Acumen Research and Consulting recently published report titled “Polycarbonate Sheet Market Analysis Report and Region Forecast, 2022 – 2030”
BEIJING, Nov. 06, 2022 (GLOBE NEWSWIRE) — The Global Polycarbonate Sheet Market Size accounted for USD 1.8 Billion in 2021 and is estimated to achieve a market size of USD 2.8 Billion by 2030 growing at a CAGR of 5.1% from 2022 to 2030.
Polycarbonate Sheet Market Statistics
- Global polycarbonate sheet market revenue was worth USD 1.8 billion in 2021, with a 5.1% CAGR from 2022 to 2030
- Asia-Pacific region was accounted 30.9% of polycarbonate sheet market share in 2021
- Europe market is expected to grow at a CAGR of 6% from 2022 to 2030
- Among applications, electrical & electronics sector capture over 28% of the overall market share in 2021
- Increasing demand from end-use industries drives the polycarbonate sheet market value
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Polycarbonate Sheet Market Report Coverage:
|Market||Polycarbonate Sheet Market|
|Polycarbonate Sheet Market Size 2021||USD 1.8 Billion|
|Polycarbonate Sheet Market Forecast 2030||USD 2.8 Billion|
|Polycarbonate Sheet Market CAGR During 2022 – 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, and Middle East & Africa|
|Key Companies Profiled||Lotte Chemicals, Covestro, Teijin Industries, SABIC, Mitsubishi Gas Chemical Company, Inc., Evonik Industries AG, Arla Plast AB, and 3A Composites GmbH.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Polycarbonate Sheet Market Overview
Continuous advancements in plastic technology, as well as the introduction of less expensive interior furnishings in the automobile industry, are the primary drivers of the polycarbonate sheet market growth.
The technologically advanced sheets provide an amazing combination of brightness and uniformity. The high-quality items are widely used to smooth out LEDs for a brighter atmosphere with no issue areas, and then arrange the optimum light. The polycarbonate sheet showcase is expected to attract significant initiatives because of qualities such as impact and warmth resistance, longer life expectancy, greater protection, UV assurance, light dispersion, and simple establishment.
Multinational corporations are constantly improving their product lines to fulfill existing needs in industries such as building and automobile, construction, packaging, and others. This attribute is predicted to fuel global market development in the near future.
Global Polycarbonate Sheet Market Trends
Rising consumer awareness about the use of environmentally sustainable polycarbonate sheets as well as plastic waste disposal in accordance with government rules is raising the demand for eco-friendly products. The usage of environmentally friendly items reduces emissions, ensuring minimal environmental deterioration. SABIC, for example, is integrated along the value chain from raw materials to final goods manufacture. This enables the company to reduce raw material procurement costs and supply items to industries such as industrial, food and beverage, packaging, consumer goods, and laboratories, among others. Businesses such as Chi Mei Corp., DuPont, Idemitsu Kosan Co. Ltd., and others provide bisphenol A (BPA), a critical component in the manufacturing process.
Increasing consumer awareness of the importance of reducing plastic waste disposal has led leading corporations to collaborate with regional governments to achieve optimal product attributes while also reducing environmental degradation to establish a sustainable business model.
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Polycarbonate Sheet Market Segmentation
The global polycarbonate sheet market has been segmented by Acumen Research and Consulting based on type, and application. By type, the segment is separated into solid, multiwall, corrugated, and others. According to the polycarbonate sheet market forecast, the solid segment is predicted to develop significantly in the next years.
Moreover, the market is divided into building & construction, packaging, electrical & electronics, automotive, aerospace & defense, and others, based on the application. The construction and packaging sectors are anticipated to drive the need for innovative products due to their multiple applications and favorable characteristics. 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. Packaging and the building and construction sub-segments are experiencing rapid growth in developing nations as a result of rising consumer disposable income and a shift in housing perception.
Polycarbonate Sheet Market Regional Overview
The global polycarbonate sheet market is separated into several geographic regions: Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa. According to a polycarbonate sheet industry analysis, Asia-Pacific has emerged as the largest revenue consumer of polycarbonate sheets, followed by Europe. One of the primary parameters for the vital need from the packaging as well as the construction sector is the increase in disposable income within the consumer base. Rising infrastructure spending as a result of foreign investments and government backing is propelling regional development forward. Increasing end-use industries in the Asia-Pacific region, particularly in developing economies such as China, Thailand, India, and Indonesia, are pushing the demand for conventional materials such as metal, glass, wood, and others to be replaced.
Furthermore, due to the development of end-use activities like as automotive, construction, and others, Europe and North America have substantially saturated polycarbonate sheet market shares. However, packaging companies may give economic opportunities due to the demand for individually packaged consumer goods from tiny and nuclear families. Reduced energy prices as a result of the drop in crude oil prices are projected to drive consumer spending. This is a critical indicator for the region’s economic recovery.
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Polycarbonate Sheet Market Players
Some of the prominent polycarbonate sheet market companies 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, who have a global presence. Some of the primary factors contributing to their success are their extensive distribution network and innovative products.
Questions Answered By This Report
- What was the market size of Polycarbonate Sheet Market in 2021?
- What will be the CAGR of Polycarbonate Sheet Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Polycarbonate Sheet Market?
- Which region held the largest share in Polycarbonate Sheet Market in 2021?
- What are the key market drivers of Polycarbonate Sheet Market?
- Who is the largest end user Polycarbonate Sheet Market?
- What will be the Polycarbonate Sheet Market value in 2030?
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