Global Methyl Methacrylate (MMA) Market to Surpass US$ 10,640.2 Million by 2027 – Coherent Market Insights

SEATTLE, April 25, 2019 (GLOBE NEWSWIRE) -- The global methyl methacrylate market was valued at US$ 7,191.1 million in 2018, and is projected to exhibit a CAGR of 4.5% over the forecast period (2019–2027), in terms of revenue.

Key Trends and Analysis of the Methyl Methacrylate (MMA) Market:

The methyl methacrylate (MMA) market is expected to witness substantial growth over the forecast period. This is owing to increasing demand for MMA from various end-use industries such as automotive, construction, aerospace, and electronics. Increasing use of plastics for manufacturing light-weight vehicles is also expected to aid in growth of the market.

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Stringent regulations imposed by various governments such as “end of life regulations” by the EU that are related to emissions, have resulted in increasing demand for light-weight vehicles. This in turn is expected to aid in growth of the market. The automotive industry is one of the largest end user of MMA for application in molding and for extrusion compounds. The use of MMA in automotive plastics is increasing significantly. This is owing to various properties of MMA such as ability to reduce weight to minimize vibrations in vehicles. MMA also aids in insulation of cabins, reduction of unwanted noise, and helps to increase aesthetic appeal of vehicles.

Major players in the market are focused on adopting various business strategies to expand their product portfolio and enhance their market share. BASF SE focuses on partnerships with customers and research institutes in MMA, to jointly develop customized products, functional materials, and system solutions as well as processes and strategies. For instance, in November 2018, the company developed Unique Verbund concept, where the production plants are linked intelligently to save resources and energy. The company has six world-scale Verbund sites worldwide.

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https://www.coherentmarketinsights.com/market-insight/methyl-methacrylate-mma-market-569

Key Market Takeaways:

• The global methyl methacrylate (MMA) market is expected to exhibit a CAGR of 4.5% during the forecast period in terms of revenue. The market growth is driven by increasing use of MMA in various end-use industries such as electronics, construction, automotive, and aerospace.
• Among regions, Asia Pacific is expected to witness major market share over the forecast period, owing to increasing demand for automobiles and high usage of MMA in the manufacturing of automotive components and parts. Moreover, MMA is used in several electronic devices such as smart phones screen and other electronic parts.
• Some of the major players operating in the global methyl methacrylate (MMA) market include, DowDuPont Inc., BASF SE, Evonik Industries AG, Arkema Group, The Dow Chemical Company, Akzo Nobel N.V., Sumitomo Chemical Company Limited, Chi Mei Corporation, and Asahi Kasei Corporation

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