The Europemethyl methacrylate (MMA) market size is
expected to reach USD 4.26 billion by 2028, according to a new report by Grand
View Research, Inc., registering a CAGR of 8.0% during the forecast period.
Methyl methacrylate is used as a precursor of polymethyl methacrylate (PMMA),
which is used in the manufacturing of various automotive, industrial, and
electronic components. Durability and resistance to UV and extreme weather
conditions make MMA an ideal material for various applications in these
industries.
MMA, the key raw material used for the
production of PMMA, is an unsaturated ester widely utilized to produce polymers
for a wide range of industrial and consumer applications, including surface
coatings, injection molding and extrusion, and various transparent
impact-resistant plastic sheets.
Growing importance of lightweight vehicles with reduced CO2 emissions and
improved fuel efficiency is expected to drive the consumption of PMMA in the
automobile sector. Automotive and building and construction sectors have
started using lightweight components made from PMMA as replacements for their
metal counterparts.
MMA is also used as a modifier for
polyvinyl chloride (PVC), which is also used in the manufacturing of automotive
components such as armrests, door panels, and window sealing. Increasing use of
PMMA and PVC, which uses MMA as a raw material, in various end-use industries
is propelling market growth.
In Europe, recovery of end-use industries
such as construction and automotive has resulted in demand for PMMA. However,
the shutdown of production operations due to unforeseen circumstances has
resulted in supply shortage, although its demand from PMMA producers continues
to grow. This supply shortage has provided opportunities for Middle East and
Asia Pacific producers to cater to demand for MMA in Europe.
Access Research Report of Europe Methyl Methacrylate Market @ https://www.grandviewresearch.com/industry-analysis/europe-methyl-methacrylate-mma-market
Further key findings from the report suggest:
· In Europe, a large portion of MMA is
utilized as a chemical intermediate for captive consumption by producers. Owing
to this, its application as a chemical intermediate was estimated as the
largest segment in 2017
· Demand is driven by robust growth in
manufacturing of lightweight vehicles, construction of energy-efficient
buildings, and production of LCD and LED panels. In terms of volume, construction
was estimated to be the largest end-use segment in 2017, accounting for a
market share of 39.17%
· Exposure to MMA causes health issues such
as respiratory irritation and dermal sensitivity and is often associated with
occupational asthma. In addition, various petrochemicals used as feedstock in
synthesis, such as ethylene, isobutylene, and acetone, are highly flammable and
pose a severe threat to human safety. However, PMMA is regarded as a low hazard
ingredient and is considered safe for use.
Grand View Research has segmented the
Europe methyl methacrylate (MMA) market on the basis of application, end use,
and region:
Europe Methyl Methacrylate Application
Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2028)
·
Chemical Intermediate
·
Surface Coating & Adhesives
·
Emulsion Polymers
Europe Methyl Methacrylate End Use Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2028)
·
Construction
·
Automotive
·
Electronics
·
Others
Europe Methyl Methacrylate Regional Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2028)
·
Turkey
·
European Union
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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