Cast Acrylic Sheet (Cell, Continuous) Market - Global Forecast to 2024
Oct 21, 2019, 12:15 ET
DUBLIN, Oct. 21, 2019 /PRNewswire/ -- The "Cast Acrylic Sheet Market by Type (Cell, and Continuous), Application (Sanitary Ware, Signage & Display, Architecture & Interior Design, Transportation, Medical, Food &Catering), and Region (APAC, Europe, NA, ME&A, and SA) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Cast Acrylic Sheet Market Size is Expected to Grow from USD 3.0 Billion in 2019 to USD 4.1 Billion by 2024, at a CAGR of 6.4%.
Increasing usage of cast acrylic sheet as a replacement to glass to drive market growth
The cast acrylic sheet industry is driven by various factors such as its usage in a wide range of applications, excellent mechanical & chemical properties, and lightweight and low handling cost as compared to glass. Cast acrylic sheet is also safer than glass as it does not shatter, and unlike glass shards, broken cast acrylic sheet pieces are not sharp. These properties will drive the demand for cast acrylic sheet during the forecast period.
Cell Cast process type is expected to grow at a higher CAGR during the forecast period.
Cell cast process type was the largest and likely to be the fastest-growing process for cast acrylic sheet market during the forecast period. The cell cast process is easier and requires low set-up cost. The cell cast process type is labor-intensive, and the process produces better-saturated color. It also possesses an improved impact resistance and optical clarity. These factors have supported the growth of cell cast acrylic sheet market during the forecast period.
Signage & display application to record the fastest growth during the forecast period.
Use of cast acrylic sheet in signage & display application is increasing at a fast pace and has become the largest application. The lightweight of the material and high permeability of light allowed by the cast acrylic sheet has led the advertisers to chose cast acrylic sheet over other materials, especially in Out-of-home advertising applications. The easy machinability and availability in various designs have led the architects and builders in selecting the material for architecture & design application. These factors will drive the demand for cast acrylic sheet during the forecast period.
APAC to be the largest and fastest-growing market during the forecast period
APAC to be the largest and fastest-growing market during the forecast period. The major countries in the region include China, India, Japan, and Indonesia. Rising income levels in these countries have led to an increase in demand for high-quality material, increasing urbanization and rapid infrastructure development has resulted in the growth of cast acrylic sheet in the region during the forecast period.
Some of the prominent players in the market are Mitsubishi Chemical Corporation (Japan), Altuglas International (France), Asia Poly (Malaysia), 3A Composites (Switzerland), and Aristech Acrylics (US).
Market Dynamics
Drivers
- Better Chemical and Mechanical Properties as Compared to Glass
- Wide Range of Applications
- Growing Demand for Lightweight Materials in End-Use Industries
Restraints
- Low Melting Point and Health Hazards From Burning Or Heating of Cast Acrylic Sheet
Opportunities
- Replacement of Traditional Glass Screens With Cast Acrylic Sheet
- Growing Retail Market in Developing Countries
Challenges
- Drop-in Raw Material Production
- Presence of A Large Number of Substitutes
Porter's Five Forces Analysis
Pricing Analysis
Companies Mentioned
- 3A Composites
- Acrilex
- Altuglas International
- Aristech Acrylics
- Asia Poly
- Astari Niagra
- Gevacril
- GRUPO IRPEN
- Jokema Industry
- LEI MEI Acrylic (Dongguan) Co., Ltd.
- Limacryl
- Madreperla
- Margacipta Wirasentosa
- Mitsubishi Chemical Corporation
- Nitto Jushi Kogyo Co., Ltd.
- Polyplastic
- Ray Chung Acrylic Enterprise
- Shanghai Acrylic (Cast) Chemical Corporation
- Spartech
- UB Acrylics
For more information about this report visit https://www.researchandmarkets.com/r/g3qkzf
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