Styrene Methyl Methacrylate Market Scope
The Styrene Methyl Methacrylate SMMA market is anticipated to expand at a steady pace in the near future due to the superior mechanical properties and low cost of SMMA. Styrene methyl methacrylate (SMMA) is a transparent styrene acrylic copolymer, which is formed by blending styrene monomer (SM) and methyl methacrylate (MMA). The usage of MMA in the compound provides overall hardness, clarity, and resistance to extreme weather conditions, SM offers the compound scratch resistance.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Supreme Petrochem Ltd. (India), INEOS Group AG (United Kingdom), I. Stern & Co. (United States), Deltech Polymers Corporation (United States), Calsak Corporation (United States), Chi Mei Corporation (Taiwan), BASF (United States), Arkema (France) and Evonik (Germany) |
CAGR | 6.2% |
The market in Europe is in the emerging phase and is anticipated to expand in the near future. Europe is a manufacturing hub for various products in industries such as automotive, medical, plastics, etc. Demand for SMMA in the region is anticipated to be primarily due to the presence of various manufacturing sites in countries such as Germany, Italy, and France. The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail of competitive advantage through combined collaborations. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Styrene Methyl Methacrylate market throughout the predicted period.
Supreme Petrochem Ltd. (India), INEOS Group AG (United Kingdom), I. Stern & Co. (United States), Deltech Polymers Corporation (United States), Calsak Corporation (United States), Chi Mei Corporation (Taiwan), BASF (United States), Arkema (France) and Evonik (Germany) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Styrene Methyl Methacrylate market by Type , by Application (Medical Supplies and Cosmetics Packaging) and Region with country level break-up.
On the basis of geography, the market of Styrene Methyl Methacrylate has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2021. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
On 9th March 2022, Arkema S.A. specialty chemicals and the advanced material company announced a complete acquisition of Ashland’s Performance Adhesives business, which is a leader in the high performance for industrial applications in the United States. This acquisition further becomes a pure specialty material player and they are focusing on the development of sustainable and high-performance solutions.
On 1st June 2022, Fratelli Guzzini announced, it has selected the range of INEOS Styrolution’s sustainable NAS ECO materials for its new range of drinkware solutions. NAS ECO is a styrene methyl methacrylate (SMMA) material, which is the result of the cooperation between INEOS Styrolution and BASF. INEOS Styrolation uses for the production of its new sustainable styrenics solutions.
Influencing Trend:
Growing Demand due to Better Mechanical Properties and Increasing Demand for Plastics for Packaging Purposes
Market Growth Drivers:
Rising Demand due to Various Properties Such as Low Water Absorption, Crystal Clarity, and High Rigidity and High Adoption Due to Low Cost
Challenges:
Market Penetration across New Regions
Restraints:
Stringent Government Regulations Associated with Plastic Packaging
Opportunities:
Rising Demand from Developing Countries Due to Employing SMMA in Injection Molding for Manufacturing Various Plastic Products
Key Target Audience
Styrene Methyl Methacrylate Manufactures, Styrene Methyl Methacrylate Suppliers, Styrene Methyl Methacrylate Distributors, Government Regularity Bodies, Private Research Organizations and Consulting Companies., Government Research Institutes and Others