Acrylic Sheets Market is predicted to reach USD 6.89 billion at a CAGR of ~5.83% during the forecast period

Pune, India, April 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Acrylic Sheet Market.

Market Synopsis

Market valuation of acrylic sheet was recorded at USD 3,210 million at the end of 2020 and is expected to reach an approximate evaluation of USD 6.89 billion by the end of the review period. The global market is positioned to register a CAGR of 5.83%, which projects moderate and consistent growth.

Acrylic sheets are plastic sheets formulated from acrylic plastic materials which possess extreme stiffness, high strength, and high-quality optical clarity. Acrylic sheets are considered to be commercially easy to fabricate, easy to thermoform, and have high bonding capacity with solvents as well as adhesives. Acrylic sheets are considered to be exhibiting similar characteristics as that of glass, but are more heat resistant, chemical resistant, and has high impact resistance as compared to glass.

Competitive Landscape

The competitive landscape offers an analysis of the key developments by the companies operating in the market worldwide. Key companies operating in the global ecosystem are highly innovative in terms of product innovation, product positioning, research & development activities, expansion strategies and more.

Companies such as Aristech Surfaces LLC, LUCITE INTERNATIONAL, Evonik Industries AG, 3A Composites GmbH, Arkema, Elastin International Corp., Asia Poly Industrial Sdn Bhd, Ray Chung Acrylic Enterprise Co., Ltd., Plaskolite, JuMei Acrylic, Gevacril, PT Margacipta Wirasentosa, Shen Chuen Acrylic (Ningbo) Co., Ltd., and Sun Acrylam Private Limited are among the key market competitors based on their market reach and accessibility. The overall market pertaining to acrylic sheets is highly fragmented in nature and thereby encompasses a lot of key companies that are recognized as market leaders, industry innovators, and emerging participants I the marketspace.

Segmentation

By Type

• Extruded acrylic sheets : Extruded acrylic sheets are kind of plastic sheets that are considered at least 10 times harder than glass. Extruded sheets have high resistance to heat and are also considered bendable. These factors make it useful for an array of application areas in multiple end-use industries such as construction, automotive, electronics, and more.


• Cast acrylic sheets : Cast acrylic sheets considered more useful plastic sheets than their alternative materials. The substance has high thermal stability and have higher surface hardness as compared to extruded acrylic sheets. They are widely utilized across industries due to their better surface finish, optical characteristics, and flatness.

By Application

• Construction & architecture : Demand for acrylic sheets in the segment is majorly observed due to increased renovation activities as well as rising investment in commercial construction activities across the US, Germany, UK and more.


• Healthcare & medical : Demand for acrylic sheets in healthcare industry is prevalent and has in fact reflected a surge in the recent times. One of the key attributes for rise in demand for acrylic sheets in the healthcare industry was the emergence of covid-19 pandemic


• Hospitality : The hotels and restaurant chains are increasing putting efforts to innovate their outlook to grab a substantially higher customer base. These factors are estimated to drive demand for acrylic sheets in the marketspace.


• Retail : The retail segment is one of the largest application markets for acrylic sheets globally. Considering the spread of hypermarkets and super stores across the globe, the demand for strong yet attractive finishing is among the key priorities.


• Automotive & transportation : The demand for acrylic sheets in the automotive segment is impeccable, provided that consumers are more focused on attaining high engine capacity, reduced carbon emissions, lower fuel consumption pattern, and optimum performance vehicles.


• Food & beverages : The food industry is economically growing due to rising demand for packaged food and beverages worldwide. Increasing consumer inclination towards the dependency on packaged food articles is yet another key factors driving demand for acrylic sheets in the sector globally.


• Electrical & electronics : Electrical and electronics segment is the fastest growing application markets of acrylic sheets. One of the key attributes of the emerging markets is rising demand for electronic gadgets across countries of Asia Pacific, and North America. Consumers are increasingly investing in purchasing high-quality semi-conductors, television sets, cellular phones, laptops, and various other electronic gadgets which are being increasingly demanding high-performance acrylic sheets.


• Sanitary ware : Acrylic sheet based sanitaryware products are exceptionally strong, durable, chemical resistant, and scratch resistant. The spread of colors and array of effects through acrylic sheet based sanitaryware is one of the key driving forces of the product among the customer base globally. High demand for acrylic sheet-based bathtubs, toilets, washbasins, and bidets among others is considered to be the typical force driving industry development in the field.


• Marine : The use of acrylic sheets in marine is comparatively lower than other end-use markets, however, increasing marine sector coupled with growing demand for private yatch, entertainment commercial boats and more globally is anticipated to be one of the key driving factors of the market.


• Aerospace & defense : The defense industry serves as one of the critical sectors for acrylic sheets globally. Government across the globe are inclined towards purchasing aircrafts and defense articles that would provide ultimate safety, provide prolonged operational life, and be sturdy.


• Others : Acrylic sheets, owing to their unique properties, are observed to be utilized around various industries few of the other key industries that highly depend on acrylic sheets are packaging sector, home furnishing sector, agriculture & horticulture, ornamental & gardening sector, and more. These industries are cumulatively poised to reflect positive demand trend of acrylic sheets globally over the foreseeable future.

By Region

• North America: Plastic sheeting is one of the crucial aspects of the industry due to their vivid utilization and array of applications. Rising demand for housing project renovation in the region, coupled with increasing demand for innovative high-performance automobiles is one of the key aspects supporting demand for acrylic sheets in the region over the coming years.


• Europe: Europe is one of the highly controversial markets in terms of plastics consumption pattern and movement. The demand for acrylic sheet in the region is highly reliant on movement of end-use markets. Innovators and product formulators are in constant controversies with various environmental agencies and government framework prevalent in the region.


• Asia-Pacific: Asia Pacific is considered as the largest market for acrylic sheets globally due to high penetration of end-use application markets such as electronics, automotive, construction activities, hospitality and more.


• Latin America: Key countries involved in displaying stupendous growth projections in Latin America includes Brazil and Mexico. These countries are emerging hubs to various automakers that are constantly striving to develop innovative products to sustain in the market, considered as hub for sustainable commercial infrastructure development projects, and more.


• Middle East & Africa: Countries across Middle East & Africa are increasing investing in commercial project development, residential infrastructure development, industrial development and more. These construction activities have been pulling in huge demand for acrylic sheets and various other plastic materials.