Europe Polycarbonate Sheets Market - Segmented by Type, End-user Industry, and Geography - Growth, Trends, and Forecasts (2018 - 2023)
The European polycarbonate sheets market is expected to witness a moderate CAGR during the forecast period, 2018 to 2023. The construction industry accounted for the largest market share, followed by agriculture. The increasing popularity of polycarbonate sheets against conventional materials, such as glass and ceramics, has hugely contributed to the growth of the market.
Increasing Popularity of Polycarbonate
This material used for applications where translucent and transparent solutions are desired is mainly glass. But it has its own drawbacks, such as fragileness, difficulty in installation, and poor thermal efficiency. Polycarbonate sheets are known for addressing all these disadvantages of glass and other plastic materials. The main two advantages of using polycarbonate sheets include thermal insulation and low expertise for the installation. The increasing popularity of polycarbonate sheets, owing to their advantages over other conventional materials (which include glass and other plastics), is expected to drive the market studied during the forecast period.
Automotive Industry is expected to witness fastest Growth
Polycarbonate sheets are used in entryway handles, inner lenses, door handles, headlight bezels, internal focal points, and radiator flame broils. They are considered to be one of the best materials that can be used to enhance the look of automobiles for a stylish and effective appearance. According to OICA, automotive production in Europe rose from 21.1 million units in 2015 to almost 22 million units in 2016. Growing automotive production is expected to drive the polycarbonate sheets market through 2021. This is expected to give an enormous push to the polycarbonate sheets market in the region.
Germany to Witness the significant Growth
The established automotive, aerospace, and electronics industries in the country offer a huge opportunity to the polycarbonate sheets market. Moreover, the slight recovery in construction industry will also contribute to the growth. The aerospace industry in Germany has enjoyed immense growth since the last two decades with revenues more than quadrupling since the mid-90s to cross EUR 37 billion in 2016. The construction sector in Germany recorded a huge growth in the year 2016. The permits for new residential buildings issued in Germany increased by over 20% in the year in 2016 alone. The government issued permits for 380,000 residential buildings in 2016, which is a sharp increase from the 313.000 permit issued in the 2015.
Key Developments in the Market
- August 2017- 3A Composites announced the successful acquisition of Athlone Extrusions Ltd. by its parent company Schweiter Technologies.
- May 2017- Covestro again significantly expanded its capacity to 600,000 metric tons per year. The company reacts to the strong customer demand for polycarbonates in the Asia-Pacific region with this step, which is achieved through debottlenecking of its production lines. The expanded capacity shall be available in 2019.
Major Players -Konson Industrial SA, 3A Composites GmBH, Brett Martin, SABIC, Covestro, DS Smith, and Arla Plast AB, among others.
Reasons to Purchase the Report
- Current and future of Europe Polycarbonate Sheets market in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel).
Customization of the Report
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