· Methyl methacrylate (MMA) is an organic compound that exists at room temperature as a colorless liquid with an unpleasant odor. It is mainly used as a core ingredient in the production of polymethyl methacrylate (PMMA) which finds wide application in automotive & transportation, building & construction, electronics, signs & displays and other industries owing to its desirable properties such as transparency, lightweight and strength.
The Methyl Methacrylate Market is estimated to be valued at US$ 7,510.7 Mn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights
Methyl methacrylate market is driven by rising usage of PMMA in construction industry. PMMA is widely used in glazing and fenestration applications due to its transparency and durability properties. Growing construction activities across developing economies of Asia Pacific and Latin America is promoting increased consumption of PMMA. For example, according to International Trade Administration, the construction industry in China is estimated to grow at over 6% annually through 2025. Further, shifting preferences towards green buildings also supports market growth as PMMA aids in energy conservation. However, volatility in raw material prices remains a key challenge.
Porter's Analysis
Threat of new entrants: Low barrier to entry due to availability of raw materials and technology. However, established players have economies of scale.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes. Buyers can negotiate on price offering bulk orders.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of raw materials from different sources. Suppliers can negotiate on price if order quantities are high.
Threat of new substitutes: Threat from substitutes like acrylic acid is low as MMA has irreplaceable properties for end-use applications.
Competitive rivalry: Intense competition among key players to gain market share through product differentiation, cost leadership and expanding applications.
SWOT Analysis
Strengths: Wide applications in diverse end-use industries. Industry leader with integrated production facilities and economies of scale.
Weaknesses: Volatility in raw material prices impact margins. Vulnerable to stringent environmental regulations.
Opportunities: Growing demand from construction and automotive industries in developing countries. New applications development in coatings and adhesives sectors.
Threats: Fluctuations in crude oil prices affecting raw material costs. Shift towards bio-based and recycled polymers limits growth.
The global methyl methacrylate market size is projected to reachUSD23.45millionby the end of 2027.
According to a report published by Fortune Business Insights, titled“Methyl Methacrylate (MMA) Market Size, Share and COVID-19 Impact Analysis, By Application (Chemical Intermediate, Surface Coatings, Emulsion Polymer), By End-Use (Building and Construction, Automotive, Electronics, Paints and Coatings, and Others), and Regional Forecast, 2020-2027,”the market was worthUSD12.57millionin 2019 and will exhibit a CAGR of 8% during the forecast period, 2020-2027.Covid-19 Pandemic has Halted Construction Activities, Subsequently Affecting Manufacturers in this SectorThe recent coronavirus outbreak has created a sense of urgency across the world.
The strict social distancing practices and lockdowns imposed by governments across the world have affected building and construction as well as manufacturing activities.
This product is mainly used in manufacturing of widely used thermoplastics such as ABS, PVC, and acrylics.
Subsequently, growing investments will encourage newer market entrants in the coming years.
Among all factors, the increasing number of company collaborations and mergers, aimed at development of efficient products, has made the highest impact on market growth.Due to the rising demand for methyl methacrylate across the world driven by increasing applications, several large scale companies are looking to adopt standout strategies that will help them acquire a wider consumer base, even in a highly competitive market.
The new Methyl Methacrylate Market report offers a comprehensive study of the current scenario of the market including major market dynamics.
Also, it highlights the in-depth marketing research with the newest trends, drivers, and segments with reference to regional and country.
Further, this report profiles top key players and analyze their market share, strategic development, and other development across the world.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Methyl Methacrylate Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/methyl-methacrylate-market/download-sampleMarket DynamicsRising demand for poly (methyl methacrylate) (PMMA) primarily drives the global methyl methacrylate market.
Poly (methyl methacrylate) (PMMA) consumes more than two-thirds of the world poly (methyl methacrylate) (PMMA) produced.
Rapid urbanization and industrialization influence demand for more significant tons of methyl methacrylate.
