LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global polymethyl methacrylate (PMMA) market report. This research report also lists three other prominent vendors that are expected to impact the market during the forecast period.
The global PMMA market is expected to register moderate growth during the forecast period. Owing to its physical characteristics such as strength, clarity and light weight, PMMA is successfully replacing glass in many applications. It also offers high energy efficiency and is resistant to harsh weather conditions.
Competitive vendor landscape
The intense competition and the declining profit margins constitute significant risk factors in vendors' operations. With the increase in competition, the market has been seeing consolidation, where the smaller entities are being acquired by or merged with major players. In addition, the influx of private labels in the market is also on the rise.
“Some important factors that play a major role in defining the competitive structure of the PMMA market are proprietorship over technology, economies of scale, and R&D capabilities. R&D plays an important role as it enables vendors to identify new applications for the product and gain a first-mover advantage,” says Ajay Adhikari, a lead plastics, polymers, and elastomers research analyst from Technavio.
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Top five PMMA market vendors
Arkema
Arkema is one of the prominent and leading vendors in the global PMMA market. The company offers PMMA through its subsidiary, Altuglas International. It offers PMMA for various applications such as construction, automobile, advertising boards, decoration, sanitary ware, and LED TVs.
Chi Mei Corporation (CMC)
Chi Mei Corporation is one of the prominent vendors offering high-quality plastics, polymers, and elastomers. The company offers PMMA, ABS resins, and light guide plates. ACRYREX PMMA granulates and ACRYPOLY-BX PMMA extrusion sheet are offered by the company.
Evonik Industries
Evonik Industries offers several products such as PLEXIGLAS 7N, PLEXIGLAS 8N, PLEXIGLAS Heatresist FT15, PLEXIGLAS Heatresist hw55, and PLEXIGLAS Heatstop for various applications such as automotive, construction, and healthcare. In order to maintain its leadership position in the global PMMA market, the company has undertaken various strategies.
KURARAY
KURARAY is a pioneer in the synthetic fiber industry in Japan. Its products such as PVA resins, optical PVA, films (for LCDs), EVAL resins, dental materials, and CLARINO hold prominent shares in the market. It also offers GENESTAR, a heat-resistant polyamide resin, for most of its end-use industries.
Sumitomo Chemical
Sumitomo Chemical is engaged in the development, manufacture, and sales of polyethylene, polypropylene, and propylene oxide. It offers PMMA through its petrochemicals and plastics business segment.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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