The global polycarbonate sheets market was robust in 2021, and it is expected to continue growing at a rapid pace during the forecast period. The demand for this product is expected to increase due to the rising demand for commercial roofing solutions, especially in the agricultural industry. However, environmental issues associated with the use of polycarbonate sheets are expected to impede revenue growth. The automotive and construction industries are expected to drive market revenue growth due to the increasing use of polycarbonate sheets in various applications.
Polycarbonate sheets are thermoplastic sheets that are strong, transparent, and resistant to moisture, flames, and chemicals. They are used in a wide range of applications, including window glass, medical devices, skylights, roofing, and in various industries such as automotive, construction, electrical, and electronics. While the use of polycarbonate sheets has various benefits, such as strength, thermal stability, and optical clarity, their impact on the environment and the difficulty of recycling are a major source of concern.
Technological advances in production and manufacturing, especially in the production of glowing placards and photo IDs, are expected to create new opportunities in the industry. The multiwall segment led the global polycarbonate sheets market in terms of revenue in 2021, while the electrical and electronics segment accounted for the largest revenue share.
Geographically, the North American market is expected to have the highest revenue CAGR during the forecast period, while the Asia Pacific market is expected to grow rapidly due to increased demand for polycarbonate sheets.
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Polycarbonate Sheets Market: Drive factors
The global polycarbonate sheets market is expected to register rapid revenue growth in the forecast period due to various driving factors. Some of the major factors driving revenue growth of the global polycarbonate sheets market include:
- Increased Demand from End-Use Industries: Polycarbonate sheets are used in a wide range of applications across various end-use industries such as building and construction, electrical and electronics, automotive and transportation, and aerospace and defense. The increase in demand for these industries due to growing infrastructure development, rise in need for roofing solutions, and preference for modern homes and smart workplace environments is driving the demand for polycarbonate sheets.
- Advantages of Thermoplastic Polymers: The need for ultralight, heavy-duty, and reusable materials for external and interior component applications in the automobile industry is driving the preference for thermoplastic polymers such as polycarbonate sheets. The remarkable physical and chemical qualities of polycarbonate sheets, such as strength, optical clarity, thermal stability, and outstanding dimensional stability, make them a popular choice for various applications.
- Expansion in the Automotive Sector: Polycarbonate sheets are increasingly being used in the automotive industry to make headlights, mirrors, and automotive body elements due to their strength, optical clarity, and thermal stability. The expansion of the automotive sector across the globe is expected to drive revenue growth of the polycarbonate sheets market in the forecast period.
- Expansion of Agricultural Industry: The expansion of the agricultural industry, along with increased demand from the sector, is expected to generate profitable prospects for revenue growth of the global market. Polycarbonate sheets are used in various applications in the agricultural sector such as greenhouse construction and livestock shelter, which is expected to drive demand for the product.
Overall, the increasing demand for polycarbonate sheets from various end-use industries, their advantages over other materials, and expansion of sectors such as automotive and agriculture are expected to be the major driving factors for the revenue growth of the global polycarbonate sheets market in the forecast period.
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