Methyl Methacrylate Market to Rise at 8% CAGR till 2027; Driven by Increasing Number of Company Mergers and Acquisitions by Large Scale Companies

The global methyl methacrylate market size is projected to reach USD 23.45 million by the end of 2027. Increasing investment in product R&D will contribute to the growth of the overall market in the coming years. According to a report published by Fortune Business Insights, titled “Methyl Methacrylate (MMA) Market Size, Share & COVID-19 Impact Analysis, By Application (Chemical Intermediate, Surface Coatings, Emulsion Polymer), By End-Use (Building & Construction, Automotive, Electronics, Paints & Coatings, and Others), and Regional Forecast, 2020-2027,” the market was worth USD 12.57 million in 2019 and will exhibit a CAGR of 8% during the forecast period, 2020-2027.

Methyl methacrylate is an industrial polymer that is used in several applications. The product is widely used in manufacturing of materials that are widely used in daily life including thermoplastics and stainless steel. The rising applications of the product across diverse industry verticals ill create several growth opportunities for the companies operating in the market. The increasing investment in the research and development of efficient and low cost methyl methacrylate will emerge in favor of the growth of the overall market in the coming years. The presence of several large scale companies across the world will subsequently influence the growth of the market. The material is also used in construction activities as a binder in cement, paints and coatings, adhesives and sealants, and instrument panels. The report highlights a few of the primary factors that have contributed to the growth of the market in recent years.

Accounting to Rising Product Demand, Companies are Looking to Increase Production Capacities

The report highlights a few of the newer strategies adopted by large scale companies. It is observed that increasing product demand has encouraged large scale companies to invest heavily in development of larger production facilities as well as upgrade existing production capacities. In April 2018, The Saudi Methacrylates Company (SAMAC) announced that it has initiated the operations of PMMA and MMA plants in Saudi Arabia. The production facilities will help the company acquire a wider consumer base not just in this region, but across the world. The company claims that this plant will be capable of producing around 40,000 tonnes of PMMA as well as 250,000 tonnes of MMA every year. These production facilities will have a huge impact on the growth of the market, not just in the Middle East and Africa, but also the global methyl methacrylate market in the coming years. The report also discusses a few of the other industry developments of recent times and states their impact on the growth of the overall market.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/methyl-methacrylate-mma-market-103295

Rising Building and Construction Activities will Bode Well for Market Growth

The report includes several factors that have contributed to the growth of the market in recent years. The increasing building and construction activities have provided the perfect platform for rapid growth. The rising building and construction activities will create several growth opportunities for the companies operating in the market across the globe. The product is used as a binding mixture in cement concrete, liquid waterproofing, rigidity, and dimensional stability.

Large Scale Companies are Focused on Strategic Collaborations

Encouraged by increasing demand for methyl methacrylate across the world, several large scale companies are looking to incorporate strategies that will help them establish a stronghold in the market. A few of the leading companies are continually focusing on strategic collaborations, with the aim of capitalizing on the rising product demand. Moreover, the increasing applications of the product will create several opportunities for the companies in the global market.

List of companies profiled in the report:

•  Arkema (France)
• Sumitomo Chemical Company (Japan)
• Dhalop Chemicals (India)
• Kuraray Group (Japan)
• Saudi Methacrylates Company (SAMAC) (Saudi Arabia)
•  The Dow Chemical Company (U.S.)
• Asahi Kasei Corporation (Japan)
• Huntsman Corporation (U.S.)
• Lucite International (UK)
•  Mitsubishi Chemical Corporation (Japan)
•  Other Key Players

Industry Developments:

• In April 2018 – SABIC and Mitsubishi Chemical Corporation announced that it has formed a joint venture with SAMAC, to start the production of PMMA and MMA at Jubail plants.

The global MMA market is segmented on the basis of: