Chicago, June 14, 2022 (GLOBE NEWSWIRE) -- According to the new market research report "Polycarbonate Sheets Market by Type (Solid, Multiwall, Corrugated), End-use Industry (Building & Construction, Electrical & Electronics, Automotive & Transportation, Aerospace & Defense, Packaging), and Region - Global Forecast to 2025", The global polycarbonate sheets market size is projected to grow from USD 1.7 billion in 2020 to USD 2.2 billion by 2025, at a CAGR of 5.1% between 2020 and 2025.
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Polycarbonate sheets are made of polycarbonate resins and possess properties, such as impact resistance and good light transmission. These sheets, also called thermoplastic sheets, have a special property in which when being heated to their melting point, they do not exhibit any significant degradation. Polycarbonate sheets also offer 250 times greater impact resistance than glass and almost 30 times than acrylic sheets. These properties have enabled their use in different engineering applications.
In terms of value, the solid segment is projected to account for the largest share of the polycarbonate sheets market, by type, during the forecast period.
Solid is projected to be the largest type segment in polycarbonate sheets market. The growth of the solid segment can be attributed to the increasing use of solid polycarbonate sheets in various end-use industries as these sheets provide better physical properties as compared to other polycarbonate sheets.
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Packaging industry is projected to register the highest CAGR during the forecast period.
Packaging is the fastest growing end-use industry contributing the largest share to the global polycatbonate sheets market. Polycarbonate plastic is a perfect material for baby bottles, refillable water bottles, sippy cups, and many other food & beverage containers. Because polycarbonate is highly transparent to visible light with a better light transmission than many kinds of glass, it is highly sought out for use in food packaging.
The APAC region leads the polycarbonate sheets market in terms of value.
APAC is the fastest-growing region for polycarbonate sheets market. The growth in demand for polycarbonate sheets in the region can be largely attributed to the growing infrastructure and building & construction industries. Moreover, the rising number of end-use industries in the region is also leading to innovations and developments in the field of polycarbonate sheets, thereby fueling the growth of the APAC polycarbonate sheets market.
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Key Players in the Polycarbonate Sheets Industry are:
- SABIC (Saudi Arabia),
- Covestro AG (Germany),
- Trinseo S.A. (US),
- Teijin Limited (Japan),
- Mitsubishi Gas Chemical Company, Inc. (Japan),
- Evonik Industries AG (Germany),
- Suzhou Omay Optical Materials Co., Ltd. (China),
- Excelite (China),
- Plazit-Polygal Group (Israel),
- Arla Plast AB (Sweden),
- 3A Composites GmbH (Germany),
- Palram Industries Ltd. (Israel),
- Ug-oil-Plast Ltd. (Russia),
- Gallina India (New Delhi),
- Koscon Industrial S.A. (Switzerland),
- Isik Plastik (Turkey),
- Brett Martin Ltd. (UK), and
- Spartech (US).
These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch/development, and partnership, agreements, and joint venture between 2014 and 2021, to enhance their market shares and expand their global presence.
Saudi Basic Industries Corporation (SABIC) is engaged in the manufacture and distribution of chemicals, agri-nutrients, and metal products. The company manufactures the essential building blocks for a wide range of chemicals, plastics, foams, and other materials used in industries such as automotive, healthcare, and construction, and in household goods. The company has a broad product portfolio that includes olefins, oxygenates, aromatics, glycols, ethanolamines, linear alpha olefins, polyethylene, polypropylene, polyethylene terephthalate, polyvinyl chloride, polystyrene, and polycarbonate and its blends. Polycarbonate sheets are a part of the company’s petrochemicals and specialities business segment.
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