Polycarbonate Sheet Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3852
Polycarbonate sheet market size is anticipated to register substantial growth between the period 2021 and 2027 owing to higher application potential in several end-use verticals to offer superior physical and chemical properties. The ongoing innovations in plastic technologies and the rising progressions in the automobile sector have brought the influx of cheaper interior furnishings.
Polycarbonate sheets are impact-resistant, clear sheets derived from thermoplastic polymers that can be easily customized and shaped in various ways to cater to different purposes. Increasing preference for polycarbonate over conventional materials along with the surging need for glazing security and ID cards printing are some factors fueling the industry growth.
Adverse environmental impacts of the product may hamper the market progression to some extent. However, the mount in construction activities and infrastructure development investments will lead to propelled polycarbonate sheets demand in industrial and residential construction sectors.
The solid polycarbonate sheet industry, based on product segmentation, will witness lucrative growth on account of growing usage in the building & construction and automotive sectors. These sheets are widely employed in barrel vault roofing, roof lights, and glazing as they are lighter in weight. They are also utilized for lighting applications given their higher impact resistance and light transmission advantages. Rising adoption in hood lighting, lamp boxes, and industrial shops coupled with increasing application scope in safety glazing will play a crucial role in the industry expansion.
Demand for polycarbonate sheets in the building & construction sector is set to show notable proceeds through 2027 driven by swelling adoption in skylight roofing, and cladding activities. On account of their high strength & impact, durability, and lightweight attributes, polycarbonate sheets mark extensive presence in roofing applications to additionally offer high aesthetic appeal and sustainability. The product is also widely preferred by architectural designers as it saves a lot of construction time whilst reducing the overall construction costs. Rising penetration in clear roofing in buildings considering their superior finish will drive the segment progression.
Geographically, Asia Pacific is expected to record a significant remuneration in the polycarbonate sheet industry due to the bettering economic conditions in India, Thailand, and Indonesia. Rapid industrialization, mainly in the packaging, automotive, and construction sectors has propelled the need to replace conventional materials including glass, wood, and metal. There is a surging requirement for transparent sheets in automobiles, and greenhouses, and construction verticals. The fast-growing aviation industry in China has also steered the product penetration in interior decorations for effectively reducing the vehicle weight and increased fuel economy. The rapid expansion of manufacturing sector and growing number of end-use industries will add to the regional market growth.
Some leading participants in the polycarbonate sheet market include Mitsubishi Gas Chemical Company, Brett Martin Ltd (Brett Martin (Holdings) Ltd), Koscon Industrial, Lotte Chemicals, Polygal, Covestro AG (Bayer MaterialScience), Palram Industries (Ramat Yohanan Industries & Agriculture Development-Agricultural Cooperative Society), SABIC (Saudi Aramco), DS Smit, Trinseo and Plazit-Polygal Group.
Besides actively incorporating marketing partnerships, such as acquisitions and mergers, these companies are focusing on new product launches, production expansions, and investments for generating multiplied revenue sales and to gain competitive advantages.
For instance, in September 2021, Covestro inked an agreement with the Serafin Group for the sale of its European polycarbonate sheets business, constituting sales and support central management operations across the continent and manufacturing units in Belgium and Italy. This move supported the firm’s ongoing portfolio optimization process.
Effect of the COVID-19 crisis on polycarbonate sheet market forecast
The COVID-19 outbreak instigated a backtracking impact on the global economy and brought significant social and lifestyle changes. However, the demand for polycarbonate sheets saw a considerable spike with the rising requirement for PPE face masks. A vast number of schools, municipalities, hospitals, transportation companies, and manufacturing plants are increasingly turning to quality materials for rapidly building physical safety barriers to help their essential employees and customers. The growing use of polycarbonate sheets with silver ion antimicrobial agents to offer enhanced scratch and exceptional resistance to various common disinfecting cleansers also added to the market growth.
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