The United States Methyl Methacrylate (MMA) Market Is Primed For Growth With Advancements In Automotive And Construction Industries

The United States Methyl Methacrylate (MMA) market is a major supplier of MMA worldwide owing to the existence of advanced manufacturing infrastructure and proliferating demand from various end-use industries like automotive, construction, medical, and others. Methyl methacrylate is used to manufacture plastics such as acrylic sheets, cast or extruded rods, tubes as well as surface coatings and adhesives due to properties like transparency, durability, and resistance to chemicals.

The United States Methyl Methacrylate (MMA) Market is estimated to be valued at US$ 1.86 Bn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the United States Methyl Methacrylate (MMA) market are Mitsubishi Chemical Corporation, Röhm, The Dow Chemical Company, Huntsman Corporation, Evonik Industries AG, BASF SE, Lucite International, and Plaskolite. These players are focusing on expanding their production capacities and global footprint to leverage the growth opportunities in the market.

The growing demand from the automotive and construction industries is driving the growth of MMA market in the country. Rising vehicle production and adoption of lightweight materials is fueling the demand for MMA from the automotive sector. In the construction industry, MMA finds application in manufacturing materials used for infrastructure projects, residential and commercial buildings.

The United States MMA market is also witnessing significant growth owing to increasing exports to other global regions like Europe and Asia Pacific. Key players are actively working to establish supply chain networks and distribution channels in different geographic locations to expand globally.

Market Key Trends

One of the key trends gaining traction in the United States MMA market is the rising usage of methyl methacrylate in 3D printing applications. MMA exhibits properties like high transparency and durability that make it suitable for use in stereolithography and material extrusion 3D printing techniques. Its ability to prototype complex and detailed objects is augmenting demand from industries like consumer goods, healthcare and aerospace. Additionally, advancements in 3D printing technology are further supporting the adoption of MMA in the manufacturing sector.

Porter’s Analysis

Threat of new entrants: MMA is manufactured using upstream chemicals like acetone and methanol which requires large capital investment for setting up production facility.

Bargaining power of buyers: MMA has wide applications like automotive, construction and electronics industries. Presence of several buyers in different end use industries diminishes their bargaining power.

Bargaining power of suppliers: Key raw materials for MMA like acetone and methanol have many substitutes available which reduces suppliers bargaining power.

Threat of new substitutes: MMA faces competition from new substitutes like polycarbonate (PC) and polymethyl methacrylate (PMMA) but demand for MMA’s properties keep this threat at low.

Competitive rivalry: United States MMA market has presence of major global players like Mitsubishi Chemical Corporation, Röhm, The Dow Chemical Company, Huntsman Corporation, Evonik Industries which leads to high competition.

The geographical region where the MMA market in United States is concentrated in terms of value is Midwest region. States like Missouri, Illinois and Indiana have presence of major MMA production facilities of companies like Mitsubishi Chemical Corporation, Lucite International which contributes to around 45% of the total market value.

The fastest growing region for United States MMA market is South region. States like Texas, Florida and North Carolina are witnessing higher growth in end use industries like construction, automotive and electronics. Various infrastructure development projects and investments in manufacturing sectors in these states will driving the demand for MMA at over 6% annually during the forecast period.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

What Are The Key Data Covered In This United States Methyl Methacrylate (MMA) Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the United States Methyl Methacrylate (MMA)’s growth between 2024 and 2031.

:- Accurate calculation of the size of the United States Methyl Methacrylate (MMA) and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- United States Methyl Methacrylate (MMA) Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of United States Methyl Methacrylate (MMA) vendors

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