Electrical & electronics industry is projected to increase the demand for polycarbonate sheets. Growth in automotive industry along with increased demand from the construction sector for roofing application, modern building wall, decoration of commercial building, and others is the main driver of polycarbonate sheets market. United States Market is projected to rise at a CAGR of 2.9% by 2034.
NEWARK, Del., June 20, 2024 /PRNewswire/ — According to Future Market Insights (FMI), the worldwide polycarbonate sheet market is expected to reach USD 2076.6 million in 2024 and USD 3415 million by 2034. The market is projected to rise at a CAGR of 5.1% by 2034.
Polycarbonate sheets find extensive application across industries for their outstanding physical and chemical attributes, encompassing durability, impact resistance, and UV protection. In developing nations, the automotive sector drives growth by prioritizing weight reduction and cost efficiency through integrated modular design.
India and China’s infrastructure investments drive demand for transparent roofing in residential and industrial sectors, fueling growth in emerging markets. As the population increases, demand for better farming appliances also increases, with governments providing financial aid to farmers.
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Polycarbonate sheets are gaining traction in greenhouses, livestock breeding, and nurseries for plants, providing excellent UV protection. The growth of the polycarbonate sheet market is expected to be boosted by the increasing demand from various end-use industries, particularly for high-performance, lightweight, and recyclable materials. The automotive industry is particularly interested in thermoplastic polymers, which are highly effective.
Governments in emerging countries are investing in infrastructure development to cushion the growth of the polycarbonate sheet market. However, the environmental effects of polycarbonate sheets are projected to impede growth in the future.
Key Takeaways from the Polycarbonate Sheet Market Report:
- The polycarbonate sheet industry is expected to reach a value of USD 3415 million by 2034.
- The market is projected to surge at a CAGR of 5.1% by 2034.
- China’s polycarbonate sheet market is expected to grow at a CAGR of 5.7% by 2034.
- The United States is projected to surge at 2.9% CAGR by 2034.
- Based on end-use, the building and construction segment is expected to hold a market share of 41.5% in 2024.
“Developing countries like India, China, and Brazil offer lucrative opportunities for the growth of the polycarbonate sheet market. China is a leading consumer of polycarbonate in industries such as automotive, electrical and electronics, construction, food packaging, and healthcare. Growing population in these countries has led to the infrastructural growth of medical equipment and healthcare facilities, further contributing to the polycarbonate sheet market.” – Says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competition Outlook
Leading companies are investing in research and development to develop diverse products, increasing global application scope and business prospects. These multinationals maintain market leadership due to strong supply chain networks and constant product innovations. Key companies are undertaking strategic activities like new product launches, contractual agreements, mergers, acquisitions, higher investments, and collaborations.
Industry Updates-
- In 2023, Trinseo inaugurated a polycarbonate dissolution pilot facility in Terneuzen, Netherlands, enabling the extraction of 100% recycled polycarbonate for sustainable material development.
- In 2022, The Exolon Group introduced Exolon® multi U.V. Hybrid X, a new, stronger, more flexible, and sustainable multiwall sheet, enhancing market presence.
Polycarbonate Sheet Market Key Players
- SABIC
- Trinseo
- Spartech
- Covestro
- Gallina India
- Evonik Industries
- Mitsubishi Gas Chemical
- Arla Plast
- 3A Composites
- Excelite
- Palram Industries
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Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global polycarbonate sheet market presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the polycarbonate sheet market based on type (solid, multiwall, and corrugated), end-use (building and construction, electrical and electronics, and automotive), and region
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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SOURCE Future Market Insights
