Polymethyl Methacrylate (PMMA) Microspheres Market by Application (Displays, Coatings, Cosmetics, Medical, 3D Printing Inks, and Films), & Size (0 To 30 Microns, Above 30 Microns) - Global Forecast to 2020
Seattle, WA -- (SBWIRE) -- 07/18/2017 -- The report "Polymethyl Methacrylate (PMMA) Microspheres Market by Application (Displays, Coatings, Cosmetics, Medical, 3D Printing Inks, and Films), & Size (0 To 30 Microns, Above 30 Microns) - Global Forecast to 2020", The global PMMA microsphere market is projected to reach USD 191.7 Million by 2020 from USD 118.1 Million in 2014, at a CAGR of 8.5% during the period 2015 to 2020. The growth of the market is largely attributed toward the increasing demand for flat panel display, architectural coatings, and medical applications in which PMMA microspheres are majorly used.
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Display application to dominate the global PMMA microsphere market
In terms of application, display panels dominated the PMMA microsphere consumption and accounted for a maximum share of the PMMA market in terms of value in 2014. The demand of PMMA microspheres from growing consumer electronics products such as smart phones, LCD screens & monitors, TV & video equipment, applicance control panels, and solar panels drives the overall market.
PMMA with size greater than 30 microns to grow at the highest CAGR
In terms of size when segmented, the smaller size segment containing "0 to 30 microns" accounted for a major share in terms of value in 2014. However, the "above 30 microns" segment is estimated to grow at the fastest CAGR during the forecast period between 2015 and 2020, because of the increase in demand from medical application. The size of above 30 microns facilitates medical procedures such as cell sorting and immunoprecipitation, thus making these microspheres suitable for medical research and biological laboratory experiments.
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Asia Pacific, the most dominant region in the global PMMA microsphere market
The Asia-Pacific region accounted for the largest contribution toward the PMMA microsphere market in 2014 owing to large manufacturing capacities. The growth of electronics industry, mainly in Taiwan, South Korea, and China, is expected to boost the demand for PMMA over the years. Asia-Pacific is considered to be the most attractive market, with relaxed regulations and availability of economical labor and technology. On other hand, new technologies and increasing demand of premium products such as cosmetics and architectural coatings from European countries are expected to ensure highest growth rate for the European region during the forecast period.
Some of the key players operating in the global PMMA microsphere market include Cospheric LLC (U.S.), Sunjin Chemical Co., Ltd. (South Korea), Microbeads (Norway), and Imperial Microspheres (U.S.), among others. These companies, along with other regional companies, cater to the global demand for PMMA microspheres.
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The global PMMA microsphere market is segmented on the basis of application, size, and region. The scope of the report covers detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the PMMA microsphere market.
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