymethyl Methacrylate (PMMA) (approximately 50% of global production). polymethyl Methacrylate is extensively used in the automotive industry to produce a variety of parts and components, such as external, rear, and indicator light covers; decorative trims; ambient lighting; door entry strips; automotive glazing, etc. Some of the key features of PMMA, such as light weight, high scratch resistance, less stress birefringence, among others, make PMMA the most ideal resin for the Automotive industry.

Growth of MMAs market to be supported by paints and coatings industry

The second largest application of methyl methacrylate is the production of paints and coatings for various end-use industries. A large number of coatings, paints and inks, such as architectural and decorative coatings, automotive coatings, industrial coatings and many paints used in the construction sector, are made from methyl methacrylate.

Owing to this application of methyl methacrylate, the industrial Paints and Coatings segment is expected to grow at 4.1% CAGR, in terms of volume, over the forecast period.

Regulatory and policy support for waste PMMA scrap recycling to aid market growth

The rapid growth of plastic waste production has the potential to adversely affect the environment. In 2017, the global plastic waste production reached 4.9 billion tons. Only less than 10% of this plastic waste was recycled. Regulatory authorities are taking various steps to limit environmental damage because of plastic materials, most of which are non-biodegradable.

For instance, governments of many countries are enacting prohibitions on the sale and use of certain plastic products, such as polythene bags. Also, various countries are making stringent rules and regulation for the disposal of plastic waste and are encouraging as well as providing policy support for development of plastic recycling technologies & infrastructure.

In 2018, the European Commission started its new project “MMAtwo” with Dutch plastic recycling company Heathland B.V. and 12 other partners from six different countries representing all the stages of the PMMA value chain. For this, the 13 partners have mobilized Euro 8.9 Mn, including a Euro 6.6 Mn funding from European Union Horizon.

The aim of this project is to produce at least 12,250 tons of recycled methyl methacrylate from the supply of 27,000 tons feedstock PMMA scraps and end-of-life products. All such government initiatives across the globe for using plastic waste as feedstock to generate recycled methyl methacrylate are expected to drive the global methyl methacrylate market during the forecast period.

East Asia to remain a high volume-high value region in MMA market

Production and Consumption of methyl methacrylate in China and South Korea is anticipated to grow at a significant growth rate during the forecast period owing to increasing consumption of methyl methacrylate in the production of automotive parts and components and smart phone screens, among many other electronics parts, in the region. China and South Korea are major exporters of methyl methacrylate in the Asia Pacific, Latin America and other regions. Collectively, in terms of volume, China and South Korea is anticipated to grow and become 1.9x at the end of the forecast period.

methyl methacrylate Market – Competition Landscape

Globally, the methyl methacrylate market is highly consolidated with top players in the market holding double digit market share as of 2017. The top ten market players are expected to collectively hold between 80% - 85% market share in the global methyl methacrylate market.

In past few years, the methyl methacrylate market has witnessed many market developments from the competition perspective. Expansion of the production capacity, acquisitions and collaborations are some of the key strategies adopted by market participants to expand and sustain in the global methyl methacrylate market.

Some of the key manufacturers covered in this study on the global methyl methacrylate market are DowDuPont Inc., BASF SE, Mitsubishi Chemical Holding Corporation, Arkema, Evonik industries AG, S.K. Panchal and Co., LG Chem, Monómeros del Vallés S.L., NIPPON SHOKUBAI CO., LTD., Sumitomo Corporation, Shanghai Huayi Group Corp. Ltd., Heilongjiang Zhongmeng Longxin Chemical Co., Ltd. and Kowa India Pvt. Ltd.

Key Questions Answered in the Global methyl methacrylate Report

  • How has the methyl methacrylate market evolved over the past four years?
  • What are some of the prevailing market dynamics in the methyl methacrylate market?
  • What shape is the methyl methacrylate market expected to take in terms of volume and value during the study period?
  • What are the competition developments and trends in the methyl methacrylate market?
  • What are the important key challenges, opportunities and improvement factors for methyl methacrylate market players?
  • What are some of the underlying macro-economic and industry factors impacting the growth of the methyl methacrylate market?
  • What are the important market positioning and key strategies of key methyl methacrylate manufacturers as per the market taxonomy?
  • How is the competition structured at present and how has it evolved in the methyl methacrylate market over the past few years?

Company Profiles

  • Arkema Group
  • BASF SE 
  • DowDuPont Inc.
  • Evonik Industries Ag
  • Sumitomo Chemical Co., Ltd.:
  • LG Chem 
  • NIPPON SHOKUBAI CO., LTD.
  • Kowa India Pvt. Ltd.
  • Heilongjiang Zhongmeng Longxin Chemical Co., Ltd.
  • Shanghai Huayi Group Corp. Ltd.
  • Monómeros del Vallés S.L.
  • S.K. Panchal & Co.
  • Others.
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