The global high impact resistant PMMA market is set to witness a higher CAGR during the forecast period. Polymethyl methacrylate (PMMA) is one of the widely used acrylics in the plastics industry. Acrylics are available in several forms such as casting syrups and molding powder are commonly known for remarkable clarity and features. Acrylics are widely used in the production of fixtures due to aesthetic properties.
High impact resistant PMMA market is driven rise in demand for high strength, chemical and UV resistance. Increase in applications such as plastic sheet glass in vehicles and commercial fittings propels the market growth. The market is stimulated due to rise in technological infrastructure and demand for innovative products. The PMMA is an alternative to glass that offers features such as transparency, high UV resistance and efficient light transmission. However, significant pricing and availability of cheaper substitutes hinders the market growth during the forecast period.
By Grade, the high impact resistant PMMA industry is segmented as general and optical purpose. Application category is segmented as construction, automotive, smartphones, televisions, virtual reality headsets, signs & displays and lighting fixtures & electronics. By type, the market segmentation includes 3D back cover glass and 3D display glass.
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Geographical segmentation for the market spans North America, South America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific accounts for a significant market share in the international market due to rise in demand for high quality plastics in end-use industries. Growth in infrastructural development enlarges the market scope.
North America regions register a higher market position due to adoption of innovative approach for producing LED lights. The demand for PMMA is rising due to technological advancements and innovation. The key players profiled in the high impact resistant PMMA market Chi Mei Corporation, Sumitomo Chemical Co and Mitsubishi Rayon Co Ltd.
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