Cast Acrylic Sheets Market Research Report - Global Forecast till 2030

Cast Acrylic Sheets Market: Information by Type (Cell Cast Acrylic Sheet, Continuous Cast Acrylic Sheet, Extruded Acrylic Sheet), Application (Signage & Display, Architecture & Interior Design, Automotive & Transportation), Region—Forecast till 2030

ID: MRFR/CnM/6327-HCR | February 2021 | Region: Global | 140 pages

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Cast Acrylic Sheets Market Overview:


The global cast acrylic sheets market is expected to register a CAGR of 5.9% to reach USD 4.5 billion by 2023.


The cast acrylic sheets, as a part of the market products and services, possess a high molecular weight and are further, known to be rigid, lightweight, easy to handle, cut, and cement. The acrylic sheets are easy to shape, fabricate, and give the final form. These sheets respond to various temperature changes by indulging in expanding or contracting at a faster rate in comparison to glass. Its features are more flexible than glass and other building materials put to use.


COVID 19 Analysis


The report proposes that the cast acrylic sheets market size has been influenced and negatively hampered by the rising cases and seriousness of the novel Covid as time passes. The pandemic is an emerging healthcare emergency that is significantly affecting the creation, manufacturing, and production capacity of the market players to deliver according to the needs and demands put forward by the global target audience. The obnoxious spread of the pandemic has additionally known to have affected the interest size of the market as it has prompted an immense change in the way people carry out their daily activities, conduct their lifestyle, and demand competitive market goods and services in the global market premises. Also, the imposition of lockdown amongst other functional restraints and issues is further, enhancing the challenges for the market that will hamper the global market equilibrium and disrupt the market’s demand and supply chain mechanism.


The rising cases of coronavirus disease have constrained the worldwide states to get their hands and speculations on reliable market resources and put something similar in terms of product portfolios for the advancement of the growth patterns of the cast acrylic sheets market and global administrations. Likewise, the global market players are also settling on consolidations and acquisitions to play a major role in the development of the worldwide market in the domestic regions and international market places.


Competitive Landscape


The cast acrylic sheets market is witnessing the emergence of major market competition during the forecast period based on the developments undertaken by the following companies:



  • Asia Poly Industrial Sdn Bhd (Malaysia)

  • Astari Niagara International (Indonesia)

  • SCG Chemicals Co., Ltd (Thailand)

  • Pyrasied Xtreme Acrylic (Netherlands)


Market Dynamics


Drivers


The cast acrylic sheets market products offer superior optical clarity, better machinability, and color compatibility that have resulted in cell cast acrylic sheets emerging as the preferred process type. This is also emerging as the preferred choice over continuous cell process types as it is being recognized to provide better surface strength, and the market manufacturers bear less cost in setting up the production plants. These factors are leading to the rapid growth of the cast acrylic sheets market during the forecast period that will be ending in 2028.


 Also, the cell cast acrylic sheet type is predominantly gaining momentum for its use in the industry as it provides a higher degree of optical clarity, greater surface hardness, along a higher degree of molecular weight. Owing to the higher molecular weight, the market products are cleaner to cut, drill, and further, rout. The customized colors and addition of special effects are easily available and possible in cell cast acrylic sheets.


Restraints


However, the cast acrylic sheets market trends are witnessing the emergence of certain market scenarios that might restrain the market from growing during the forecast period that will be ending in 2028. The arrival of the novel coronavirus pandemic has hampered the working of the target audience which is further, affecting their ability to purchase the market products and also having an impact on their rising incomes. The market products and services need to overcome these restraints to grow as per the predicted trends for the ongoing forecast period of 2021-2028.


Technology Analysis


The cast acrylic sheets market share is witnessing the increased level of urbanization that is expected to create growth opportunities for the manufacturers and producers of cast acrylic sheets. Urbanization has led to increased use of cast acrylic sheets in various market industries and end-users like automotive, vehicles, architecture, and visual communications amongst others like the retail industries. Additionally, the enhancement of forwarding integration by the raw material and resource suppliers is also expected to create lucrative growth opportunities for the prominent market players that are operating in the global cast acrylic sheets market during the forecast period of 2021-2028.


Study Objectives



  • The report examines the premise of the worldwide market that capacities as segments. The report further examines the development potential and the capacity of these market segments to meet the rising requirements of the interest groups and subsequently, extend at an impressive rate before the finish of the global forecast period in 2028.

  • The report covers the useful parts of the market dependent on which the business chiefs and market specialists have anticipated the pace of worldwide market development and the attainable market income before the finish of the forecast period in 2028. The report likewise covers the market elements like development drivers and openings alongside the potential difficulties that may limit the market from developing.

  • The report likewise comprehends the motivation to read the rising contest for speculations and market developments as joint endeavors, coordinated efforts, consolidations, and acquisitions. The report examines the new improvements that have positive attributes for the market.


Global Cast Acrylic Sheets Market, by Type2018 (%)


Source: MRFR Analysis


Segment Overview


The cast acrylic sheets industry has been dwelling during the forecast period of 2021-2028 owing to the excellent performance that has been recorded by the functioning of the market segments in various global locations. The market segments that have been catering to the rising needs of the target audience are mentioned below:


Based on Process Type:


The cast acrylic sheets market includes cell cast acrylic sheets and continuous cast acrylic sheets.


Based on Application


The cast acrylic sheets market includes a series of applications that are inclusive of Signage & display, Sanitaryware, Architecture & Interior Design, Transportation, Medical, and others like Food and Catering.


Based on the Region:


The cast acrylic sheets market is functional in regions like North America, the European countries, the APAC region, the Middle East & Africa, and South America.


Regional Analysis


The cast acrylic sheets market growth is witnessing the emergence of the APAC region in the global market premises. The Asia-Pacific cast acrylic sheets market is known to be accounted for the largest market share during the historic forecast period that ended in 2019. The rising demand for aesthetic architecture and growing constructional activities are the major factors that are expected to fuel the growth of the regional APAC market. The regional APAC market is likely to witness high growth during the forecast period.


The North American market was recorded to hold the second-largest global cast acrylic sheets market share in 2019. The rising degree of sale of automobiles and vehicles is likely to contribute to the global growth of the cast acrylic sheets market in the North American region.


Recent Developments



  • The cast acrylic sheets market size is witnessing the emergence of a high degree of demand for display screens, cover panels, alongside the touchscreens that will help in the large-scale development of the global market segments during the forecast period that will be ending in 2028.

  • The market gives the much-needed push to the use of various designs that can easily be printed over a cast acrylic sheet that helps it to emerge as the best suited for areas like architecture, along with other design applications, amongst others. The rising need for lightweight materials in automotive followed by the development of high transportation services and infrastructure is likely to help the market bloom at an excellent rate during the forecast period of 2021-2028.

  • The prominent players of the market are increasing their investment that will give rise to the research and development initiatives and help the global market players introduce a huge range of product advancements in the name of innovative portfolios for the forecast period that will be ending in 2028.


Report Overview


The cast acrylic sheets market report conducts a deep market analysis to cover the market factors like drivers, opportunities, and challenges that are available for the market during the forecast period. The market report highlights the rising market competition based on the recent developments undertaken by the prominent market players during the period ending in 2028.



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2023: USD 4.5 billion
  • 2030: Significant Value
  •   CAGR   5.9%(2022-2030)
      Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Type, Application
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Mitsubishi Chemical Corporation (Japan), Evonik Industries AG (Germany), Altuglass International Arkema Group (France), 3A Composites GmbH (Germany), Aristech Surfaces LLC (US), MADREPERLA Spa (Italy), Spartech (US), Astari Niagara International (Indonesia), Pyrasied Xtreme Acrylic (Netherlands), Asia Poly Industrial Sdn Bhd (Malaysia), SCG Chemicals Co., Ltd (Thailand), Shanghai Acrylic (Cast) Chemical Corporation (China), Jokema industry Co. Ltd (Taiwan), and Limacryl NV (Belgium)
      Key Market Opportunities   The demand for automobiles and transportation vehicles is rising with the growing population.
      Key Market Drivers   The rising demand for lightweight vehicles, to curb emissions, is expected to drive the growth of the global market.


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    Frequently Asked Questions (FAQ) :

    The global cast acrylic sheets market is expected to reach USD 4.5 BN by 2023.

    Cast Acrylic Sheets Market is expected to register over 5.9% CAGR during the assessment period (2018-2023).

    By type, the cell cast acrylic sheet segment and by applications, the signs & displays segment account for major share in the global cast acrylic sheets market.

    Asia Pacific holds the largest share in the global cast acrylic sheets market, followed by North America and Europe, respectively.

    Evonik Industries AG (Germany), Mitsubishi Chemical Corporation (Japan), Altuglass International Arkema Group (France), Aristech Surfaces LLC (US), 3A Composites GmbH (Germany), MADREPERLA Spa (Italy), Astari Niagara International (Indonesia), Spartech (US), Pyrasied Xtreme Acrylic (Netherlands), SCG Chemicals Co., Ltd (Thailand), Asia Poly Industrial SDN BHD (Malaysia), Shanghai Acrylic(Cast) Chemical Corporation (China), Limacryl NV (Belgium), and Jokema industry Co. Ltd (Taiwan), are some of the major players operating in the cast acrylic sheets market.