Europe Methyl Methacrylate Market To Reach $45.8 Billion By 2030

Europe Methyl Methacrylate Market Growth & Trends

The Europe methyl methacrylate market size is anticipated to reach USD 45.8 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 8.4% from 2024 to 2030. Methyl methacrylate is used as a precursor of polymethyl methacrylate (PMMA), which is used in the manufacturing of various automotive, industrial, and electronic components. Durability and resistance to UV and extreme weather conditions make MMA an ideal material for various applications in these industries.

MMA, the key raw material used for the production of PMMA, is an unsaturated ester widely utilized to produce polymers for a wide range of industrial and consumer applications, including surface coatings, injection molding and extrusion, and various transparent impact-resistant plastic sheets.

Growing importance of lightweight vehicles with reduced CO₂ emissions and improved fuel efficiency is expected to drive the consumption of PMMA in the automobile sector. Automotive and building and construction sectors have started using lightweight components made from PMMA as replacements for their metal counterparts.

MMA is also used as a modifier for polyvinyl chloride (PVC), which is also used in the manufacturing of automotive components such as armrests, door panels, and window sealing. Increasing use of PMMA and PVC, which uses MMA as a raw material, in various end-use industries is propelling market growth.

In Europe, recovery of end-use industries such as construction and automotive has resulted in demand for PMMA. However, the shutdown of production operations due to unforeseen circumstances has resulted in supply shortage, although its demand from PMMA producers continues to grow. This supply shortage has provided opportunities for Middle East and Asia Pacific producers to cater to demand for MMA in Europe.

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Europe Methyl Methacrylate Market Report Highlights

• The chemical intermediate application segment captured the largest market share of 51.3% in 2023.

• The surface coatings and adhesives segment is expected to grow at the fastest CAGR of 8.7% during 2024 to 2030. MMA monomers are used in the production of paints and coatings.

• The construction segment held the largest revenue share of 37.5% in 2023 in Europe. The Europe MMA market on the basis of end use is segmented into construction, automotive, electronics, and others.

• The automotive sector is anticipated to expand at the fastest CAGR at 8.7% during the forecast period, 2024 to 2030.

Europe Methyl Methacrylate Market Segmentation

Grand View Research has segmented the Europe methyl methacrylate market report based on application, end use and region.

Europe Methyl Methacrylate Application Outlook (Volume, Kilotons; Revenue, USD Million, 2020 - 2030)

• Chemical Intermediate

• Surface coating & adhesives

• Emulsion polymers

Europe Methyl Methacrylate End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2020 - 2030)

• Construction

• Automotive

• Electronics

• Others

Europe Methyl Methacrylate Country Outlook (Volume, Kilotons; Revenue, USD Million, 2020 - 2030)

• Europe

• Germany

• UK

• France

• Italy

• Spain

List Of Key Players in the Europe Methyl Methacrylate Market

• Röhm GmbH

• Trinseo

• Dow

• BASF SE

• Galata Chemicals

• KURARAY CO., LTD.

• Sumitomo Chemicals Co., Ltd.

• Mitsubishi Chemical Corporation

• Evonik Industries AG

• AdaKem Kimya Ltd.