By Nick Gilbert
MarketsandMarkets has released a new research report titled ‘Polymethyl Methacrylate (PMMA) Market by Application, Grade & Form - Global Trends & Forecasts (2012 - 2017).’
The comprehensive report divides the global PMMA market revenue in terms of grades, applications and geography. It also discusses market dynamics such as opportunities, restraints and drivers in detail.
The report predicts that the global market for PMMA applications will grow at 6.5% CAGR between 2012 and 2017, and reach a value of $9.7 billion in 2017. The largest PMMA application market is the signs and displays segment, which is anticipated to grow at 6.4% CAGR during the reporting period 2012-2017 to reach $2.6 billion by 2017.
The extensive use of PMMA in signage’s, screens, display panels, and TFT-LCDs is the cause of high market share of the signs and displays application segment in the global PMMA application market. PMMA consumption in the automotive industry represents an approximately 12.3% revenue share in the total market. However, this share is expected to reach 13.6% in 2017.
Asia-Pacific is the largest geographic market due to the presence of key PMMA producers and consumers in the region, representing a 40.1% revenue share in the overall market in 2011. The PMMA market is expected to achieve a value of $4.49 billion in 2017 in the region. Second largest geographic market is Europe, accounting for 27.9% revenue share in 2011. North America is the third largest consumer of PMMA.
PMMA is offered in different forms, which include pellet, sheet and bead with high ultraviolet resistance. It is produced in these different shapes through MMA polymerization. It has several advantages over glass, including low cost, easy processing and handling, and moderate properties. All grades of PMMA are classified into two types, namely general purpose and optical grade PMMA.