Newark, June 27, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global PMMA microspheres market is expected to grow from USD 176 million in 2021 to USD 346 million by 2030, at a CAGR of 7.8% during the forecast period 2022-2030.
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The smooth, round & microscopic structure of PMMA microspheres combined with biocompatible, stiff & rigid nature makes it ideal for applications in various industries like healthcare, electronics & automotive. Increasing awareness about the benefits of PMMA microspheres, namely their UV resistance, excellent optical clarity, thermal conductivity & anti-adhesive properties, have witnessed rising research and developments of its potential uses. Innovations combined with broad applications of PMMA microspheres in various industries will drive the market's growth globally. The prices of raw materials used to synthesize PMMA microspheres are volatile, leading to demand and supply chain disruptions hampering the market's growth. PMMA microspheres have limited heat resistance, meaning it changes with temperature restricting the application of PMMA in various potential industries. Limited heat resistance combined with poor impact resistance, which makes it vulnerable under pressure and can lead to breakage, are a few factors that can challenge the growth of the global PMMA microspheres market.
Competitive Strategy
To enhance their market position in the global PMMA microspheres market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• Greiner Bio-One announced a collaborative partnership with another significant player in the PMMA microspheres market, Haematologic Technologies. The collaboration will facilitate the end-to-end development of PMMA microspheres tubes. They are also planning to provide custom manufacturing for clinical diagnostic device developers.
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Market Growth & Trends
With the rise in disposable income of the population, consumers are looking toward improving their living standards & quality of life. An increase in demand for smart homes & office spaces to enable comfort and provide luxury has facilitated a similar rise in demand for PMMA microspheres as light-diffusing agents. PMMA microspheres present excellent optical clarity and are ideal for use in flatscreens for TV, computers, smartphones & other electronics. It is also used in automotive to provide HD quality imagery on screens inside the vehicles & window panes. Combined, the extensive use of the PMMA microspheres market in home furnishing, electronics, and automotive will contribute significantly to the global PMMA microspheres market.
Key Findings
• In 2021, the greater than 30 microns segment dominated the market with the largest market share of 61% and market revenue of 103.70 million.
The size segment is divided into 0-30 microns & greater than 30 microns. In 2021, the greater than 30 microns segment dominated the market with the largest market share of 61% and market revenue of 103.70 million.
• The light-diffusing agent segment is expected to grow at the fastest CAGR of 8.3% over the forecast period.
The application segment is divided into a light diffusing agent, matting agent, ceramic porogen, cosmetic additive, modified plastic additive, ink additive, & others. Over the forecast period, the light-diffusing agent segment is expected to grow at the fastest CAGR of 8.3%.
• In 2021, life sciences & medical accounted for the largest share of the market, with 33% and a market revenue of 56.10 million.
The end-user segment is divided into life sciences & medical, electronics, paints & coatings, personal care & cosmetics, plastics, ceramics & composites, & others. In 2021, the life sciences & medical segment accounted for the largest share of the market, with 33% and a market revenue of 56.10 million. The lifestyle changes have created a new demand for cosmetic surgeries to improve aesthetic appearance rather than clinical reasons. The biocompatible property of PMMA microspheres helps remove scars and wrinkles, which will contribute significantly to the growing demand for PMMA microspheres in the life sciences & medical segment.
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Regional Segment Analysis of the PMMA Microspheres Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the Asia Pacific region emerged as the largest market for the global PMMA microspheres market, with a market share of around 31.4% and 55.26 million of the market revenue in 2021. The PMMA microspheres market in the Asia Pacific has been expanding rapidly. China dominates the PMMA microspheres market in the Asia Pacific. More than 18 million cosmetic surgeries were performed in the United States in 2018. The American Society of Plastic Surgeons reported this figure. A similar trend of cosmetic surgeries is witnessed in the Asian market on the lines of western cultural influence. The rise in demand for cosmetic surgeries is attributed to the increasing presence of social media and an increase in the personal disposable income of the population. PMMA promotes the repair and restoration of human collagen for long-lasting cell & tissue integrity. The demand for cosmetic surgeries will rise in the future, making it a positive development for the global PMMA microspheres market.
Key players operating in the global PMMA microspheres market are:
• Cospheric LLC
• Polysciences Inc.
• Microbeads AS
• Phosphorex Inc.
• Matsumoto Yushi-Seiyaku Co. Ltd.
• Goodfellow USA
• Heyo Enterprises Co. Ltd.
• Microchem
• Microspheres-Nanospheres
• J Color Chemicals
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global PMMA microspheres market based on the below-mentioned segments:
Global PMMA Microspheres Market by Size:
• 0-30 Microns
• Greater Than 30 Microns
Global PMMA Microspheres Market by Application:
• Light Diffusing Agent
• Matting Agent
• Ceramic Porogen
• Cosmetic Additive
• Modified Plastic Additive
• Ink Additive
• Others
Global PMMA Microspheres Market by End User:
• Ceramics & Composites
• Electronics
• Life Sciences & Medical
• Paints & Coatings
• Personal Care & Cosmetics
• Plastics
• Others
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About the report:
The global PMMA microspheres market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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