The U.S. Polymethyl Methacrylate (PMMA) Film & Sheet Market is expected to reach USD 1.11 Billion by 2025. The proliferation of high-speed internet has driven online retail and shopping trends, positively impacting the demand for LED displays and communication signage in physical retail stores, to compete with these virtual outlets.
PMMA film & sheet are increasingly being utilized to design unique, innovative and aesthetically appealing advertising displays. Increasing consumer consciousness regarding sustainability has driven the demand for communication media materials with high biodegradability, lower toxicity, and emissions.
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The automotive sector has also been utilizing increasing amounts of the material for lightweight component manufacturing, LED illumination applications and other molding compound or fabrication in interiors & exteriors. Stringent federal regulations implemented by the Environmental Protection Agency (EPA) and California Air Resources Board (CARB) are also driving the demand for lightweight automotive components & materials.
Signage & displays occupied the highest volume share of around 33% in 2015 in the films segment. Growing demand for optoelectronics and specialized media & communication displays is a major driving factor in the U.S. Furthermore, a shift in trend towards digital marketing and growing awareness regarding paper wastage has contributed to segment growth.
Further key findings from the report suggest:
- PMMA film & sheet demand in the U.S. was estimated at over 178 kilo tons in 2015 and is expected to grow at a CAGR of 3% over the forecast period
- Signage & displays emerged as the largest application segment for films in 2015 and is estimated to occupy over 32% volume share by 2025
- Construction applications are also expected to remain a significant application, owing to increasing demand for glass substitutes that do not shatter under impact and offer protection & safety for building residents
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- Automotive parts are expected to be the fastest growing segment with a CAGR of 4.5 % from 2016 to 2025 owing to increasing demand for lightweight and durable structural components
- Top players Evonik Industries, Arkema Group and Lucite International accounted for about 70% of the market share in 2015
- Prime companies such as Arkema Inc. and Lucite International have made large investments in R&D towards improving production processes by reducing costs & improving efficiency
- New projects have also been undertaken for producing bio-PMMA from plant sugars to meet sustainability criterion
- Other significant participants include Unigel Group, Plazit-Polygal group, Polyone Corporation and Plaskolite
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