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United States Methyl Methacrylate Market
United States Methyl Methacrylate (MMA) market Size And Share Analysis - Growth Trends And Forecasts (2024 - 2031)
The United States Methyl Methacrylate Market is estimated to be valued at USD 1.86 Bn in 2024 and is expected to reach USD 2.46 Bn by 2031, growing at a CAGR of 4.8% from 2024 to 2031.” - CoherentMIBURLINGAME, CA 94010, UNITED STATES, August 22, 2024 /EINPresswire / -- The United States Methyl Methacrylate (MMA) Market is estimated to be valued at USD 1.86 Bn in 2024 and is expected to reach USD 2.46 Bn by 2031, growing at a CAGR of 4.8% from 2024 to 2031.
Market Overview:
Methyl methacrylate (MMA) is a synthetic compound that is a key raw material used across several end-use industries including construction, automotive, electronics and healthcare. In the construction industry, it is used in production of plexiglass sheets, glass-fiber reinforced plastics and ceramic tiles.
Market Dynamics:
The expanding construction industry in the United States acts as a key driver for the growth of MMA market. Rapid urbanization along with various infrastructure development projects across states have increased the demand for buildings and structures. Furthermore, rising disposable income has propelled residential construction activities in the country. Additionally, growing automotive production along with increasing use of MMA in automotive parts manufacturing is also fueling the market growth. MMA finds wide application in manufacturing automotive interior and exterior parts like instrument panels, vehicle trims and head and tail light components.
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Growing Demand from Automotive Industry Signals Positive Outlook for Methyl Methacrylate Market
Increased Usage in Automotive Plastics Drives MMA Consumption
The automotive industry has emerged as a major end-user of MMA in the United States. MMA is widely employed in automotive applications to manufacture plastics, coatings, and additives that are finding increasing utilization in modern vehicles. In particular, polymethyl methacrylate (PMMA) derived from MMA is gaining popularity as a substitute for chrome plating, which makes automotive parts lighter and offers design flexibility. PMMA is also being used to produce translucent paneling, instrument panels, interior trims, and illuminated trim strips inside vehicles. With light-weighting gaining importance for fuel efficiency and mileage standards getting stringent, the demand for MMA from automotive plastics manufacturing is expected to increase significantly over the next five years.
Rising Demand in Thermoplastic Applications Boosts Market Potential
Apart from growing automotive applications, MMA also witnesses rising adoption in thermoplastic applications such as paints & coatings, adhesives & sealants, and others. MMA is a crucial raw material for producing thermoplastics like polymethyl methacrylate and polyethyl methacrylate. These plastics find widespread usage as transparent panels, glazing sheets, and lighting diffusers across various industry verticals. Additionally, acrylic resins synthesized from MMA are gaining traction in paints and coatings applications due to their durability, weather resistance, and gloss retention properties. With the construction industry witnessing an upswing and consumer spending on home improvement rising, the market for MMA-based thermoplastic formulations is set to increase in the coming years.
Declining Coal Production Restricts MMA Supply
Even as demand prospects for MMA remain positive in end-use industries, constraints in MMA supply threaten to hamper market growth potential. MMA is traditionally manufactured via the acetone cyanohydrin process, which utilizes propylene derived from crude oil refining or propane/propane gases. However, a major portion of the raw material propylene is also produced through coal carbonylation and fluid catalytic cracking of petroleum. With coal production significantly declining in the United States amid stringent environmental norms, availability of propylene from coal carbonylation is reducing. This is diminishing the flexibility of MMA producers to switch between crude oil and coal-based raw materials. Unless alternative feedstock sources are tapped or sustainability initiatives implemented, constrained supply could hold back the country's MMA market from reaching its full potential.
Opportunity to Leverage by-Product Hydrogen Peroxide Needs
While tightening supply creates challenges, MMA producers could leverage the growing demand for hydrogen peroxide - a crucial by-product generated during MMA manufacture through the acetone cyanohydrin route. Hydrogen peroxide finds myriad utility across industries such as chemicals, food processing, paper & pulp, water treatment, and electronics. In the US, its consumption is rising steadily driven by innovation in medical equipment, disinfectants, and specialty applications. MMA manufacturers optimizing production processes and capacities to capture value from this co-product could boost margins and competitiveness. With hydrogen peroxide markets in developed nations likely to grow 3-4% annually through 2025, this presents an viable commercialization avenue for MMA stakeholders in the country.
Adoption of 3D Printing Set to Fuel Long-term Opportunities
One emerging macro trend with promising implications is the rising popularity of 3D printing technologies. MMA serves as a key feedstock for specialty resins and filaments utilized in 3D printing applications. Its optical clarity, lightweight properties, and impact resistance make acrylics synthesized from MMA suitable for producing prototypes, consumer goods, and specialized industrial parts via additive manufacturing methods. The United States, being at the forefront of innovation, has witnessed accelerated adoption of 3D printing across industries in recent years. As technological capabilities improve, more complex final products are expected to be 3D printed using MMA-based materials. This expanding market opens new avenues for MMA suppliers to develop specialized grades and collaborate with technology firms. Over the long-run, 3D printing revolution could deliver substantial growth drivers for MMA consumption in the country.
Detailed Segmentation and Classification of the report (Market Size and Forecast – 2031, Y-o-Y growth rate, and CAGR):
❖ By Product Type
)) Chemical Intermediate
)) Surface Coating
)) Others (Emulsion Polymer)
❖ By End Use Industry
)) Building & Construction
)) Automotive
)) Electronics
)) Paints & Coatings
)) Others (Aerospace, etc.)
❖ Following are the key players analyzed in the report:
▪️ Mitsubishi Chemical Corporation
▪️ Röhm
▪️ The Dow Chemical Company
▪️ Huntsman Corporation
▪️ Evonik Industries AG
▪️ Others
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The research provides answers to the following key questions:
1. What is the estimated growth rate of the market for the forecast period 2024-2031? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the United States Methyl Methacrylate (MMA) market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the United States Methyl Methacrylate (MMA) market?
4. What are the prominent market trends influencing the development of the United States Methyl Methacrylate (MMA) market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the United States Methyl Methacrylate (MMA) market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?
Key Insights:
- New Production Methods: Emerging technologies like continuous polymerization are boosting capacity and reducing costs for major players like Evonik and Mitsubishi Chemical.
- Materials Innovation: Developments in specialty MMA grades are opening opportunities in high-growth areas like automotive and medical devices.
- Regional Expansion: Asian firms are investing in the US to access local supply chains and capture the rebounding construction market.
- Sustainable Solutions: Bio-based MMA production and recyclable polymers are gaining traction as customers demand greener materials.
- Consolidation Accelerates: Mega-mergers like Celanese-MMA reshape industry dynamics as leaders bulk up to defend margins.
Author of this marketing PR:
Priya Pandey is a dynamic and passionate PR writer with over three years of expertise in content writing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes writing contents and documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
About CoherentMI:
At CoherentMI, we are a leading global market intelligence company dedicated to providing comprehensive insights, analysis, and strategic solutions to empower businesses and organizations worldwide. Moreover, CoherentMI is a subsidiary of Coherent Market Insights Pvt Ltd., which is a market intelligence and consulting organization that helps businesses in critical business decisions. With our cutting-edge technology and experienced team of industry experts, we deliver actionable intelligence that helps our clients make informed decisions and stay ahead in today's rapidly changing business landscape.
Mr. Shah
CoherentMI
+1 650-918-5898
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