The mechanism of dispersion polymerization is described. The model is devel
oped to predict the number of particles, the critical smallest size of the
stable particles and the duration of the nucleation and particle formation
stage. The key components of this model are a multibin coagulative nucleati
on theory for unstable nuclei coalescence through homogeneous nucleation an
d the grafting mechanism of stabilization. A critical point is defined wher
e similar-sized particles stop coalescing with one another because the graf
t available equals the minimum graft required to stabilize the particles.