Methyl Methacrylate (MMA) Market Foreseen to Grow Exponentially over 2025
Asia Pacific represents the largest market for MMA, as a result of its high demand in countries such as China, Japan, Taiwan, and South Korea, which are house some of the major electronic companies of the world. Hence, the MMA market in Asia Pacific is set to retain Asia-Pacific is the fastest-growing PMMA market, in terms of both value and volume, and is expected to retain its leading position due to its immense future potential.
In North America, USA represents the biggest MMA consumer market. The presence of various automotive and electronic companies are the main reasons for high demand for the MMA market in this region. However the US market is currently hit by a shortage of supply in MMA.
The increasing infrastructure and development in the Middle East has led to an increase in the demand for MMA in this region. Joint ventures and consolidation of major industry players, with regional manufacturers are expected to boost the MMA market positively, in this region. The growth of the construction market in various developing counties of Africa has provided the MMA market with ample growth opportunities here.
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The availability of disposable income in Latin American countries, has led to an increasing demand for automobiles, electronics, and the development of the housing sector in these countries.
The decrease in the production of MMA in Asia has adversely affected the MMA market in Europe, as Europe is a net importer of MMA and is highly dependent on Asia for its imports. Hence the MMA market in Europe is sluggish and depends on Asia for its growth.
Saudi Methacrylates Company (SAMAC), located in Al-Jubail, Saudi Arabia, constructed a methyl methacrylate (MMA) plant, which is the biggest plant in the world. SAMAC is a joint venture (JV) between Mitsubishi Rayon (MRC) and Sabic, which was commissioned early in 2017. Major players in the market include Mistsubishi, Rayon, Evonik Industries, The Dow chemical Company, Sumitomo chemicals, BASF, Arkema, and Chi Mei Corporation among others.
The most important source of MMA production is through acetone cyanohydrins, which is hydrolyzed with sulfuric acid to manufacture MMA. It is used in vehicles as windshields, and external, rear and indicator light covers. Methacrylic Acid (MAA) is used as a chemical intermediary as well as in the production of coating polymers. Manufacturers utilize the PMMA as a shatterproof alternative to glass in illuminated signs. As PMMA is light and resistant to salt, it is used for the construction of windows in the marine industry. It is used to produce canopies for planes, due to its light weight and temperature, and unsurpassed weather resistance. PMMA is also used in the production of sports equipment such as racquets, helmets.
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Methyl Methacrylate (MMA) Market Taxonomy:
On the basis of source, the global methyl methacrylate market is classified into:Acetone cyanohydrin, PropionaldehydeMethyl propionateIsobutyric acidMethyl acetyleneIso butylenes, Methacrylonitrile, Methacrolein
On the basis of products, the global methyl methacrylate market is classified into:Poly methyl methacrylate (PMAA), Methacrylic acid (MAA), Methyl methacrylate-butadiene-styrene (MBS), Ethyl methacrylate (EMA), Butyl methacrylate (BMA), 2-ethyl hexyl methacrylate(2-EHMA)
On the basis of application, the global methyl methacrylate market is classified into:Transparent glass substitute, Daylight redirectionMedical implants, Lenses, Resin, Surface coatings, Adhesive, Emulsion polymersGrout
On the basis of end user, the global methyl methacrylate market is classified into:Construction, Automotive, Electronics, Sports, Aviation, MedicalPaints
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