Methyl Methacrylate (MMA) Market 2022 Size, Share, Growth, and Covid-19 Impact by 2027

 Market Overview

Around the forecast period, the worldwide methyl methacrylate market is expected to reach over 5.7 million tonnes, with a CAGR of 3.4 percent. During the forecast period, rising demand for methyl methacrylate for the production of polymethyl methacrylate (PMMA) and other polymers is expected to fuel the growth of the Methyl Methacrylate (MMA) Market.

Methyl Methacrylate (MMA) Background

Polymethyl Methacrylate (PMMA) is made from a vast amount of methyl methacrylate around the world (approximately 50 percent of global production). The automobile industry uses polymethyl Methacrylate to make a range of parts and components, including external, rear, and indicator light covers; decorative trims; ambient lighting; door entry strips; automotive glass, and so on. PMMA is the most perfect resin for the Automotive industry because of its main characteristics, such as lightweight, good scratch resistance, and low-stress birefringence, among others.

Plastic trash production is rapidly increasing, which has the potential to harm the ecosystem. Global plastic garbage production totaled 4.9 billion tonnes in 2017. Only about a tenth of the plastic garbage was recycled. Plastic products, the majority of which are non-biodegradable, are causing environmental damage, and regulatory bodies are making attempts to mitigate this.

Many nations, for example, have passed laws prohibiting the sale and use of specific plastic items, such as polythene bags. Various countries are also enacting strict rules and regulations for the disposal of plastic trash, as well as encouraging and supporting the development of plastic recycling technologies and infrastructure through policy assistance.

The project's goal is to create at least 12,250 tonnes of recycled methyl methacrylate from 27,000 tonnes of PMMA trash and end-of-life products. During the forecast period, all such government initiatives for recycling plastic waste as a feedstock to manufacture recycled methyl methacrylate are likely to drive the worldwide Methyl Methacrylate (MMA) Market.

Worldwide Analysis

In the Asia Pacific, Latin America, and other regions, China and South Korea are major exporters of methyl methacrylate. China and South Korea are expected to grow in volume together, reaching 1.9x by the end of the projected period.