Cast Acrylic Sheet Market worth $4.1 billion by 2024 | Key players Mitsubishi Chemical Corporation, 3A Composites, Madreperla, Gevacril, Astari Niagra.

According to recent market research 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", is expected to grow at from USD 3.0 billion in 2019 to USD 4.1 billion by 2024 at a compound annual growth rate (CAGR) of 6.4% during the forecast period. The major factor driving the cast acrylic sheet industry during the forecast period includes increasing expenditure on outdoor advertising and growing demand for lightweight material as a replacement for glass coupled with its usage in a wide range of applications are the key drivers for the cast acrylic sheet market.

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Cell cast acrylic is the most used process type for manufacturing cast acrylic sheet. In the cell cast process, melted polymethylmethacrylate (PMMA) resins are poured between two glass sheets and are pressed to manufacture a cast acrylic sheet. The process is cost-effective and requires low set-up cost. Acrylic sheets produced through cell casting process have better optical clarity, higher toughness, and good color saturation, which has led to the growth of cell cast acrylic sheet in the market.

The growth in advertisement industry has led to the development of out-of-home advertising, primarily digital out-of-home advertising. This has led to a high demand for cast acrylic sheets to be used in large displays, LED signage boards, and such applications. The usage in such applications has led to the growth cast acrylic sheet during the forecast period.

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The rise of income level along with rapid industrialization in the region has led to the growth of cast acrylic sheet market. Significant increase in the retail industry and increased advertising spending in India, Indonesia, China, and other countries, are likely to propel the market in the signage & display application segment in APAC. North America and Europe together accounted for over one-third share of the cast acrylic sheet market share in 2018. In North America, the signage & display application accounted for the largest market share in 2018.

The major market players include Mitsubishi Chemical Corporation (Japan), 3A Composites (Switzerland), Altuglas International (France), Aristech Acrylics (US), Madreperla (Italy), Gevacril (US), Margacipta Wirasentosa (Indonesia), Astari Niagra (Indonesia), Spartech (US), and Asia Poly (Malaysia).

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One of the major players in the market, Mitsubishi Chemical Corporation offers cast acrylic sheets under advanced molding & composites business segment as high-performance engineering plastics, under the brand SHINKOLITE. The company has consolidated itself by merging three companies. In 2018, it has also undertaken a joint venture with SABIC to produce raw material, thus strengthened its position through backward integration made them less dependent on raw material suppliers.

Another major player is 3A Composites, formerly known as Alcan Composites. It is an independent division of Schweiter Technologies (Switzerland). The company has a diversified array of products portfolio that includes aluminum composites, acrylic glass (PMMA), PET, PVC, polycarbonate, paper, and lightweight foam boards. The company has various products to offer under the acrylic sheets category, namely, Perspex, Crylux, Crylon, and Akrylon. The company has production sites in Germany, Switzerland, and Ireland. In 2018, the company bought out Perspex from Lucite international and a range of continuous cast acrylic sheet from Polycasa. These acquisitions have helped the company to strengthen its position internationally and in Europe. It has also helped the company to expand its product portfolio and offer both cell as well as continuous cast acrylic sheet in the market.

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