Methyl Methacrylate Market 2022
Global methyl methacrylate (MMA) Market to Register a Volume CAGR of 3.4% during 2018–2028; MMA Application in the Production of PMMA (Polymethyl Methacrylate) is Estimated to Account for Major Share of Consumption During the Forecast Period.
The report reveals that the application of methyl methacrylate for the production of PMMA is projected to account for a major share of consumption (~50%) during the forecast period. The global methyl methacrylate market is pegged at approximately 3.9 Million Tons in terms of volume at present and is expected to expand with a CAGR of 3.4% to reach ~5.7 Million Tons by the end of 2028.
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methyl methacrylate (MMA) is a synthetic compound with the chemical formula CH2=C(CH3)COOCH3. It belongs to a group of organic compounds known as metacrylates. MMA is a clear and colorless liquid that is insoluble in water but miscible with most organic solvents. methyl methacrylate monomer has a sweet, acrid odor and is flammable.
Key Companies-
- 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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On the basis of production type, the methyl methacrylate market can be segmented into chemical synthesis and recycling & reclaiming MMA monomer. Chemical synthesis MMA is widely used around the globe in the production of paints and coatings, PMMA or acrylic sheet, adhesives & sealants in various end-use industries. While recycling and reclaiming MMA monomers are made from recyclable industrial PMMA scrap or end-of-life products, the chemical synthesis segment of the global methyl methacrylate market is estimated to account for more than 94% of the total absolute $ opportunity created over the forecast period.
Methyl methacrylate finds various applications in the production of a variety of products. The largest application of methyl methacrylate is in the production of PMMA, which accounts for approximately 50% of the consumption. PMMA is used in various end-use industries such as automotive and electronics for the manufacturing of automotive parts and components (windshields, lighting display and door strip, among others) and displays of electronic products (smartphone screens). The second largest application of methyl methacrylate is the production of a variety of paints, coatings, and inks such as automotive coatings, architectural and decorative paints and coatings. The industrial paints and coatings application of the methyl methacrylate market is estimated to account for more than 42% of the total incremental $ opportunity created over the forecast period.
A number of methods can be used for the production of methyl methacrylate – acetone cyanohydrin (ACH) based, ethylene based, acetone, HCN and methanol based and methyl formate based, amongst others. Manufacturers such as Evonik Industries are investing in commercializing alternative production methods to reduce the harmful effects of cyanide and the overall operation and production costs.
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Key Questions Answered in Methyl Methacrylate Market Report –
Who are the Major Manufacturers and Suppliers of Methyl Methacrylate?
What will the Methyl Methacrylate Market growth rate in Future?
What are the key factors driving the global Methyl Methacrylate Market?
Who are the key manufacturers in Methyl Methacrylate Market space?
What are the opportunities and threats faced by the vendors in the global Methyl Methacrylate industry?
What are sales, revenue, and price analysis by regions of Methyl Methacrylate industry?
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