The LCD light guide made from PMMA provides brighter light than the conventional guide panels. Therefore, PMMA is widely used in LCD light guide and the growth of LCD market drives the PMMA market as well. In addition, PMMA’s advance applications in electronic and automotive market also increase its usage. Moreover, the manufacturers of PMMA are spending a substantial amount of money in R&D and focusing towards its capacity plans. The deficiency of raw material for the production of PMMA is the major restraint for the market growth. Due to the scarcity of raw material, manufacturers are unable to produce the material in bulk. PMMA is used in various industries such as automotive, electronics, construction, signs & displays, sanitary ware, etc. The economic growth of these industries would drive the market for PMMA in long run.
Application Market Analysis:
On the basis of application, the market is segmented into automotive, electronics, construction, signs & displays, sanitary ware, lighting fixtures and others. Due to its excellent properties such as transparency, water resistance, light weight and rigidity, PMMA is largely used in sign and display industries for the manufacturing of LCD display panels.
Geography Market Analysis:
Based on geography, the market is segmented into North America, Europe, Asia Pacific and LAMEA. Countries in Asia pacific, namely, China and Japan have a huge market for electronics, light fixtures and Signs & displays, which are the major applications segment of PMMA. Therefore, PMMA market generates maximum revenue from these regions.
HIGH LEVEL ANALYSIS:
The PMMA market is an emerging field of the global synthetic resin market. The driving and restraining factors for this market are strategically dealt in this analysis and emphasis is given towards its growth opportunities. The global market is analyzed using Porter’s five force model, which assists the stakeholders to understand the bargaining power of buyers & suppliers, threat of new entrants and competitive rivalry. As the PMMA based products are highly differentiated over the conventional material in many applications, the suppliers’ bargaining power would be higher and the buyers would suffer with low bargaining power. As the switching cost of the consumers is high, the threat of substitute would be low. Due to their unequal market size, the intensity of rivalry would be low among the competitors present in the PMMA market. Moreover, the study includes a value chain analysis for better understanding of key players in the supply chain right from the manufacturers to end users.
The major players dominating the global Polymethyl Methacrylate market are Arkema SA, Chi Mei Corporation, Kuraray Co Ltd., Asahi Kasei Corporation, Evonik Industries AG, Makevale Group, Quinn Plastic, Saudi Basic Industries Corporation (Sabic), LG MMA Corporation, Mitsubishi Rayon Co. Ltd, and Sumitomo Chemical Company Limited. Mitsubishi Rayon and Saudi Basic Industries Corporation (SABIC) signed a joint venture agreement to build MMA and PMMA plants in Saudi Arabia.
The analysis helps in understanding the strategies adopted by various companies for the growth of the global PMMA market
The market conditions of this product ac
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