New York, Sept. 20, 2023 (GLOBE NEWSWIRE) -- According to Market.us, the Acrylic Sheets Market size was valued at USD 4,386.6 Million in 2022, And is projected to surpass around USD 8,390.2 million by 2032, and it is poised to reach a registered CAGR of 6.7% from 2023 to 2032.
Acrylic sheets, often known as acrylic glass or plexiglass, are flexible and clear plastic sheets produced from polymethyl methacrylate (PMMA), a synthetic polymer. These sheets are widely employed in various applications because of their unique mix of optical clarity, durability, lightweight nature, and simplicity of manufacture. The global acrylic sheets market is growing owing to the increasing demand for lightweight, resistant materials in construction and automotive and the growth of the retail and advertising industry.
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Key Takeaway:
- The global acrylic sheets market valued at USD 4,386.6 Million in 2022.
- By type, the cast acrylic sheets segment dominated the global acrylic market with a market share of 66.4% in 2022, owing to superior optical clarity and aesthetic appeal.
- By product type, the UV-resistant Acrylic Sheets segment dominated the market with a significant market share in 2022 owing to superior UV radiation protection.
- Based on the application, the construction and architecture segments led the market in 2022 with a market share of 35.4% owing to exceptional transparency, and UV radiation insulation.
- In 2022, the APAC region will be the dominant region in the global Acrylic Sheets market, with a market share of 34.2% of global revenue.
Factors affecting the growth of the Acrylic Sheets industry?
There are several factors that are affecting the growth of the acrylic sheets industry. These include:
- Construction and Building Industry: Construction industries are key drivers of the acrylic sheets market. Acrylic sheets are widely used in architectural applications such as windows, doors, skylights, and roofing due to their transparency, durability, and lightweight properties. These benefits lead to growth within construction industries, resulting in higher demand for acrylic sheets.
- Technology and Innovation: Changes to acrylic sheet manufacturing processes, such as enhanced optical clarity and scratch resistance, can open up new markets. Furthermore, technological innovation may even lead to cost reductions, making acrylic sheets more accessible.
- Environmental Regulations: Plastic and polymer environmental concerns and regulations can affect acrylic sheet markets, prompting manufacturers to adapt to sustainability requirements by using recycled acrylic sheets or developing eco-friendly production processes.
- Raw Material Prices: Fluctuations in oil prices, such as methyl methacrylate (MMA), the primary constituent of acrylic sheets, can significantly influence raw material costs. When combined, fluctuations can have an adverse impact on pricing and profitability within an industry.
Top Trends in the Acrylic Sheets Market
One of the prominent trends in the acrylic sheets market is the increasing demand for sustainable and eco-friendly acrylic sheets. With growing environmental concerns, consumers and industries are showing a preference for acrylic sheets that are manufactured using sustainable processes and materials. This trend is helping manufacturers to develop recyclable acrylic sheets with a lower carbon footprint. Innovation in product development is another noteworthy trend. Manufacturers continuously strive to enhance the properties of acrylic sheets, making them more durable, scratch-resistant, and versatile. These advancements are expanding the scope of applying acrylic sheets across various industries, from construction to automotive.
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Regional Analysis
APAC led the global acrylic sheets market with a 34.2% market share in 2022. This dominance can be attributed to multiple key factors. Construction industries in countries like China and India were major driving forces behind APAC's dominance. Acrylic sheets are widely employed for architectural and interior design applications in these nations' construction sectors. Furthermore, the automotive sector boom also helped propel APAC market expansion. North America held the second position in the market. This region benefits from a robust industrial and manufacturing sector that drives significant demand for acrylic sheets for applications such as signage, automotive components, and construction materials.
Competitive Landscape
The global acrylic market is comprised of several key players, each contributing to the industry in various ways. Mitsubishi Chemical Holdings Corp, Evonik Industries AG, Arkema SA, Avient Corp., Trinseo SA, Alro Steel Corporation, Lucite International, Aristech Surfaces LLC, Plaskolite, A&C Plastics, Inc., Sumitomo Chemical, Röhm GmbH, Schweiter Technologies AG, Unigel S.A., Other Key Players are prominent players known for their diverse range of acrylic products and innovation.
Scope of the Report
| Report Attributes | Details |
| Market Value (2022) | USD 4,386.6 Million |
| Forecast Revenue 2032 | USD 8,390.2 Million |
| CAGR (2023 to 2032) | 6.7% |
| APAC Revenue Share | 34.2% |
| Base Year | 2022 |
| Historic Period | 2016 to 2022 |
| Forecast Year | 2023 to 2032 |
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Market Drivers
The global acrylic sheets market is experiencing substantial growth, primarily driven by two key factors. Firstly, the construction and building industry's steady expansion, especially in emerging economies, is fueling the demand for acrylic sheets for applications such as windows, doors, and skylights due to their durability and versatility. Additionally, the increasing adoption of acrylic sheets in the automotive sector for purposes like windshields and interior components contributes to market growth. Moreover, the growing popularity of acrylic sheets in the advertising and signage industry, owing to their transparency and ease of customization, is further propelling market demand. Furthermore, the emphasis on sustainable and eco-friendly materials is prompting a shift towards acrylic sheets, which are recyclable and offer energy efficiency benefits.
Market Restraints
One significant restraint is the fluctuation in raw material prices. Acrylic sheets are primarily manufactured from petroleum-based resources, and any fluctuations in crude oil prices can directly influence the production costs of acrylic sheets. This, in turn, affects the pricing of acrylic sheets in the market and can make them less competitive compared to alternative materials during periods of sharp price increases. Another notable market restraint is environmental concerns and regulations. As global awareness of environmental issues grows, there is increasing scrutiny on the production and disposal of plastics, including acrylic sheets.
Market Opportunities
The global acrylic sheets market presents significant growth opportunities driven by several key factors. Firstly, the increasing demand for lightweight and durable materials in various industries, including construction, automotive, and aerospace, is propelling the market’s growth. Acrylic sheets offer a versatile solution that meets these requirements. Moreover, the growing trend towards eco-friendly and sustainable products has led to a surge in demand for acrylic sheets, as they are recyclable and can replace traditional materials like glass. Additionally, the expanding application areas of acrylic sheets in signage, displays, and interior design are opening up new avenues for market growth.
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Report Segmentation of the Acrylic Sheets Market
Type Insight
By type, the global acrylic sheets market is divided into extruded and cast acrylic sheets. Among these, the cast acrylic sheets segment dominated the market with a market share of 66.4% in 2022. This dominance is primarily attributed to their exceptional optical clarity and surface quality achieved through casting. These qualities make them the preferred choice for applications where visual aesthetics are paramount, such as upscale signage, displays, and architectural glazing. While extruded acrylic sheets have advantages, including cost-effectiveness and mass production capabilities, cast acrylic sheets' unique optical clarity, durability, and adaptability firmly established their supremacy in the market.
Product Type Insight
The global acrylic sheets market is divided into UV transmitting and UV resistant by product type. Among these, the UV-resistant acrylic sheet segment led the market with a significant share. UV-resistant acrylic sheets are specially designed to shield against harmful ultraviolet radiation, making them exceptionally well-suited for applications in outdoor and high-exposure settings. These sheets find wide usage in sectors like construction, automotive, and signage, where prolonged exposure to sunlight can otherwise lead to material deterioration and a loss of visual clarity.
Application Analysis
By application, the global acrylic sheets market is divided into construction and architecture, automotive, electronics and electrical, signage and displays, healthcare, aerospace and defense, furniture & and interiors, and other applications. Among these, the construction and architecture segment dominates the market with a market share of 35.4%. Acrylic sheets are favored in construction and architecture due to their unique properties, such as transparency that allows natural light while offering protection from UV radiation and harsh weather. This makes them well-suited for use in residential and commercial buildings for windows, skylights, and canopies. Furthermore, automotive manufacturers are increasingly adopting acrylic sheets as a replacement for traditional glass because of their lighter weight, superior impact resistance, and the industry's growing emphasis on safety and durability.
Market Segmentation
By Type
- Extruded Acrylic Sheets
- Cast Acrylic Sheets
By Product Type
- UV Transmitting
- UV Resistant
By Application
- Construction & Architecture
- Automotive
- Electronics & Electrical
- Signage and Displays
- Healthcare
- Aerospace & Defense
- Furniture & Interiors
- Other Applications
By Geography
- North America
- The US
- Canada
- Europe
- Germany
- France
- The UK
- Spain
- Italy
- Russia & CIS
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- ASEAN
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of MEA
Some of the major players include:
- Mitsubishi Chemical Holdings Corp
- Evonik Industries AG
- Arkema SA
- Avient Corp.
- Trinseo SA
- Alro Steel Corporation
- Lucite International
- Aristech Surfaces LLC
- Plaskolite
- A&C Plastics, Inc.
- Sumitomo Chemical
- Röhm GmbH
- Schweiter Technologies AG
- Unigel S.A.
- Other Key Players
Recent Development of the Acrylic Sheets Market
- In July 2023, Plaskolite started cell-cast acrylic production. This move follows the acquisition of a cell-cast acrylic manufacturing facility from Trinseo. Plaskolite will offer its cell cast PMMA sheet as OPTIX® Cell Cast Sheet, providing customers with customizable orders across various colors and gauges.
- In Dec 2022, Röhm, a leading acrylic sheet manufacturer, acquired the Functional Forms business of Saudi Basic Industries Corp. (Sabic), which includes producing Lexan polycarbonate (PC) sheets and films. This acquisition complements Röhm's existing Plexiglas and Acrylite brands, expanding its product offering to include PC sheets and films.
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