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North America and Europe PMMA Resin Market Anticipating Significant Expansion in the Coming Years

North America and Europe PMMA Resin Market Anticipating Significant Expansion in the Coming Years

The recent “North America and Europe PMMA Resin Market” report by Report Ocean gathers insights and assessments through genuine consultations with key stakeholders, including CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This comprehensive study aims to thoroughly examine the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report

The report on the “North America and Europe PMMA Resin Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.

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Global North America and Europe PMMA Resin Market Analysis and Growth Forecast:

The North America & Europe PMMA Resin market held a market value of USD 1,796.74 Million in 2021 and is projected to reach USD 2,877.01 Million by the year 2030. The market is anticipated to grow at a CAGR of 5.55% from 2022 to 2030. Approximately, 479.33 million units of PMMA Resin were sold in 2021.

PMMA stands for polymethyl methacrylate and it is a transparent thermoplastic. The market is expected to be driven by the increasing demand of pressure sensitive adhesives (PSA) in electronic devices. Furthermore, increasing application of PMMA resins in medical field is also estimated to fuel the market growth. Also, emergence of bio-based PMMA are providing opportunities to market players for growth in the market.

Despite the driving factors, availability of low cost substitutes and negative impact on the environment are anticipated to hinder the market growth. During the COVID-19 pandemic, the demand for PMMA resin for medical applications experienced a positive growth due to high demand for medical and healthcare goods during the pandemic.

Growth Influencers:

Increasing application of PMMA resins in medical field

PMMA resins are biocompatible and they are resistant to temperature stress, chemical reactions, human tissue, and bioprocesses. It is used as a bone cement for filling the gaps between bones and implants. This material is apt for the procedure due to its simple and biocompatible to polymerize within a hospital environment. It is also used in applications such as diagnostics, incubator, and dental, among others. Hence, increasing application of PMMA resins in medical field is also expected to boost the market growth.

Competitive Landscape

Major players in the North America & Europe PMMA Resin market include RTP Company, The Ensinger Group, Accella Polyurethane Systems LLC, Clax Italia, Dow Chemicals, BASF SE, Arkema S.A., Mitsubishi Chemical Corporation, Asia Form Pioneers, Evonik Industries AG, Ineos Nova, and Other Prominent Players. The cumulative market share of the five major players is more than 37%.

These market players are engaged in mergers & acquisitions, collaborations, and new product launches, among other initiatives, to strengthen their market presence. For instance, in December 2021, BASF launched Elastollan, a sustainable and high-performance drop-in solution for premium synthetic leather applications. These applications included automotive, furniture, and fashion consumables, among others.

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Segments Overview:

The North America & Europe PMMA Resin market is segmented into form, grade, and application.

By Form,
Extruded Sheet
Cast Acrylic Sheet
Pellets
Beads
Others

The extruded sheet segment is anticipated to hold the largest market share of over 45% owing to its various advantages, such as good surface quality, clarity, easy maintenance, colour range, easy fabrication, and easy maintenance, among others. The cast acrylic sheet segments market size is approximately 18% of the extruded sheets market size in 2021 and this share is estimated to reach 22% by 2030.

By Grade,
General Purpose Grade
Optical Grade
High Impact Grade
Heat Resistance Grade

The general purpose grade segments volume is anticipated to witness the growth rate of 6.9% over the forecast period owing to its various application areas. The high impact grades volume is estimated to surpass 200 million tonnes by 2029

By Application,
Signs & Displays
Signage
Display boards
Point of sale boards
Construction
Barriers
Shatterproof Glass
Noise Barriers
Flooring
PMMA resin flooring
High-end decorative flooring
Paints & Coatings
Automotive
Body Parts
Lamp Covers
Interior and Exterior Trim
Accessories
Windshields
Sun Visor
Electronics
Touch screen (Mobile Phones, Tablets)
Mobile Phone Lenses
Cover panels
LCD screens
Lighting fixtures
Light guide panels
Solar equipment
Medical
Bone Cement
Dental Prosthetics and Artificial Teeth
Others

The signs and displays segment is expected to account for a market share of more than 25% owing to the growing demand for use in marketing communications. Within this segment, the signage segments market volume is anticipated to surpass a volume of 119.6 million tonnes by 2030 with a growth rate of 4.94%. Automotive segment is estimated to witness the fastest growth rate of 6.32% owing to increasing usage of PMMA in vehicles.

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Regional Overview

By region, the market is divided into Europe and North America. North America is anticipated to account for the largest market share of more than 52% owing to the growing investment and development in the region for manufacturing vehicles and other products with eco-friendly as well as efficient materials. The Europe region is expected to grow owing to the presence of a variety of manufacturers in the region.

The North America & Europe PMMA Resin market report provides insights on the below pointers:

Market Penetration: Provides comprehensive information on the market offered by the prominent players

Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets

Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments

Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the North America & Europe PMMA Resin market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.

Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The North America & Europe PMMA Resin market report answers questions such as:

  • What is the market size and forecast of the North America & Europe PMMA Resin Market?
  • What are the inhibiting factors and impact of COVID-19 on the North America & Europe PMMA Resin Market during the assessment period
  • Which are the products/segments/applications/areas to invest in over the assessment period in the North America & Europe PMMA Resin Market?
  • What is the competitive strategic window for opportunities in the North America & Europe PMMA Resin Market?
  • What are the technology trends and regulatory frameworks in the North America & Europe PMMA Resin Market?
  • What is the market share of the leading players in the North America & Europe PMMA Resin Market?
  • What modes and strategic moves are considered favorable for entering the North America & Europe PMMA Resin Market?
  • What is the cost of PMMA Resin?
  • Who are the top producers of PMMA Resin?
  • Which are the top importing and exporting countries in North America and Europe in 2019?
  • What is the PMMA Resin capacity, by region?

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Report Components

Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.

Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.

Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.

Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.

The Analysis Objectives of the Report are:

To determine the size of the Market by identifying its sub-segments.

To research the key players and analyze their growth strategies.

To assess the size and value of the Market based on key regions.

To analyze the Market in terms of growth trends, potential, and participation in the overall sector.

To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.

Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.

To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.

What is new in 2024?

– Major developments that can change the business landscape as well as market forecasts.

– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.

– Coverage of new market players and change in the market share of existing players of the market.

– Updated financial information and product portfolios of players operating in the market.

– Updated market developments of the profiled players.

– Any new data points/analysis (frameworks) which was not present in the previous version of the report

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