The global polycarbonate sheet market size is expected to reach USD 2.42 Billion by 2028 according to a new study by Polaris Market Research. The report “Polycarbonate Sheet Market Share, Size, Trends, Industry Analysis Report, By Type (Corrugated, Solid, Multi-Walled, Others); By End-Use (Automotive and Transportation, Construction, Aerospace and Defense, Industrial, Electronics, Others); By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The increasing adoption of polycarbonate sheets in various industries, growth in industrialization and urbanization, and rising investment in the construction industry drive the market's growth. Increasing application in the automotive and transportation sector, the need to reduce weight in automobiles for increased performance, and increasing demand for modernized vehicles have increased the demand for polycarbonate sheets from the automotive industry.
However, the COVID-19 outbreak has constrained the growth of the industry. The pandemic has affected industries such as transportation, aerospace, construction, and electronics, resulting in reduced demand for polycarbonate sheets from these industries.
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Polycarbonate sheet is used in diverse industries such as automotive and transportation, construction, aerospace and defense, industrial, electronics, and others. The construction segment held the highest share in 2020 due to increasing environmental awareness coupled with government investments in public infrastructure development.
The use of polycarbonate sheet in construction offers benefits such as lightweight, high strength, and durability. Economic growth and strengthening the construction sector in developing economies are expected to provide growth opportunities during the forecast period.
Asia-Pacific held the majority share in the industry in 2020 and is expected to maintain its dominance over the forecast period. Rising industrial growth, urbanization, and growth in the automotive sector support market growth in this region. Increasing applications in construction, defense and aerospace, and transportation industries further increase the demand for the industry in Asia-Pacific. Leading global players are expanding their presence in developing nations of China, Japan, India, and South Korea to tap the growth opportunities offered by these countries.
Some leading market participants include 3A Composites GmbH, Arla Plast AB, Brett Martin Ltd, Chi Mei Corporation, Covestro AG, Evonik Industries AG, Excelite, Koscon Industrial S.A., Mitsubishi Gas Chemical Company, Palram Industries Ltd, Plazit-Polygal Group, SABIC, Spartech, Suzhou Omay Optical Materials Co., Teijin Limited, Trinseo.
Major players are collaborating with each other for research and development, strengthening market presence, and technological innovation. Greater need to cater to growing customer requirements has encouraged participants to leverage new technologies to develop high-quality products.
Polaris Market Research has segmented the polycarbonate sheet market report on the basis of type, end-use and region:
Polycarbonate Sheet Type Outlook (Revenue, USD Billion, 2016 - 2028)
Polycarbonate Sheet End-Use Industry Outlook (Revenue, USD Billion, 2016 - 2028)
Polycarbonate Sheet Regional Outlook (Revenue, USD Billion, 2016 - 2028)