The global polycarbonate sheets market is poised for significant growth, driven by promising demand from building & construction, and automotive sectors. Expected to record a CAGR of 4.3% during the forecast period (2019-2029), polycarbonate sheets are likely to gain remarkable momentum in the APAC’s market. Continued infrastructural activities in developing nations remains key to generating high revenue for key players in the polycarbonate sheets market.
Key Takeaways of Polycarbonate Sheets Market Research
- Crucial properties which include dimensional stability, thermal insulation, and high impact resistance are contributing to demand for polycarbonate sheets.
- Polycarbonate sheets are projected to become highly preferred substitute for glass and acrylic, owing to relatively low maintenance costs and degradation over time.
- Low carbon emission aspect is prompting end users to increase the adoption of polycarbonate sheets.
- The function of polycarbonate sheets in producing sturdy, eco-friendly and lightweight automotive components would steer the requirement through 2029.
- Rising use of polycarbonate sheets in residential and commercial spaces for roofing and cladding applications would reflect promising development during the assessment period.
- Lucrative opportunities will remain concentrated in the APAC’s polycarbonate sheets market through 2029.
- Variation in raw material costs is likely to hinder growth of the polycarbonate sheets market during the projection period.
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“Leading players of the polycarbonate sheets market should plan huge investments in fortifying their supply chain all over the APAC market to capitalize on rapidly growing demand,” says the FMI analyst.
APAC Takes 43% of Global Market Value
Customers in the Asia Pacific will be the foremost demographic for polycarbonate sheet manufacturers. Growing net worth income of customers in developing Asian economies is catching the attention of global market leaders. In the current scenario, APAC accounts for over 43% of the overall market estimation.
Rapid industrialization is emphasizing the requirement for polycarbonate sheets. Strong government impetus and favorable policies are further fueling growth of the polycarbonate sheets market in this region.
Taking into consideration maturing end-use industries such as construction and automotive, North America and Europe’s polycarbonate sheets market is relatively saturated. On the other hand, the packaging sector in these two regions would provide new expansion prospects as a result of heightened requirements from nuclear families.
Market Participants Prioritize Product Innovation for Profitable Avenues
Key players profiled in this research study, include but are not restricted to, Spartech, Trinseo, Mitsubishi Gas Chemical, SABIC, Evonik Industries, Arla Plast, Covestro, 3A Composites, Excelente, Palram Industries, and Gallina India. Leading players continues to focus on diversifying their product portfolio, particularly in the Asia Pacific region. Considering the enormous populace, the extensive scope of application-specific polycarbonate sheets would supply to variegated end-use categories.
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An embrace of R&D investments and initiative has also been underway. Major producers are targeted towards mergers & acquisitions of regional participants to gain a monopoly in the global polycarbonate sheets market. Key manufacturers are further likely to leverage opportunities from constant infrastructural development in the APAC region, mainly for roofing, security screening, and safety applications.
For example, Covestro propelled novel polycarbonate thermoplastics in the series ‘Makrolon’ that cater to several applications such as architectural glazing, LED lighting, eyewear, sporting equipment, electronics, medical devices, and automotive headlamps. Additionally, worldwide participants must work together with regional producers to increase their market foothold.
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