Industry Insights
Global PMMA market is expected to witness significant growth over the next six years owing to increasing demand in electronics, automotive and signs & display applications. PMMA is widely used in LED and flat panel televisions as a light guide for the backlights of television. Its superior light transmittance compared to other polymers makes it an ideal compound in televisions which is expected to fuel its demand in electronics applications. Increasing penetration of PMMA in medical devices market as an alternative to other medical polymers such as PVC and polypropylene owing to health hazards and low biocompatibility is expected to fuel the market growth over the next six years. Growing concerns regarding the presence of phthalate plasticizers in PVC has been a major factor for the growing importance for PMMA in medical devices.
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PMMA is widely used as an alternative to glass in construction and automotive segments. Increasing construction spending coupled with growing automotive industry in emerging markets such as Brazil, China and India are expected to drive the market growth over the forecast period. Volatile prices of acetone have impacted the pricing of methyl methacrylate which consequently faltered the prices of the profitability of manufacturers in PMMA market. Increasing R&D to develop bio-based alternatives is anticipated to reduce the dependability of manufacturers on petrochemicals as raw material source. This is anticipated to provide market participants opportunities in terms of product innovation.
Product Insights
Extruded sheets emerged the leading product segment in the PMMA market and accounted for more than 55% of the market share in 2012. Extruded sheets are mainly used for LED screens, building facades, solar panels...