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Bio-based PMMA Market Size

Report ID: GMI131
Published Date: Mar 2023
Report Format: PDF

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Bio-based PMMA Market Size

Bio-based PMMA Market size valued at USD 130 million in 2022 and is estimated to exhibit over 15% CAGR from 2023 to 2032. The attributes, such as being lightweight, flexibility, and the ability to refract light, are the major factors driving business expansion.

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Bio-based PMMA is a lightweight engineered plastic designed to reduce the carbon footprint of high-performance resins. It serves as a green alternative to non-renewable resins. It also provides excellent optics, improved melt processability, and increased toughness & impact resistance as compared to traditional standard acrylic grades. Bio-based PMMA is widely employed in end-use industries such as medical, automobile, electronics, and construction.

Bio-based PMMA Market Report Attributes
Report Attribute	Details
Base Year:	2022
Bio-based PMMA Market Size in 2022:	USD 130 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	15%
2032 Value Projection:	USD 560 Million
Historical Data for:	2018 to 2022
No. of Pages:	250
Tables, Charts & Figures:	465
Segments covered:	Product, Type, Application, and Region
Growth Drivers:	Increase penetration of biopolymers in various applications Robust product demand from automotive and electronics application Emergence of Bio PMMA as an alternative to conventional medical polymers
Pitfalls & Challenges:	Relatively high product cost

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The increased use of bio-based PMMA in the making of automotive components is accelerating bio-based PMMA market growth. Bio-based PMMA is a strong, lightweight, and clear plastic used as an alternative to glass due to its energy efficiency and weather resistance. It is mostly used in lenses of exterior lights for vehicles. It is extensively dominant in the automotive industry owing to its ease of processability and enhanced all-weather performance. As the manufacturers are focused on producing sustainable products, they are opting for bio-based PMMA for automotive components.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The bio-based polymethyl methacrylate market had crossed USD 130 million and is expected to grow at more than 15% CAGR from 2023 to 2032, driven by the surging demand for high-performance resins with low carbon footprint.

The general PMMA segment is likely to grow at approximately 15.5% growth rate up to 2032, fueled by growing demand from the global consumer electronics display sector.

Europe bio-based polymethyl methacrylate market is set to cross USD 275 million by 2032, primarily fueled by the ongoing expansion of the region’s electronics sector.

Arkema SA, Evonik Industries, Altuglas International Sas, Mitsubishi Chemical, Asahi Kasei Corp., Kuraray Group, Sabic, Sumitomo Chemical Co., Ltd, RTP Company, and Makevale Group are some leading industry participants.