Published on : Apr 24, 2017
Albany, New York, April 24, 2017: In recent years, the global market of PMMA has gained huge momentum and also it is expected to witness robust growth in the coming years as well. According to a latest study, titled “Global PMMA Market 2017-2021”, increased demand for plastics with high strength, durability, chemical and UV resistance, and high light transmission among others are some factors that are driving the PMMA market. Geographically, the report analyzes the market by highlighting some of the major regions which include the current and forecast demand for PMMA in Europe, North America, APAC and ROW.
The objective of this study is to provide major information on the present scenario and the growth prospects until the end of 2021. As per the key findings of the report, the global PMMA market will grow at a CAGR of 4.94% during the period 2017-2021. Moreover, the report analyzes the present and estimated trends of the global specialty chemical market, as the demand for the product is expected to rise. Additionally, it also provides comprehensive analysis of the market potential in various industry applications. The research also finds that APAC accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years.
In the initial section, the research highlights the market overview of PMMA along with its market segmentation. Polymethyl Methacrylate (PMMA) is a thermoplastic polymer of Methyl Methacrylate (MMA). It is a clear, strong and lightweight plastic generally used as a substitute for glass due to its energy efficiency and weather resistance.
On the basis of application, the market covers:
- Signs and display
- Medical and Healthcare
The growth of major end-use industries including electronics, automotive and signs & displays, mainly in emerging economies of China and India, are expected to boost the demand for PMMA over the forecast period. Moreover, the market has been segmented on the basis of form, which includes; Extruded sheets, Cell cast sheets and blocks, Pellets and Beads.
Moreover, the research highlights the market dynamics which includes market trends, drivers and challenges. One of the primary drivers for the market observed by the study is the exponentially growing demand for LEDs. The key benefit of PMMA in LED screens is that the consumption of power can be reduced significantly per TV. The above-mentioned reasons have played a crucial role in the rise in popularity of LED TVs across the globe, which in turn, is expected to propel the growth of the global PMMA market during the forecast period. Also, some of the key trends observed in the study include:
- Shift in manufacturing facilities from west to east
- Growing importance of bio-based PMMA
- Increasing demand for PMMA dermal fillers
In the later part, the report also includes a discussion of the key vendors operating in this market:
- Evonik Industries
- Sumitomo Chemical
- Chi Mei Corporation
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