North America & Europe PMMA Resin Market [NEWS TODAYS] Gaining Momentum 2031

May 17, 2023

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

PMMA, polymethyl methacrylate, is a transparent thermoplastic widely used in various industries. The market’s growth is expected to be driven by the increasing demand for pressure-sensitive adhesives (PSA) in electronic devices and the growing application of PMMA resins in the medical field. Moreover, the emergence of bio-based PMMA offers opportunities for market players to grow their presence in the market.

However, the market growth might face challenges due to the availability of low-cost substitutes and concerns about the negative environmental impact. During the COVID-19 pandemic, the demand for PMMA resin for medical applications experienced positive growth due to the high demand for medical and healthcare goods.

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PMMA resins possess biocompatibility and resistance to temperature stress, chemical reactions, human tissue, and bioprocesses. They are used as bone cement for filling gaps between bones and implants in medical procedures. PMMA’s biocompatibility makes it suitable for polymerization within a hospital environment, and it finds applications in diagnostics, incubators, dental prosthetics, and artificial teeth. The growing application of PMMA resins in the medical field is expected to boost the market growth.

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

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

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.

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