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GIA Predicts Global Methyl Methacrylate Market to Reach 3.2M by 2017

Published on 2012-04-20. Author : SpecialChem

GIA announces the release of a comprehensive global report on Methyl Methacrylate (MMA) market. The global market for methyl methacrylate is forecast to reach a consumption volume of 3.2 million metric tons by the year 2017. Electronics is the fastest growing end-use sector of MMA and PMMA globally, particularly in Asian markets of China, Taiwan and Korea. Persistently rising LCD market has been creating strong demand for the worldwide MMA market. Surging demand for MMA and its derivatives in developing markets of Asia-Pacific, Latin America and Eastern Europe augers well for sustained future growth.

Automotive and construction/remodeling applications represent over 80% of world Methyl Methacrylate (MMA) consumption globally. However in the largest regional market, Asia-Pacific, the electronics sector has been a major growth driver, steering growth in the MMA as well as PMMA markets. Demand for MMA has been increasing with the growth in production of plasma display panels (PDPs). The methyl methacrylate manufacturers in Asia, particularly China and Singapore are largely boosting their production capacities to meet the growing demand for MMA. . Korea is another major market with improvements in MMA production capacities. Demand for MMA from few of the end-user industries such as Polymethyl methacrylate (PMMA) resins, largely used in various electronic applications including for producing notebook monitors, flat screen computers has been growing steadily in the last few years. This is paving way for massive capacity expansions as well as enhancements in Asia-Pacific region.

Going forward, the rapid capacity expansions and healthy growth in various Asia-Pacific regions for PMMA electronic applications as well as for surface coatings in Middle East, Africa and Eastern and Central Europe are likely to offset the decline or moderate growth of MMA market in the US and Western Europe. Relocation of the production base represents one of the major trends in the MMA market. Manufacturers are increasingly shifting MMA production to lower cost regions such as Asia and Eastern Europe to tap the demand in these regions. Several producers announced capacity expansions or new plants in view of the supply shortage worldwide. China, Thailand, Singapore and the Czech Republic are emerging as preferred production sites for major companies.

Asia-Pacific dominates the world Methyl Methacrylate market, as stated by the new market research report on Methyl Methacrylate. Surging at a compounded annual growth rate of about 5%, the Asia-Pacific region also represents the fastest growing regional market for MMA. Increased use of MMA in thin-film transistors for liquid crystal display (LCD) screens is also considered to be one of the key driving factors behind higher MMA consumption. Demand for TVs in China is forecast to witness a strong growth through 2017, resulting in a continuous demand for optical grade PMMA.

Methyl methacrylate is widely used in the manufacture of acrylic polymers. A leading end-use market is Acrylic Plastics and Resins wherein it is either employed as sheet or molding or as extrusion compounds. Construction grade plexiglass is used in several applications. Specialty products such as optical-grade plexiglass, compact disk plexiglass and radiation shielding plexiglass are expected to offer lucrative growth potential. The automotive industry is also the largest end user of MMA especially in molding and extrusion compounds. Its usage in areas such as medical applications and optical disks is also growing.

Major players profiled in the report include Asahi Kasei Chemicals, BASF SE, Evonik Degussa GmbH, Evonik Cyro LLC, Formosa Plastics Corp., Kuraray Co. Ltd., LG MMA Corp., Mitsubishi Gas Chemical Co. Inc, Mitsubishi Rayon Co. Ltd., Lucite International Ltd, Mitsui Chemicals Inc., and Sumitomo Chemical Co. Ltd., among others.

The research report titled "Methyl Methacrylate: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of the MMA markets, impact of recession, current market trends, key growth drivers, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual consumption estimates and projections for Methyl Methacrylate market for the years 2009 through 2017 for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Key end-use segments analyzed include Acrylic Plastics and Resins (Cast and Extruded Sheets and Molding Powders and Resins), Surface Coatings, Impact Modifiers, Emulsion Polymers, Mineral-Based Sheets, Higher Methacrylates, Polyester Modifiers and Others. The study also provides historic data for an insight into market evolution over the period 2003 through 2008.

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

Source: Global Industry Analysts, Inc.

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