Methyl Methacrylate Market Representing a Sluggish CAGR of 2 Percent Between 2018 and 2026 - Persistence Market Research

Methyl Methacrylate Market Representing a Sluggish CAGR of 2 Percent Between 2018 and 2026 - Persistence Market Research

PR Newswire

NEW YORK, January 8, 2019

NEW YORK, January 8, 2019 /PRNewswire/ --

Global Methyl Methacrylate Volume Sales to Top 4 Mn Tons in 2019  

The global demand for Methyl Methacrylate (MMA), according to a market study by Persistence Market Research (PMR), is expected to represent a slow-moving growth in 2019, considering increasing planned and unplanned production outages and issues arising from aging production capacities, globally. The global volume sales of methyl methacrylate is projected to reach approximately 4 million tons in 2019, further expanding at a modest CAGR of 3.3 percent, through 2026. In terms of value, sales of methyl methacrylate is projected to top US$ 8.2 billion in 2019, representing a sluggish CAGR of 2 percent, between 2018 and 2026. Global revenue from methyl methacrylate sales witnessed a slight decline in 2017, while the demand growth is estimated to remain moderate, over the next 8 years.

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Global Market Study on Methyl Methacrylate:

Key Findings from Segmentation Analysis 

"Methyl methacrylate is a crucial chemical used in the production of paints and coatings, adhesives, and plastics-used across end-use sectors. However, production of PMMA remains the primary and largest application of methyl methacrylate, followed by paints and coatings including advanced resins and coating formulations. More than 50% of the global methyl methacrylate is consumed for the production of PMMA and other polymers, widely used in an array of applications including manufacturing of fabricated products, building materials, lighting fixtures, signs, displays, sanitary items, glazing, lighting fixtures, lenses, and electronic appliances. Moreover, demand for PMMA is also growing substantially, global electric vehicles production landscape", explains a senior analyst.

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In a highly consolidated landscape, top 5-6 manufactures of methyl methacrylate hold dominance over 80-85 percent of total market share, with strong geographic concentration in regions like Japan, China, U.S, and Europe. Companies such as Mitsubishi Chemicals Holdings Corporation, Evonik Industries AG, Sumitomo Corporation, and The Dow Chemical Company form a major portion of the tier-1 players. Tier-2 players such as Arkema S.A., LG MMA, and Jilin Chemical amongst others, on the other hand, hold approximately 10-15 percent of the total market share, with major presence in regions like Europe, South Korea, and China. The remaining market share belongs to the nearly 8-10 emerging or tier-3 companies such as PTT Asahi Chemical Company Limited (PTTAC), Kuraray Co., Ltd, and FPC, with presence in China, Japan, MEA, and Thailand. The core forward market strategies adopted by key manufacturers of methyl methacrylate include:

Tier 1 companies:

Tier 2 companies:

Tier 3 companies:

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