Polycarbonate Sheets Market Analysis | 2023-2028

Market Insights

The polycarbonate sheets market was estimated at USD 1.7 billion in 2022 and is likely to grow at a CAGR of 5.14% during 2023-2028 to reach USD 2.3 billion in 2028.

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Market Dynamics

Introduction

Polycarbonate sheets are known to be versatile materials that are used in different areas such as food processing, medical equipment, and many others. These sheets are transparent in texture and are extremely tough, along with the property of absorbing minimal moisture. Mainly, these sheets are water-resistant, chemical-resistant, and also flame-retardant.

Polycarbonate also comes up with a number of other benefits, such as being scratch-resistant and it is an excellent insulator, even better than glass. Due to their transparency and other properties, these polycarbonate sheets can be also used in places where glass is needed to be used.

Market Drivers

The major factors driving the growth of the polycarbonate sheets market are:

• Growing Construction Industry: Polycarbonate sheets are widely used in the construction sector due to their unique properties such as high impact resistance, excellent light transmission, and durability. These sheets are utilized in various applications including roofing, glazing, and the construction of greenhouses, conservatories, and skylights. The demand for energy-efficient buildings and the increase in construction activities, especially in emerging markets, are driving the growth of the polycarbonate sheets market.
• Growth in the Electronic & Electrical Industry: Polycarbonate sheets are essential in the production of numerous electronic and electrical components due to their excellent electrical insulating properties, durability, and flame resistance. The rapid expansion of the electronics industry, particularly the growing demand for consumer electronics, is anticipated to increase the demand for polycarbonate sheets.
• Growth in the Automotive Industry: In 2023, global car and commercial vehicle production crossed the mark of 93 million units according to the International Organization of Motor Vehicle Manufacturers (OICA.net). Moreover, Hyundai also projects that the global demand for passenger vehicles will increase at an average annual rate of 1.5% to 2.5% from 2023-2028. Polycarbonate sheets are increasingly used in manufacturing headlamps, mirrors, and various vehicle body parts due to their durability and lightweight properties. The expansion of the automotive industry is expected to significantly boost the polycarbonate sheets market.

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Key Players

Some of the polycarbonate sheet manufacturers are-

• Sabic
• Covestro AG
• Trinseo S.A.
• Teijin Limited
• Mitsubishi Gas Chemical Company, Inc.
• Evonik Industries AG
• Suzhou Omay Optical Materials Co., Ltd.
• Plazit-Polygal Group
• Arla Plast Ab
• 3A Composite

Recent Merger & Acquisition:

In December 2022, Private equity firm Advent International finalized the acquisition of SABIC's polycarbonate sheets business for about $300 million, pending antitrust approval. The purchase was an expansion for Advent's Roehm portfolio, aimed at developing a multi-polymer venture. Barclays acted as a sell-side adviser.

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Type

The polycarbonate market is segmented as solid, multiwall, corrugated, and others. The solid segment held a significant market share in 2022 and is estimated to have the highest growth in the coming five years. This growth can be attributed to the extensive adoption of polycarbonate sheets by end-use industries for various fabrication applications.

By End-Use Industry Type

The market is segmented as building & construction, electrical & electronics, automotive & transportation, and others. The building & construction segment accounted for the largest market share in 2022 and is expected to lead the market during the forecast period. The market is sustained by the high demand for polycarbonate sheets from end-use industries for various construction activities.

Regional Insights

Asia-Pacific dominated the market in 2022 and is expected to be the largest market in the coming five years. It is also estimated to have the highest growth during 2023-28. China and India are the growth engines of the region. Rapid urbanization and high demand from various end-use industries drive the market for polycarbonate sheets in the region.

Europe and North America also offer sizeable growth opportunities in the coming five years. Europe ranks as the second-largest market for polycarbonate sheets, fueled by automotive, electrical & electronics, and building & construction sector demand. The automotive field leads, trailed by electrical & electronics and building & construction industries.

On the other hand, North America presents substantial growth prospects, propelled by automotive, electrical & electronics, and building & construction sector demand for polycarbonate sheets during the forecast period. The leading consumer in North America is the automotive industry, followed by electrical & electronics and building & construction sectors.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects polycarbonate sheets market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The polycarbonate sheets market is segmented into the following categories.

By Type

• Solid
• Multiwall
• Corrugated
• Others

By End-Use Industry Type

• Building & Construction
• Electrical & Electronics
• Automotive & Transportation
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the types by end-use industry type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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