According to a new research report titled ‘Polycarbonate Sheet Market (By Application: Building & Construction, Automotive, Packaging, Aerospace & Defense, Agriculture) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026’ by Acumen Research and Consulting.
LOS ANGELES, Jan. 30, 2019 (GLOBE NEWSWIRE) -- The global polycarbonate sheet market size is anticipated to around USD 5.1 billion by 2026, this market is anticipated to grow with 5.2% CAGR during the forecast time period. Continuous inventions in plastic technologies and beginning of cheaper interior furnishings in automobile industry sinking carbon emissions, continue the main polycarbonate sheet market drivers.
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The technically advanced sheets give astounding mix of brightness and consistency. The high-grade products are used extensively to smooth out LEDs for more brilliant environment with no problem areas, subsequently planning best light. Attributable to a few properties, for example, effect and warmth opposition, longer life expectancy, better protection, light dispersion and UV assurance, and simple establishment, the polycarbonate sheet showcase is foreseen to draw in high ventures.
Multinationals are continually improvising their product line to meet the existing necessities in sectors for instance, building and automotive, construction, packaging, and others. This parameter is expected to drive the global market development during the forthcoming.
Rising consumer consciousness concerning use of environment-friendly polycarbonate sheets and plastic waste disposal, in compliance with the governmental regulations, is increasing need for eco-friendly products. Use of eco-friendly products leads to lower emissions thereby ensuring minimal environment degradation. Businesses for instance SABIC are integrated along the value chain from raw materials to finished goods production. This allows the business to diminish raw material procurement cost and supply their goods to industrial, food and beverage, packaging, consumer goods, and laboratory among other end-use industries. Businesses for instance, Chi Mei Corp., DuPont, Idemitsu Kosan Co. Ltd., and others deliver bisphenol A (BPA), an essential ingredient in the industrial process.
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Asia Pacific developed as the leading consumer of polycarbonate sheets in terms of revenue, followed by Europe. The increase in disposable income among consumer base is single of the main parameters for the important need from packaging as well as construction industry. Growing infrastructure expenditure due to the foreign investments paired with government support is advance driving the regional development.
Construction and packaging industries are projected to drive need for inventive products due to their multiple applications and favourable characteristics. These sheets have a massive scope of application in the construction industry due to their interior as well as exterior applications in construction and buildings sector.
Packaging and building and construction sub-segments are observing speedy development in developing economies captures of increasing consumer disposable income and shift in perception about housing.
Increasing consumer consciousness regarding reduced plastic waste disposal has encouraged leading businesses to integration with regional governments to accomplish optimum product characteristics, simultaneously lowering the environmental degradations to generate a sustainable business model.
Lotte Chemicals, SABIC, Covestro, and Teijin businesses among others, with widespread global occurrence dominate the polycarbonate sheet market. Extensive distribution network along with inventive products are some of the main parameters boosting their success.
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The global polycarbonate sheet market is segmented into application and region. On the basis of application, the global polycarbonate sheet market is segmented into building & construction, automotive, packaging, aerospace & defense, and agriculture. On the basis of region the global polycarbonate sheet market is segmented into Latin America, Europe, Asia Pacific, North America, and Middle East & Africa.
On the basis region, the market for polycarbonate sheets has been bifurcated into Latin America, Europe, North America, Asia Pacific, and Middle East and Africa. Asia Pacific captures a majority of the global market share due to speedy industrialization and fast rising economic conditions.
Increasing end-use industries in Asia Pacific, particularly in developing economies such as China, Thailand, India, and Indonesia are driving need for replacement of conventional materials for instance, metal, glass, wood, and others.
Europe and North America signifies relatively saturated polycarbonate sheet market share due to the development of end-use activities, for instance, automotive, construction, and others. Though, profitable opportunities may be presented by packaging industries due to the need for individually packaged consumer goods from small and nuclear families. The reduced energy prices due to the collapse in crude oil prices are expected to drive consumer expenditure. This is the key parameter for the economic recovery of this region.
The key players catering to the global polycarbonate sheet market are Lotte Chemicals, Covestro, Teijin Industries, and SABIC.
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