Research Nester’s recent market research analysis on “Cast Acrylic Sheet Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global cast acrylic sheet market in terms of market segmentation by type, application, and by region.
Growing Deployment of Solar Panels to Promote Global Market Share of Cast Acrylic Sheet
The global cast acrylic sheet market is estimated to grow majorly on account of the rising installation of solar panels and the growing need for lightweight component materials for automobiles. Acrylic sheets are utilized in car windscreens and windows as lightweight alternatives to glass. Their great optical clarity provides for good visibility while driving and also enhances aerodynamics, lowering air resistance and increasing fuel efficiency. Moreover, the solar panel's protective cover is made of cast acrylic sheets. Their transparency is critical for capturing sunlight and producing the most energy. The world could have installed more than 350 GW of PV systems by the end of 2023.
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Besides this, the growing demand for LED and LCD-based smart television is also expected to drive market growth. Acrylic sheets are extremely light and thin, making them ideal for the small and compact designs of current LCD and LED screens. Moreover, they also act as a protective layer for the touchscreens.
Some of the major growth factors and challenges that are associated with the growth of the global cast acrylic sheet market are:
Growth Drivers:
• Surge in Solar Panel Installation
• Rising Demand for Touchscreen Devices
Challenges:
The prices of raw materials are unsteady and there is no standardization for the manufacturing of acrylic sheets, these are some of the major factors anticipated to hamper the global market size of cast acrylic sheets. Acrylic sheets are manufactured using raw materials derived from petrochemicals, such as methyl methacrylate (MMA). Due to the factors like supply and demand dynamics, geopolitical events, and fluctuations in oil prices, the cost of the raw material is subjected to volatility. Price instability in raw materials can impact the overall cost of acrylic sheets, making it challenging for manufacturers to maintain consistent pricing and margins. On the other hand, there is tough competition from other materials, such as glass, polycarbonate, and specialized films. When picking material, manufacturers and customers frequently consider issues such as cost, durability, optical qualities, and environmental consideration. The presence of rival materials may limit the cast acrylic sheet market's growth potential.
On the basis of type, the global cast acrylic sheet market is segmented into cell and continuous. The cell segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. Cell-cast acrylic sheets are easily formed and molded into a wide range of shapes, including complex geometrics and elaborate decorations. This features them to be used in a variety of industries including automotive, aerospace, retail, and medical and is also responsible for the segment’s growth. Furthermore, the market is further fragmented by application into different segments, including signage & display, architecture & interior design, sanitary wave, medical, transportation, and food & catering. Out of all, the signage and display segment will dominate the market owing to the growing popularity of outdoor advertisement. Besides this, the application of cast acrylic sheets in architecture and interior design is also increasing.
By region, the Asia Pacific cast acrylic sheet market is to generate the highest revenue by the end of 2035. The growth of the segment is primarily due to growing urbanization and higher development of infrastructures. Furthermore, the market in Europe is also expected to show significant growth during the forecast period. Europe has a robust construction and architecture sector, with ongoing infrastructure development, commercial building projects, and residential construction, the market in the region is expected to grow. Furthermore, the region is home to several leading automotive manufacturers, and the region’s focus on sustainable mobility and lightweight vehicle design that drives the demand for cast acrylic sheets.
This report also provides the existing competitive scenario of some of the key players of the global cast acrylic sheet market which includes company profiling of Arkema, BASF SE, Evonik Industries AG, 3A Composites GmbH, Mitsubishi Chemical Corporation, PT Astari Niagara Internasional, PyraSied Xtreme Acrylic, Spartech LLC, and Trinseo
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https://www.researchnester.com/reports/cast-acrylic-sheet-market/5086