“Increasing usage of cast acrylic sheet as a replacement to glass to drive market growth”
The cast acrylic sheet market size is expected to grow from USD 3.0 billion in 2019 to USD 4.1 billion by 2024, at a compound annual growth rate (CAGR) of 6.4% during the forecast period. The cast acrylic sheet industry is driven by various factors such as its usage in a wide range of applications, excellent mechanical & chemical properties, and lightweight and low handling cost as compared to glass. Cast acrylic sheet is also safer than glass as it does not shatter, and unlike glass shards, broken cast acrylic sheet pieces are not sharp. These properties will drive the demand for cast acrylic sheet during the forecast period.
“Cell Cast process type is expected to grow at a higher CAGR during the forecast period.”
Cell cast process type was the largest and likely to be the fastest-growing process for cast acrylic sheet market during the forecast period. The cell cast process is easier and requires low set-up cost. The cell cast process type is labor-intensive, and the process produces better-saturated color. It also possesses an improved impact resistance and optical clarity. These factors have supported the growth of cell cast acrylic sheet market during the forecast period.
“Signage & display application to record the fastest growth during the forecast period.”
Use of cast acrylic sheet in signage & display application is increasing at a fast pace and has become the largest application. The lightweight of the material ,and high permeability of light allowed by cast acrylic sheet has led the advertisers to chose cast acrylic sheet over other materials, especially in Out-of-home advertising applications. The easy machinability and availability in various designs have led the architects and builders in selecting the material for architecture & design application. These factors will drive the demand for cast acrylic sheet during the forecast period.
“APAC to be the largest and fastest-growing market during the forecast period”
APAC to be the largest and fastest-growing market during the forecast period. The major countries in the region include China, India, Japan, and Indonesia. Rising income levels in these countries have led to an increase in demand for high-quality material, increasing urbanization and rapid infrastructure development has resulted in the growth of cast acrylic sheet in the region during the forecast period.
- By Company type: Tier1:30% Tier2:50% Tier3:20%
- By Designation: C-level executives: 40% Directors: 20% and Others: 40%
- By Region: North America: 10% Europe: 40% APAC: 30% South America: 10% Middle East & Africa: 10%
The cast acrylic sheet market is highly fragmented and comprises of major players such as, Mitsubishi Chemical Corporation (Japan), 3A Composites (Switzerland), Altuglas International (France), Aristech Acrylics (US), Madreperla (Italy), Gevacril (US), Margacipta Wirasentosa (Indonesia), Astari Niagra (Indonesia), Spartech (US), Asia Poly (Malaysia), Ray Chung Acrylic Enterprise (Taiwan), GRUPO IRPEN (Spain), Polyplastic (Netherland), Jokema Industry (Taiwan), Acrilex (US), Shanghai Acrylic (Cast) Chemical Corporation (China), Limacryl (Belgium), Lei Mei Acrylic (Dongguan) Co., Ltd. (China), Nitto Jushi Kogyo Co., Ltd (Japan), and UB Acrylics (Indonesia).
- This research report categorizes the global Cast acrylic sheet market based on type, end-use industry, application, and region.
- The report includes detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges.
- Detailed analysis of the key market players provides insights into business overviews, services, key strategies, and recent developments associated with the market.
Reasons To Buy the Report
The report will help the leaders/new entrants in this market in the following ways:
- This report segments the global cast acrylic sheet market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across verticals and regions.
- The report will help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, and opportunities.
- This report will help stakeholders understand the major competitors and gain insights to enhance their position in the business.
- The competitive landscape section includes expansions, acquisitions, and agreements.