Cast Acrylic Sheets Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Cast Acrylic Sheets Market: Overview
Cast acrylics is a grade of acrylic sheets whose use in a large variety of indoor and outdoor applications has been rising. Cast acrylic sheets are characterized by unique machining, fabrication, and handling properties, which account for steadily growing use in numerous end-use industries. The global cast acrylic sheets market is earning good revenues on account of their rising applications in the automotive industry. Cast acrylic sheets have also been extensively used in signage and POS display applications, notably in advertisement.
Manufacturers in the global cast acrylic sheets market are utilizing diverse set of properties to meet the needs of current diversity of demand and emerging applications. Some of the properties in focus are their excellent optical clarity, rigidity, and surface hardness; variety of surface finish properties such as gloss and anti-reflective; and amazing weatherability and good resistance to several chemicals. Increasing versatility of these sheets is bolstering its applications, thereby generating revenues for the cast acrylic sheets market.
Global Cast Acrylic Sheets Market: Notable Developments
Outstanding performance properties have made cast acrylics preferable to wood, steel, glass, or ceramics in numerous demanding applications, thus opening lucrative avenues in the cast acrylic sheets market. Apart from the ease of fabrication, manufacturers have been utilizing the properties of high impact resistance and excellent weatherability to carve out new applications in the cast acrylic sheets market.
An Ohio-based acrylics sheet manufacturer Plaskolite Columbus has successfully bought Germany-based materials manufacturer Covestro at the end of 2018. With this, the company has forayed into the polycarbonate (PC) sheet business and is mulling expanding its portfolio in the cast acrylic sheets business. The decision was motivated by the concern that the PC sheet business can be a strategic fit for a manufacturer of cast acrylic sheets business. Plaskolite is looking to develop materials to cater to a wide range of applications in the cast acrylic sheets market.
The global cast acrylic sheets market is expected to witness increasing degree of fragmentation in the coming years through 2028. Entry of new players will also keep the cast acrylic sheets market increasing competitive.
Some of the most prominent competitors operating in the competitive landscape of global cast acrylic sheets market include –
Global Cast Acrylic Sheets Market: Key Growth Dynamics
The automotive industry with its extensive demand for cast acrylic sheets is generating copious revenues to the global market. Substantial applications the industry stems from the range of superb scratch-resistance properties, light-weight, and surface hardness cast acrylic sheets possess.
Growing demand for light-weight and high-performance automotive among automakers is a key trend bolstering the expansion of the cast acrylic sheets market. The wide variety of surface effect properties that cast acrylic sheets can endow make them increasingly useful materials in automotive glazing applications. Rapid strides made by automotive manufacturing in various end-use industries is a key factor propelling the rapid expansion of the cast acrylic sheets market.
Revenues in the global cast acrylic sheets market also emerge from their rising demand in advertising for signage and display applications, world over. The sheets have replaced polycarbonates and glass in recent years. Rising application of acrylic sheets in infrastructures in the hospitality sector is also bolstering the growth of the global cast acrylic sheets market.
The cast acrylic sheets market is also likely to spawn substantial revenues from the rising demand for sheets by manufacturers of sanitary ware in developing regions.
Global Cast Acrylic Sheets Market: Regional Assessment
Among the various key regional markets, Asia Pacific is expected to churn out considerable revenues in the global cast acrylic sheets market over the assessment period. The steadily growing demand is attributed to extensive uptake in the industries such as consumer goods, automotive, and construction. Other attractive regions in the cast acrylic sheets market could be Europe and North America, where there is notable demand for high-performance material in numerous end-use industries. The Middle East and Africa is also anticipated to rise at prominent pace over the next few years, especially due to rapidly emerging demand for premium-grade sanitary ware products.
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