Cast Acrylic Sheets Market by Type (Cell, and Continuous), Application (Sanitary Ware, Signage & Display, Architecture & Interior Design, Automotive & Transportation), and Region (APAC, EU, NA, MEA, and SA)- Global Forecast to 2022
“Cast acrylic sheets market is projected to grow at a CAGR of 5.8%, in terms of value, between 2017 and 2022.”
The cast acrylic sheets market size is expected to grow from an estimated USD 3.31 billion in 2017 to reach USD 4.38 billion by 2022, at a CAGR of 5.8% between 2017 and 2022. Cast acrylic sheets are favored for their advantages such as lightweight and high transparency and impact resistance. They are used as a substitute for materials such as glass, ceramic, and wood in sanitary ware, architecture & interior design, and signage & display applications. The growing demand for lightweight materials from the automotive, aerospace, construction, and furniture industries is projected to drive the market for cast acrylic sheets during the forecast period. However, this growth can be affected by the availability of alternatives offering high quality or low costs such as polycarbonate, extruded acrylic sheets, and glass.
“The cell cast acrylic sheet type segment is projected to grow at the highest CAGR between 2017 and 2022.”
Cell cast acrylic sheets provide best optical clarity, greater surface hardness, and higher molecular weight. Due to the high molecular weight, it is cleaner to cut, drill, and rout. Customized colors and special effects are easily available in cell cast acrylic sheets. In addition, investments and cost of equipment used in the production of cell cast acrylic sheets are less than in extruded cast sheets and continuous cast sheets.
“Asia Pacific was the largest market for cast acrylic sheets in 2016.”
APAC is the largest market for cast acrylic sheets, and this trend is expected to continue till 2022. China and India are the key markets in the region, contributing to the majority of the total demand for cast acrylic sheets in the APAC region. Japan and South Korea are the other key markets in the region.
The increase in demand for cast acrylic sheets from the automotive & transportation, architecture & interior design, and sanitary ware industries in APAC can be attributed to continued urbanization and the rising purchasing power of consumers in the region. The focus on reducing the weight of vehicles to increase fuel efficiency and reduce the GHG emissions is driving the use of cast acrylic sheets in the automotive & transportation industry in the region. Increasing advertising spends in countries such as China, India, and Indonesia is estimated to drive the demand for cast acrylic sheets in the signage & display segment.
Extensive primary interviews were conducted to determine and verify the market sizes of various segments and subsegments of the cast acrylic sheets market.
The break-up of primary interviews is given below:
• By Company Type - Tier 1 – 30%, Tier 2 – 43%, and Tier 3 – 27%
• By Designation - C level – 21%, Director level – 23%, and Others – 56%
• By Region - North America – 30%, Europe – 18%, Asia Pacific– 41%, and RoW- 11%
Key companies operating in the cast acrylic sheets market are Altuglas International (France), Aristech Acrylics (US), Evonik (Germany), Mitsubishi Chemical (Japan), and 3A Composites (Germany).
This research report categorizes the cast acrylic sheets market based on type, application, and region. The report includes detailed information regarding major factors such as drivers, restraints, challenges, and opportunities, influencing the growth of the cast acrylic sheets market. A detailed analysis of key industry players has been undertaken to provide insights into their businesses and products & services offered by them. The report also discusses key strategies, such as expansions, mergers & acquisitions, new product developments, and agreements adopted by the leading players to strengthen their position in the cast acrylic sheets market.
Reasons to Buy the Report
The report is expected to help the market leaders/new entrants in this market in the following ways:
1. This report segments the cast acrylic sheets market comprehensively and provides the closest approximations of the sizes for the overall market and its subsegments across different verticals and regions.
2. The report is expected to help stakeholders understand the pulse of the market and provide them information on key market drivers, such as restraints, challenges, and opportunities influencing the growth of the cast acrylic sheets market.
3. This report is expected to help stakeholders understand major competitors in the cast acrylic sheets market and gain insights to enhance their position. The competitive landscape section includes detailed information on expansions, acquisitions, and new product developments in the market.