Polycarbonate Sheets Market Worth 2.11 Billion USD by 2023
PUNE, India, May 30, 2018 /PRNewswire/ --
The result "Polycarbonate Sheets Market by Type (Solid, Multiwall, Corrugated and Others), End-Use Industry (Building & Construction, Automotive & Transportation, Electrical & electronics and Others), Region - Global forecast to 2023", published by MarketsandMarkets™, the Polycarbonate Sheets Market is projected to grow from USD 1.69 Billion in 2018 to USD 2.11 Billion by 2023, at a CAGR of 4.5% from 2018 to 2023. Increasing consumption of polycarbonate sheets in the automotive and construction industries to improve the fuel efficiency of automobiles and ensure high strength and improved safety features of buildings is driving the growth of the Polycarbonate Sheets Market across the globe.
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Among types, the solid segment is projected to lead the Polycarbonate Sheets Market during the forecast period.
The solid type segment is expected to lead the Polycarbonate Sheets Market in 2018. The growth of this segment can be attributed to the increased demand for solid polycarbonate sheets from the building & construction industry. Solid polycarbonate sheets are the most widely used PC sheets in various end-use industries as they offer superior mechanical properties such as high impact resistance and increased durability. Solid polycarbonate sheets are ideal for various applications such as barrel vault roofing, roof lights, and glazing, as polycarbonate sheets are lightweight in comparison to glass. Clear, translucent, or opaque polycarbonate sheets are also ideal for safety glazing applications, offering excellent fire resistance.
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The building & construction end-use industry segment is expected to lead the Polycarbonate Sheets Market between 2018 and 2023.
Among end-use industries, the building & construction segment is expected to lead the Polycarbonate Sheets Market in 2018. Polycarbonate sheets have the advantage of being lightweight and cost-effective over traditional materials used in building & construction applications. Polycarbonate sheets are also finding increasing acceptance in the building & construction industry due to their properties, such as durability, aesthetics, high performance, and easy handling compared to glass. The use of polycarbonate sheets in the building & construction industry also results in reduced heating and cooling costs while still protecting from extreme weather conditions. Polycarbonate sheets are used in industrial construction, greenhouses, industrial roofing and building, and manufacture of safety bars for doors and windows. The growth of the construction industry across the globe and advantages such as light weight, ease of installation, and energy conservation make polycarbonate sheets a preferred choice for a variety of applications. Hence, the use of polycarbonate sheets in this industry is expected to increase in the near future.
The Asia Pacific region is projected to be the largest market for polycarbonate sheets between 2018 and 2023.
The Asia Pacific region is the largest consumer of polycarbonate sheets across the globe, and this trend is projected to continue during the forecast period as well. The growth of the Asia Pacific Polycarbonate Sheets Market can be attributed to the economic growth of emerging economies such as China, India, and Taiwan, among others. Increasing production of the manufacturing sector of the Asia Pacific region to cater the domestic requirements for superior quality products and the increasing exports from the region are factors leading to an increased demand for polycarbonate sheets from the region.
Key players operating in the Polycarbonate Sheets Market include SABIC (Saudi Arabia), Covestro AG (Germany), Trinseo S.A. (US), Teijin Limited (Japan), Mitsubishi Gas Chemical Company, Inc. (Japan), Evonik Industries AG (Germany), Suzhou Omay Optical Materials Co., Ltd. (China), Excelite (China), Plazit-Polygal Group (Israel), Arla Plast AB (Sweden), 3A Composites GmbH (Germany), Palram Industries Ltd. (Israel), Ug-oil-Plast Ltd. (Russia), Gallina India (New Delhi), Koscon Industrial S.A. (Switzerland), Isik Plastik (Turkey), Brett Martin Ltd. (UK), and Spartech (US), among others.
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