BEIJING, November 06, 2022 (GLOBE NEWSWIRE) — The Global Polycarbonate Sheet Market The size accounted for $1.8 Billion in 2021 and is expected to reach a market size of $2.8 Billion by 2030 growing at a CAGR of 5.1% from 2022 to 2030.
Polycarbonate Sheet Market Statistics
- The global polycarbonate sheet market revenue will be worth $1.8 billion in 2021, with a CAGR of 5.1% from 2022 to 2030
- The Asia-Pacific region accounted for 30.9% of the polycarbonate sheet market share in 2021
- The European market is expected to grow at a CAGR of 6% from 2022 to 2030
- Among applications, the electrical & electronics sector captures more than 28% of the overall market share in 2021
- Increasing demand from end-use industries is driving the value of the polycarbonate sheet market
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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 Period of Analysis||2018 – 2030|
|Polycarbonate Sheet Market Elementary Years||2021|
|Polycarbonate Sheet Market Forecast Data||2022 – 2030|
|Section Covered||By Type, By Application, And By Geography|
|Polycarbonate Sheet Market Regional area||North America, Europe, Asia Pacific, Latin America, and the 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 profiles, Regulatory analysis|
Polycarbonate Sheet Market Overview
Continuous progress in plastic technology, as well as the introduction of cheaper interior furniture in the automobile industry, are the main drivers of the growth of the polycarbonate sheets market.
Sheets of advanced technology provide an amazing combination of brightness and uniformity. High-quality items are widely used to smooth the LED for a brighter and trouble-free atmosphere, and then regulate the light optimally. The exhibition of polycarbonate sheets is expected to attract significant initiatives due to qualities such as impact and heat resistance, longer life expectancy, greater protection, UV guarantees, light dispersion, and simple erection.
Multinational corporations are constantly improving their product lines to meet the needs of industries such as building and automobiles, construction, packaging, and others. These attributes are predicted to drive the development of the global market in the near future.
Global Polycarbonate Sheet Market Trends
Rising consumer awareness of the environmentally sustainable use of polycarbonate sheets as well as the disposal of plastic waste in accordance with government regulations is increasing the demand for environmentally friendly products. The use of environmentally friendly goods reduces emissions, ensuring minimal environmental damage. SABIC, for example, is integrated along the value chain from raw materials to the manufacture of final goods. This allows the company to reduce the cost of procurement of raw materials and supply goods to industries such as industry, food and beverages, packaging, consumer goods, and laboratories, among others. Businesses such as Chi Mei Corp., DuPont, Idemitsu Kosan Co. Ltd., and others supply 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 local governments to achieve optimal product attributes while also reducing environmental degradation to create 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 on the basis of type, and application. Based on the type, the segment is divided into solid, multiwall, corrugated, and others. According to the polycarbonate sheet market forecast, the solid segment is predicted to develop significantly in the coming years.
Moreover, the market is segmented into building & construction, packaging, electrical & electronics, automotive, aerospace & defense, and others, based on 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 its exterior and interior uses in the construction and building sectors, this sheet has a wide range of applications in the construction industry. The packaging and building and construction sub-segments are experiencing rapid growth in developing countries as a result of rising consumer disposable incomes and shifting housing perceptions.
Polycarbonate Sheet Market Regional Overview
The global polycarbonate sheet market is segmented into several geographic regions: Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa. According to the polycarbonate sheet industry analysis, Asia-Pacific has emerged as the largest consumer of polycarbonate sheet revenue, followed by Europe. One of the primary parameters for the essential needs of the packaging as well as the construction sector is the increase in disposable income in the consumer base. The increase in infrastructure spending as a result of foreign investment and government support is driving the development of the region forward. The rise of the end-use industry in the Asia-Pacific region, especially in developing economies such as China, Thailand, India, and Indonesia, is driving the demand for conventional materials such as metal, glass, wood, and others to be replaced.
In addition, due to the development of end-use activities such as automotive, construction, and others, Europe and North America have the market share of saturated polycarbonate sheets. However, packaging companies can provide economic opportunities due to the demand for individually packaged consumer goods from small and nuclear families. Lower energy prices as a result of lower oil prices are expected to dampen 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, which have a global presence. Some of the main factors contributing to its success are an extensive distribution network and innovative products.
Questions Answered By This Report
- What will be the market size of Polycarbonate Sheet Market in 2021?
- What will be the Polycarbonate Sheet Market CAGR during the forecast period from 2022 to 2030?
- Who are the main players in the Global Polycarbonate Sheet Market?
- Which regions hold the largest share in the Polycarbonate Sheet Market in 2021?
- What are the key market drivers of Polycarbonate Sheet Market?
- Who are the largest end-user Polycarbonate sheet market?
- What will the Polycarbonate Sheet Market be worth in 2030?
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