The global polycarbonate panels market 2020 is on track to achieve a growth rate of close to 4.4% over the forecast period (2019-2024), says Market Research Future (MRFR).
Primary Drivers and Main Barriers
The global polycarbonate panels market is all set to expand significantly in the coming years, backed by the surging product application in numerous end-user industries like construction, electronics and automotive. Given the versatile properties of polycarbonate panels, including lightweight, excellent elasticity, high functionality, and high impact strength at varying temperatures, they are finding use across many more industries across the globe. Also, soaring demand for polycarbonate panels in the construction industry can foster market growth in the ensuing years.
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Governments, in almost every region across the world, are actively promoting and expanding their infrastructure, in addition to implementing several reforms as well as regulations in an attempt to boost their real-estate as well as infrastructure. These kinds of reforms are expected to stimulate the growth of the construction industry, which can lead to the expansion of the polycarbonate sheet market size in the near future.
More and more developing countries are coming up with reforms and regulations that help them boost their infrastructure and real estate industries. The market can be presented with a host of growth opportunities during the review period, in the form of rising demand for polycarbonate panels in the medical industry.
Market Segmentation
Type and application are the top segments identified in the MRFR report, and as per which, the polycarbonate panels market has been studied from 2019 to 2024.
The type-based segments in the market include multiwall panels, corrugated panels, and solid panels. The solid panels segment can note moderate growth in the coming years. Solid panels are gaining traction compared to other types in construction of terraces, porticos, roofing sheds and swimming pool areas to induce enhanced physical properties.
With respect to application, the polycarbonate panels market caters to electrical electronics, building construction, automotive, and others. The building construction segment can garner a better growth rate compared to its counterpart, thanks to the increased investment inflow in the construction sector. The expansion of the construction sector has been brought on by the surging population as well as the strong government support. Since a polycarbonate panel is quite lightweight and can resist extreme temperatures, it is used in roofing material in building construction applications. Also, polycarbonate roofing is highly preferred for building construction for structures like sheds, decks, garages, conservatories and patios.
Regional Insight
The analysis of the global polycarbonate panels market has been conducted, keeping in mind the top regions of Europe, Asia Pacific (APAC), North America, and the Rest of the world (RoW).
In 2018, the top-performing market for polycarbonate panels was APAC, while North America and Europe had secured the second and third positions, respectively.
APAC is expected to be the strongest region in the global market throughout the review timeframe, in terms of market share. The region, in recent years, has noted a surge in the number of construction projects, which are facilitated by massive investments in commercial as well as residential sectors. These construction activities have increased drastically mainly in emerging countries like India and China. The region houses a lucrative automotive industry and accounts for a significant share of global vehicle sales, which ramps up the demand for polycarbonate panels. Also, the thriving construction industry in India, China, Vietnam and Indonesia can further add to the market strength in the following years.
North America and Europe are highly profitable markets for polycarbonate panels, thanks to the presence of a well-established automotive industry along with the mounting demand for lightweight and durable interior in this industry. Besides, the expanding manufacturing industry in these regions also favors the polycarbonate market and can help generate more revenue in the near future.
Leading Participants
The leading industry participants enlisted in the report are 3A Composites GmbH (Germany), Covestro AG (Germany), Ug Plast Inc (US), Plazit Polygal (US), Gallina USA (US), Trinseo (US), SABIC (Saudi Arabia), Palram Industries Ltd. (Israel), Excelite (China), and others.
DS Smith (UK), MITSUBISHI GAS CHEMICAL COMPANY, INC. (Japan), Evonik Industries AG (Germany), Spartech (US), Brett Martin Plastic Sheets (UK), Stabilit Suisse SA (Europe), are other players influencing the market growth.
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