A recent study by Hexa
Research reveals that the global polymethyl
methacrylate (PMMA) market will experience growth at a CAGR of more than 6% from 2013 to 2020. Emerging economies of China
and India are giving rise to industries like electronics, signs and displays
and automotive, all of which are consumers of polymethyl methacrylate.
Moreover, ongoing research in the area of bio-based PMMA and newer application
areas of optical grade PMMA such as coatings and emulsions, medical and
healthcare, solar power, etc. will propel market growth in future. Other
upcoming applications of PMMA are expected to be in industries like sanitary
ware, apparel, furniture, etc.
Browse Details of
Report @ http://www.hexaresearch.com/research-report/polymethyl-methacrylate-industry/
Based on product type,
Hexa Research divides the total PMMA industry into extruded sheets, pellets,
beads and cell cast sheet & blocks. Extruded sheets dominated the global
market with more than 54% volumes in 2012. The market for beads will grow
fastest with a CAGR of more than 6.9% from 2013 to 2020, mainly due to high
demand from coatings and emulsions industry. The largest application segment
for global PMMA market in 2012 was signs and display. It contributed to more
than 35% of the total market volumes. However, electronics industry will prove
to be the fastest growing application area in future with a CAGR of more than
7.6%. This will be mainly due to rising demand for LED flat panels and TV
screens.
Asia Pacific, with more
than 65% of the total demand, was the regional market leader in 2012. It is
also foreseen to be the fastest growing region with expected CAGR of 7.3% from
2013 to 2020. Strong electronic base in Taiwan, China, South Korea, etc.
coupled with relaxed regulations and low-cost resources like labor, technology,
etc. make Asia Pacific a lucrative market for PMMA. While Europe will
experience moderate growth, Middle East, Africa and Latin America will exhibit
above-average growth of PMMA.
Hexa Research identifies
Chi Mei Corporation, Mitsubishi Rayon, Evonik SA, and Altuglas International to
be the four leading manufacturers of PMMA. These players were responsible for
more than 70% of the total global PMMA production in 2012.
Browse
Related Category Market Reports @ https://www.hexaresearch.com/research-category/bulk-chemicals-industry
About
Us:
Hexa Research is a market
research and consulting organization, offering industry reports, custom
research and consulting services to a host of key industries across the globe.
We offer comprehensive business intelligence in the form of industry reports
which help our clients obtain clarity about their business environment and
enable them to undertake strategic growth initiatives.
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Us:
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Hexa Research
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