PMMA Microspheres Market worth $410 million by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, March 21, 2022 /PRNewswire/ -- According to the new market research report "PMMA Microspheres Market by Application (Signs & Displays, Paints & Coatings and Printing Inks, Cosmetics, Polymers & Films, Medical) and Region (North America, Europe, Asia Pacific and Rest of the World) - Global Forecasts to 2026" published by MarketsandMarkets™, is projected to reach USD 410 million by 2026, at a CAGR of 6.7% from USD 296 million in 2021.
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This growth is primarily triggered by the increasing demand for flat panel displays. The extensive use of LEDs for interior lighting for vehicles pushes the demand for PMMA microspheres. Changing lifestyles, increased disposable income, and higher standard of living have created high demand for such flat displays. PMMA microspheres provide a brighter display and diffuse light evenly. They also reduce lamp images and hot spots, effective for direct light sources such as LED. This consistently growing demand for displays is expected to drive the demand for PMMA microspheres during the forecast period.
Signs & Displays is estimated to be the largest application of the PMMA Microspheres Market during the forecast period.
Signs & Displays is the largest application of PMMA microspheres; in terms of value, in the global market in 2020. PMMA microspheres is used mainly to manufacture flat screens for TVs, computers, and displays in automotive. It aids in diffusing the light evenly, making the display brighter and easier to view. It reduces lamp images and hot spots, effective for direct light sources such as LED. Asia Pacific led the PMMA Microspheres Market in signs & displays application. The soaring demand for high-definition quality pictures, growing digital marketing and advertisement, demand for smart homes and offices and the need for displays in automotive drives the demand for electronic appliances, which leads to a higher demand for PMMA microspheres in this application.
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Asia Pacific is estimated to be the largest market for PMMA microspheres during the forecast period.
Asia Pacific is the largest market for PMMA microspheres, followed by North America and Europe. Asia Pacific consists of major developing nations, such as China and India. Hence, the scope of development for most industries is wide. The PMMA microspheres industry is significantly growing, which offers ample opportunities for manufacturers. The increasing population in Asia Pacific and the development of new technologies and products are projected to make this region an ideal destination for the PMMA microspheres industry. Similarly, improved lifestyle, increasing income, and growing population help the PMMA Microspheres Market flourish in developing regions.
The key market players profiled in the PMMA Microspheres Market report include Sekisui Kasei Co. Ltd (Japan), Dynea AS (Norway), HEYO (Taiwan), Imperial Microspheres (US), Cospheric LLC (US), Microchem (Switzerland), Lab261 (US), Nippon Shokubai Co. Ltd (Japan), Kobo Products Inc. (US), and Kuraray Co. Ltd (Japan), Microbeads AS (Norway), Trinseo (US), among others.
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