Global Methyl Methacrylate (MMA) Resin Market – Industry Trends and Forecast to 2029

Market Analysis and Size

Methyl methacrylate play a vital role in the production of automobiles because they have the ability to improve vehicle appearances while also improving fuel efficiency, dropping vehicle weight, and lowering carbon emissions. Adhesives were formerly utilized only for gluing, laminating, and assembling vehicle interior components. Automotive is one of the most common applications for MMA adhesives because they have the capability to improve vehicle appearances and also, improving fuel efficiency, reducing vehicle weight and lowering carbon emissions. The usage of MMA adhesives increases vehicle durability and weight reduction and also helpful for saving money. These adhesives provide more stiffness and rigidity without affecting the ride of vehicles.

Data Bridge Market Research analyses that the methyl methacrylate (MMA) resin market was valued at USD 7.61 billion in 2021 and is expected to reach USD 10.58 billion by 2029, registering a CAGR of 4.20 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.

Market Definition

Methyl Methacrylate (MMA) adhesives are reactive acrylic adhesives with a resin and hardener. As soon as MMA is directed, it attains full bond strength. At room temperature, it cures quickly. Rubber and extra strengthening additives are also included peel, Impact and shear stress adhesives are examples of these adhesives. Composites such, carbon fiber and fiberglass, as unsaturated polyester, gel-coat epoxy, vinyl ester, and sheet moulding compounds are also used with them. Commercial wind energy, vehicles, marine are just a few of the uses for methyl methacrylate. The built-in rubber strengthening system provides the flexibility needed to deal with differential thermal expansion, thermal shock and contraction.

Report Scope and Market Segmentation

Methyl Methacrylate (MMA) Resin Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Increasing demand in automotive industry

Methacrylate is widely used in the automotive industry for the production of variety of parts and machineries, such as decorative trims, ambient lighting; door entry strips; external, rear, and indicator light covers; automotive glazing, etc. Some of the key factors are, less stress birefringence, light weight, high scratch resistance among others make the resin most ideal for the automotive industry.

• Growth of market due to paints and coatings industry

Methyl methacrylate is use for the production of paints and coatings for many end-use industries. The large number of paints, coatings and inks, used by automotive coatings, architectural and decorative coatings industrial coatings and many others in the construction sector which has made from methyl methacrylate.

• Increase in demand due to wide applications

There are many application of methyl methacrylate include PVC impact modifiers, metal & foil coatings, floor polishes, panels and lighting displays, outdoor lighting fixtures, plumbing fixtures and components, sealants, inks, industrial finishes, packaging, textile finishes, and shatterproof glass replacements which increase the demand of Methyl methacrylate resin in the market.

Opportunities

• Increase in demand due to unique properties

Many industries use MMA due to its integrated beneficial properties including biochemical endurance, sturdiness and extraordinary thermic, low fume discharge, and exceptional abrasion stability. The product also releases insignificant measures of smoke during adhering to rigorous composition fabrication, and emission criteria. This will acts as the opportunity for market growth.

• Rise in product innovations

The increasing number of product developments will drive new market opportunities and accelerate industry expansion. Product innovations aimed at enhancing design and manufacturing processes are also assisting market growth. Manufacturers are developing more efficient, dependable, and convenient products.

Restraints/ Challenges

However, adverse effects of methyl methacrylate on human health are anticipated to hinder growth of the market. According to the research, methyl methacrylate causes irritation in skin, eyes, and mucous membranes in humans. Respiratory symptoms were witnessed following acute exposures including, coughing, tightening of chest, and wheezing amongst others. Neurological symptoms such as cluster, headaches have also been observed in humans due to exposure with methyl methacrylate (MMA) resin. This major reasons is anticipated to obstruct growth of the methyl methacrylate market over the forecast period.

This methyl methacrylate (MMA) resin market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the methyl methacrylate (MMA) resin market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Methyl Methacrylate (MMA) Resin Market

The methyl methacrylate (MMA) resin market is negatively impacted by the COVID-19 pandemic. The global pandemic hinders the major end-user industries of methyl methacrylate (MMA) resin, such as automotive, paints and coatings, construction, advertising and others. The covid-19 hamper most the business of construction and real estate industries. However, the demand is anticipated to rise during the forecast period.

Recent Development

• In December 2020, Arkema’s PMMA business is starts the manufacturing of methyl Methacrylate with completely integrated operations and ends with polymethyl methacrylate, which is marketed under the well-known trademarks on the American continent.
• In February 2020, mitsubishi chemical company setup MMA plant in US, The plant is based on alpha technology which derives MMA from methanol, ethylene and carbon dioxide. The capacity would be 250000 to 350000 tonnes per year.

Methyl Methacrylate (MMA) Resin Market Scope

The methyl methacrylate (MMA) resin market is segmented on the basis of products, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Extruded Sheets
• Pellets
• Acrylic Beads
• Others

Application

• Acrylic Plastics and Resins
• Surface Coatings
• Impact Modifiers
• Emulsion Polymers
• Mineral-Based Sheets
• Higher Methacrylates
• Polyester Modifiers
• Others

 End User

• Automotive
• Electronics
• Construction
• Advertising
• Others

Methyl methacrylate (MMA) Resin Market Regional Analysis/Insights

The methyl methacrylate (MMA) resin market is analysed and market size insights and trends are provided by country, products, application and end-user as referenced above.

The countries covered in the methyl methacrylate (MMA) resin market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.

Asia-Pacific dominates the methyl methacrylate (MMA) resin market in terms of market share and revenue and will continue to show its dominance during the forecast period. This is due to the increasing demand for methyl methacrylate (MMA) resin in this region. The Asia-Pacific region dominates the methyl methacrylate (MMA) resin market, with China leading the way in terms of production and consumption of methyl methacrylate (MMA) resin. Due of the ease of production and rise in disposable methyl methacrylate (MMA) resin, China is leading the Asia-Pacific market.

During the projected period, North America is expected to be the fastest developing region due to the rising consumption of methyl methacrylate (MMA) resin in automotive sector in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Methyl Methacrylate (MMA) Resin Market Share Analysis

The methyl methacrylate (MMA) resin market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to methyl methacrylate (MMA) resin market.

Some of the major players operating in the methyl methacrylate (MMA) resin market are:

• BASF SE (Germany)
• NIPPON SHOKUBAI CO. LTD (Japan)
• Nylus sro (Slovakia)
• RTP Company (US)
• Karl Jungbecker GmbH & Co. KG (Germany)
• Dow (US)
• Maxiglas Corp (China)
• Arkema (US)
• Evonik Industries AG (Germany)
• Mitsubishi Chemical holdings Corporation (Japan)
• SABIC (Saudi Arab)
• Sumitomo Chemical Co. Ltd (Japan)
• Asahi Kasei Corporation (Japan)
• CHIMEI (Taiwan)
• GEHR Plastics Inc (Germany)
• Kolon Industries (South Korea)
• 3A Composites AG (Switzerland)
• ALBIS distribution GmbH Co, Ltd, (Germany)

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