The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Cast Acrylic Sheet Market.
It was estimated prior to this unanticipated outbreak that the Cast Acrylic Sheet Market was expected to grow at a CAGR of 6.1% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Acrylic cast sheets are a form of polymethyl methacrylate in which monomer such as, methyl methacrylate is added with initiators and other additives, which then casted into sheets by using static pressure. The sheets can be colored or opaque and are numerously coated for enhancing finishing and solar reflectivity. They have a wide range of applications which include signage, large-screen LCDs, interactive screens, display cases, skylights, furniture, aquariums, mirrors, office stationery, shelf panels, partitions, solar panels, and transportation.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the process type, the market is segmented as cell and continuous cast acrylic sheet. Cell cast acrylic sheet type is likely to be the larger and faster-growing process type during the forecast period. This process type is easier to use, is low labor-intensive, produces better-saturated color, and requires low set-up cost. It is cleaner to cut, drill, and rout owing to its high molecular weight. All these factors are likely to drive the growth of the segment during the forecast period.
Based on the application type, the market is segmented as architecture & interior design, sanitary ware, signage & display, transportation, medical, food & catering, and others. The signage & display application type segment is estimated to be the largest as well as fastest-growing segment, owing to its availability in different colors and strength, during the forecast period. In addition, increasing need for lightweight material in automotive industry, modernization of railway stations, bus stands and airports are the major factors which are likely to drive the demand for cast acrylic sheets.
In terms of region, Asia-Pacific is likely to be the largest and fastest-growing market for cast acrylic sheet. It is estimated that more than half of the regional market’s share is accounted by Japan, China, and India. Rising per capita income, rising purchasing power coupled with the increasing urbanization are expected to drive the cast acrylic sheet market in various industries, such as sanitary ware, food & catering, medical, signage & display, and architecture & interior design.
Key Players:
Some of the major cast acrylic sheet manufacturers are-
- Mitsubishi Chemical Corporation
- Altuglas International
- Evonik Industries AG
- Polyplastic Co. Ltd
- Asia Poly Industrial Sdn Bhd.
- 3A Composites Gmbh
- Aristech Acrylics LLC
- Acrilex Inc.
- Chemical Corporation Pvt. Ltd.
- Spartech Corporation
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