The global Polymethyl Methacrylate (PMMA) Market is expected to gain a significant CAGR during the forecast period. Polymethyl Methacrylate, often termed as PMMA, is a commonly used thermoplastic polymer in daily life. PMMA is the most commercially used acrylic polymer and is available under various brand names. PMMA is a widely preferred replacement for glass since it is highly transparent that is more vulnerable to serious impact. PMMA is much compatible to the human tissue that makes it important in the field of prosthetics and ophthalmology due to its transparent properties.
Chemically, PMMA is formed due to emulsion or polymerization of methacrylic acid. The mechanical and optical properties of PMMA absorb traceable amounts of UV radiation owing to transparent nature. The small amount of absorbed radiation is energy deficient and synthesizes the molecular bonds within the material.
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Polymethyl methacrylate market is driven by increase in digitization of rural areas and the rise in need for advertisement options in the retail industry. PMMA is used across various industries due to its features comprising high thermal & chemical resistance, abrasion resistance, and low smoke emission.
By product, the PMMA market segmentation comprises extruded sheets, acrylic beads, and pellets. Extruded sheets dominate the product segment due to rise in market share and significant demand for high performance sheets in industrial domain. End-use segmentation for polymethyl methacrylate industry involves electronics, construction, automotive, and signs & displays. Advertising and signs & displays are likely to witness a significant CAGR during the forecast period.
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Geographically, the polymethyl methacrylate market is segmented into North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific region is likely to gain a significant CAGR during the forecast period. Rise in per capita income majorly contributes to the market growth and automotive sales.
Key players profiled in the polymethyl methacrylate (PMMA) industry report are Evonik Industries, Mitsubishi Rayon Group, Kuararay Group, Asahi Kasei Corporation, LG MMA Group, Makevale Group, The Dow Chemical Company, Shanghai Jing-Qi Polymer Science Co, and Polycasa N.V.