According to the latest industry data, the PMMA market in China presents characteristics of highly concentrated production capacity, uneven regional distribution, and accelerated localization. The specific pattern is as follows:

Capacity distribution: East China is absolutely dominant

Total production capacity scale

As of the end of 2024, the total production capacity of PMMA in China reached 735350 tons per year, an increase of 18.5% compared to 2023.

The planned construction capacity exceeds 1.5 million tons, and it is expected that the total production capacity will exceed 2.5 million tons in the future.

Regional concentration

East China region (87.7%): Jiangsu, Zhejiang, and Shanghai are the core regions with a production capacity of 645000 tons per year, and leading companies such as Zhenjiang Qimei, Mitsubishi Liyang (Nantong), and Wanhua Chemical (Ningbo) gather.

Southwest region (10.2%): Chongqing Shuangxiang Phase I 75000 ton/year plant will be put into operation in 2024, making it an emerging production capacity area ^ 4.

Northeast region (2.1%): Heilongjiang Zhongmeng Longxin and other enterprises contributed 15350 tons/year of production capacity.

Capacity imbalance issue

The total production capacity of Northeast and Central Western regions is less than 13%, and there is a significant difference in regional supply capacity.

Competitive Landscape: Foreign Domination and Local Rise

Monopoly of top enterprises

The top four companies account for 70% of the market share: Zhenjiang Qimei, Mitsubishi Liyang, Suzhou Shuangxiang, and Wanhua Chemical form the first tier.

Foreign investment dominates the high-end market: Optical grade PMMA is controlled by Japanese companies such as Sumitomo and Mitsubishi Chemical, and the self-sufficiency rate of domestic high-end products is less than 30%.

Breakthrough of local enterprises

Wanhua Chemical and Suzhou Shuangxiang: Mastering ontology polymerization technology, breaking through high-end fields such as automotive lampshades and light guide plates.

Accelerated capacity expansion: The 180000 ton optical grade PMMA project of Zhejiang Petrochemical (to be put into operation in 2025) and the 160000 ton project of Shandong Zhejiang United States are being promoted.

Challenges of Industry Diversification

Small businesses account for over 90% of the market share, while the top 5 companies have a market share of only 2.7% (Double Star New Materials accounts for 1.4%).

Import and export and demand structure

Deepening import substitution

In 2024, the import volume decreased by 10.7% year-on-year, and the self-sufficiency rate increased to 76.9%; The main sources of imports are South Korea (28.8%), Saudi Arabia (16.4%), and Japan (14.7%).