The global MMA markets are presenting signs of recovery after a period of slowdown with strong demand forecasts of polymethyl methacrylate shaping the future of Methyl Methacrylate sales. MMA plays a key role in the production of plastics, paints and coatings, adhesives, and others. End-user industries including PMMA, T-ABS and the coatings present strong growth signs in 2024, driving the demand for MMA. The Methyl Methacrylate market is highly dynamic with strong prospects for traders. In particular, Q1 presents strong opportunities for companies exporting to the Asian importers. Potential advantages such as optical clarity, resistance to UV radiation, yellowing, and weathering, lightweight, impact resistance, durability, and biocompatibility drive the sales volume.
The global MMA capacity is estimated at 5.2 Mtpa with capacity additions continuing to drive the global methyl methacrylate industry. An estimated 300 Mtpa capacity is likely to be added in the Chinese provinces. With domestic production increasing in China and other Asian markets, large players such as Mitsubishi are restructuring their production volumes.
The company announced plans to close two of the three production lines for methyl methacrylate (MMA) monomer and polymethyl methacrylate (PMMA) in Singapore from September 2024. On the other hand, it is planning final investment decision (FID) on 350,000 Tonnes MMA project in Louisiana. Further, the production and exports from Saudi Arabia play a major role in supply-demand conditions, thereby, impacting the global prices. Plant shutdowns and aging infrastructure also play a role in the overall pricing of the chemical intermediate.
Acetone Cyanohydrin (ACH) Process and C4 Process (Isobutylene Process) are the dominant technologies used in MMA manufacturing with the former widely used in the US while the later technology deployed more in APAC/Middle East. Acetone Cyanohydrin (ACH) Process involves the reaction of acetone and hydrogen cyanide (HCN) to form acetone cyanohydrin, which is then converted to MMA using sulfuric acid. On the other hand, C4 process uses isobutylene (C4 compound) as the main raw material, reacting with methanol in the presence of an oxidizing agent to form MMA.
In addition, capital intensive Ethylene-Based (Alpha) Process is also gaining significant market penetration. In addition, Bio-Based MMA Production (using biomass feedstocks such as glycerol, sugar-based derivatives), direct Oxidation process (oxidizing propylene to form MMA without intermediate steps), Catalytic Route Innovations, and others are gaining rapid market size.
The prices of acetone directly affect the demand for Methyl Methacrylate prices and profit margins. For instance, the Acetone prices in Europe during the second half of 2023 averaged around $1200 per metric ton, driven by factors like low demand, higher inventories, and competition from Asian imports. Similarly, Isobutylene prices have a direct correlation with the oil and gas prices. Higher raw material prices, particularly acetone, contribute directly to rising MMA production costs. In Q1 2024, the strengthening of acetone prices, along with crude oil price hikes, caused MMA prices in Europe and the Americas to rise.
Among Methyl Methacrylate Applications, PMMA accounted for 48.9% market share in 2024.
Over 48.9% of Methyl Methacrylate production is directed to the production of PMMA. In addition, paints and coatings segment generated a 36.5% revenue share in 2024. The end-user industries including automotive, construction, healthcare, electronics, aerospace, packaging, adhesives and sealants are witnessing steady demand growth, thereby, supporting the sales of MMA. In addition, new infrastructure development plans across emerging countries support the long-term market outlook. Growing demand for coatings and adhesives in China and other containers drive the MMA market size over the forecast period.
The building and construction segment accounts for 37.6% of the MMA market, making it the largest revenue generator. MMA-based materials, particularly Polymethyl Methacrylate (PMMA), are highly valued in construction for applications such as flooring systems, sealants, waterproofing membranes, and exterior coatings. According to the U.S. Census Bureau, construction spending in the U.S. increased to $1.81 trillion in 2022. Similarly, according to data from the World Bank, China's urban population reached 64% of the total population in 2022. In India also, the real estate market grew at a rate of 10% annually due to increased urban development. Strong demand from residential and non-residential construction continues to drive the sales of Methyl Methacrylate.
China is the largest market for MMA worldwide, accounting for 26.8% market share. Further, Chinese prices of MMA reached around $2.9 per Kg. The regional automobile and construction industries, replacement of old MMA technologies and plants, raw material availability, capacity additions in China and Northeast Asian countries drive the market. The Asian Development Bank (ADB) projects that Asia needs to invest approximately $1.7 trillion per year in infrastructure to maintain its growth momentum through 2030.
Accordingly, companies are investing significantly in new capacity additions. Jiangsu Sailboat Petrochemical Co., Ltd. (Shenghong Group), Xinjiang Zhongyou Puhui Energy Technology Co., Ltd., Henan Zhongyuan Dahua Group Co., Ltd., Dongming Huayi Yuhuang Chemical Co., Ltd., and Shandong Chengtai Chemical Industry Co., Ltd are planning new capacity additions in China.
The global Methyl Methacrylate market is fragmented with the presence of both local and global players. Leading companies included in the study are Arkema S.A., Asahi Kasei Corp, BASF SE, Chimei Corp, Chirag Enterprise, Dow Inc, Heilongjiang Zhongmeng Longxin Chemical Co. Ltd, Kowa India Pvt. Ltd, KURARAY Co. Ltd, LG Corp, LOTTE MCC Corp, Mitsubishi Chemical Corp, Mitsubishi Gas Chemical Co. Inc, Mitsui Chemicals Inc, RAG Stiftung, Saudi Basic Industries Corp, Sumitomo Chemical Co. Ltd, Trinseo PL, Vell Plast, Zhejiang Dongue Chemical Co. Ltd, and others.
|
Parameter |
Details |
|
Market Size (2024) |
$9.6 Billion |
|
Market Size (2032) |
$14 Billion |
|
Market Growth Rate |
4.8% |
|
Largest Segment- Application |
PMMA (48.9% market share) |
|
Fastest Growing Market- Region |
Asia Pacific (5.2% CAGR) |
|
Largest Segment- End-User |
Building and Construction (37.6% Revenue Share) |
|
Dominant Technology |
ACH Process |
|
Segments |
Types, Technology, Applications |
|
Study Period |
2018- 2023 and 2024-2032 |
|
Units |
Revenue (USD) |
|
Qualitative Analysis |
Porter’s Five Forces, SWOT Profile, Market Share, Scenario Forecasts, Market Ecosystem, Company Ranking, Market Dynamics, Industry Benchmarking |
|
Companies |
Arkema S.A., Asahi Kasei Corp, BASF SE, Chimei Corp, Chirag Enterprise, Dow Inc, Heilongjiang Zhongmeng Longxin Chemical Co. Ltd, Kowa India Pvt. Ltd, KURARAY Co. Ltd, LG Corp, LOTTE MCC Corp, Mitsubishi Chemical Corp, Mitsubishi Gas Chemical Co. Inc, Mitsui Chemicals Inc, RAG Stiftung, Saudi Basic Industries Corp, Sumitomo Chemical Co. Ltd, Trinseo PL, Vell Plast, Zhejiang Dongue Chemical Co. Ltd |
|
Countries |
US, Canada, Mexico, Germany, France, Spain, Italy, UK, Russia, China, India, Japan, South Korea, Australia, South East Asia, Brazil, Argentina, Middle East, Africa |
Application
Technology
End-Users
Countries Analyzed
Methyl Methacrylate Companies Profiled in the Study
*- List Not Exhaustive
About USD Analytics
Table of Contents
1. Executive Summary
What’s New in 2024?
Top 10 Takeaways from the industry
Potential Opportunities for Industry Stakeholders
Strategic Imperatives
Company Market Positioning
Industry Benchmarking Matrix
2. Research Scope and Methodology
Market Definition
Market Segments
Companies Profiled
Research Methodology
Data Sources
Conversion Rates for USD
Abbreviations
3. Strategic Landscape: Key Insights and Implications
Spotlight: Key Strategies opted by Business Leaders
Competitive Landscape
SWOT Analysis
Porter’s Five Force Analysis
Macro-Environmental Analysis
5. Growth Opportunity Analysis
Trends at a Glance
Market Dynamics
Key Industry Stakeholders
Regulatory Landscape
6. Market Size Outlook to 2032
Global Methyl Methacrylate Market Size Forecast, USD Million, 2018- 2032
Scenario Analysis
Pricing Analysis and Outlook
7. Historical Methyl Methacrylate Market Size by Segments, 2018- 2023
Key Statistics, 2024
Methyl Methacrylate Market Size Outlook by Type, USD Million, 2018-2023
Growth Comparison (y-o-y) across Methyl Methacrylate Types, 2018-2023
Methyl Methacrylate Market Size Outlook by Application, USD Million, 2018-2023
Growth Comparison (y-o-y) across Methyl Methacrylate Applications, 2018-2023
8. Methyl Methacrylate Market Size Outlook by Segments, 2024- 2032
Methyl Methacrylate Market Size Outlook by Application, USD Million, 2024-2032
Growth Comparison (y-o-y) across Methyl Methacrylate Applications, 2024-2032
Methyl Methacrylate Market Size Outlook by Technology, USD Million, 2024-2032
Growth Comparison (y-o-y) across Methyl Methacrylate Technology, 2024-2032
Methyl Methacrylate Market Size Outlook by End-Users, USD Million, 2024-2032
Growth Comparison (y-o-y) across Methyl Methacrylate End-Users, 2024-2032
9. Methyl Methacrylate Market Size Outlook by Region
North America
Europe
Asia Pacific
South America
Middle East and Africa
10. United States Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
United States Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
United States Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
United States Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
11. Canada Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
Canada Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
Canada Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
Canada Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
12. Mexico Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
Mexico Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
Mexico Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
Mexico Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
13. Germany Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
Germany Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
Germany Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
Germany Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
14. France Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
France Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
France Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
France Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
15. United Kingdom Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
United Kingdom Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
United Kingdom Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
United Kingdom Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
10. Spain Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
Spain Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
Spain Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
Spain Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
16. Italy Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
Italy Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
Italy Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
Italy Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
17. Benelux Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
Benelux Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
Benelux Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
Benelux Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
18. Nordic Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
Nordic Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
Nordic Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
Nordic Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
19. Rest of Europe Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
Rest of Europe Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
Rest of Europe Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
Rest of Europe Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
20. China Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
China Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
China Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
China Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
21. India Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
India Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
India Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
India Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
22. Japan Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
Japan Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
Japan Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
Japan Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
23. South Korea Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
South Korea Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
South Korea Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
South Korea Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
24. Australia Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
Australia Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
Australia Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
Australia Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
25. South East Asia Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
South East Asia Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
South East Asia Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
South East Asia Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
26. Rest of Asia Pacific Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
Rest of Asia Pacific Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
Rest of Asia Pacific Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
Rest of Asia Pacific Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
27. Brazil Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
Brazil Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
Brazil Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
Brazil Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
28. Argentina Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
Argentina Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
Argentina Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
Argentina Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
29. Rest of South America Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
Rest of South America Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
Rest of South America Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
Rest of South America Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
30. United Arab Emirates Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
United Arab Emirates Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
United Arab Emirates Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
United Arab Emirates Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
31. Saudi Arabia Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
Saudi Arabia Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
Saudi Arabia Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
Saudi Arabia Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
32. Rest of Middle East Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
Rest of Middle East Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
Rest of Middle East Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
Rest of Middle East Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
33. South Africa Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
South Africa Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
South Africa Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
South Africa Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
34. Rest of Africa Methyl Methacrylate Market Analysis and Outlook, 2021- 2032
Key Statistics
Rest of Africa Methyl Methacrylate Market Size Outlook by Type, 2021- 2032
Rest of Africa Methyl Methacrylate Market Size Outlook by Application, 2021- 2032
Rest of Africa Methyl Methacrylate Market Size Outlook by End-User, 2021- 2032
35. Key Companies
Market Share Analysis
Company Benchmarking
Financial Analysis
36. Recent Market Developments
37. Appendix
Looking Ahead
Research Methodology
Legal Disclaimer
Application
Technology
End-Users
Countries Analyzed
Emergence of New Technologies for MMA Manufacturing, Raw Material Fluctuations Result in Varying Profit Margins for Vendors,
PMMA (48.9% market share), Building and Construction (37.6% Revenue Share), ACH Process
The global Methyl Methacrylate market size is set to increase from $9.6 Billion in 2024 to $14 Billion in 2032, registering a CAGR of 4.8% during the forecast period
Arkema S.A., Asahi Kasei Corp, BASF SE, Chimei Corp, Chirag Enterprise, Dow Inc, Heilongjiang Zhongmeng Longxin Chemical Co. Ltd, Kowa India Pvt. Ltd, KURARAY Co. Ltd, LG Corp, LOTTE MCC Corp, Mitsubishi Chemical Corp, Mitsubishi Gas Chemical Co. Inc, Mitsui Chemicals Inc, RAG Stiftung, Saudi Basic Industries Corp, Sumitomo Chemical Co. Ltd, Trinseo PL, Vell Plast, Zhejiang Dongue Chemical Co. Ltd, and others
Asia Pacific (5.2% CAGR)