Methyl Methacrylate Manufacturing Industry. Manufacture of MMA
The global MMA demand is forecast to grow at a CAGR of 3.5% to 4.0% in the long-term forecast till 2025.
Methyl methacrylate (MMA) is an important acid ester, which is a colorless monomer compound. The most important use of MMA is in the manufacture of poly-methyl methacrylate (PMMA). PMMA is a transparent thermoplastic used as a shatter-resistant option to glass. Due to its excellent tensile strength, flexural strength, transparency, polishing, UV tolerance, and scratch resistance properties, PMMA is used in the form of sheets to produce mobile phone screens, LCD screens, and monitors. It is used as a bone cement.
Uses:
· Methyl methacrylate is used in the manufacture of methacrylate resins and plastics (e.g., Plexiglas).
· The principal uses of methyl methacrylate are: cast sheet and other grades (advertising signs and displays, lighting fixtures, glazing and skylights, building panels and sidings, and plumbing and bathroom fixtures), molding/extrusion powder, and coatings (latex paints, lacquer, and enamel resins).
· Methyl methacrylate is used in the impregnation of concrete to make it water-repellent, and also has uses in the fields of medicine and dentistry to make prosthetic devices and as a ceramic filler or cement.
Market Outlook
Global methyl methacrylate (MMA) market, as an overall, it is projected to reach approximately 3,761 thousand tons by the end of 2023, increasing at a CAGR of around 2% per year in the period 2017-2023. Increasing demand for methyl methacrylate form the automotive, electronics, and construction industries is major factor expected to drive growth of the global methyl methacrylate market over the forecast period.
On the basis of end-use industries, the global methyl methacrylate market has been segmented into construction, automotive, electronics, aviation, and others (medical, paints, and sports). The construction segment is estimated to account for major share in the global methyl methacrylate market in terms of revenue.
Growing use of methyl methacrylate (MMA) for the production of PMMA (Polymethyl methacrylate) and other polymers is expected to drive the growth of the methyl methacrylate market. PMMA is used to produce a variety of automotive components and other parts. Increasing regulations that promote the reduction of vehicle weight to reduce emissions have created demand for plastic based parts, which in turn, has led to rise in use of PMMA in the automotive industry. A wide range of acrylic paints, coatings, inks and adhesives are also being used across building and construction and automotive industries, which is also driving the global methyl methacrylate market.
The growth in demand for adhesives and sealants from building and construction, automotive and other end use industries is anticipated to further drive the demand for methyl methacrylate. Methyl methacrylate based adhesives provide strength and resistance and are reliable for a wide range of applications. They are also used in complex parts and engine components in the automotive industry.
The increasing demand for lightweight, crash-resistant, and fuel-efficient vehicles; growing demand in the automotive and marine industries; superior quality and performance of MMA adhesives; and increasing awareness about advantages of adhesives over conventional techniques are driving the MMA adhesives market. The growing awareness about reducing emissions, increasing recyclability, and minimizing wastage is expected to propel the growth of the market.
Key players operating in the global market include Evonik Industries AG, DowDuPont, Inc., Sumitomo Chemical Company, Limited, Formosa Plastics Corporation, Arkema Inc., Saudi Basic Industries Corporation (SABIC), Kuraray Co., Ltd., Mitsubishi Chemical Holdings Corporation, Asahi Kasei Corporation, and Huntsman International LLC.
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