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The acrylic sheets market size is forecast to increase by USD 1.7 billion, at a CAGR of 5.98% between 2023 and 2028. The market's expansion is underpinned by several key factors such as the surge in demand for acrylic sheets within the automotive sector, driven by their versatile applications and aesthetic appeal. The growth of the real estate and construction industry fuels the need for this material in architectural projects, interior design, and building facades. Additionally, the Asia-Pacific (APAC) region's increasing demand for this material further propels market growth, driven by rapid urbanization and infrastructure development. These factors collectively contribute to the market's upward trajectory, highlighting diverse uses across industries and their pivotal role in meeting evolving consumer needs and industry standards.
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The Market is driven by the inherent qualities of Polymethyl methacrylate (PMMA), including being Lightweight, Durable, and offering excellent Transparency and UV resistance. A rising trend is the demand for customizable options such as different Thicknesses and Colors, catering to diverse design needs in Construction & Architecture and Furniture & Interiors. Challenges include ensuring consistent Surface finish and addressing Chemical Resistance concerns. However, the market continues to grow due to the increasing focus on Thermal Insulation, Energy Efficiency, and Architectural Applications across various sectors.
One of the key factors driving the market growth is the increasing demand for acrylic sheets in the automotive industry. There is a significant application of acrylic sheets in the automotive industry for different parts and components such as light covers, topcoats, and windshields. The main feature of this material is that they are lightweight and have low-stress birefringence.
Moreover, the design flexibility is another significant feature of this material which makes them ideal for the automotive industry. There is an increasing adoption of these sheets when compared to thermoplastics and polycarbonates as these sheets exhibit superior gloss and are used to enhance the appearance of vehicles. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.
A key factor shaping the market growth is the rising demand for signage and displays. One of the main application segments that is expected to have significant growth is the signage and display application segment. There is an increasing adoption of signage and displays especially for retailing and merchandising and are suitable for advertising in retail stores, airports, and hotel lobbies.
Moreover, there is a wide availability of these sheets in various ranges of colors, designs, and optical clarity. The main advantage of these sheets which fuels their adoption is their cost-effectiveness and it is lighter than polycarbonate and glass. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.
Fluctuating crude oil prices are one of the key challenges hindering the market growth. Acrylic is essentially a strong, durable polymer that is widely used as a plastic across various applications. However, the price volatility of several raw materials that are required to manufacture this material due to fluctuations in crude oil prices is negatively impacting the market.
Moreover, such fluctuations in crude oil prices can significantly impact the stakeholders in the acrylic acid, acrylic acid derivatives, and cast markets. In addition, it adds to the overall manufacturing cost of this material forcing the market players to adopt several cost-cutting strategies. Hence, such factors can hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovatorâs stage to the laggardâs stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Elastin International Corp: The company offers acrylic sheets such as Clear Acrylic Sheet, Colored Acrylic Sheet and Cloth Acrylic Sheet.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The cell cast acrylic sheets segment is estimated to witness significant growth during the forecast period. The manufacturing process of the cell cast this material includes mixing acrylic liquid ingredients in a mold or between two glass plates. The main advantage of this segment is that they offer lightweight and high thermal stability and optical clarity. In addition, the manufacturing process includes the extensive use of methyl methacrylate syrup between two sheets of high-quality glass which is polymerized in batches in specially developed ovens and water baths.
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The cell cast acrylic sheets segment was the largest and was valued at USD 2.98 billion in 2018. There is an increasing adoption of cell cast segment in fabricated plaques and awards, store displays, skylights, furniture, and picture frames due to their exceptional properties. Furthermore, this segment provides high surface hardness and can be machined cleaner than continuous cast. There is a growing adoption of this material for various applications including interior architecture and design, accessories, as well as the automotive and transportation sectors make use of this material. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 42% to the growth of the global market during the forecast period. Technavioâs analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main consumers of this material in APAC include countries such as China, India, Japan, Malaysia, Thailand, Indonesia, and Vietnam. China is one of the significant contributors to the growth of the market in APAC due to its position as the top producer of automobiles globally and other acrylic sheet application industries including industrial, commercial, and residential.
In addition, the development of several infrastructure-building projects and construction projects in Asia-Pacific countries, especially in countries such as Singapore, Thailand, and Indonesia is expected to significantly contribute to the market growth in the region. For instance, in June 2022, the Japanese government announced a USD 36 billion plan to build new homes and renovate existing homes to make them energy-efficient and earthquake-resistant. Hence, such factors are expected to drive the market growth in the region during the forecast period.
The market research and growth report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The Market is experiencing robust growth driven by various factors. Polymethyl methacrylate (PMMA), commonly known as acrylic, is prized for its Transparency and UV resistance, making it ideal for a range of applications. Its Wearability and Shatterproof qualities, particularly evident in products like Plexiglass, enhance safety and durability. These sheets are utilized in diverse industries like Construction and architecture for Canopies, Interior components, and Architectural glazing due to their Insulating properties and Visual aesthetics. In the automotive segment, this material contribute to Fuel efficiency and Vehicle performance, as seen in Side windows and Headlamp covers for their UV-resistant and Impact Resistance features.
Moreover, this material finds applications in Interactive screens, Display cases, and Aquariums due to its Lightweight material and Color Vibrancy. They also play a role in Solar panels and Transportation infrastructures for their Machinability and Energy Efficiency. In Healthcare & Medical settings, this material is favored for Sanitaryware and Display cases due to its Antimicrobial Properties and Self-Cleaning Capabilities. As the market advances, emphasis is placed on Recyclability, Technology Advancements, and Sustainable Construction, ensuring this material continues to be a versatile and sought-after material across Architecture & interior, Advertising spending, and Automotive Components sectors for their wide-ranging benefits and applications.
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Market Scope |
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Report Coverage |
Details |
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Page number |
162 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.98% |
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Market Growth 2024-2028 |
USD 1.7 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.52 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 42% |
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Key countries |
China, US, India, Germany, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Asia Poly Industrial Sdn Bhd, Chimei Corp., Elastin International Corp., Evonik Industries AG, Foshan Shunde Lunjiao Xishun Plastics Factory, Gevacril Srl, Hyundai Department Store Group Co. Ltd., Jumei Acrylic, Mitsubishi Chemical Group Corp., Palram Industries Ltd, Plaskolite Inc., PT Astari Niagara Internasional, PT. Margacipta Wirasentosa, Ray Chung Acrylic Enterprise Co. Ltd., Reynolds Polymer Technology Inc., Schweiter Technologies AG, Shen Chuen Acrylic Ningbo Co., Ltd., Sumitomo Chemical Co. Ltd., Sun Acrylam Pvt. Ltd., Trinseo PLC, and TroGroup GmbH |
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Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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