Global PMMA Microspheres Market - Forecast(2023 - 2028)

Report Code: CMR 81418 Report Format: PDF + Excel

Global PMMA Microspheres Market Overview

Global PMMA (Polymethyl Methacrylate) microspheres market size is expected to reach a value of US$305.8 million by the end of the year 2026 after growing at a CAGR of 8.1% during the forecast period from 2021-2026. The increase in demand for PMMA microspheres in the cosmetic industry is one of the major factors driving the global PMMA microspheres market growth. Furthermore, the increasing applications of PMMA microspheres in paint & coatings, 3D printing inks, electronics, and others are also contributing to the growth of the global PMMA microspheres industry. PMMA microsphere, also called acrylic glass, is a transparent thermoplastic glass that is widely used as a cosmetic additive, light diffusion agent, anti-blocking agent, matting agent, ink & rubber additive, and others. PMMA microspheres are synthesized from methyl methacrylate polymer and offer high impact resistance, heat resistance, tensile strength, and flexural strength, due to which it is widely used in various industries such as life science & biomedical, and personal care & cosmetics.

COVID-19 impact

Amid the Covid-19 pandemic, the noticeable impact on the global PMMA microspheres market was experienced. The various regulations on trading activities restricted the market growth of the PMMA microspheres. In the tragedy of COVID-19, most of the countries have gone under lockdown, due to which the projects and operations of various industries such as plastic& rubber are disruptively stopped, which is hampering the global PMMA microspheres industry growth. According to the Malaysian Rubber Council (MRC), the rubber production in Malaysia declined by 8.6% to 185.2 thousand tonnes in Q1 of 2021 from 202.6 thousand tonnes Q1 of 2020. However, the global PMMA microspheres was hugely affected in terms of consumption from the rubber sector which is limiting the market growth.

Report Coverage

The report: “Global PMMA Microspheres Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the global PMMA microspheres industry.

By Technology: Solvent Borne, Water-Borne, and UV Curable
By Coating: Silver-Coated and Uncoated
By End-Use Industry: Paint & Coatings, Inks, Personal Care & Cosmetics, Electronics, Life science & Biomedical, Plastic & Rubber, and Others 

Key Takeaways

  • Asia Pacific held the largest share in the global PMMA microspheres market owing to the growing economy and various end-use industries such as personal care & cosmetics, electronics, paint & coatings, and plastic & rubber.
  • The increase in the demand for PMMA acrylic glass from various electronic components such as LED, LCD, and others is driving the global PMMA microspheres market.
  • Additionally, PMMA microspheres transparent thermoplastic is widely used in improving the skin's contour and reducing dullness in the cosmetic industry. This is driving the demand for PMMA microspheres during the forecast period.

Figure: APAC Global PMMA Microspheres Market, 2021-2026 (US$ Million)

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Global PMMA Microspheres Market Analysis – By Technology

Solvent-based segment held the largest share of the global PMMA microspheres market in 2020. Solvent-based technology acts as a matting agent and anti-blocking agent, thus; it is used in home appliances, wood coating, and leather finishing. Solvent-based transparent thermoplastic microsphere has poor resistance; so, it can be easily hydrolyzed ester groups. Additionally, polymethyl methacrylate offers excellent transmission and high resistance to UV lights; therefore, it is widely used as a shatterproof replacement for glass. This is estimated to grow the demand for solvent-based PMMA microspheres.

Global PMMA Microspheres Market Analysis – By Coating

Silver-coated segment held the largest share in the global PMMA microspheres market in 2020 and is expected to grow at a CAGR of 7.1% during the forecast period. Silver coating is available in sizes between 5um and 750um. This acrylic glass silver coating is available in dry powder form which is ideal for some deflection during maintaining conductivity and compliance. This transparent thermoplastic polymethyl methacrylate microspheres silver coating can be used as conductive spacers in bond line applications and anisotropic conductive film (ACF) applications. This is majorly driving the demand for the silver coating segment in the global PMMA microspheres market size.

Global PMMA Microspheres Market Analysis – By Application

The dermal fillers segment held the largest share in the global PMMA microspheres market in the year 2020 and is growing at a CAGR of 8.9% during 2020-2026. The increase in the use in the treatment of aging is one of the main factors driving the PMMA microspheres demand in dermal filler application. The dermal filler has low viscosity so it is easy for the clinician to push through the needle and therefore the increase in demand for these fillers in the medical industry is driving the global PMMA microspheres market. For instance, according to the India Brand Equity Foundation (IBEF), the hospital industry in India is expected to reach Rs 8.6 trillion (US$ 132.84 billion) by FY22 from Rs 4 trillion (US$ 61.79 billion) in FY17. Furthermore, dermal filler is used in treatment to fill out pitted scars and to augment thin lips. This is one of the major factors driving the growth of dermal filler in the medical industry which is expected to drive the global PMMA microspheres industry.

Global PMMA Microspheres Market Analysis – By End-Use Industry

Life science & biomedical held the largest share of more than 20% in the global PMMA microspheres market in the year 2020. PMMA is also known as acrylic glass which is transparent thermoplastic microspheres that are used as a dermal filler in bone cement which is creating an opportunity for the PMMA microsphere market. Thus, the growing medical sector is estimated to fuel the demand for dermal filler which is driving the global PMMA microspheres market. According to India Brand Equity Foundation (IBEF), India’s domestic pharmaceutical market is estimated at US$41 billion in 2021. The sector is further expected to reach US$65 billion by 2024 and ~US$ 120-130 billion by 2030. Additionally, according to the National Healthcare of United States, healthcare spending increased 4.6 % to reach $3.8 trillion in 2019. Hence, the growing pharmaceutical sector is expected to propel the global PMMA microspheres market growth.

Global PMMA Microspheres Market Analysis – By Geography

Asia Pacific held the largest share of more than 35% in the global PMMA microspheres market size in the year 2020, due to the increasing demand from various end-use industries such as electrical & electronics, personal care & cosmetics, medical and paints & coatings in Asian countries such as India, China, Japan, and Malaysia which are estimated to grow the demand for PMMA microspheres. According to the India Brand Equity Foundation (IBEF), the healthcare market is expected to increase from US$ 110 billion in 2016 to US$ 372 billion in 2022, which is one of the major driving factors for the global PMMA market. Furthermore, the increasing cosmetics market in Asian countries is also boosting the consumption of transparent thermoplastic films. According to Cosmetic Europe, a personal care association, in Japan, the cosmetic industry increased by euro 32.6 billion (US$ 36.49 billion) in 2019 as compared to euro 29.4 billion (US$ 34.7 billion) in 2018. Hence, these are hugely creating an opportunity for market growth in the region.

Global PMMA Microspheres Market Drivers          

Increasing R&D activities in Pharmaceutical Industry

PMMA microsphere is an acrylic glass which is a transparent thermoplastic sheet. The increase in the demand for this transparent thermoplastic sheet in the medical industry is driving market growth. Thus, the increasing demand for a medical device in various tests such as clinical and diagnostic analysis equipment, diagnostic reagents and point of care testing is accelerating R&D activities at the global level. According to the European Federation of Pharmaceutical Industries and Association, the R&D expenditure in the pharmaceutical sector in the United States increased by US$ 64.3 billion in 2019 compared to US$ 62.2 billion in 2018 and US$ 57.7 billion in 2017. Therefore, the annual growth rate in pharmaceutical R&D expenditure increased by 7.6% during 2016-2020 in the United States. In Europe, this expenditure increased by euro 37.7 billion (US$ 42.20 billion) in 2019 as compared to euro 36.3 billion (US$ 42.86 billion) in 2018 and euro 35.4 billion (US$ 39.10 billion) in 2017. This will further drive the global PMMA microspheres market. 

Increasing Adoption from the Cosmetic Industry

PMMA microspheres are used as cosmetics additives in cosmetics and toiletries. Additionally, PMMA microspheres are injected under the skin to reduce wrinkles or scars permanently and improve light-scattering properties. Thus, growth in the cosmetics industry is expected to augment the demand for the PMMA microspheres market soon. According to Cosmetic Europe, a personal care association, China’s cosmetics market increased by 15.33 % to euro 54.9 billion (US$ 61.45 billion) in 2019 compared to euro 47.6 billion (US$ 56.21) in 2018. Additionally, the cosmetic industry also increased in other Asian countries such as Indian and Japan. According to Cosmetic Europe, a personal care association, the Cosmetic industry in India increased by euro 12 billion (US$ 13.43 billion) in 2019 as compared to euro 10.7 billion (US$ 12.63 billion) in 2018. Furthermore, the US cosmetics industry grew by 3.95% to euro 73.7 billion (US$ 82.50 billion) in 2019 compared to euro 67.2 billion (US$ 79.36 billion) in 2018. Hence, the globally increased cosmetics market is estimated to boost the consumption of PMMA microspheres. 

Global PMMA Microspheres Market Challenges

Polymethyl Methacrylate Poses a Health Risk

PMMA acrylic glass is not degradable due to its high curing temperatures. It is a toxic monomer that can be considered to be an irritant and a possible carcinogen. Additionally, its hazardous decomposition during burning causes mild skin and eye irritation. The rinse-off cosmetic product contains PMMA microplastic ingredient which is used in cosmetic products. ECHA’s (European Chemical Agency) Committees laid down a restriction which came into effect from 31 January 2020. D4 (octamethylcyclotetrasiloxane) and D5 (dodecamethylcyclohexasiloxane) chemical compounds were restricted on use in rinse off cosmetics product, that has a concentration of 0.1% or more by it’s weight. This will further restrict the use of such compounds in cosmetic products. However, the restriction on rinse-off cosmetic production decreases the consumption of PMMA microspheres. This is one of the major challenges faced by the global PMMA microspheres market. 

Global PMMA Microspheres Market Industry Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the global PMMA microspheres market. Major players in the Global PMMA microspheres market include:

  1. Cospheric LLC
  2. Goodfellow USA
  3. Heyo Enterprise Co, Ltd
  4. J Color Chemical Corp.Ltd
  5. Matsumoto Yushi Seiyaku Co., Ltd
  6. Microbeads A
  7. Microchem
  8. Microspheres-Nanospheres
  9. Phosphorex, Inc
  10. Polysciences, Inc, Sekisui Plastic, and more. 

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1. Global PMMA Microspheres Market- Market Overview
    1.1 Definitions and Scope 
2. Global PMMA Microspheres Market - Executive Summary
    2.1 Key Trends by Technology
    2.2 Key Trends by Coating
    2.3 Key Trends by Application
    2.4 Key Trends by End-Use Industry
    2.5 Key Trends by Geography
3. Global PMMA Microspheres Market – Comparative analysis 
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis - Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Global PMMA Microspheres Market - Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Global PMMA Microspheres Market – Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Global PMMA Microspheres Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes 
7. Global PMMA Microspheres Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies 
8. Global PMMA Microspheres Market- By Technology (Market Size -$Million/Billion)
    8.1 Solvent Borne
    8.2 Water Borne
    8.3 UV Curable
9. Global PMMA Microspheres Market- By Coating (Market Size -$Million/Billion)
    9.1 Silver Coated
    9.2 Uncoated
10. Global PMMA Microspheres Market – By Application (Market Size -$Million/Billion)
    10.1 Light Diffusion Agent
    10.2 Ceramic Pore Forming Agent
    10.3 Dermal Fillers
    10.4 Cosmetic Additives
    10.5 Rubber Additives
    10.6 Matting Agent
    10.7 Anti-inhibitors Agent
    10.8 Plastic & Ink Additives
    10.9 Anti-Blocking Agents
    10.10 Others
11. Global PMMA Microspheres Market – By End-Use Industry (Market Size -$Million/Billion)
    11.1 Paint & Coatings
    11.2 Inks
    11.3 Personal Care & Cosmetics
    11.4 Electronics
    11.5 Life science & Biomedical
    11.6 Plastic & Rubber
    11.7 Others
12. Global PMMA Microspheres Market - By Geography (Market Size -$Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zeeland
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Global PMMA Microspheres Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Global PMMA Microspheres Market – Industry/Segment Competition Landscape Premium
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Global PMMA Microspheres Market – Key Company List by Country Premium Premium
16. Global PMMA Microspheres Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more

"*Financials would be provided on a best efforts basis for private companies"