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. The increasing demand from the electrical and electronics industries for polycarbonate sheets due to their superior chemical and physical qualities is the primary driver of the polycarbonate sheet market. Furthermore, with continuing advancements in plastic technologies and the introduction of less expensive interior furnishings in the automotive sector, cutting carbon emissions is likely to be a key driver for the polycarbonate sheet market value in the coming years.
Polycarbonate Sheet Market Report Key Highlights
Polycarbonate is a translucent thermoplastic that comes in flat sheets. Thermoplastic materials are synthetic polymers that become moldable when heated and solidify when cold. Polycarbonate is exceedingly tough and absorbs little moisture, making it particularly impact-resistant. It is also resistant to chemicals and flame retardants. Polycarbonate sheet is long-lasting, transparent, and hygienic. Polycarbonate sheets can substitute glass and acrylic in a variety of applications due to their numerous advantages like ease of production, relatively inexpensive, versatility, durability, sound barrier, UV protection, and others.
Global Polycarbonate Sheet Market Trends
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
|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.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Rising consumer consciousness concerning the use of environment-friendly polycarbonate sheets and plastic waste disposal, in compliance with governmental regulations, is increasing the need for eco-friendly products. The use of eco-friendly products leads to lower emissions thereby ensuring minimal environmental degradation. Businesses for instance SABIC are integrated along the value chain from raw materials to finished goods production. This allows the business to diminish raw material procurement costs and supply their goods to industrial, food and beverage, packaging, consumer goods, and laboratory among other end-use industries. Businesses, for instance, Chi Mei Corp., DuPont, Idemitsu Kosan Co. Ltd., and others deliver bisphenol A (BPA), an essential ingredient in the industrial process.
Polycarbonate Sheet Market Segmentation
The worldwide polycarbonate sheet market segmentation is based on the type, application, and geography.
Polycarbonate Sheet Market By Type
According to a polycarbonate sheet industry analysis, the multiwall segment will account for a sizable market share in 2021. Multiwall polycarbonate sheets are useful for a variety of applications, including barrel vault covering, roof lights, & glazing, due to their reduced weight than glass. The demand for multi-walled sheets is also expanding because of their lightweight, excessive Uv protection, thermal insulation, and great transparency, which will aid in the segment's future growth.
Polycarbonate Sheet Market By Application
According to the polycarbonate sheet market forecast, the building and construction segment is predicted to increase significantly in the market during the predicted years. Building and construction uses are increasing as more architects recognize the advantages of polycarbonate sheets in cladding, skylight roofing, as well as other purposes that necessitate great aesthetic appeal while also being durable and sustainable. The product is also employed because of its featherweight and durability, significant emphasis and heat resistance, excellent optical purity, and other similar characteristics. Because it is an adequate replacement for acrylic sheets or optical components, its utilization is likely to skyrocket in the near future.
Polycarbonate Sheet Market Regional Outlook
The Middle East & Africa
Asia-Pacific Is Expected To Dominate The Global Polycarbonate Sheet Market
On the basis of region, the market for polycarbonate sheets has been bifurcated into Latin America, Europe, North America, Asia-Pacific, the Middle East, and Africa. Asia-Pacific captures a majority of the global market share due to speedy industrialization and fast-rising economic conditions.
Increasing end-use industries in Asia-Pacific, particularly in developing economies such as China, Thailand, India, and Indonesia are driving the need for the replacement of conventional materials, for instance, metal, glass, wood, and others.
Europe and North America signify relatively saturated polycarbonate sheet market share due to the development of end-use activities, for instance, automotive, construction, and others. Though, profitable opportunities may be presented by packaging industries due to the need for individually packaged consumer goods from small and nuclear families. The reduced energy prices due to the collapse in crude oil prices are expected to drive consumer expenditure. This is the key parameter for the economic recovery of this region.
Polycarbonate Sheet Market Players
Some of the top polycarbonate sheet market companies offered in the professional report include Lotte Chemicals, Covestro, Teijin Industries, SABIC, Mitsubishi Gas Chemical Company, Inc., Evonik Industries AG, Arla Plast AB, and 3A Composites GmbH.
The estimated value of global polycarbonate sheet market in 2021 was accounted to be USD 1.8 Billion.
The projected CAGR polycarbonate sheet market during the analysis period of 2022 to 2030 is 5.1%.
The prominent players of the global polycarbonate sheet market are Lotte Chemicals, Covestro, Teijin Industries, SABIC, Mitsubishi Gas Chemical Company, Inc., Evonik Industries AG, Arla Plast AB, and 3A Composites GmbH.
Asia-Pacific held the dominating polycarbonate sheet during the analysis period of 2022 to 2030.
North America region exhibited fastest growing CAGR for polycarbonate sheet during the analysis period of 2022 to 2030.
Increased demand from the farming sector and high demand in the automobile industry drives the growth of global polycarbonate sheet market.
Based on application, electrical & electronics segment is expected to hold the maximum share of the polycarbonate sheet market.