Polycarbonate Sheets Market Size Forecast to Reach $3.22 Billion by 2026

Increasing Demand From Building and Construction Driving the Growth of Polycarbonate Sheets Market.

Hyderabad, India – July 5, 2021 /MarketersMedia/ —

Polycarbonate Sheets Market size is forecast to reach $3.22 billion by 2026, after growing at a CAGR of 5.3% during 2021-2026. The demand for polycarbonate sheet is increasing from building construction, electrical & electronics, automotive, aircraft, and more due to excellent flexibility. Carbonates have a broad range of outstanding properties including temperature resistance, impact resistance and optical properties, which posted polycarbonates between commodity plastics and engineering plastics. Polycarbonate sheet is widely used for panel roofing because it allows light to inter with extreme optical clarity, flammability resistance, and heat resistance. Thus, increasing demand for residential building is creating growth for polycarbonate sheet. For instance, according to the “India Brand Equity Foundation (IBEF)”, Under Pradhan Mantri Awasa Yojana (Urban), in India 1.12 crore houses have been sanctioned in urban areas, which is creating demand for polycarbonate sheets. Also, India plans to spend US$ 1.4 trillion on infrastructure by 2025.

Covid-19 Impact

Impacts of COVID 19 on the infrastructure and construction sector in developing countries have been extensive and damaging. According to the “Associated General Contractors of America (AGC)”, private and public non-residential spending declined by a combined 1.6 percent in august 2020. Particularly public construction spending declined by 1.7 % in September 2020. However, all construction projects were held in lockdown, which reducing demand for polycarbonate sheets.

Polycarbonate Sheets Market Segment Analysis – By Type

Corrugated multiwall sheet held the largest share of more than 30% in market of polycarbonate sheets in 2020. Corrugated sheet used as primarily in construction industry due to industrial structural roofing and siding. This sheet is widely used in agriculture greenhouse, roof lights, skylights, and residential roofing. Corrugated multiwall sheets have excellent properties such as transparency, UV resistant, lighter weight, and easy installation. These are help to enhance the look of polycarbonate sheet and also enhance antistatic functions. Hence, because of easy installation of corrugated sheet and protect with UV rays is boost the growth of the polycarbonate sheet market.

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Polycarbonate Sheets Market Segment Analysis – By End Use Industry

Electronical and electronics industry driven the polycarbonate sheets market in 2020 with a share of more than 25%, due to their high dimensional stability polycarbonate sheets are suitable for the manufacturing electronic equipment such as CDs, smart phone, LEDs, electronics devices, DVDs and more. According to “India Brand Equity Foundation (IBEF)”, the exportation of automobile reached 4.77 million vehicles in FY20 and growing at a CAGR of 6.94% during FY16-FY20. However, because of lightweight this sheet allows virtually possibilities to design OEMs and also increase efficiency, easy installation and reduce overall transportation costs.

Polycarbonate Sheets Market Segment Analysis – By Geography

Asia Pacific dominated the polycarbonate sheets market in 2020 with a share of more than 40%, due to increasing R&D activities related with polycarbonate sheet and increasing demand form end use industries such as automotive, building & construction, medical sector, and more in the region. In January 2018, “SABIC” launched “LEXAN CXT” resin, a new line of high-clarity, high-heat, and injection moldable polycarbonate copolymer resin used in the optical electronics, consumer & industrial, and healthcare industries applications. With this launch, the company has strengthened its portfolio of polycarbonate sheets.

Polycarbonate Sheets Market Drivers

Increasing Demand from Building and Construction

Increase Demand of Polycarbonate Sheet for ID Cards Printing

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Polycarbonate Sheets Market Challenges

Decline in Automotive Industry

Polycarbonate sheets are excellent lighter sheet thus these are used in vehicles for increasing fuel efficiency. But due to COVID-19 the automotive industry has degrowth in production of vehicles, which can be hamper the market growth of polycarbonate sheet. For instance, according to the “International Organization of Motor Vehicle Manufacturers (OICA)”, the global automotive production fell by 16% in 2020. Also, United States saw automotive production drop by 19% combined 8,822,399 cars and commercial vehicles in 2020.

Fluctuating Raw Material Prices

In recent time, the oil market is very slow; hence the fluctuation of crude oil prices can hamper the commodity plastic market as well as polycarbonate sheets market. For instance, according to “BP statistics” global oil production fell slightly by 60,000 b/d with sharp declines in Iran (-1.3 million b/d), Venezuela (-560,000 b/d) and Saudi Arabia (-430,000 b/d), these are highest oil production.

Polycarbonate Sheets Market Landscape

Major players in the Polycarbonate Sheets Market are SABIC Innovative Plastics, Plazit Polygal, Samyand Kasei, 3A Composites, Arla Plast AB, Chi Mei Corporation, LG Chem Ltd., UNIGEL, Lotte Chemical, Teijin Ltd., Takaroku Shoji Company Limited, and among others.

Key Takeaways

Asia-Pacific dominates the polycarbonate sheets market owing to increasing demand for transparent sheet in from various industries such as construction, automobile, and greenhouse.

According to “India Brand Equity Foundation (IBEF)”, In FY19, 10,855 km of highways were constructed. Thus, the Indian Government aims to construct 65,000 km of national highways worth at Rs 5.35 lakh crore (US$ 741.51 billion) by 2022.

Increasing adoption of polycarbonate sheets in construction industry due to its durability, strength, and ease to fit without and cracking will increase the market demand for polycarbonate sheets market.

Increasing usage of sheets in residential sector for panel roofing will exhibit growth of the polycarbonate sheets market during this forecast period.

Related Reports:

A. Global Polycarbonate Sheets and Films Market
https://www.industryarc.com/Research/Global-Polycarbonate-Sheets-Films-Market-Research-502858

B. Polycarbonate Resin Market
https://www.industryarc.com/Report/1257/polycarbonate-resin-market-analysis.html

For more Chemicals and Materials Market reports, please click here

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