PMMA Microspheres Market: Current Analysis and Forecast (2021-2027)

The market for PMMA microspheres is growing on account of the increasing market for flat panel displays. In flat panel displays, PMMA-based microspheres are preferred over others due to its glass-like optical clarity. Further, due to its outstanding powder flow properties, high dispersibility in application media, good thermostability, and weatherability, PMMA microspheres are widely used in many different fields such as LED lighting fixtures, LCD light diffusion sheets, and film. Further, these spheres are mixed with thermoplastic polymers such as engineered compounds and masterbatches resulting in an effective scattering and diffusion of light without significantly reducing light transmission. Moreover, due to its excellent biocompatibility, they are used in cosmetics, dental, and medical applications. Therefore, owing to its vast application area, the market for PMMA microspheres is likely to showcase significant growth during the forecast period.
Based on the size, the market is categorized into 0-30 micron and above 30 micron. Of both, above 30 microns is expected to showcase substantial growth during the forecast period. This can be attributed to the fact that this type of microsphere is commonly used in medical applications. As the global investment in the medical industry is rapidly increasing in order to improve the global healthcare infrastructure, thus it is expected that it will increase the market for above 30 micron size PMMA microspheres.
Based on application, the market is categorized into signs & displays, cosmetics, paints & coatings and printing, polymers & films, medical, and others. Among these, sign & display held a considerable position in the market and is expected to maintain a strong position during the forecast period. In sign & display, PMMA microspheres are used due to their light diffusion and high optical clarity properties. The market for displays like flat panel displays is huge and continuously growing, thereby maintaining strong demand for PMMA microspheres.
For a better understanding of the market adoption of PMMA Microspheres, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific accounted for a significant share of the market and is expected to showcase substantial growth during the forecast period owing to the large and growing end-use industries of the region. The region is the global manufacturing hub with the largest paints & coatings, display, and polymer industries in the world. These industries consume a large amount of PMMA microspheres, thereby helping the region in maintaining a strong position in the market.
Some of the major players operating in the market include Sekisui Kasei Co. Ltd., Dynea AS, HEYO Enterprises Co. Ltd., Imperial Microspheres, Cospheric LLC, MicroCHEM, Lab261, Nippon Shokubai Co. Ltd., Kobo Products Inc., and Kuraray Co. Ltd. These companies are taking various strategic decisions to increase their market presence and share.