The global PMMA market to grow at a CAGR of 4.94% during the period 2017-2021.
The report, Global PMMA Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
The rising demand for renewable and sustainable polymers is a key trend in the global PMMA market. Environmental regulation clearance from REACH and EPA is expected to augment the growth of the market, coupled with the growing importance of reducing carbon footprint. The exhaustion of fossil fuel reserves and the volatile petrochemical prices are expected to increase the demand for bio-based PMMA. The development of bio-based PMMA is expected to increase the profitability. Bio-based PMMA is expected to be extensively used in manufacturing medical components owing to its bio-compatibility in comparison with polycarbonate (PC) and Polyvinyl chloride (PVC). The demand for bio-adhesive PMMA in devices-drug delivery systems in human is likely to augment the demand for bio-based PMMA in medical applications. Bio-based PMMA is replacing glass in lightweight engineering plastics owing to its resistance and shatter proof properties. Vendors, therefore, are now shifting focus toward the production of bio-based PMMA, which will drive the global PMMA market.
According to the report, PMMA covers can be installed for LEDs in TVs instead of fluorescent tubes, as the diodes emit less heat. PMMA molding compounds stay stable, irrespective of the vicinity of the light source, thus enabling LEDs to manage heat more easily. Furthermore, the durability and light transmittance capability of PMMA makes it suitable for use in small to large LED flat screens. The use of PMMA reduces the thickness of the TV and makes it look more attractive. The key benefit of PMMA in LED screens is that the consumption of power can be reduced significantly per TV.
These LED TVs are among the top selling products in the visual entertainment segment owing to the advanced technology that makes them lighter and slimmer in comparison with conventional TV models. The increasing awareness about green construction, the growing large screen and display back-lighting markets, and the decreasing cost of LEDs will augment the LED market during the forecast period.