28 November 2019
The Europe Methyl Methacrylate (MMA) Market Report 2020-2030: Forecasts by End Use, By Application (Chemical Intermediate, Surface Coating & Adhesives, Emulsion Polymers), by region and analysis of leading companies operating in this industry.
The Europe Methyl Methacrylate (MMA) market size is estimated to exceed USD 10 billion by 2020 and is expected to grow over the forecast period at a CAGR of more than 3.9 percent. Due to increased demand for polymethyl methacrylate (PMMA) in end-use sectors such as automotive, construction, medical, and electronics, the market is expected to see significant growth over the forecast period. The use of MMA in the construction sector is propelled by the restoration of Europe's real estate industry. Rising demand for automobiles improved vehicle design capabilities, and growing value of lightweight and emission control vehicles are major drivers of MMA demand in the automotive industry.
In the processing of various polymers such as styrene methyl methacrylate (SMMA), polymethyl methacrylate (PMMA), and methacrylite acrylonitrile butadiene styrene (MABS), the majority of the MMA produced is consumed by producers as a chemical intermediate. MMA monomers are used in paint and coating processing. We are also used to manufacture weather-resistant and waterproof, durable coatings. Low volatile organic compound (VOC) content of methacrylic monomers makes them suitable for use in road marking and marine coating applications.
Most countries ' governments have banned the selling and use of such plastic products, such as polythene bags. In addition, different countries make specific rules and regulations for the disposal of plastic waste and encourage the development of plastic recycling technologies & facilities as well as providing policy support. Government initiatives to use plastic waste as a feedstock for recycled methyl methacrylate generation are expected to drive the Europe methyl methacrylate demand over the forecast period.
Some of the factors likely to cause market growth are revitalized automotive market, increased customer disposable income, and increased construction and infrastructure spending in Member States of the European Union. Growing investment in the building and construction industry, which was the largest sales segment in 2020, fuels MMA demand primarily. The main driver of consumer demand triggering is the emergence of EU energy efficiency programs, such as Horizon 2020, to achieve energy efficiency in residential and commercial spaces.
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