BEIJING, Nov. 06, 2022 (GLOBE NEWSWIRE) — The Global polycarbonate sheet market The size accounted for USD 1.8 billion in 2021 and is expected to reach a market size of USD 2.8 billion by 2030, growing at a CAGR of 5.1% from 2022 to 2030.
Polycarbonate Sheets Market Statistics
- The global polycarbonate sheet market revenue was USD 1.8 billion in 2021, growing at a CAGR of 5.1% from 2022 to 2030
- Asia-Pacific accounted for 30.9% of polycarbonate sheet market share in 2021
- The European market is expected to grow at a CAGR of 6% from 2022 to 2030
- Among the applications, the electrical and electronics sector captures more than 28% of the overall market share in 2021
- Growing demand from end-use industries is driving the market value of Polycarbonate Sheet
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Polycarbonate Sheets Market Report Coverage:
|Market||polycarbonate sheet market|
|polycarbonate sheet market Size 2021||$1.8 billion|
|polycarbonate sheet market Forecast 2030||$2.8 billion|
|polycarbonate sheet market CAGR from 2022 to 2030||5.1%|
|polycarbonate sheet market Analysis period||2018 – 2030|
|polycarbonate sheet market base year||2021|
|polycarbonate sheet market Forecast data||2022 – 2030|
|Segments Covered||By type, by application and by geography|
|polycarbonate sheet market Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Profiled Key Companies||Lotte Chemicals, Covestro, Teijin Industries, SABIC, Mitsubishi Gas Chemical Company, Inc., Evonik Industries AG, Arla Plast AB and 3A Composites GmbH.|
|Report cover||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis|
Polycarbonate Sheets Market Overview
Continuous advancements in plastic technology, along with the introduction of less expensive interior furnishings in the automotive industry, are the major drivers for the growth of the polycarbonate sheet market.
Technologically advanced foils provide an amazing combination of brightness and uniformity. High quality items are widely used to smooth out the LEDs for a brighter atmosphere without problem areas and then to arrange the optimal light. The showcase of polycarbonate sheet is expected to attract major initiatives due to qualities such as impact and heat resistance, longer life expectancy, better protection, UV assurance, light dispersion and high in single place.
Multinational companies are constantly improving their product lines to meet existing needs in industries such as building and automotive, construction, packaging, etc. This attribute is expected to fuel the development of the global market in the near future.
Global Polycarbonate Sheet Market Trends
Growing consumer awareness of using eco-friendly polycarbonate sheets as well as disposing of plastic waste according to government rules is increasing the demand for eco-friendly products. The use of environmentally friendly items reduces emissions, ensuring minimal damage to the environment. SABIC, for example, is integrated throughout the value chain, from raw materials to the manufacture of finished products. This enables the company to reduce raw material sourcing costs and supply items to industries such as industrial, food and beverage, packaging, consumer goods and laboratories, among others. Companies such as Chi Mei Corp., DuPont, Idemitsu Kosan Co. Ltd. and others provide bisphenol A (BPA), an essential component of the manufacturing process.
Growing consumer awareness of the importance of reducing plastic waste disposal has led major companies to work with regional governments to achieve optimal product attributes while reducing environmental degradation to establish a sustainable business model. .
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Polycarbonate Sheets Market Segmentation
The global polycarbonate sheet market has been segmented by Acumen Research and Consulting on the basis of type and application. By type, the segment is separated into solid, multi-walled, corrugated and others. According to the polycarbonate sheets market forecast, the solid segment is expected to grow significantly over the next few years.
Further, the market is divided into building & construction, packaging, electrical & electronics, automotive, aerospace & defense, and others based on application. The construction and packaging industries are expected to drive the need for innovative products due to their multiple applications and favorable features. Due to their exterior and interior uses in the construction and building sectors, these sheets have a wide range of applications in the construction industry. The packaging and building and construction sub-segments are growing rapidly in developing countries due to increasing consumer disposable income and a change in the perception of housing.
Regional Overview of Polycarbonate Sheets Market
The global polycarbonate sheets market is divided into several geographical regions: Asia-Pacific, North America, Europe, Latin America, Middle East and Africa. According to an analysis of the polycarbonate sheet industry, Asia-Pacific has become the largest consumer of polycarbonate sheet revenue, followed by Europe. One of the main parameters of the vital need of the packaging sector as well as the construction sector is the increase in disposable income within the consumer base. Increased infrastructure spending due to foreign investment and government support is propelling regional development forward. The rise of end-use industries in the Asia-Pacific region, especially in developing economies such as China, Thailand, India, and Indonesia, is pushing the demand for conventional materials such as metal, glass, wood and others to be replaced.
Moreover, due to the development of end-use industries such as automotive, construction and others, Europe and North America have considerably saturated polycarbonate sheet market shares. However, packaging companies can provide economic opportunities due to the demand for individually packaged consumer goods from tiny and nuclear families. Lower energy prices resulting from lower crude oil prices should boost consumer spending. This is an essential indicator for the region’s economic recovery.
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Polycarbonate Sheet Market Players
Some of the major companies in the polycarbonate sheet market are Lotte Chemicals, Teijin Industries, Mitsubishi Gas Chemical Company, Inc., Arla Plast AB, Covestro, SABIC, Evonik Industries AG, and 3A Composites GmbH. The polycarbonate sheet market is dominated by companies such as Lotte Chemicals, SABIC, Covestro and Teijin which have a global presence. Some of the main factors contributing to their success are their extensive distribution network and innovative products.
Questions this report answers
- What was the market size of Polycarbonate Sheet Market in 2021?
- What will be the CAGR of the Polycarbonate Sheet Market during the forecast period from 2022 to 2030?
- Who are the key players in the Global Polycarbonate Sheet Market?
- Which region held the largest Polycarbonate Sheet market share in 2021?
- What are the key market drivers of Polycarbonate Sheet Market?
- Who is the largest end-user of the Polycarbonate Sheet market?
- What will be the market value of polycarbonate sheet in 2030?
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