Increase in demand for product roofing systems and the increased use for manufacturing mirrors, headlamps, and vehicle body parts drive the growth of the global polycarbonate sheets market.
Allied Market Research published a research report on the global polycarbonate sheets market. The findings of the report states that the global market for polycarbonate sheets generated $1.5 billion in 2021, and is estimated to reach $2.6 billion by 2031, manifesting a CAGR of 5.7% from 2022 to 2031. The research provides a detailed analysis of changing market dynamics, key investment pockets, major segments, and competitive scenario for new entrants, market players, and investors.
Eswara Prasad, the Manager for Materials & Chemicals at Allied Market Research, highlighted, “Increasing construction activities and growth in automotive and electrical & electronics industries boost the growth of the global polycarbonate sheets market. Also, benefits associated with polycarbonate sheets such as superior chemical as well as impact resistance of polycarbonate sheets propels the market growth. Further, growing demand for polycarbonate sheets for building greenhouse is predicted to provide lucrative opportunities for the global polycarbonate sheets market growth during the forecast period.”
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The report provides an extensive analysis of driving forces, restraining factors, and opportunities to assist market players in availing the valuable strategies. Increase in demand for product roofing systems and the increased use for manufacturing mirrors, headlamps, and vehicle body parts drive the growth of the global polycarbonate sheets market. However, hazardous environmental impacts of polycarbonate sheets restrain the market growth to some extent. However, the growth of the agriculture industry and surge in demand from developed nations are expected to create multiple opportunities.
The research offers an extensive analysis of the impact of the Covid-19 pandemic on the polycarbonate sheets market across the globe. Manufacturing activities of polycarbonate sheets stopped completely or partially due to lockdown measures. Moreover, disruptions in supply chain and shortage of raw materials presented many challenges in carrying out manufacturing with full capacity. However, the demand from the end-use industries such as electrical & electronics, automotive, aerospace, and others reduced significantly due to stoppage of daily operations during the lockdown. However, the demand is estimated grow steadily post-lockdown as operations get back on track.
The report provides an in-depth segmentation of the global polycarbonate sheets market based on type, end-use industry, and region. On the basis of type, the multiwall segment accounted for the highest market share in 2021, holding nearly two-fifths of the total market share, and is expected to maintain its lead position by 2031. On the other hand, the solid segment is projected to register the fastest CAGR of 6.0% during the forecast period.
On the basis of end-use industry, the electrical & electronics segment held the largest market share, contributing to more than one-third of the global polycarbonate sheets market in 2021, and is projected to maintain its leadership status during the forecast period. On the other hand, the aerospace and defense segment is estimated to showcase the highest CAGR of 6.5% from 2022 to 2031.
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Based on region, the market across Asia-Pacific contributed to the highest market share in 2021, accounting for more than three-fifths of the global polycarbonate sheets market, and will continue its dominance during the forecast period. In addition, the region is also expected to register the fastest CAGR of 6.4% from 2022 to 2031. The report also analyzes the regions including North America, Europe, and LAMEA.
The report analyzes the key market players operating in the global polycarbonate sheets market. These players include Covestro AG, Uvplastic Material Technology Co., Ltd., Polyvalley Technology Co., Ltd., Jiaxing Innovo Industries Co., Ltd., Emco Industrial Plastics, Tuflite, Exolon Group, Spolytech, Palram Industries Ltd., and MG Polyplast Industries Pvt. Ltd.
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