by Methyl methacrylate (MMA) is an alkyl methacrylate ester which is a clear, colorless and highly flammable liquid. It is a widely used chemical compound and a precursor to various polymers and acrylic products. MMA finds applications in automotive, construction, electronics and other industries due to is light weight, transparency and durability properties. The growing demand from the automotive and construction industries has been driving the demand for MMA in the recent times.
The United States Methyl Methacrylate (MMA) Market is estimated to be valued at US$ 1.86 Bn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the United States Methyl Methacrylate (MMA) are Mitsubishi Chemical Corporation, Röhm, The Dow Chemical Company, Huntsman Corporation, Evonik Industries AG, BASF SE, Lucite International, and Plaskolite. These players are focusing on capacity expansion plans to cater to the growing demand.
The key opportunities in the MMA market include rising demand for strong, lightweight materials from automotive and construction industries. The growing infrastructure development activities in the US is expected to propel the demand for MMA based polymers for various construction applications over the coming years.
Geographically, Asia Pacific dominates the global MMA market and similar trend is expected in the US MMA market owing to increasing construction activities particularly in Western US. The increasing automotive production in Southern US is also driving the MMA consumption.
Market Drivers
The primary driver for MMA market in the US is the rising demand from the automotive industry. MMA based polymers are increasingly used to manufacture lightweight components in vehicles to improve fuel efficiency. With stringent emission norms, demand for lightweight materials from automakers is surging which is benefiting the MMA market. Moreover, the recovering construction industry in the US along with various infrastructure projects is propelling the consumption of MMA for glass fiber reinforced polymers, coatings and other applications.
PEST Analysis
Political: The MMA market in the United States is subject to stringent environmental and safety regulations set by the Environmental Protection Agency.
Economic: Changes in the overall macroeconomic conditions like GDP growth, construction industry growth, automotive production directly impact the demand for MMA in various end-use industries.
Social: MMA industry players focus on developing more environmentally sustainable production processes and products to meet the needs of a socially and environmentally conscious society.
Technological: Advancements in polymer synthesis and production technologies have enabled development of higher performance MMA-based polymers and composites. Emerging technologies like 3D printing also offer new application avenues.
The United States MMA market is geographically concentrated in the Southern and Western regions in terms of value. States like Texas, California, Florida and Pennsylvania account for nearly 50% of the country’s total MMA demand led by thriving end-use industries in these regions. The Midwest region encompassing states like Illinois, Ohio and Michigan has also emerged as a major MMA consumer base recently with reviving manufacturing activities.
The Southeast Asia and Middle East & Africa regions have been witnessing strongest growth in demand for MMA in the global market. Establishment of polymer manufacturing facilities by leading producers in countries like China, India, Saudi Arabia and countries across ASEAN is augmented by the rapid infrastructure development and growth of industries like construction and automotive in these regions.
What Are The Key Data Covered In This Methyl Methacrylate Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Methyl Methacrylate ‘s growth between 2024 and 2031.
:- Accurate calculation of the size of the Methyl Methacrylate and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Methyl Methacrylate Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Methyl Methacrylate vendors
FAQ’s
Q.1 What are the main factors influencing the Methyl Methacrylate ?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Methyl Methacrylate companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Methyl Methacrylate ’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
