The report includes forecasts and analyses for the acrylic sheet market on a global and regional level. The study provides historical data from 2015 to 2018, as well as a forecast for the period 2019 to 2025, based on volume (in kilotons) and revenue (in US dollars). The research includes drivers and restraints for the acrylic sheet market, as well as the impact they have on demand over the forecast period. Additionally, the report includes a study of opportunities and various trends in the acrylic sheet market on a global as well as regional level.
According to the report, the global demand for acrylic sheet was valued at approximately USD 5.01 billion in 2018 and is expected to generate revenue of approximately USD 7.15 billion by the end of 2025, growing at a compound annual growth rate (CAGR) of approximately 5.2% between 2019 and 2025.
Acrylic is a plastic that is composed of two or more derivatives of polymethyl methacrylate acrylic or acrylic acid. Acrylics are widely used in a variety of industries, including automotive, electronics, construction, and medicine, because of their versatile properties such as strength, weather resistance, clarity, and flexible functions. Acrylic sheet can be translucent, opaque, colored, or transparent, with varying degrees of heat resistance, light transmission, and other properties. A variety of coatings can be applied to an acrylic sheet to improve its heat resistance, scratch resistance, solar reflectivity, and glare reduction. Various types of acrylic sheets are available on the market to meet the needs of different consumers, including different levels of heat resistance capacity, release capacity, and flow rates.
Anti reflective acrylic is designed to reduce glare and reflection through the application of a matte coating. It provides a glare-free view from any angle while retaining the same physical characteristics as standard acrylic sheets. As a result, the non-glare acrylic sheet provides the same clarity and saturation of color as when viewing art photographs in galleries.
The increasing use of acrylic sheets in the construction industry is expected to be one of the primary factors driving the growth of this market. Furthermore, at the present time, acrylic sheet is widely used for the purpose of furniture and interior design, as well as in the automotive and medical industries. Furthermore, infrastructure development in emerging markets is expected to have a positive impact on the market in the near future. The acrylic sheet's easy molding property allows it to be shaped into any shape that is required with high heat. As a result, the demand for acrylic sheets is expected to increase, thereby boosting the market's growth. Europe has seen an increase in the use of noise and vibration control materials in automobiles, as well as an increase in the volume of automobile production. This is likely to lead to an increase in the consumption of acrylic sheet. However, the fluctuating prices of raw materials, which are used to manufacture acrylic sheet, may hinder the market's expansion in the future. However, it is anticipated that the growing use of acrylic sheet in the automotive industry will provide new growth opportunities for the market.
The global acrylic sheet market is segmented on the basis of type and application. The type segment is made up of an extruded acrylic sheet and a cast acrylic sheet. The cast acrylic sheet segment dominated the market in 2018, and it is expected to maintain its dominance throughout the forecast period. The segment of extruded acrylic sheet, on the other hand, is expected to grow at the fastest rate over the next few years. The market is segmented based on application into architecture constructions, furniture design, visual communication retail, automotive transport, electronics energy, sanitary medical, and others. Architecture and construction accounted for a significant portion of the market in 2018, and the automotive and transportation segment is expected to grow at the fastest rate during the forecast period.
The Asia Pacific region currently dominates the global acrylic sheet market, and it is expected to maintain its dominance throughout the forecast period. The construction industry accounts for the largest share of the market in the Asia Pacific region, resulting in increased demand for acrylic sheet.
Among the leading companies operating in the global acrylic sheet market are Mitsubishi Rayon, Evonik, Polycasa, Taixing Donchamp, Unigel Group, Plaskolite, Shen Chuen Acrylic, Raychung Acrylic, Guang Shun Plastic, Elastin, Altuglas Arkema, and GARY Acrylic Xishun, among others. The key players in the acrylic sheet market are primarily focused on product innovation and market expansion.