Acrylic Sheets Market Size and Share to Surpass $4.91 billion by 2029| Exactitude Consultancy

Acrylic sheets market

Acrylic sheets market size valued at USD 3.1 billion in 2020 and is projected to reach USD 4.91 billion by 2029, growing at a CAGR of 5.25% from 2022 to 2029.

LUTON, BEDFORDSHIRE, UNITED KINGDOM, November 21, 2023 /EINPresswire.com/ -- The global acrylic sheets market is experiencing substantial growth, primarily driven by two key factors. Firstly, the construction and building industry's steady expansion, especially in emerging economies, is fueling the demand for acrylic sheets for applications such as windows, doors, and skylights due to their durability and versatility. Additionally, the increasing adoption of acrylic sheets in the automotive sector for purposes like windshields and interior components contributes to market growth.

Acrylic sheets market size was valued at USD 3.1 billion in 2020 and is projected to reach USD 4.91 billion by 2029, growing at a CAGR of 5.25% from 2022 to 2029.

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Recent Key Highlights:
• Gevacril is a global leading manufacturer of semi-finished cast and extruded acrylic and polycarbonate items. Gevacril cast and extruded tubes, rods, bars, profiles, accessories in PMMA and PC and exports more than 75% of the production capacity to more than 50 countries in the world.
• Arkema S.A. is a specialty chemicals and advanced materials company headquartered in Colombes, near Paris, France. Created in 2004.
• Spartech LLC manufactures plastic packaging products. The Company specialty polymer formulations, plastic sheet, rigid barrier packaging, and specialty cast acrylics products.

Acrylic Sheets Key Market Players:
Gevacril, Arkema, BASF SE, Evonik Industries AG, 3A Composites Holding AG, Mitsubishi Chemical Corporation, PT Astari Niagara Internasional, ARISTECH SURFACES LLC, PyraSied Xtreme Acrylic, Spartech LLC, MADREPERLA S.p.a., Ray Chung Acrylic Enterprise Co.Ltd., Acrilex Inc., MARGACIPTA WIRASENTOSA, Polyplastics Co. Ltd. and Limacryl

Acrylic Sheets Market Trends

Acrylic sheets are widely utilised in a range of applications, from substituting glass in windows to structural gazing, due to their impact resilience and high flexibility. Due to the growing demand for lightweight components and materials for the production of automobile parts, these are also being employed in the automotive industry. Increased spending on outdoor advertising, which includes signs boards, large-screen LCDs, POP displays, and other applications, is fuelling market expansion. Acrylic sheets have also been used as a glass substitute in skylights, aquariums, mirrors, barriers, and shelf panels, among other things. Furthermore, rising environmental concerns and a paradigm change toward a more sustainable growth model have prompted the construction of green buildings, which has influenced the growth curve of the market.

Cast acrylic sheets are commonly used instead of glass for various industrial and medical equipment due to specific qualities such as high strength, lightweight, anti-fogging property, and clarity. This is one of the primary drivers of the market for cast acrylic sheets. Furthermore, aviation industries are striving to expand their businesses in emerging countries like China and India, where cast acrylic sheets are employed to give aircraft’ outer materials a lightweight and adequate strength.

Key Market Segments: Acrylic Sheet Market

Acrylic Sheet Market By Type, 2020-2029, (USD Million) (Kilotons)
• Cell
• Continuous

Acrylic Sheet Market By Application, 2020-2029, (USD Million) (Kilotons)
• Sanitary Ware
• Signage & Display
• Architecture & Interior Design
• Transportation
• Medical
• Food & Catering

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Regional Analysis:
The largest and fastest-growing market for acrylic sheet is Asia Pacific. APAC’s most important markets are China, India, and Japan, which together account for more than half of the region’s market share. In applications such as medical, food & catering, sanitaryware, architectural & interior design, and signage & display, rising per capita income, rising purchasing power, and increasing urbanisation are likely to drive the acrylic sheet market. Significant retail expansion and rising advertising spending in India, Indonesia, China, and other countries are expected to drive the signs and display application segment market in APAC.

Here are some key opportunities within this market:
1. Growing Construction Industry:
• The construction industry is a significant consumer of acrylic sheets for applications such as windows, skylights, and architectural features. As the construction industry grows, so does the demand for acrylic sheets.
2. Increased Demand in Automotive Sector:
• Acrylic sheets are used in the automotive sector for applications like windshields, headlamp covers, and interior components. With the continual evolution of automotive design and technology, there is an opportunity for increased use of acrylic sheets in this sector.
3. Rising Popularity in Signage and Display:
• Acrylic sheets are widely used in the signage and display industry due to their clarity, durability, and ease of customization. The increasing demand for visually appealing and durable signage creates opportunities for acrylic sheet manufacturers.

Market Restraints
Standard glass is less expensive to buy than acrylic sheet and is easier to recycle. This aspect is expected to hinder the market for acrylic sheets. Furthermore, when comparing acrylic sheet and glass that provide similar benefits, the glass alternative will be less expensive and easier to select by the consumer, lowering acrylic sheet sales in the market. Glass can be recycled several times for a low cost, however acrylic sheet is more difficult to recycle because it is a non-biodegradable substance and thus more costly to recycle. This is another potential restraint for the acrylic sheets market.

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Key Benefits for Industry Participants & Stakeholders:
-Industry drivers, restraints, and opportunities covered in the study
-Neutral perspective on the market performance
-Recent industry trends and developments
-Competitive landscape & strategies of key players
-Potential & niche segments and regions exhibiting promising growth covered
-Historical, current, and projected market size, in terms of value
-In-depth analysis of the Acrylic Sheets Market

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