The Europe methyl 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.
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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
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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.
For More Information: www.grandviewresearch.com
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