Dublin, June 17, 2024 (GLOBE NEWSWIRE) -- The "North America Polycarbonate Sheets Market Size, Share & Trends Analysis Report By Type (Multiwall, Solid, Corrugated and Others), By End-Use Industry, By Country and Growth Forecast, 2024 - 2031" report has been added to ResearchAndMarkets.com's offering.
The North America Polycarbonate Sheets Market would witness market growth of 5.3% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 27,610.23 thousand square meters, showcasing a growth of 19.9% (2020-2023).
In the Electrical & Electronics sector, polycarbonate sheets are widely employed for various applications due to their excellent electrical insulation properties, high heat resistance, and durability. These sheets are commonly used for manufacturing electrical enclosures, insulators, and protective covers for electronic components and devices. Therefore, the US market consumed 10,877.86 thousand square meters of electrical & electronics segment in 2023.
The US market dominated the North America Polycarbonate Sheets Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $327.7 million by 2031. The Canada market is experiencing a CAGR of 7.3% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 6.7% during (2024 - 2031).
The market refers to the industry involved in producing, distributing, and selling sheets, which are flat, transparent, or translucent plastic sheets made from polycarbonate resin. These sheets are characterized by their exceptional properties, such as high impact resistance, optical clarity, and versatility, making them suitable for various applications across various industries. They offer protection against harsh weather conditions while allowing natural light to penetrate.
Sheets are utilized for skylights to bring natural daylight into interior spaces, enhancing aesthetics and reducing the need for artificial lighting. Their transparency and durability make them ideal for overhead glazing solutions. The sheets are employed in canopies and awnings to provide shelter from the elements while allowing diffused light to pass through. They are commonly used in outdoor spaces such as patios, walkways, and entrances.
The growing construction activity in Canada, driven by urbanization, population growth, and infrastructure development, leads to a surge in demand for building materials. Polycarbonate are sought after for various construction applications such as roofing, skylights, facades, and partitions due to their durability, transparency, and versatility. As per the data from Statistics Canada, investment in building construction rose 1.7% to $19.8 billion in November 2023. The residential sector grew 2.2% to $13.7 billion, while non-residential sector investment increased 0.4% to $6.0 billion.
Likewise, with Mexico emerging as a key player in automotive manufacturing, there is a growing aftermarket for vehicle components and accessories. According to the International Trade Administration (ITA), Mexico is the world's seventh-largest passenger vehicle manufacturer, producing 3.5 million vehicles annually. 88% of vehicles produced in Mexico are exported, with 76% destined for the United States.
Mexico is the world's fifth-largest manufacturer of heavy-duty vehicles for cargo, hosting 14 manufacturers and assemblers of buses, trucks, and tractor trucks, as well as two manufacturers of engines. Therefore, growing construction activities and the increasing automotive industry in the region are promoting the market's growth.
Key Companies Profiled
- Covestro AG
- Palram Industries Ltd.
- SABIC (Saudi Basic Industries Corporation)
- Teijin Limited
- UVPLASTIC Material Technology Co., Ltd.
- S Polytech Co Ltd.
- Polyvalley Technology (Tianjin) Co.,Ltd.
- Jiaxing Innovo Industries Co., Ltd.
- Exolon Group NV (Serafin Group)
- Emco Industrial Plastics, Inc. (Newbury Franklin LLC)
Market Report Segmentation
By Type (Volume, Thousand square meters, USD Billion, 2020-2031)
- Multiwall
- Solid
- Corrugated
- Others
By End-Use (Volume, Thousand square meters, USD Billion, 2020-2031)
- Electrical & Electronics
- Building & Construction
- Automotive & Transportation
- Aerospace & Defense
- Packaging
- Others
By Country (Volume, Thousand square meters, USD Billion, 2020-2031)
- US
- Canada
- Mexico
- Rest of North America
For more information about this report visit https://www.researchandmarkets.com/r/j12g5i
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