Global polycarbonate sheets market is set for propitious growth, invigorated by promising demand from automotive, and building & construction industries. Witnessing a projected CAGR of 4.3% over 2019-2029, this billion-dollar industry will receive noteworthy momentum from Asia Pacific market. Expediting infrastructural activities in developing countries continue to create lucrative white spaces for manufacturers of polycarbonate sheets.
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Key Takeaways of Polycarbonate Sheets Market Study
- Crucial attributes such as high impact resistance, thermal insulation, and dimensional stability are boosting the demand for polycarbonate sheets.
- Polycarbonate sheets are set to become a preferred alternative for acrylic and glass on account of low maintenance cost and degradation over time.
- Low carbon emission is prompting manufacturers to accelerate the adoption of polycarbonate sheets.
- Role of polycarbonate sheets in manufacturing sturdy, lightweight and eco-friendly automotive components will steer the demand through 2029.
- Increasing usage of polycarbonate sheets in commercial and residential spaces for cladding and roofing applications will exhibit promising growth through the forecast period.
- Gains in polycarbonate sheets market will remain concentrated in Asia Pacific through 2029.
- Fluctuation in raw material prices will hinder the growth of polycarbonate sheets market during projection period.
Globally leading manufacturers of polycarbonate sheets must plan massive investments in strengthening their supply chain across Asia Pacific to capitalize on surging demand.
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Asia Pacific Garners over 43% Share in Global Market
Consumers in Asia Pacific (APAC) would be the key demographic for polycarbonate sheet manufacturers. Increasing net worth income of consumers in emerging Asian economies is capturing the attention of global market leaders. APAC continues to account for more than 43% of the total market value. Moreover, rapid industrialization is accentuating the demand for polycarbonate sheets. Strong government impetus and supporting policies are facilitating the growth of polycarbonate sheets market in this region.
In view of maturing end-use industries such as automotive and construction, polycarbonate sheets market in Europe and North America is relatively saturated. However, the packaging industry in these two regions will offer new growth opportunities on account of heightened demand from nuclear families.
Industry Leaders to Unlock Profitable Avenues through Product Innovation
Major players profiled in this study, include but are not limited to, Trinseo, Spartech, Mitsubishi Gas Chemical, Evonik Industries, SABIC, Arla Plast, 3A Composites, Covestro, Excelite, Gallina India, and Palram Industries. Leading players continue to diversify their product portfolio, especially in Asia Pacific. In view of enormous population, wide range of application-specific polycarbonate sheets will cater to variegated end-use segments.
For instance, Covestro launched new polycarbonate thermoplastics under the series ‘Makrolon’ which cater to various applications such as LED lighting, architectural glazing, eyewear, electronics, sporting equipment, automotive headlamps, and medical devices. Moreover, global players must collaborate with regional manufacturers to expand their market foothold.
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More About the Report
FMI’s study offers an in-depth market forecast and analysis on the polycarbonate sheets market. The major categories encompassed by the report include end-use (electrical & electronics, automotive, building & construction), type (solid, multiwall, corrugated) across five regions (Europe, Middle East & Africa, Asia Pacific, North America, Latin America).
For additional insights on how the market growth will unfold over the following years, write to press@futuremarketinsights.com