Acrylic Sheets Market Research Report Information By Type (Extruded acrylic sheets, Cast acrylic sheets) Application (Construction and Architecture, Healthcare and Medical, Hospitality, Retail, Automotive and Transportation, Food and Beverages, Electrical and Electronics, Sanitary ware) Forecast till 2030

Acrylic Sheet Market Overview

Market valuation of acrylic sheet was recorded at USD 3,210 million at the end of 2020 and is expected to reach an approximate evaluation of USD 5,279.52 million by the end of the review period. The global Acrylic Sheet Market is positioned to register a CAGR of 5.00%, which projects moderate and consistent growth.

Acrylic sheets encompass a variety of raw materials. These include vinyl acetate or methyl acetate. All acrylic sheets are made out of man-made fibers and materials. All of these are made from a polymer called polyacrylonitrile.Because these materials are not friendly for the environment they are subjected to stringent regulations regarding their manufacture and usage.

COVID-19 Impact on the Acrylic Sheet Market

The outbreak of Covid-19 has had severe impact on all ecosystems of businesses worldwide including manufacturing, distribution, to end-use market movements. Consumers as well as product formulators were taken aback by the pandemic toll on general business protocols and emergence of businesses across the entire value chain. Manufacturers of key petrochemical products went under severe constraints due to lack of availability of feedstock, thereby resulting in lower production of plastic products.

The demand for detergents grew significantly along with the high growth of product flow for surface cleaning applications. As demand for PVA went down for its typical application markets, the growth in the cleaning sector eventually paved the way for higher consumption of PVA in detergent formulations and household surface cleaning agents.

However, with gradually reviving operations by the majority of the industries worldwide, the demand for cleaning and sanitization products eventually increased and is estimated to remain high over the coming years. Increasing consumption of detergents also led to a hike in demand for PVA in the global market space. Residential cleaning product demand also took a hit during 2020, wherein most of the chemical manufacturing companies expanded into chemical manufacturing such as PVA for cleaning applications.

Packaged food & beverage sector also reflected a spike in terms of acrylic sheet demand due to high demand for packaged, hygienic food materials from e-commerce platforms. This was majorly backed up by increased government regulations with respect to home quarantine and non-mobility protocols worldwide. Lower movement of citizens led to increased demand of food products and other essential commodities at doorstep, which directly led to higher demand for acrylic sheet-based food packaging solutions worldwide during the pandemic.

Market Dynamics

Drivers

• Increasing demand for manufacturing of various everyday commercial goods : as compared to glass, acrylic sheets offer several advantages, such as higher durability, lighter in weight, and high cost-effectiveness. As a result, manufacturers have been preferring acrylic sheets over glass for various everyday products used in businesses and households. Acrylic sheets are increasingly being used for various conventional, including production of windows, wall partitions, lighting fixtures, acrylic mirrors, shelves, pole signs, screen protectors for tv screens, as well as unconventional applications, including handcrafts, aquariums, and helmets

Restraints

• Volatility in prices of raw materials : Acrylic sheets are made from raw materials such as methyl methacrylate. The first step in making acrylic sheets is the polymerization of the raw materials, resulting in a product called a monomer. Polymethyl methacrylate and other acrylic plastic polymers are formed using methyl methacrylate monomer. Acrylic sheets are primarily petroleum-based thermoplastic products. Thus, the fluctuations in the crude oil prices are likely to have a corresponding impact on the price of acrylic sheets, which are made by bulk polymerization process.

Opportunity

• Environment-friendly acryclic sheets : Unlike traditional acrylic sheets which are made from virgin oil-based raw materials. The environment-friendly acrylic sheets are wholly or partially produced using recycled industrial materials. These acrylic sheets are also transparent and resistant to ultraviolet (UV) rays, similar to their traditional counterparts. Moreover, these can be reused and recycled multiple times. Green Cast and Ecocrylic are some of the examples of environment-friendly acrylic sheets. Most of these environment-friendly recyclable acrylic sheets are produced using extrusion of industrial and commercial waste, such as LCD screens.

Challenges

• Environmental impact and recyclability issue : acrylic sheets cause considerable environmental impact, including environmental acidification, eutrophication, carcinogenic effects, environmental toxicity, amongst others. For the production of one kg of polymethyl methacrylate (PMMA), nearly two kg of crude oil is used while releasing roughly 5.5 kg of carbon dioxide in the environment.

Segmentation

Acrylic Sheet Market By Type

• Extruded acrylic sheets


• Cast acrylic sheets

Acrylic Sheet Market By Application

• Construction & architecture
  
  
  
  • Commercial
  
  
  • Residential
  
  
  • Industrial
  
  
  
  


• Healthcare & medical
  
  
  
  • Hospitality
  
  
  • Retail
  
  
  
  


• Automotive & transportation
  
  
  
  • Electric vehicles
  
  
  • Gas powered vehicles
  
  
  • others
  
  
  
  


• Food & beverages


• Electrical & electronics
  
  
  
  • Visual communication
  
  
  • Others
  
  
  
  


• Sanitary ware
  
  
  
  • Commercial
  
  
  • Residential
  
  
  • Industrial
  
  
  • Marine
  
  
  
  


• Aerospace & defense
  
  
  
  • Glazing
  
  
  • Windows
  
  
  • Partitions
  
  
  • Others
  
  
  
  


• Others

Acrylic Sheet Market By Region

• North America


• Europe


• Asia-Pacific


• Latin America


• Middle East and Africa

Regional Analysis

The global acrylic sheet market is distinguished by emerging demand of the product from a range of application markets. Asia Pacific emerged to be the largest market in the ecosystem due to increased penetration of plastic formulators across key countries of the region including China, Japan, and India. Further, increasing demand of acrylic sheets from established end-use markets in the region such as automakers, construction participants, electronics producers and more is estimated to be established key route for market penetration of acrylic sheets in the region.

Europe and North America were the other key regions reflecting high-level of market penetration and market innovation. The end-use markets are rapidly growing across these regions, however, increasing government involvement is one of the factors restraining acrylic sheet market growth across these regions. Several government agencies as well as environmental agencies are highly observant of the utilization, movement, and disposal of plastics and plastic components in these regions.

Key countries involved in displaying stupendous growth projections in Latin America includes Brazil and Mexico. These countries are emerging hubs to various automakers that are constantly striving to develop innovative products to sustain in the acrylic sheet market, considered as hub for sustainable commercial infrastructure development projects, and more.

Countries across Middle East & Africa are increasing investing in commercial project development, residential infrastructure development, industrial development and more. These construction activities have been pulling in huge demand for acrylic sheets and various other plastic materials.

Competitive Landscape

The competitive landscape offers an analysis of the key developments by the companies operating in the market worldwide. Key companies operating in the global ecosystem are highly innovative in terms of product innovation, product positioning, research & development activities, expansion strategies and more.

Companies such as Aristech Surfaces LLC, LUCITE INTERNATIONAL, Evonik Industries AG, 3A Composites GmbH, Arkema, Elastin International Corp., Asia Poly Industrial Sdn Bhd, Ray Chung Acrylic Enterprise Co., Ltd., Plaskolite, JuMei Acrylic, Gevacril, PT Margacipta Wirasentosa, Shen Chuen Acrylic (Ningbo) Co., Ltd., and Sun Acrylam Private Limited are among the key market competitors based on their market reach and accessibility. The overall market pertaining to acrylic sheets is highly fragmented in nature and thereby encompasses a lot of key companies that are recognized as market leaders, industry innovators, and emerging participants I the marketspace.

Some of the key developments include

• In June 2021, Aristech Surfaces LLC was acquired by Trinseo for USD 445 Million. The deal emerged on accounts of Falcon Private Holdings. This was to expand Trinseo’s polymer resins and plastic sheets business portfolio with existing workforce and management of Aristech Surfaces LLC with a valuation of USD 1.4 Billion globally.


• In March 2018, As of 2018, Evonik Industries had set up a wholly owned subsidiary in Africa without any joint venture. The specialty plastics formulator is a result of Ampa Plastics Group liquidation in 2017 and the currently established firm works towards improvising and delivering high-quality acrylic sheet products across MEA region.


• In June 2018, Elastin is a customer-focused company focuses on the development of high-quality products to increase its customer base in the market. In addition, the company is actively participating in the virtual events, conferences and exhibitions to strengthen its business growth. For instance in 2018, Elastin International Corp. participated in the Taipei International Exhibition (China).

Report Overview

The Acrylic Sheet market is segmented by type, application, and region in the report. In terms of insights, this report has focused on various levels of analysis such as market dynamics, value chain analysis, Porter's five forces, competitive landscape, and company profiles—all of which comprise and discuss views on the global Acrylic Sheetsemerging and fast-growing segments, regions, and countries.

Objectives of the Study

• To get a comprehensive overview of the global Acrylic Sheets Market


• To get wide-ranging information about the key factors driving the market and market opportunities


• To gain information regarding the key players in the industry, their product portfolio, strategies, and key developments


• To gain insights about the key country/region in which the market is growing

Intended Audience

• Government, associations, and industrial associations


• Investors and trade experts


• Consulting in chemical experts


• Personal care industries


• Automobile industries