Styrene Methyl Methacrylate (SMMA) Market: Overview
Styrene methyl methacrylate (SMMA) is a transparent styrene acrylic copolymer, which is formed by blending styrene monomer (SM) and methyl methacrylate (MMA). It is a transparent compound with exceptional properties. The usage of MMA in the compound provides overall hardness, clarity, and resistance to extreme weather conditions, SM offers the compound scratch-resistance. Styrene Methyl Methacrylate is also known as MS resin and is employed as an affordable alternative to different resins, which are comparatively expensive.
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SMMA is utilized extensively in home ware such as water tanks and water filters. It is also used for various optical applications and displays due to its property of extreme clarity. Other applications of SMMA include medical devices, cosmetic packaging, toys, and stationary products.
Styrene Methyl Methacrylate (SMMA) Market: Trends
SMMA has superior properties such as excellent flow when used in the process of injection molding, low water absorption, crystal clarity, and high rigidity. These properties make SMMA a preferred polymer for thick-walled applications that need to adhere to the aesthetic standards of manufacturing.
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Styrene Methyl Methacrylate is used more as compared to other forms of copolymers, such as general purpose polystyrene, due to its better mechanical properties. It is used as an alternative for poly (methyl methacrylate), which is expensive as compared to SMMA. Better mechanical properties and availability at low cost are a few factors that are estimated to drive the Styrene Methyl Methacrylate (SMMA) market during the forecast period.
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Since SMMA is utilized in plastics for packaging purposes, it has to be regularized in order to keep a check on the safety of the products it is being used in. The regulations associated with the usage of plastic goods is likely to hamper the SMMA market.
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Styrene Methyl Methacrylate (SMMA) Market: Region-wise Outlook
North America led the market in 2016 in terms of demand. Asia Pacific followed North America in terms of demand. Countries such as China and Japan are employing SMMA in injection molding for manufacturing various plastic products.
The market in Europe is in the emerging phase and is anticipated to expand in the near future. Europe is a manufacturing hub for various products in industries such as automotive, medical, plastics, etc. Demand for SMMA in the region is anticipated to be primarily due to the presence of various manufacturing sites in countries such as Germany, Italy, and France. The market in Latin America is anticipated to expand in the near future due to the rise in demand for copolymers in various manufacturing processes. Demand for SMMA in Middle East & Africa is projected to be less, as compared to the other regions, since the region imports a large amount of products from other regions due to the presence of limited manufacturing units as well as less end-users in the region.
Overall, the Styrene Methyl Methacrylate SMMA market is anticipated to expand at a steady pace in the near future due to the superior mechanical properties and low cost of SMMA.
Styrene Methyl Methacrylate (SMMA) Market: Key Players
Key players operating in the Styrene Methyl Methacrylate SMMA market include Supreme Petrochem Ltd., INEOS Group AG, I. Stern & Co., Deltech Polymers Corporation, Calsak Corporation, and Chi Mei Corporation.