United States Methyl Methacrylate Market was valued at USD 1.2 Billion in 2022 and is projected to reach USD 1.9 Billion by 2030, growing at a CAGR of 5.7% from 2024 to 2030.
The U.S. Methyl Methacrylate (MMA) market has experienced notable fluctuations in recent years, influenced by various economic and industrial factors. In early November 2023, despite weak feedstock costs, major producers like Roehm and Mitsubishi Chemical Methacrylate (MCM) implemented price increases effective from November 1, 2023. This decision came amidst a slight uptick in demand from the construction sector, leading to MMA prices settling at USD 1,981 per metric ton FOB USGC, marking a week-on-week increment of USD 87 per metric ton during the week ending November 1. citeturn0search0 The construction industry's gradual recovery has played a pivotal role in this price movement. In October 2023, construction employment continued to trend upward, aligning with the average monthly gain of 18,000 over the prior 12 months. Specialty trade contractors and building construction sectors contributed significantly to this growth, bolstering the demand for MMA in related applications. citeturn0search0 However, the automotive sector presented a contrasting scenario. U.S. new vehicle sales in October 2023 decreased by 9.6% from September 2023, although there was a 2.0% increase compared to October 2022. This decline was attributed to production and logistics challenges, including plant closures due to the United Auto Workers (UAW) labor strike against major automakers like GM, Ford, and Stellantis. These disruptions had a limited impact on MMA price realizations in the domestic market. citeturn0search0 Supply chain disruptions have also influenced the U.S. MMA market. The convergence of geopolitical events, such as Russia's invasion of Ukraine, and China's COVID-19 lockdowns have posed significant challenges for the U.S. economy. In June 2022, MMA prices were assessed at USD 2,465 per metric ton, reflecting a marginal rise of 1% from the previous week. Supply constraints, low operating rates, and tight availability of raw materials like hydrogen cyanide (HCN) contributed to this price increase. citeturn0search1 Despite these challenges, the global MMA market is projected to witness substantial growth. Estimates suggest that the market will surpass USD 30.61 billion by 2031, driven by increasing demand from the construction industry and the exploration of new application areas. MMA is extensively used in producing polymethyl methacrylate (PMMA), which finds applications in facades, insulation, windows, and doors. The global construction industry's expected annual growth rate of 4% between 2020 and 2025 is anticipated to drive MMA demand. citeturn0search4 In the U.S., the PMMA market is consolidated among major companies, including Mitsubishi Rayon Co., Ltd., Altuglas International SAS, Sumitomo Chemical Co., Ltd., Trinseo, and Röhm GmbH. These key players are investing in new production facilities to meet the rising polymer demands of the construction industry. For instance, Röhm GmbH announced the construction of a new MMA production facility in Bay City, Texas, on June 30, 2021. citeturn0search3 Technological advancements in PMMA manufacturing are sustaining ethyl methacrylate demand. Companies like Mitsubishi Chemical Corporation are expanding PMMA plants using advanced dehydration polymerization to enhance utilization and reduce waste. Similarly, LG Chem's collaboration with Covestro aims to develop advanced MMA-based polymers with improved properties, with commercial production starting in 2024. citeturn0search2 However, the availability of alternative unsaturated monomers like vinyl acetate and butyl acrylate in adhesive and sealant formulations poses challenges to MMA's market growth. Additionally, stringent regulations regarding MMA emissions, due to its volatile nature and potential health effects, have led to increased operating costs for producers. citeturn0search2 In conclusion, the U.S. MMA market is navigating a complex landscape marked by supply chain disruptions, sector-specific demand fluctuations, and regulatory challenges. Nevertheless, ongoing investments in production capabilities and technological innovations indicate a resilient market poised for growth in the coming years.
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Mitsubishi Rayon
Evonik
Dow
Sumitomo Chemical
LG MMA
Asahi Kasei
Arkema
Kuraray
Mitsubishi Gas Chemical
BASF
Formosa Plastics
Jilin Petrochemical
Longxin Chemical
Shandong Hongxu
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Methyl Methacrylate Market
Automotive
Construction
Electronics
Healthcare
Adhesives and Sealants
Consumer Goods
Automotive Industry
Aerospace Industry
Medical Devices
Construction Industry
Electronics and Electricals
Liquid MMA
Solid MMA
Powdered MMA
Bulk Polymerization
Solution Polymerization
Suspension Polymerization
Direct Sales
Distributors
Online Retailers
Wholesale Suppliers
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Methyl Methacrylate Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Methyl Methacrylate Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Methyl Methacrylate Market, By Type
6. US Methyl Methacrylate Market, By Application
7. US Methyl Methacrylate Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Methyl Methacrylate Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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