Methyl Methacrylate Market Growth Accelerated by Expanding Applications in Automobiles
Methyl methacrylate (MMA) is an organic compound that possesses thermoplastic and thermosetting properties. It is used as a raw material in the manufacture of acrylic glass. MMA is also used as an additive in lacquers, synthetic detergents and pharmaceuticals. As an additive, it improves material strength, surface hardness, transparency and durability. It is primarily used in the production of plastics and resins used in automobiles, construction, electronics and advertising boards. The global methyl methacrylate market is estimated to be valued at US$ 7,510.7 Mn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The expanding applications of MMA in the automotive industry is one of the key trends driving market growth. The compound is primarily used in the production of polymethyl methacrylate (PMMA), which is extensively employed in automotive exteriors an...