U.S. Polymethyl Methacrylate Market Size, Share & Trends Report

U.S. Polymethyl Methacrylate Market Size, Share & Trends Analysis Report By Form (Extruded Sheet, Cast Acrylic Sheet, Pellets, Beads), By Grade, By Application, And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-515-1
  • Number of Pages: 80
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the U.S. polymethyl methacrylate market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for U.S. polymethyl methacrylate market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of U.S. polymethyl methacrylate market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

U.S. Polymethyl Methacrylate Market Categorization:

The U.S. polymethyl methacrylate market was categorized into three segments, namely form (Extruded Sheet, Cast Acrylic Sheet, Pellets, Beads), grade (General Purpose Grade, Optical Grade), application (Signs & Displays, Automotive, Construction, Lighting Fixtures, Electronics, Marine, Healthcare, Agriculture, Consumer Goods).

Segment Market Methodology:

The U.S. polymethyl methacrylate market was segmented into form, grade, and application. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The U.S. polymethyl methacrylate market was analyzed at a regional level.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

U.S. polymethyl methacrylate market companies & financials:

The U.S. polymethyl methacrylate market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Evonik Industries is a specialty chemical manufacturing company owned by RAG Foundation. The company was founded in the year of 2007 and is now headquartered in Essen, Germany. Evonik Industries offers a wide array of products including plastic additives, polymers, and photovoltaic & lithium-ion batteries. This includes Shrinkolite, Acrypet, and Dianal. Their ‘Performance Materials’ unit caters to diverse end-use industries such as healthcare & animal nutrition, consumer goods, coatings & additives, polymer materials, inorganic materials, and advanced intermediates. The company employs over 33,000 people and operates in more than 100 countries across the globe.

  • Altuglas is a subsidiary of the Arkema Group and an affiliate of the ‘Industrial Specialties’ business sector. The company is a supplier of high-quality acrylic sheets and resins as well as a producer of PMMA technology. Altuglas produces PMMA in different forms including sheets, resin, and beads with various surface finishes and a variety of colors and grades. Altuglas designs and develops innovative products for the industrial, medical, signing, automotive, and construction sectors. Altuglas is headquartered in France and it has production facilities across numerous countries in North and Latin America, Europe, and Asia (including Korea).

  • Kuraray Plastics, founded in 1926, was originally established for commercializing synthetic rayon. The company later evolved to manufacture various products such as chemicals, resins, fibers, textiles, high-performance materials, and medical products. Headquartered in Japan, the company now caters to various markets including automotive, architecture and construction, clothing, electronics, environment protection, healthcare and pharmaceuticals, paints and coating, paper and packaging, plastics, printing inks, solar, and sports equipment among others. The company has around 6 manufacturing plants across Japan and 2 R&D centers in Kurashiki and Tsukuba. The company has over 80 subsidiaries and affiliates and employs over 7,000 personnel as of 2014. To mention company’s strategic developments. In April 2015, Kuraray completed the acquisition of Australia’s Plantic Technologies, a bio-based barrier plastic materials producer.

  • Chi Mei Corp. (CMC), founded back in 1960, is a supplier and manufacturer of plastic and rubber materials. It is well-known as one of the largest vendors of Acrylonitrile butadiene styrene resins. Now, headquartered in Taiwan, the company was the region’s first acrylic panel and ABS resin producer. The company established the Zhenjiang Chi Mei Chemical plant in 1996 and currently has a workforce of around 3,400 employees across the region. The product portfolio of the company includes thermoplastic elastomers (TPE), high and low CIS butadiene rubber (HBR/LBR), styrene-butadiene rubber (SSBR), ABS, SAN, PS, MS, PC, PC/ABS, ASA, Q and PMMA resins among others. CMC has various businesses including optoelectronic materials, consumer electronics, plastics and petrochemicals, and foods as well as non-profit organizations, including medical centers and foundations.Sumitomo Chemicals Co., Ltd. is now headquartered in Japan and was founded in 1913 as a fertilizer manufacturer. At present, the company has over 100 subsidiaries & affiliates. It operates in five business segments, which include basic chemicals, health & crop sciences, petrochemicals, pharmaceuticals, and IT-related chemicals. The company has chemical/petrochemical manufacturing facilities in China, South Korea, Saudi Arabia, Singapore, Thailand, and Taiwan. The key product offering of the company is sumipex PMMA molding resins which have applications in areas such as Automotive exteriors and interiors, home appliances, electronics, IT-related materials, optical device lenses, and others.

  • The Dow Chemical Company, founded in 1897, mainly manufactures specialty chemicals, plastics, and agricultural products. The company is headquartered in Midland, Michigan, United States. Key operating segments of the company include electronic & functional chemicals, agricultural sciences, coatings & infrastructure solutions, performance materials, performance plastics, and feedstock & energy. As of 2013, the company employed around 53,000 people across 201 manufacturing and R&D facilities. The company’s product portfolio caters to various end-use industries that include agro sciences, construction, healthcare & medicals, nutrition, personal care & apparel, and renewable energy.

  • Asahi Kasei Corp., founded in 1931, is the main holding company of the Asahi Kasei Group with nine core businesses working in numerous fields. Asahi Kasei produces PMMA and other petrochemicals via the Asahi Kasei Chemical Corporation based in Japan. The company is an innovative provider of plastics and advanced material solutions that produces high-performance plastic compounds and engineered polymers that are chemically coupled polypropylene resins that cater to various OEMs and industries across the globe including automotive, industrial, pool, and spa, heavy trucks, electrical and electronics, furniture, housing, and construction and furniture among others. The company specializes in various materials including thermylene, thermylon, xyron (modified PPE), leona, and tenac in production processes. Primary applications of the company’s products include Shop interiors, decoration signs, displays, paneling, home interiors, partitions, automotive parts, electronic and electrical components, optical devices, illumination boards, LED screens (television or cell phones), and others.

  • Daesan MMA, now known as Lotte MRC Corp., manufactures and sells methyl methacrylate (MMA) monomers and polymers. The company was founded in 2006 and is based in South Korea. The company operates as a JV between Mitsubishi Rayon Co., Ltd. and Honam Petrochemistry. The company produces synthetic fiber raw materials, basic petrochemical materials, synthetic resins, intermediates, and other products.

  • LG MMA Corporation, founded in 1991, is a global chemicals manufacturer and supplier based in South Korea. The company was formed as a JV between LG Chem Ltd. and Japanese Sumitomo Chemical Co. to localize MMA in various industrial material applications. The company produces PMMA for displays, LGP (light guide panels) for LCD monitors, and other MMA products. Key application areas of the company’s offerings include LED lighting screens, signs, injection and extrusion applications, Signboards and displays, vending machines, PVC Coating, printing, shrink-proofing agents, screen printing, spray coating, etc.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

U.S. Polymethyl Methacrylate Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

U.S. Polymethyl Methacrylate Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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