PUNE, India, February 5, 2018 /PRNewswire/ --
The report "Cast Acrylic Sheets Market by Type (Cell Cast Acrylic Sheet, Continuous Cast Acrylic Sheet), Application (Sanitary Ware, Signage & Display, Architecture & Interior Design, Automotive & Transportation), and Region - Global Forecast to 2022" published by MarketsandMarkets™, the market is projected to grow from an estimated USD 3.31 Billion in 2017 to USD 4.38 Billion by 2022, at a CAGR of 5.8% during the forecast period. Cast acrylic sheets are used in sanitary wares, signage & displays, architectural designs, interior design, automotive & transportation, and other applications. Other applications include food, medical, industrial equipment, and sports. Cast acrylic sheets are used as a cost-efficient substitute for materials such as glass, wood, ceramic, and metal in these applications. The focus on reducing the weight of products is fueling the growth of the Cast Acrylic Sheets Market.
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The cell cast acrylic sheet is projected to be the largest type segment of the Cast Acrylic Sheets Market from 2017 to 2022.
Cell cast is the oldest and most expensive method of producing acrylic sheets. The cell cast acrylic sheet segment accounted for the largest share of the overall Cast Acrylic Sheets Market in 2016. Investments and the cost of equipment used for the production of cell cast acrylic sheets are less than extruded cast sheets and continuous cast sheets. However, the overall cost of cell cast acrylic sheets is higher than continuous cast acrylic sheets, as it is a labor-intensive process. This factor is responsible for the high market share of the cell cast acrylic sheet type segment.
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Signage & display is projected to be the fastest-growing application segment of the Cast Acrylic Sheets Market during the forecast period.
Signage & display is a common application of cast acrylic sheets, mostly used in retailing & merchandising. They are used in advertising displays and screens at retail stores, airports, and hotel lobbies. The usage of signage and POS displays is growing with increasing marketing activities in the retail industry. These sheets are extremely strong and provide high weather resistance and hence, are most popular in internal as well as external signage applications. Their versatility, in terms of color, the range of design, and clarity make them the most suitable option for signage & displays. In terms of cost-effectiveness, the cast acrylic sheets lead to 25% savings when compared to the polycarbonate sheets. In addition, they are lighter as compared to glass.
The Middle East & Africa is projected to be the fastest-growing market for cast acrylic sheets; the rapid growth of end-use industries in the Asia Pacific region is projected to drive the demand for cast acrylic sheets during the forecast period.
APAC is the largest market for cast acrylic sheets, and this trend is expected to continue till 2022. China and India are the key markets in the region, contributing to more than half of the total demand for cast acrylic sheets in APAC. The increase in demand for cast acrylic sheets in the automotive & transportation, architecture & interior design, and sanitary ware industries in APAC can be attributed to continued urbanization and rising purchasing power of consumers in the region.
The Middle East & Africa region includes high purchasing power countries such as Saudi Arabia, UAE, and Qatar. These are the major consumers of premium grade sanitary ware products. The architecture industry in this region is expected to grow due to upcoming international events such as the Dubai Expo in 2020 and the FIFA World Cup 2022 in Qatar. These factors are estimated to fuel the demand for cast acrylic sheets in the region during the forecast period.
Key companies operating in the Cast Acrylic Sheets Market are Altuglas International (France), Aristech Acrylics (US), Evonik (Germany), Mitsubishi Chemical (Japan), and 3A Composites (Germany).
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