The global polycarbonate sheets market was approximately US$1.68 bln in 2018 and is expected to reach around US$2.39 bln by 2026, at a CAGR of 4.5% between 2019 and 2026, as per Zion Market Research.
Polycarbonate sheets are durable and lightweight along with possessing transparency. The growth of the global polycarbonate sheets market can be attributed to the worldwide technical advancements across its end-use industries. The global polycarbonate sheets market is driven by automotive, electrical and electronics, and construction industries. These sheets are widely used to manufacture headlights, as they are a better substitute for glass. The extensive polycarbonate sheets usage in the automotive industry is driving the polycarbonate sheets market sheet. These roof panels are primarily made of polycarbonate. Thus, it is a great opportunity that is expected to drive the polycarbonate sheets market in the future. The use of polycarbonate is also increasing in the medical industry to replace expensive resins, which is likely to further boost this market. However, the high risk of environmental degradation and pollution may restrain the polycarbonate sheets market growth globally.
The solid segment is expected to contribute the maximum market share both in terms of revenue and volume. Solid polycarbonate sheets are an excellent substitute to glass and are experiencing increased demand over the last few years.
Building and construction segment is expected to hold the maximum market share both in terms of volume and revenue. Polycarbonate sheets are extensively used in the construction industry for making industrial roofing building systems, industrial construction, greenhouses, and manufacturing safety bars for doors and windows. The building and construction industry is experiencing notable global growth and increasing its applications of polycarbonate sheets for making outbuildings in barns and greenhouses.
The Asia Pacific polycarbonate sheets market is estimated to contribute the maximum share in terms of both revenue and volume globally over the forecast time period. This can be attributed to the presence of several automobile component manufacturers in China and South Korea and the region’s flourishing construction sector. The increasing demand for better infrastructure, rising use of electronics, and growing manufacturing rate of automobile components across the region are also expected to drive the region’s polycarbonate sheets market in the future. The European polycarbonate sheets market has shown substantial growth in recent years, owing to the growing use of solid polycarbonate. Europe holds the second spot of the global polycarbonate sheets market. High impact strength, great elasticity, and high functionality at a wide range of temperatures of polycarbonate sheets will positively influence the polycarbonate sheets market in Europe. North America is likely to hold a major market share of the global polycarbonate sheets market over the forecast timeframe. The rise in the demand for heat resistant, better tensile strength, and high resistivity toward corrosion materials is a major factor expected to boost the polycarbonate sheets market growth. The U.S. and Canada are major countries that will contribute to the North American polycarbonate sheets market in the years ahead. The Latin American polycarbonate sheets market is expected to witness moderate growth over the forecast time period, owing to the growing polycarbonate sheets demand from the Brazilian automotive sector. The flourishing telecom industry in Latin America is fueling electronics and smartphone market, which is expected to subsequently aid the region’s polycarbonate sheets market growth in the future.