METHYL METHACRYLATE MARKET ANALYSIS

Methyl Methacrylate Market Size and Trends

The methyl methacrylate market is estimated to be valued at USD 18.21 Bn in 2024 and is expected to reach USD 30.61 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031.

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Methyl methacrylate is used in the production of a variety of applications such as acrylic sheets, paints and coatings, and adhesives and sealants among others. The methyl methacrylate market is expected to witness significant growth over the forecast period. This can be attributed to growing demand from the construction industry for polymethyl methacrylate sheets and rising usage of methyl methacrylate in various commercial applications such as automotive body parts and signs. In addition, increasing investments in infrastructure and building & construction projects globally are expected to drive the consumption of methyl methacrylate.

Construction Industry Growth

The global construction industry growth has been steadily increasing over the past few years and this upward trend is expected to continue going forward. There has been rise in infrastructure development activities around the world with many countries investing heavily in building roads, bridges, airports, rail networks, and other construction projects. For example, China has ambitious plans for its belt and road initiative which involves infrastructure projects throughout Asia Pacific and Africa. Similarly, India has launched major infrastructure development programs like smart cities mission to modernize its cities. The growth in the construction industry naturally demands more building materials like cement, steel, glass, plaster, etc. Methyl methacrylate finds wide usage in construction primarily due to its excellent bonding properties. It is used as an adhesive for making floor tiles, countertops, and other interior finishing products. Many glass manufacturers also use methyl methacrylate based adhesives for bonding glass to other materials in facades, windows and other architectural glass products. Furthermore, increasing use of plastics in modern construction has opened up avenues for MMA. Plastic sheets made of MMA are finding increased application in construction of canopies, fences, and other structural elements due to their weather resistance, durability, and lightweight properties. Overall, the rising global construction expenditures, increasing plastic usage in construction coupled with ongoing urbanization and infrastructure development projects bode well for the demand of MMA in the coming years. The global methyl methacrylate market is anticipated to experience steady growth riding on the coat-tails of robust construction sector expansion worldwide. Countries with most aggressive infrastructure spending are likely to emerge as major markets for MMA in construction applications going ahead.

Use in sign & display industry

The sign and display industry has seen tremendous growth in recent years, especially with the rise of digital signage. Methyl methacrylate (MMA) is a key raw material used in the production of acrylic sheets and panels that see widespread use in signs, displays and digital screens. Given its lightweight yet durable qualities along with high clarity and UV resistance, acrylic sheets made from MMA are the ideal choice for outdoor signage and indoor displays. As more businesses look to outdoor and indoor digital signage for advertising and wayfinding purposes, the demand for MMA is surging.

According to the International Energy Agency, global electricity consumption from digital screens in public and commercial buildings is expected to increase by 50% from 2020 to 2023. This growth in digital signage is a major driver expanding the use of MMA-based acrylic sheets for screen protection, covers and structural components. Industries such as retail, transportation and real estate with a need for high volume outdoor signage as well as indoor digital displays continue to expand installations. As the quality, longevity and reduction in cost of LED screen technology improves, an increasing number of small and medium businesses are also adopting digital signage solutions and driving the utilisation of MMA.