New York, US, May 30, 2022 (GLOBE NEWSWIRE) -- PMMA Microspheres Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “PMMA Microspheres Market Information by Application, End-Use Industry, and Region - Forecast till 2030”, the market is estimated to grow at a 6.54% CAGR to reach USD 586.23 Million by 2030.
Market Synopsis
PMMA microspheres, also called poly or acrylic microspheres, are the esters of methacrylic acid, which is a synthetic resin produced from methyl methacrylate’s dispersion polymerization. The majority of the PMMA microspheres are used for modifying the mechanical and chemical characteristics of polymers, ceramic materials, fly ash, metallic materials, and various other materials.
Given its similar durability to that of glass and numerous characteristics, PMMA polymer has emerged as the top substitute for glass to make shatter-proof windows, skylights, radiated signs and aircraft canopies. PMMA microspheres have commercial uses in numerous end-user sectors including cosmetics, chemicals, plastics and life sciences & medical.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD: 586.23 Million |
| CAGR | 6.54% (2021–2030) |
| Base Year | 2020 |
| Forecast Period | 2021-2030 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application and End-use |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing Demand in the Life sciences & Medical Industry |
| Heavy Investments Being Done in Several Industries |
Market Competitive Landscape:
The important vendors in the PMMA microspheres industry are:
- Nippon Shokubai Co. Ltd
- Dynea AS
- Sekisui Kasei Co. Ltd.
- Kuraray Co. Ltd.
- HEYO
- Kobo Products Inc.
- Cospheric LLC
- Imperial Microspheres
- Lab261
- Trinseo
- Microchem
- Microbeads AS
Market USP Covered:
Market Drivers:
The PMMA microspheres market has been expanding at a healthy pace, thanks to the heightened worldwide demand for flat panel displays. The surge in cosmetics and decorative paints & coatings further contributes to the PMMA microsphere demand worldwide. Escalating demand for premium architectural coatings and plastic underbody coatings benefits the market as well.
The PMMA polymers market is ruled by Asia Pacific, given the huge display manufacturing hubs in South Korea, China, Taiwan and Japan, accounting for over 90% of the world display production capacity. PMMA microspheres have extensive applications in medical, cosmetics, signs & displays, paints & coatings and printing inks, polymers & films, and more.
One of the leading reasons for the rapid expansion of the PMMA microspheres market can be the fast growth of the major end-use industries. PMMA microspheres have widespread use in numerous end-use sectors including medical, cosmetics, paints & coatings, and displays. However, one of the top applications of PMMA microspheres is in the medical industry. PMMA microspheres are enjoying significant demand in medical applications owing to the surging expenditure in the healthcare industry worldwide.
Market Restraints:
PMMA microspheres offer a unique blend of high visual clarity and transparency coupled with significant mechanical strength. Other materials like glass, ceramic, silica, and polyolefins provide either transparency or mechanical strength to the product. Regardless, most of these materials are cost-effective and help modify the cost dynamics. As a result, multiple end-users are replacing PMMA with other materials.
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COVID 19 Analysis
The PMMA microspheres market has been significantly affected by the COVID-19 outbreak. Given the pandemic scenario, numerous countries had to go under a lockdown, to control the rising cases. Owing to this, the demand and supply chain has been disrupted, which has affected the worldwide market. The infrastructural projects, manufacturing units, industries, and various operations had to be put on hold owing to the pandemic situation.
The volatile costs of raw materials that are used for developing PMMA microspheres along with the COVID-19 pandemic have restricted the growth rate of the PMMA microspheres market. On the bright side, the situation is getting back to normal, which means that the market in the future will see better growth.
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Market Segmentation
By Application
Signs & displays, paints & ink additives, cosmetics additives, and polymers & films are the key application-based segments.
By End-Use Industry
The major end-use industries covered in the MRFR report include personal care & cosmetics, Lifesciences & medical, plastics, paints & coatings, and more. Life science & medical accounts for the highest share in the worldwide market and has emerged as the top segment.
Regional Insights
Asia Pacific is the biggest market for PMMA microspheres in the world, and the strong growth in the region can be accredited to the rapidly surging economic growth rate, along with the heavy spending on medical, construction, automotive, and electronics industries. With economic restrictions as well as saturation in North America and Europe, the demand has shifted to Asia Pacific. Asia Pacific houses a number of developing countries, such as Japan, China and India. Therefore, the scope of growth for the majority of the industries is significant. The PMMA microspheres industry in the region has been growing at a significant pace, giving rise to plenty of opportunities for the manufacturers. The expanding population in addition to the emergence of new and advanced technologies as well as products make the region the prime destination for the PMMA microspheres market. Likewise, improving lifestyle, rising income, and the booming population allows the PMMA microspheres market to thrive in the region. The Chinese government is implementing policies that encourage and support domestic medical device advancements, offering lucrative opportunities to the PMMA microsphere market. “Made in China 2025” project helps enhance product quality, brand reputation, and industry efficiency, which should spur the growth of domestic medical device manufacturers and also elevate competitiveness. On top of this, the huge demand for PMMA microspheres in the medical device sector including vitro equipment like diagnostic and clinical analysis equipment, medical test and basic equipment instruments, point of care testing (POCT) and diagnostic reagents, will further enhance the market size.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
