Polymethyl Methacrylate (PMMA) is a transparent thermoplastic and impact-resistant substitute for glass. It is highly durable and offers the advantage of chemical and impact resistance. It is lightweight, rigid, and has color versatility. PMMA is used in various applications such as automotive, electronics, construction, signs & displays, sanitary ware, and lighting fixtures. It is available in two grades—optical grade and general-purpose grade.
Optical grade PMMA is used to make Light Guide Panels (LGPs), as it provides high brightness and high purity grade, making the screen brighter and cleaner. General-purpose is the most common grade that finds applications in automotive, buildings & construction, signage and display, household, lighting fixtures, and furniture, among others.
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PMMA is a versatile, recyclable, sustainable, and durable material, owing to which it is gaining traction across several industrial applications. Due to its superior properties and the changing government policies such as European Green Deals, the global market for PMMA is expected to grow.
MarketsandMarkets expects the PMMA market size is estimated to be USD 4.2 Billion in 2021 and is projected to reach USD 5.6 Billion by 2026, at a CAGR of 5.7%.
Based on application, the consumption of PMMA in various end-use industries such as sign & display, construction, automobile, electronics, lighting & fixtures, and among others is considered. The applications of these have been constantly increasing owing to constant innovation.
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The specialty PMMA market is studied for five regions, namely, North America, Asia Pacific, Europe, Middle East & Africa, and South America. Asia Pacific region accounted for the largest market share in 2020, in terms of both value and volume.