Bio-based PMMA Market size to exceed $560 Mn by 2032

Bio-based PMMA Market size is projected to reach USD 560 million by 2032, according to a new research report by Global Market Insights Inc.
 

Investments in construction activities and increasing awareness about sustainable products are driving the demand for bio-based PMMA. The overall infrastructure development is projected to showcase an upsurge. Shifting consumer preferences toward nuclear families and increasing investments in commercial spaces will augment the business demand. The increasing number of nuclear families has resulted in higher housing requirements, followed by the increasing preference for sustainable buildings and government initiatives to enhance the housing & commercial building activities, boosting the bio-based PMMA market growth.
 

Bio-based PMMA is also used in window & door profiles, canopies, panels, and façade designs owing to its UV resistance and shatterproof properties. Increasing residential & commercial constructions in European and Latin American countries coupled with rising renovation activities will increase the product demand. The rising usage of energy-efficient bio-based PMMA will spur market growth.
 

Browse key industry insights spread across 250 pages with 443 market data tables & 22 figures & charts from the report, “Bio-based PMMA Market Size, By Type (General PMMA, Heat Resistant PMMA, Impact Resistant PMMA), By Product (Extruded Sheet, Pellets, Beads), By Application (Electronics, Automotives, Consumer Goods, Healthcare, Signs and Display, Construction) Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/synthetic-and-bio-based-pmma-polymethyl-methacrylate-market-size
 

The pellets segment offers enhanced properties to push product consumption

The pellets segment is poised to attain more than CAGR from 2023 to 2032. Bio-based PMMA pellets are designed for blow modling and injection extrusion. They are used to create three dimensional structures. The attributes such as rigidity, high dimensional stability, and enhanced optical properties fuel segment growth in the bio-based PMMA market. Once melted and cooled down, pellets tend to hold their original form quite well, providing freedom and leeway for the creation and building of 3D sculptures.
 

The beads segment to observe significant growth

The beads segment is anticipated to depict nearly 16% growth rate between 2023 and 2032. Bio-based PMMA beads are formed by polymerization which takes place between tiny droplets of MMA suspended solution of water and catalyst Beads offer exceptional optical quality, low residual odor, weather resistance, and large range of solubility. They are used as matting agents in coatings as they can be easily dispersed in coating system to obtain specific surface effects. PMMA beads also find application as binder in resins and paints. The beads also serve as LPA (low profile additives) in unsaturated polyesters.
 

Growing electronics industry to foster the demand for bio-based PMMA

Bio-based PMMA market form the electronics application segment is expected to register over 15.5% gains through 2032. Bio-based PMMA has gained a strong foothold in the electronics industry due to favorable attributes of durability, high strength, and complete light transmittance. Electronics displays are vulnerable to damage; hence, the durability of bio-based PMMA is a factor for its use in this application. Most of the leading electronics brands are shifting toward the use of screens made from PMMA. The rise in the demand for LED flat panels and LED television sets has given boost to bio-based PMMA demand.
 

The growing concept of smart cities, particularly in Asia Pacific countries including India, China, Malaysia, and Indonesia, is escalate the usage of bio-based PMMA in electronics business in the region.
 

Rising demand for products in the automotive industry to boost product growth in North America

North America held 32% of the bio-based PMMA market share in 2022 and is set grow significantly owing to the rise in the demand for products in the automotive industry. Automotive manufacturing is booming in Mexico due to low labor cost and rapidly growing workforce. Mexico is the primary exporter of automobiles to the U.S. The use of bio-based PMMA in the making of several automotive components is propelling the product demand in the region. Besides this, the aging population in the region along with extended life expectancy is creating a demand for medical devices across the world, thus increasing the demand for bio-based PMMA.
 

Some of the prominent manufacturers of bio-based PMMA market include Evonik Industries, Arkema SA, Mitsubishi Chemical, Altuglas International Sas, Kuraray Group, Asahi Kasei Corp., Sumitomo Chemical Co., Ltd, Sabic, Makevale Group, and RTP Company.