Westford USA, April 05, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest analysis, the market for Polycarbonate Sheet is anticipated to achieve a value of USD 1.98 billion by 2030, exhibiting a CAGR of 5.7% throughout the forecast period (2022-2030). The market's growth can be attributed to the rise in demand from the construction industry, expansion in the automotive industry, increasing demand for electrical and electronic applications, and technological advancements.
According to SkyQuest's latest research, the global market for polycarbonate sheets in the construction industry is expected to increase from USD 926 million in 2020 to USD 1.2 billion by 2025, showing a CAGR of 5.3%. This growth is driven by the construction industry's demand for lightweight and energy-efficient materials. Furthermore, the report indicates a growing preference for polycarbonate sheets over conventional materials like glass and metal due to their recyclability and energy efficiency. Additionally, adopting green building practices is fueling the demand for polycarbonate sheets in the construction industry.
Browse in-depth TOC on "Polycarbonate Sheet Market"
- Pages - 242
- Tables - 65
- Figures - 67
The significance of the polycarbonate sheet market is immense in contemporary times and finds widespread application in various industries such as construction, automotive, electrical, and electronic applications. The increasing demand for lightweight and energy-efficient materials and technological advancements drives the market's growth. Polycarbonate sheets are increasingly preferred over traditional materials due to their recyclability and energy efficiency, and they cater to the rising demand for green building practices in the construction industry. The market's projected growth highlights its importance in meeting modern industries' evolving demands.
Prominent Players in Polycarbonate Sheet Market
- SABIC
- Covestro AG
- Teijin Limited
- Mitsubishi Chemical Corporation
- Trinseo S.A.
- Sumitomo Chemical Co., Ltd.
- LOTTE Chemical Corporation
- Evonik Industries AG
- Chi Mei Corporation
- Palram Industries Ltd.
- Brett Martin Ltd.
- 3A Composites GmbH
- Spartech LLC
- Arla Plast AB
- Koscon Industrial S.A.
- Brett Martin Daylight Systems Ltd.
- Plazit-Polygal Group
- Excelite Plastic Ltd.
- Gallina USA, LLC
- Akyver GmbH
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Construction Segment to Drive Higher Sales as There is Increasing Demand for Energy-Efficient and Sustainable Building Materials
The increasing demand for energy-efficient and sustainable building materials, along with the growing adoption of polycarbonate sheets in roofing, cladding, skylight, and wall applications, has made the Construction segment a significant contributor to the rapid development of the Polycarbonate Sheet market in 2021. SkyQuest reports that this trend will continue from 2022 to 2030, with the market of this segment expected to grow at a CAGR of 10.4% during the forecasted period.
The North American region is expected to become a dominant player in the Polycarbonate Sheet market, with SkyQuest projecting a CAGR of 5.52% during the forecast period. This growth is being driven by favorable government regulations, major manufacturers' presence, and increasing demand from the construction and automotive industry, such as the Energy Conservation Program for Consumer Products by the U.S. Department of Energy (DOE), which sets minimum energy efficiency standards for various products, including lighting, appliances, and building materials.
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Multiwall type Segment to Exhibit Strong Growth due to Demand for Increasing Demand for Lightweight and Durable Material
In 2021, the Multiwall type emerged as the dominant method in the Polycarbonate Sheet market, and it is expected to continue leading from 2022 to 2030. The growth of this segment can be attributed to the increasing demand for lightweight and durable materials in the construction and automotive industries, as well as the growing adoption of multiwall polycarbonate sheets in various applications. SkyQuest predicts that the multiwall polycarbonate sheets segment will have the highest CAGR of 6.0% during the forecast period.
The Asia Pacific region has emerged as a significant market force, expected to retain its leading position by 2030. The region's growth is due to rapid urbanization, industrialization, infrastructure development, and favorable government policies, including India's "Make in India" initiative, expected to drive the demand for polycarbonate sheets in various applications.
A comprehensive analysis of the major players in the Polycarbonate Sheet market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in Polycarbonate Sheet Market
- Advent International, a private equity firm, has completed its negotiations to acquire SABIC's polycarbonate sheets business at a price of approximately $300 million. However, the deal is still subject to antitrust approval. Barclays acted as the sell-side advisor for the transaction.
- Palram India Pvt. Ltd., a fully-owned subsidiary of Palram Industries Ltd., Israel, has announced its acquisition agreement to acquire Tuflite Polymers Limited. Palram Industries Ltd. is a publicly listed company in Israel with a global turnover of around USD 500 Million and a workforce of approximately 1600 employees. The acquisition will be carried out through Palram India Pvt. Ltd., and it will involve the complete purchase of 100% of the business assets of Tuflite Polymers Limited, which is a leading distributor of polycarbonate sheets to major customers in India. Tuflite Polymers Limited has a staff strength of around 40 employees.
Key Questions Answered in Polycarbonate Sheet Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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