PMMA Market for construction application size was over USD 1.5 billion in 2017 and industry expects demand of above 800 kilo tons by 2024.
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Polymethyl methacrylate (PMMA) is a transparent polymer which is manufactured by polymerization of Methyl Methacrylate (MMA). It is widely used in construction industry owing to its usage in manufacturing facades and doors & windows which may amplify its market size. The product upholds high rigidity, impact and abrasion resistance which may boost PMMA industry in construction application.
Extruded PMMA sheets are manufactured using methyl methacrylate (MMA) pellets making it durable and tough with superior optical clarity. These sheets are utilized in production of greenhouse due to its long-lasting property. Greenhouse is utilized for cultivating crops in a microbial free environment which ensures organic harvesting. Global greenhouse horticulture market is anticipated to surpass USD 34 billion in the forecast timeline which may amplify PMMA market for construction application.
Cell cast sheets and blocks are manufactured using MMA which has high light transmission properties which supports these sheets to offer vivid and vibrant shades making it attractive. These sheets are utilized in infrastructural development owing to its weatherability and UV resistance which may escalate PMMA industry in construction application.
Global doors & window market is estimated to surpass USD 250 billion by 2024 which may surge PMMA market for construction application. PMMA has substituted glass due its superior optical property. The product is light weight and non-breakable which helps it to bear harsh weather conditions. It is used as glazing material in manufacturing of doors & windows.
|Market Size in 2017:||1.5 Billion (USD)|
|Forecast Period:||2018 to 2024|
|2024 Value Projection:||3 Billion (USD)|
|Historical Data for:||2013 to 2017|
|No. of Pages:||180|
|Tables, Charts & Figures:||202|
|Segments covered:||Form, Application, and Region|
|Pitfalls & Challenges:|
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PMMA is utilized in manufacturing of complex infrastructures owing to its flexibility. The product helps in formulation for moulding and customization of multidimensional structures. Global construction market is anticipated to surpass USD 12.5 trillion by 2022 which may upsurge PMMA market for construction application.
Significant development in automotive sector has led to increase in demand of creating new assembly plants and warehouses for housing new vehicles and inventory. PMMA is used for manufacturing of these infrastructures owing to its crack and storm-resistant nature that can withstand severe environmental condition which may foster PMMA industry in construction application.
PMMA is utilized in producing sound barriers for reduction of high sound level. These acoustic barriers are used on highways and roads to reduce noise from automotives and ensure comfort to adjacent residential areas. Acoustic insulation market is estimated to grow USD 15 billion by 2022 which may surge PMMA market for construction application.
it is also utilized in manufacturing of marine centres and aquariums owing to its shatterproof resistant property. Global aquarium market is anticipated to surpass USD 8 billion by 2021 which may amplify PMMA industry in construction application.
PMMA is also utilized in building of facades which are front elevation of the infrastructure. Global facade market size is anticipated to surpass USD 340 billion by 2025. PMMA sheets are utilized in manufacturing of facades which help to increase internal strength and durability of infrastructure, thus propelling market growth.
Heavy toxic fumes are released during manufacturing process of PMMA which can prove detrimental to labourers who are involved in the process of manufacturing. Risk of blow up is also involved during polymerization process which may cause fatal injuries. These restraints may hamper PMMA market for construction application profitability.
PMMA Market for Construction Application, By Form
Extruded PMMA market size for construction application may surpass USD 2 billion in the estimated timeframe. Extruded sheets are formulated using methyl methacrylate (MMA) pellets which increases it thickness, thus making it more impact resistant. These sheets can be utilized as an alternative to glass owing to it low cost and high toughness which may increase PMMA market in construction application.
PMMA Market for Construction Application, By Application
PMMA market size from greenhouse application is anticipated to surpass USD 1 billion in the estimated time span. The product has its usage in construction of greenhouse as it upholds higher light transmission & UV resistant property. This makes the product effective in organic cultivation of crops as it shields harvest from insects, pests and mites which may foster PMMA market for construction application market growth in projected timeframe.
PMMA market size from facades application is projected witness gains of over 5.5% by 2024. PMMA is utilized in facades fabrication owing to it sturdiness and crash resistant nature which shields the infrastructure from harsh conditions which may amplify PMMA market for construction application.
PMMA Market for Construction Application, By Region
Asia Pacific led by India, South Korea, and Japan PMMA market for construction application is estimated to surpass USD 1.5 billion by 2024. The product has its usage in building of waste and water treatment plants in which extruded sheets are utilized owing to water and chemical resistant properties. This may foster regional market growth.
Europe driven by Italy, France, Germany and UK PMMA market for construction application may witness substantial gains up to 5% by 2024. Significant rise in automobile sector has led to surge in demand of new infrastructures including assembly and production plants. Increasing number of car manufacturing companies in the region will have a positive impact on PMMA industry size in construction application.
Brazil PMMA market for construction application may observe growth in the forecasted timeframe owing to mounting agricultural industry. Greenhouse owing to its capsulated design helps in promoting horticulture activities shielding crops from microorganisms. PMMA is utilized in construction of greenhouse owing to its mechanical strength and optical clarity which ensures robustness and high transparency, thereby propelling PMMA market in construction application demand.
Competitive Market Share
Global PMMA market share for construction application is moderately consolidated with major industry players including Arkema, Evonik industries AG, GEHR plastics, Mitsubishi chemical holdings, Kuraray Co. and Sumitomo Chemical Company.
Companies are forming strategic alliances through mergers & acquisitions, partnership, and joint ventures. Manufacturers are focussing on developing new technologies to enhance PMMA market. In August 2014, Sumitomo Chemical Company announced its joint venture with Saudi Aramco to integrate USD 8.5 billion project which will boost production of MMA, PMMA and other petrochemicals.