According to a new market report published by Transparency Market Research “Polymethyl Methacrylate (PMMA) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019”, the global Polymethyl Methacrylate market was valued at USD 5.74 billion in 2012 and is expected to reach USD 10.53 billion by 2019, growing at a CAGR of 7.9% over the forecast period from 2013 to 2019.
Growth of major end use industries such as electronics especially LED flat screens, signs and displays and automotive mainly in the emerging economies of Asia Pacific is expected to boost the market for PMMA over the next six years. However, the volatility in raw material prices is expected to hinder market growth over the forecast period. In order to reduce reliance on petroleum derived products, major manufacturers such as Mitsubishi Rayon Company, Evonik Industries AG and Arkema SA have been shifting their focus towards developing bio-based PMMA.
Asia Pacific dominated the PMMA market with more than 50% of the global market in 2012. Along with being the largest market, Asia Pacific is also expected to be the fastest growing market at an estimated CAGR of 9.3% for PMMA from 2013 to 2019. Europe is expected to witness moderate growth rate in the near future owing to euro-zone crisis, while Middle East and Africa (MEA) and Central and South America (CASA) are expected to show above average growth for the PMMA market.