Jan 13, 2022/IndustryNewsGlobal/ 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 is likely to witness an impressive CAGR of 6.1% during the forecast period. The major factor driving the market for cast acrylic sheet is its demand in various end-use industries, owing to its scratch resistant, environment-friendly, and lightweight properties. In addition, the sheet is also safer than glass as it does not shatter, and unlike glass shards, broken cast acrylic sheet pieces are not sharp.
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:
Key players operating in the global Cast Acrylic Sheet market 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
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Cast Acrylic Sheet analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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