Methyl Methacrylate (MMA) Market is estimated to be US$ 29.62 billion by 2020 with a CAGR of 8.2% during the forecast period 2030 prophecymarketinsights.com

Methyl Methacrylate (MMA) Market accounted for US$ 13.6 billion in 2020 and is estimated to be US$ 29.62 billion by 2030 and is anticipated to register a CAGR of 8.2%. Methyl Methacrylate (MMA) was first produced in 1933 in Germany. Methyl Methacrylate is also known as methyl ester and methacrylic acid. Methyl Methacrylate is used in larger form in Polymethyl methacrylate (PMMA). Because of chemical and physical properties like good optical clarity, light weight, weather resistance of PMMA it is used as a substitute for glass products like lighting fixtures and car tail lights. Bone cement, lacquers, acrylate adhesives, automotive coatings and sealants, hearing aids, artificial fingernail adhesive, dental materials like crowns, veneers, fillings, etc., are some of the products which contains Methyl Methacrylate. MMA is produced by reaction of acetone with hydrogen cyanide. Major factor for Methyl Methacrylate (MMA) Market is rising demand for adhesives and coatings from automotive industries.

The report “ Global Methyl Methacrylate (MMA) Market, By Type (Isobutylene method, Acetone Cyanohydrin Method (ACH), Ethylene Method, and Others), By Application (Automotive, Constructions, Healthcare, Electronics, and Others), By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2030 “

Key Highlights:

In April 2022, Sumitomo Chemical Company has announced to establish newly Methyl Methacrylate MMA Division as of April 1, 2022, which includes Methyl Methacrylate Monomer and Acrylic resin.
In February 2022, Mitsubishi Chemical Corporation & its subsidiary Mitsubishi Chemical Methacrylate has developed new manufacturing technology for Methyl Methacrylate in which the plant is designed for MMA monomers which uses plant-derived materials by fermentation, which will help in reducing environmental burden.
Analyst View:

Owing to rise in demand of Methyl Methacrylate (MMA) in automotive industries, construction, electronics, marine industries and healthcare industries has driven boost growth in market. Growing demand for coatings and adhesives is increasing which will help in rise in market growth. Newly development in MMA by plant derived raw materials will help in environmental balance. Moreoever, new research and development is required to develop MMA to reduce its toxicity. Due to the increased market rivalry, both large worldwide firms and start-ups are competing for a foothold in the market.

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Key Market Insights from the report:

Global Methyl Methacrylate (MMA) Market accounted for US$ 13.6 billion in 2020 and is estimated to be US$ 29.62 billion by 2030 and is anticipated to register a CAGR of 8.2%. The Global Methyl Methacrylate (MMA) Market is segmented based on Type, Application and Region.

Based on Type, Global Methyl Methacrylate (MMA) Market is segmented into Isobutylene method, Acetone Cyanohydrin Method (ACH), Ethylene Method, and others.
Based on Application, Global Methyl Methacrylate (MMA) Market is segmented into Automotive, Constructions, Healthcare, Electronics, and others.
By Region, the Global Methyl Methacrylate (MMA) Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Competitive Landscape & their strategies of Global Methyl Methacrylate (MMA) Market:

The prominent players operating in the Global Methyl Methacrylate (MMA) Market includes, Parson Adhesive, 3M, Henkel, Permabond, Illinois Tool Works, Cyberbond, Huntsman Corporation, The Dow Chemical Company, BASF SE, Kolon Industries, Akzo Nobel N.V., Evonik Industries AG, Sumitomo Chemical Company Limited, Saudi Methacrylate Company (SAMAC), Lucite International, Kuraray Group, Mitsubishi Chemical Corporation, Asahi Kasei Corporation and others.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.