Polymethacrylate Market Scope
Polymethacrylate is a transparent thermoplastic that can be easily processed and transformed into many semi-finished products like rods, films, tubes, and sheets. Poly (Methyl Methacrylate) (PMMA) is the most commercially important Methacrylate Polymer. It is also known as Plexiglas, Lucite, Acrylite, and Altuglas. It is a high volume thermoplastic with good mechanical properties and excellent weather ability. It is non-reactive to oils, alkanes and dilute acids but is reactive to many (polar) solvents such as alcohols, organic acids, and ketones. It is also brittle in nature and has low impact strength and fatigue resistance
According to AMA, the Global Polymethacrylate market is expected to see growth rate of 7.25%
The Market for the Polymethacrylate Is Fragmented with the Presence of Many Global as well as Regional Players. Leading Players Can Adopt Strategies Like as a Merger, Acquisition, Expansion, New Product Launches, in order to Gain Share within the Market. Owing to Booming Industrialization, there are Growing Prospects for the New Players to Enter the Market Research Analyst at AMA estimates that United States and Asian Vendors will contribute to the maximum growth of Global Polymethacrylate market throughout the predicted period.
Mitsubishi Rayon Group (Japan), Sumitomo Chemical (Japan), The Dow Chemical Company (United States), Chi Mei Corporation (Taiwan), Kuraray Group (Japan), Asahi Kasei Corporation (Japan), Afton Chemical India Pvt Ltd (India), The Lubrizol Corporation (United States), Evonik Industries (Germany) and Infineum (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Croda International (United Kingdom), Altuglas International (United States), Lucite International (United Kingdom), Plaskolite (United States), Arkema (United States), Gevacril Acrylics (Germany), Clax Italia Srl (Italy), Ningbo Tachygem Acrylic Industry Co (China), Yogya Industries Pvt. Ltd (India), Swami Plast Industries (India), Chirag Enterprise (India) and MG Polyplast Industries Pvt Ltd (India).
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 total available market.
Segmentation Overview
The study have segmented the market of Global Polymethacrylate market by Type (Extruded Sheets, Acrylic Beads, Pellets and Others), by Application (Automotive, Construction, Electronics, Signs & Displays, Laboratories and Others) and Region with country level break-up.
On the basis of geography, the market of Polymethacrylate has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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).
Market Leaders and their expansionary development strategies
On March 4, 2019, Evonik Signed an Agreement to Sell its Methacrylates Business to Advent International for €3 Billion
In January 2019, Evonik Began Operation of an Additional Line for Production of its ACRYLITE® Polymethyl Methacrylate (PMMA) At Its Site in Osceola, United States
Market Trend
- Surging Construction Activities, Mainly In China, India, and Brazil, Owing to Growing Disposable Income Levels and Governmental Initiatives
Market Drivers
- Rapid Growth in the Automotive Industry Requiring Polymethacrylate for Car Parts Like Windows, Interior and Exterior Panels, Motorcycle Windshields, Instrument Covers, And Spoilers to Attain Better Fuel-Efficiency, High Durability, and Excellent Abrasion Resistance
- Rise in Electronics and Electrical Industries Utilising Polymethacrylate for its Characteristics like High Rigidity and Toughness, Light Weight, High Thermal Insulation
Opportunities
- There is an Increased Opportunity to Cater to the Demands for Various Applications of Polymethacrylate in End-Use Industries
- Growing Research and Development Investments in Bio-Based Polymethacrylate Opens up Prospects for Further Market Expansion
Restraints
- Stringent Manufacturing and Emission Standards may limit the Market Penetration
Challenges
- Fluctuating Prices of Raw Materials for Manufacturing Polymethacrylate May Limit the Market Expansion
- Presence of Alternate Materials in the Market May Pose a Challenge
Key Target Audience
Polymethacrylate Manufacturers, Chemical Suppliers, Distributors, Industry Associations, End-Use Industries, Government and Research Organizations and Others