May 25, 2024
South Korea Methyl Methacrylate (MMA) Market

The South Korea Methyl Methacrylate (MMA) Market Is Poised To Expand At A CAGR Of 5.1% By Bolstered Trends In Extruded Plastics

The South Korea Methyl Methacrylate (MMA) Market comprises products like polymethyl methacrylate, acrylic sheets, and MMA copolymers that find extensive applications in automotive parts, construction materials, signage boards and various commercial applications due to properties like durability, transparency and weather resistance.

South Korea Methyl Methacrylate (MMA) Market Size Is Estimated To Be Valued At US$ 337.2 Mn In 2024 And Is Expected To Exhibit A CAGR Of 5.1% Over The Forecast Period 2024-2031.

Key Takeaways

Key players operating in the South Korea Methyl Methacrylate (MMA) are BASF SE, Evonik Industries AG, Arkema Group, The Dow Chemical Company, Sumitomo Chemical Company Limited and Among Others. Second paragraph is talking about the growing demand in market and third paragraph is talking about global expansion of market. Market key trends: One of the major trends being witnessed in the South Korea Methyl Methacrylate (MMA) market is the increasing demand for extruded plastics. South Korea has seen rapid growth in infrastructure and automotive industry in past decade which has bolstered the demand for extruded PMMA sheets and MMA copolymers that are used as lightweight substitutes to traditional materials. The properties like ease of fabrication, durability and transparency has made MMA polymers the material of choice for signage’s, glazing and automotive application.

Porter’s Analysis

Threat Of New Entrants: New companies face high market entry barriers in terms of technology, production capacities and capital requirements.
Bargaining Power Of Buyers: MMA has few application areas, giving buyers fewer options but major companies have strong bargaining power.
Bargaining Power Of Suppliers: Acrylic acid and methanol are key raw materials and suppliers have moderate bargaining power due to availability of substitutes.
Threat Of New Substitutes: Limited substitutes exist like polycarbonate and polystyrene but MMA has better property profile making threat moderate.
Competitive Rivalry: Market is consolidated with global leaders having significant production capacities and customer bases resulting in high competition.

Geographical Regions

South Korea is the largest MMA market in Asia Pacific region accounting for over 30% of regional consumption in terms of volume. Abundant production of automobiles and construction activities support strong demand for MMA and its copolymers in the country.

The fastest growing geographical region for MMA is Southeast Asia led by Vietnam, Thailand, Indonesia and Malaysia. Increasing manufacturing and infrastructure growth plans in these countries are driving polymer demand. Countries are also strategically important manufacturing hubs for global brands resulting in polymer consumption outpacing regional GDP rates.

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

:- Market CAGR throughout the predicted period

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

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

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

:- South Korea Methyl Methacrylate (MMA) Market 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 South Korea Methyl Methacrylate (MMA) Market vendors

FAQ’S

Q.1 What are the main factors influencing the South Korea Methyl Methacrylate (MMA) market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top South Korea Methyl Methacrylate (MMA) Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the South Korea Methyl Methacrylate (MMA) market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:                

  1. Source: CoherentMI, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it