Polymethyl Methacrylate Market
Germany PMMA market for construction application to gain remarkable momentum over 2018-2024, escalating demand for weather-resistant material to propel the industry landscape
The global PMMA market for construction application has been experiencing significant growth lately, due to the increasing demand for shatterproof & weathering resistant materials as a viable replacement to glass. Numerous construction enterprises are continually looking for a suitable glass alternative to be utilized across a number of different applications that range from greenhouses, aquariums, worktops to facades and car ports, which would help augment PMMA market for construction application in the years ahead.
U.S. PMMA Market for Construction application, By Application, 2017 & 2024, (Kilo Tons)
Apart from being shatterproof & weather resistant, PMMA also boasts of another considerable advantage over glass, which is the material’s transparency; PMMA is significantly more transparent than glass, and as opposed to it, maintains this transparency even when the panels are made too thick. Moreover, the trend of increasingly promoting natural lighting in architectural designs – to the point that enterprises across the world when posting job perks also list out ‘access to natural light’ as an added advantage, would be ensuring sustained product demand. This is because the more a building design ensures natural light access, the more area there is for the installation of windows. Quite overtly, the global PMMA market for construction application would be significantly benefiting from this trend. A further elaboration of the same has been enlisted below:
PMMA market for construction application | Impact of the natural light trend that is gripping enterprises
According to the Harvard Business Review, a new survey conducted by Future Workplace revealed that even though enterprises boast of a number of employee perks, which include nap pods, treadmill desks, bring your own device, fitness centers and onsite cafeterias, a majority of employees crave something that is significantly more fundamental & essential to basic human needs as access to natural light. More than 1,614 employees who were surveyed claimed that access to natural light & an open view of the outdoors triumphs almost all of the employee perks the company gives them.
The survey also discovered that the lack of natural light & an open view of the outdoors has a sizable detrimental effect on employee experience. Over a third of the surveyed employees feel that they don’t get enough exposure to natural light inside their workplace with 47% of the employees admitting to feeling moderately to acutely fatigued due to the lack of natural light in their respective offices. More than 43% claimed that they felt gloomy due to the absence of natural lighting.
With a growing importance being given to employee comfort and wellbeing in recent years, the global PMMA market for construction applications would be witnessing a surge in business demands on account of a number of enterprises attempting to improve the company’s employee experience by constructing, renting or modifying existing work premises to incorporate more natural light into the building. The fact that this trend also helps enterprises save significant amounts on their electricity bills will further help propel the growth prospects of the PMMA market for construction application in the forthcoming years.
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PMMA market for construction applications | Impact of the increasing plastic usage in Europe’s real estate industry
The modern European construction industry is increasingly adopting plastics in their practices to make construction activities and the building structures more affordable & energy efficient. The accelerated adoption of plastics and the incorporation of new plastic technologies are expected to majorly upscale the demand for PMMA in the continent’s construction segment, which incidentally is one of the largest employers in the European Union.
According to PlasticsEurope, Europe’s construction & building sector accounts for more than 19.7% of the approximately 49 million tons of plastics annually consumed across Europe, which is one in every five tons. With the demand for plastics on a continually escalating graph, Europe PMMA market for construction application is anticipated to record immeasurable growth in the ensuing years.
Among the regional grounds, Germany, especially, is slated to establish itself as a prominent marketplace for Europe owing to the extensive utilization of PMMA in the construction of carports. The material’s shatterproof & durability properties make it an ideal raw material in the construction of the said carports, which are witnessing increasing demands owing to the growing vehicle sales across the country. This would consequently help augment the commercialization portfolio of the Germany PMMA industry for construction application, that is slated to cross $125 million by 2024.
It is rather vivid that owing to the emerging trends in the construction industry, the global PMMA market for construction application would be experiencing sizable growth over the forthcoming time period. In fact, a Global Market Insights, Inc., report projects that the overall PMMA market size for construction application is expected to surpass the $3 billion renumeration mark by 2024.
Author Name : Akshay Kedari
Increasing marketing budget by companies to spend on advertising campaigns in order to create brand equity is expected to drive PMMA market growth
Global market Insights has announced release of new study based report on PMMA (Polymethyl Methacrylate). According to the report projected for period of 2015-2022, PMMA market size is forecast to surpass 3.1 million tons, at a growing CAGR of more than 6.3% by 2022. Growing expenditures in marketing and advertising campaigns is projected to fuel market growth during the expected time frame.
View a summary of the “Synthetic and Bio-based Polymethyl Methacrylate (PMMA) Market Size, Industry Analysis Report” @ https://www.gminsights.com/industry-analysis/synthetic-and-bio-based-pmma-polymethyl-methacrylate-market-size
The latest industry research report scrutinizes the PMMA market by different segments including regions, applications, companies, etc. over the projected time frame of seven years. This report provides a comprehensive overview of the PMMA industry comprising definitions, classifications, and market players in the industry chain structure. The qualitative and quantitative is offered for the market considering key development trends, competitive landscape, and crucial factors prevailing in the synthetic &Bio PMMA market.
The research report scrutinizes the global synthetic &Bio PMMA industry from 360 degree perception, taking manifold facets into consideration including segmentation, key developments, market overview, market growth and dynamics, market trends and future outlook, market opportunities, potential investment segment, competitive landscape etc.
Global bio PMMA market will witness higher growth rates and exceed 530 kilo tons by 2022 during the estimated time frame. PMMA market price trend is likely to prove a vital factor in market penetration for bio-based alternatives. Global advertising expenditure is anticipated to surpass USD 670 billion by 2022. Increasing demand for low emission, light-weight and fuel efficient vehicles is projected to boost growth.
Rising demand for LED flat panel display TVs, growth in sign and display segment, growing application scope in healthcare sectors are expected to impact the market growth positively. Fluctuating prices of raw materials are forecast to hamper PMMA market growth.
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Strict government rules and regulations to limit GNG emissions and control dependence upon reducing fossil fuels are anticipated to support bio based PMMA market growth. Rising investments in order to develop this technology is poised to open new growth avenues. Construction was accounted as the major application segment is anticipated to experience moderate growth at over 6.2% in the near future.
Asia Pacific dominated the revenue generation segment and is expected to witness substantial growth and hit USD 1.35 billion, owing to low production cost, cheap labor wages and large consumer base in China and India. Europe market is projected to experience below average growth rates up to 2022 owing to recent Euro crisis.
Key market players in the industry include Arkema (Atluglas International), Mitsubishi Rayon, Chi Mei Corp and Sumitomo Chemicals, LG MMA, Dow Chemical, Asahi Kasei, Kuraray and Polycasa.
Author Name : Dhananjay Punekar