Automotive and construction/remodeling applications represent over 80% of world Methyl Methacrylate (MMA) consumption. Since auto and construction industry are shaped by economic conditions, MMA demand closely follows general economic trends.
As the automotive and construction industries were severely hit by the recession in recent times, the MMA market also slumped significantly during 2008-2009. Demand for MMA declined considerably in all the matured markets including the US, Europe, and Canada during 2008-2009. However, despite the slowdown, demand for MMA stood positive across all the developing regions including Asia-Pacific, especially China, Latin America and Middle East.
The electronics sector in Asia-Pacific has been a major growth driver, steering growth in the MMA as well as Polymethyl methacrylate (PMMA) resins markets in the region. PMMA is largely used for various electronic applications especially in liquid crystal displays and flat screen displays. Demand for PMMA in the electronics sector grew robustly until 2008. However, during 2009, deferred consumer purchases of computers and television sets led to a steep fall in demand for PMMA. The rapid capacity expansions and healthy growth in various Asia-Pacific countries for PMMA electronic applications as well as for surface coatings in Middle East, Africa and Eastern and Central Europe are likely to offset the decline or moderate growth of MMA market in the US and Western Europe.
Asia-Pacific dominates the world Methyl Methacrylate market, as stated by the new market research report on Methyl Methacrylate. Surging at a compounded annual growth rate of more than 4.0%, the Asia-Pacific region also represents the fastest growing regional market for MMA. Factors contributing to the growth in the region include growing demand for MMA from various electronic applications including thin-film transistors for liquid crystal display (LCD) screens, notebook monitors, and flat screen computers. The US and Europe represent other major markets for MMA.
In terms of end-use segments, Acrylic Plastics and Resins represents the largest as well as fastest growing segment for MMA. Surface Coatings constitutes other major end-use segment, with MMA consumption projected to reach 397.4 thousand metric tons by 2012.
Increasing demand for polymethylmethacrylate resins (PMMA) represents a major growth driver for MMA market globally. With excellent shatterproof properties, PMMA is a better substitute for glass and is thus largely used in the construction industry. On the other hand, persistently rising LCD market is the other major growth driver for the worldwide MMA market. Demand for MMA has been increasing with the growth in production of plasma display panels (PDPs). Relocation of the production bases represents one of the major trends in the MMA market. Manufacturers are increasingly relocating MMA production to lower cost regions such as Asia and Eastern Europe to tap the demand in these regions. Several producers announced capacity expansions or new plants in view of the supply shortage worldwide. China, Thailand, Singapore and the Czech Republic are emerging as preferred production sites for major companies.
Major players profiled in the report include Asahi Kasei Chemicals, BASF SE, Evonik Degussa GmbH, Evonik Cyro LLC, Formosa Plastics Corp., Kuraray Co. Ltd., LG MMA Corp., Mitsubishi Gas Chemical Co. Inc, Mitsubishi Rayon Co. Ltd., Lucite International Ltd, Mitsui Chemicals Inc., and Sumitomo Chemical Co. Ltd., among others.
The research report titled “Methyl Methacrylate: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the MMA markets, impact of recession on the markets, current market trends, key growth drivers, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for Methyl Methacrylate market for the years 2007 through 2015 for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Key end-use segments analyzed include Acrylic Plastics and Resins (Cast and Extruded Sheets and Molding Powders and Resins), Surface Coatings, Impact Modifiers, Emulsion Polymers, Mineral-Based Sheets, Higher Methacrylates, Polyester Modifiers and Others. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.