Published: 2019-10-04   Views: 11
Author: abhi3002
Published in: Business
Global  Methyl Methacrylate Market   Revenue To Witness Steady Growth Through 2025

Methyl Methacrylate Market (MMA) can be manufactured by various methods, the principal one being the cyanohydrin route. The manufacturing process of Methyl Methacrylate involves petrochemical as a feedstock, thus any fluctuations in the crude oil prices impact the Methyl Methacrylate market. MMAis a monomer usually used as a raw material for the production of several polymers. Majority of Methyl Methacrylate produced is polymerized into two categories namely homopolymers and copolymers. Around 75% of MMA is used as a raw material in the production of Polymethylmethacrylate (PMMA). Other applications include acrylic plastic & resins, surface coatings, impact modifiers,emulsion polymers, mineral based sheets, higher methacrylates, polyester modifiers and others. MMA market in China has been rising on account of rapid growth in Paints and Coatings segment. PMMA is the most commonly used polyacrylate and its increasing use in end use industries is accelerating the Methyl Methacrylate market. Other major driving factor for Methyl Methacrylate demand is a rise in demand for the lightweight automobiles in China. China is one ofthe major players in MMA production and accounts for around 726 kilotons of MMA capacity. Major manufacturers include CNPC group, Mitsubishi, Lucite and Evonik accounting for 89% of the total capacity. The MMA market in China is expected to grow at a CAGR of 4.7% during 2018-2025. Planned or unplanned shutdowns and crude oil prices skyrocketed the MMA price between $ 2700-3100 per tonne around the world in October. There has been a steep decline in crude oil price from Oct 2018 ($75/barrel) to Dec 2018 (Around $45/barrel) and has led to a decline in MMA production cost. This will facilitate the MMA manufacturers to provide the monomer at cheaper rates and further impact on the PMMA price.

Methyl Methacrylate (MMA) can be manufactured by various methods, the principle one being the cyanohydrin route. Manufacturing process of Methyl Methacrylate involves petrochemical as a feedstock, thus any fluctuations in the crude oil prices impact the MMA market. MMA is a monomer usually used as a raw material for the production of several polymers. Majority of MMA produced is polymerized into two categories namely homopolymers and copolymers. Around 75% of MMA is used as raw material in the production of Polymethylmethacrylate (PMMA). Other applications include acrylic plastic & resins, surface coatings, impact modifiers, emulsion polymers, mineral based sheets, higher methacrylates, polyester modifiers and others. PMMA is the most commonly used polyacrylate and its increasing use in end use industries is accelerating the MMA market. Other major driving factor for MMA demand is rise in demand for lightweight automobiles with improved emission control.

The global MMA demand is forecast to grow at a CAGR of 3.5% to 4.0% in the long-term forecast till 2025. China and United States are the major consumers of MMA. Emerging chemical and plastic manufacturing industries in growing economies of Asia-Pacific region is likely to push the MMA market upwards during the forecast period. China s share is likely to account for around 23% of the global MMA consumption.

 

For More Report :- https://prismaneconsulting.com/reports

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