United States Methyl Methacrylate (MMA) Market Is Anticipated To Witness High Growth Owing To Increasing Demand From Acrylic Sheet Manufacturers

 

Methyl methacrylate (MMA) is an organic compound produced by the esterification of methacrylic acid with methanol. It is a colorless liquid and finds application in various industries such as signage industries, construction, and automotive. MMA is majorly used by acrylic sheet manufacturers as it provides excellent optical properties, weathering resistance, and high impact strength to the acrylic sheets. Growing construction projects in the US and increasing demand for substitute toughened glass are the major factors augmenting the demand for acrylic sheets, thereby driving the MMA market.

The United States Methyl Methacrylate (MMA) Market is estimated to be valued at US$ 1.86 Bn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the United States Methyl Methacrylate (MMA) are Mitsubishi Chemical Corporation, Röhm, The Dow Chemical Company, Huntsman Corporation, Evonik Industries AG, BASF SE, Lucite International, and Plaskolite. Mitsubishi Chemical Corporation is the leading producer of MMA in the country.

Key opportunities in the market include an increasing use of MMA in developing poly(methyl methacrylate) (PMMA) and rising demand for PMMA in various end-use industries such as automotive and construction. The growing adoption of PMMA for applications such as light diffusers, medical devices, and automotive taillights and headlights is estimated to propel the MMA demand over the forecast years.

Globally, Asia Pacific dominates the MMA market, owing to the increasing production of PMMA in China and India. However, the US market is anticipated to witness significant growth going forward due to the increasing PMMA production facilities in the region to cater to the local demand. The major players are strategizing geographic expansions in the US to leverage growth opportunities.

Market Drivers

- Increasing demand for acrylic sheets from signage and display industries in the US is a major market driver. Growing adoption of LED DLP rear projection video walls/displays is augmenting the acrylic sheet consumption.

- Rising construction spending in commercial and infrastructure sectors is also fueling the MMA demand. PMMA sheets are witnessing widespread acceptance as an alternative to toughened glass in construction applications owing to its superior properties.

Market Restraints

- Stringent regulatory environment regarding MMA emissions during production and processing may hamper market growth to some extent.

- Volatility in crude oil and natural gas prices which are key raw materials for MMA production is a major challenge faced by industry players.

Segment Analysis

Methyl methacrylate (MMA) market in the United States can be divided into acrylic sheet, surface coatings, other applications segment based on application. Acrylic sheet dominates the market with around 40% share as MMA is basic raw material for manufacturing acrylic/PMMA sheets which has wide applications in signage, sanitary ware, furniture etc. due to its properties such as transparency, lightweight and high durability.

Global Analysis

Regionally, Western and Midwestern United States together accounts for over 60% share in MMA market due to presence of major end use industries like automotive, construction etc. Midwest region dominating with around 35% share on account of states like Illinois, Indiana, Michigan and Ohio having huge manufacturing bases. The demand is projected to grow at a higher pace in Southern states of United States attributing to rising construction activities along with establishment of new production facilities by key players.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

 

Get more insights on this topic: https://www.newsanalyticspro.com/united-states-methyl-methacrylate-mma-market-estimated-to-witness-high-growth-owing-to-rising-demand-from-automotive-and-construction-industries/

 

About Author:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement. (LinkedIn - https://www.linkedin.com/in/priya-pandey-8417a8173/)

What Are The Key Data Covered In This United States Methyl Methacrylate (MMA) Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the United States Methyl Methacrylate (MMA)'s growth between 2024 and 2031.

:- Accurate calculation of the size of the United States Methyl Methacrylate (MMA) and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- United States Methyl Methacrylate (MMA) Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of United States Methyl Methacrylate (MMA) vendors

FAQ’s

Q.1 What are the main factors influencing the United States Methyl Methacrylate (MMA)?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top United States Methyl Methacrylate (MMA) companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the United States Methyl Methacrylate (MMA)’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

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