Home
Reports
IHS CEH Report : Polymethyl Methacrylate (PMMA) (Chemical Economics Handbook 2019)

Download Report IHS CEH Report : Polymethyl Methacrylate (PMMA) (Chemical Economics Handbook 2019)

PDF by S&P Global Commodity Insights; IHS Markit

Information

Format: PDF Language: English Pages: 140 Publisher: S&P Global Commodity Insights; IHS Markit Publitshion date: 2019 ISBN: 90810

Description

Polymethyl methacrylate (PMMA) is a thermoplastic polymer material produced by the polymerization of methyl methacrylate (MMA). This report discusses the resins and plastics that are composed of over 50% polymethyl methacrylate. These polymers are available in the form of sheets, molding and extrusion products (pellets, beads, or powders), rods, tubes, and film. PMMA supplies end-use markets that take advantage of its distinct properties, especially high optical clarity, light weight, UV stability, and impact resistance. The major end-use markets for PMMA are construction/remodeling and automotive/transportation; as a result, consumption of PMMA is largely influenced by general macroeconomic conditions and will continue to follow the patterns of the leading world economies. China remains as the world's largest consumer of PMMA, but consumption growth has slowed in recent years and the supply has been significantly affected by the ban of plastic scrap imports.This IHS Markit report is centered on the global supply and demand and dynamics of polymethyl methacrylate (PMMA). PMMA is a thermoplastic polymer material produced by the polymerization of methyl methacrylate (MMA). This report discusses the resins and plastics that are composed of over 50% polymethyl methacrylate. These polymers are available in the form of sheets, molding and extrusion products (pellets, beads or powders), rods, tubes, and film. Not included are the solution and emulsion polymers that are derived from acrylates and methacrylates, as well as the copolymers and multipolymers that are less than 50% acrylic, and mineral-filled continuous-cast sheets. The major end-use industries for PMMA are construction/remodeling and automotive/transportation. Demand in most downstream markets of PMMA is largely influenced by general macroeconomic conditions, and PMMA consumption will continue to follow the patterns of the leading world economies. Consumption is also strongly influenced by PMMA prices, which increased significantly in 2017–18, impacted by the price increases for MMA because of its short supply on a global basis. With the new MMA capacity currently entering the market, PMMA prices have begun to decline, following the decreasing trend of MMA prices. The global PMMA market was approximately 2.1 million metric tons in 2018, up from 1.9 million metric tons in 2015. Global capacity utilization for PMMA was about 73% in 2018. In 2015–18, world consumption for PMMA grew at an average annual rate of 3.6%. World consumption for PMMA is expected to slow to about 2.7% per year in 2018–23, owing to the general slowdown in China. As the leading consumer of PMMA (34% of global consumption in 2018), China has a major impact on the global PMMA market. China remains as the world's largest consumer of PMMA. However, consumption growth has slowed in recent years as the country's downstream industry continues to mature. The supply has also been significantly affected by the ban of plastic scrap imports, which resulted in a sharp decrease in production via recycled PMMA scrap. PMMA production will gradually recover with the new capacity coming onstream; overall growth for PMMA consumption in China is expected to average 3–4% per year through the forecast period. The North American market for PMMA was about half of that of the Chinese market in 2018. In 2017 and 2018, the PMMA market in the United States was affected by the supply shortage of MMA monomer, which pushed MMA and PMMA prices to historical highs. Demand was also impacted by the continuous maturation of its downstream industry. IHS Markit holds a conservative view of PMMA demand growth for North America, which is expected to average 1–2% per year in 2018–23. The Central and South American PMMA market has been scarred by economic recession, especially in Brazil. It is believed that Brazil is the major PMMA producer in the region, but the country has been plagued by low PMMA production in the last three years. Brazil has accounted for nearly 60% of PMMA demand in the region over the last five years. In late 2018 and early 2019, a rebound of both supply and consumption of PMMA in Brazil has been seen. After two recessions in Europe during 2008–09 and 2012–13, PMMA demand grew well during 2015–18, but the market continued to be influenced by mergers and acquisitions. The Swiss Group 3A Composites, Horgen, Switzerland (owned by Schweiter Technologies, also Switzerland) acquired Polycasa in 2015, a European PMMA sheet and resin producer, as well as the cast sheet business of Lucite (Mitsubishi Chemical) in Darwen, United Kingdom in 2018. Also, in early 2019, Evonik in Germany has agreed to sell its methacrylates business to Advent International. In the Middle East, production capacities were expanded significantly during 2015–18. A joint venture of Plaskolite, United States and Işik Plastik, Turkey started a cast sheet plant in Malatya, Turkey in 2016. Petro-Rabigh, a joint venture of Saudi Aramco and Sumitomo, Japan, began production of MMA and PMMA at Rabigh, Saudi Arabia in late 2017. In addition, the joint venture of Mitsubishi Chemical (Lucite) and SABIC, named The Saudi Methacrylates Company, started commercial production at a new PMMA plant at Al Jubail, Saudi Arabia in early 2018. Most of the output from this new capacity in the Middle East is destined for exports. In Africa, Evonik took over full ownership of Evonik Acrylics Africa in 2018, acquiring the 49% share formerly held by Ampaglas Plastics Group, South Africa. Japanese consumption of PMMA has decreased significantly in the last 15 years because PMMA use for flat-panel displays declined with the shift of manufacturing facilities to other countries in Asia. In 2018, PMMA production and consumption were about two-thirds of their peak level in 2004. As a result, PMMA capacity has also declined. On the other hand, Japanese exports remained fairly steady relative to production and consumption. In 2018–23, Japanese consumption of PMMA is expected to increase at around 1% per year, which is in line with domestic GDP growth. In Asia, other than Japan and China, PMMA consumption and production has grown steadily in the last five years, increasing at around 6% per year for consumption and at around 3% per year for production. In this region, some countries export PMMA while others import; South Korea, Singapore, and Taiwan are large exporters of PMMA, while India is a large importer. The other countries have small volumes of PMMA exports and imports. In this region, PMMA consumption is expected to increase at 3–4% per year for 2018–23.

$49 Delivery time: Maximum 24 hours