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Polycarbonate Sheets Global Market Analysis Development Trends, Industry Growth Opportunities, Regional Demand and Forecast 2024-2033
Polycarbonate Sheets Global Market
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According to The Business Research Company's, The polycarbonate sheets market size has grown strongly in recent years. It will grow from $2.69 billion in 2023 to $2.87 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to construction industry growth, lightweight material preference, customizable design needs, emphasis on durability, advancements in manufacturing, transparency and clarity demand.
The polycarbonate sheets market size is expected to see strong growth in the next few years. It will grow to $3.85 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to safety and security requirements, sustainability and eco-friendly solutions, UV resistance in outdoor applications, design flexibility requirements, energy efficiency regulations. Major trends in the forecast period include demand for lightweight materials, energy efficiency and insulation, durability and impact resistance, transparency and clarity, adaptation to modern architecture.
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Market Drivers and Trends:
The increase in demand from building and construction is contributing to the growth of the polycarbonate sheet market. Polycarbonate is being popularly used in many well-known buildings due to its strength and high resistance. The resistance of polycarbonate to hail, falling branches, and other items is significantly greater than that of glass, acrylic, or GRP. Furthermore, unlike GRP, polycarbonate does not become brittle over time. Polycarbonate has several unique advantages, along with sustainability and cost-effectiveness, among architects.
Technological advancement is a key trend gaining popularity in the polycarbonate sheet market. The rapid advancement of polycarbonate sheet manufacturing technologies has significantly enhanced the efficiency and output of sustainable material solutions. For example, in July 2021, SABIC launched sustainable polycarbonate sheet products. The new film and sheet products will connect with the company's existing TRUCIRCLE initiative and respond to a world-growing demand for sustainable material solutions in an increasingly circular plastics economy.
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Major Key Players of the Market:
Nippon Steel Corporation, SABIC (Saudi Arabia), Covestro AG, Evonik Industries AG Exolon Group, DS Smit plc, Teijin Limited (Japan), Mitsubishi Gas Chemical Company Inc., Trinseo S.A., 3A Composites GmbH, SK Chemical Co Ltd., Palram Industries Ltd., Brett Martin Ltd., Impack Pratama, S polytech, Arla Plast AB, Jiaxing Innovo Industries Co Ltd., Isik Plastik, Plazit Polygal Group, Emco Industrial Plastics, Excelite, Polygal, Gallina India, MG Polyplast Industries Pvt Ltd., UVPlastic Material Technology Co Ltd., Suzhou Omay Optical Materials Co Ltd., Koscon Industrial, Spartech LLC, Polyvalley Technology Co Ltd., SafPlast Innovative
Polycarbonate Sheets Market 2024 Key Insights:
• The polycarbonate sheets market size is expected to see strong growth in the next few years. It will grow to $3.85 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
• Rise In Construction Sector To Drive Market Growth
• Technological Advancements Driving Innovation In Polycarbonate Sheets Market
• Asia-Pacific was the largest region in the polycarbonate sheets market in 2023 and is also expected to be the fastest-growing region in the forecast period
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