PUNE, India, August 1, 2016 /PRNewswire/ --
The report "Polymethyl Methacrylate (PMMA) Market by Grade (Optical and General Purpose), Form (Extruded, Cast Acrylic, Pellets, and Beads), and Application (Signs & Displays, Construction, Automotive, Lighting Fixtures and Electronics) - Global Trends & Forecasts to 2021", published by MarketsandMarkets, The market size is projected to reach USD 5.56 Billion by 2021, registering a CAGR of 4.7% during the forecast period.
Browse 84 market data Tables and 53 Figures spread through 149 Pages and in-depth TOC on "Polymethyl Methacrylate (PMMA) Market"
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The increased demand of plastics with high strength, durability, chemical and UV resistance, and high light transmission among others are some factors that are driving the PMMA market.
Signs & displays is the largest application
The signs & display segment accounts for the largest share of the PMMA market. This is due to the favorable properties such as high strength, durability, resistance to chemicals and weathering, and ease of processing, which makes them suitable for making instruction boards, advertising boards, display boards, and signage. Electronics is the fastest-growing segment of the PMMA market. Increasing growth in this sector has paved the demand of PMMA for various applications such as appliances parts, LED/LCD screens, laptop & mobile phone screen, touch screens, and cover panels.
PMMA beads are expected to witness the highest growth
PMMA in beads form is expected to witness the fastest growth in the PMMA market during the forecast period. Their demand is increasing due to the increasing demand for various high-performance plastics. PMMA beads are preferred in the industry, as they are used to enhance the various properties of thermoplastics such as UV resistance, toughness (impact modifiers), optical properties, and chemical resistance. Thermoplastics made from PMMA are suitable for automotive, construction, lighting, electronics, and other application.
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Asia-Pacific is the largest PMMA market
Asia-Pacific dominated the global PMMA Market in 2015. The demand of PMMA in the Asia-Pacific region is mainly driven by the rising demand for high quality plastics from end-use industries. Asia-Pacific is estimated to be the fastest-growing market for PMMA, in terms of value. This high growth is because of the increased demand from the automotive and electronics segments in the region. Moreover, the growing infrastructural development is increasing the demand of PMMA in the region.
Mitsubishi Rayon Co. Ltd (Japan), Sumitomo Chemical Co., Ltd (Japan), and Chi Mei Corporation (Taiwan) are some of the major players in the global PMMA market.
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