Polycarbonate Sheets Global Market Report 2024

The polycarbonate sheets market size has grown strongly in recent years. It will grow from $2.69 billion in 2023 to $2.87 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth observed in the historic period can be attributed to various factors, including the expansion of the construction industry, a preference for lightweight materials, increased demand for customizable designs, a focus on durability, advancements in manufacturing techniques, and a heightened demand for transparency and clarity in products.

The polycarbonate sheets market size is expected to see strong growth in the next few years. It will grow to $3.85 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The anticipated growth in the forecast period can be attributed to various factors, including the increasing emphasis on safety and security requirements, the growing demand for sustainability and eco-friendly solutions, the need for UV resistance in outdoor applications, the requirement for design flexibility, and compliance with energy efficiency regulations. Major trends expected in this period encompass the rising demand for lightweight materials, a focus on energy efficiency and insulation, the importance of durability and impact resistance, a trend towards transparency and clarity in materials, and an adaptation to modern architectural preferences.

The rise in demand from the building and construction sector is a significant driver for the growth of the polycarbonate sheet market. Polycarbonate is gaining popularity in prominent buildings due to its robustness and high resistance. Notably, its resistance to hail, falling branches, and other impacts surpasses that of glass, acrylic, or GRP (glass-reinforced plastic). Importantly, unsuch as GRP, polycarbonate maintains its durability over time. Architects appreciate polycarbonate for its unique advantages, including sustainability and cost-effectiveness.

The anticipated expansion of the automotive industry is poised to drive the growth of the polycarbonate sheets market in the future. The automotive industry encompasses various economic activities involved in designing, developing, manufacturing, marketing, and selling motor vehicles. Polycarbonate sheets find applications in automobiles, including windows, headlamp lenses, and interior components, owing to their lightweight nature, high impact resistance, and optical clarity. For instance, as of February 2023, according to the European Automobile Manufacturers Association, a Belgium-based association, the global production of motor vehicles reached 85.4 million units in 2022, marking a 5.7% increase compared to 2021. Therefore, the ongoing expansion of the automotive industry is a key factor propelling the growth of the polycarbonate sheets market.

Technological advancement stands out as a prominent trend gaining traction in the polycarbonate sheet market. The rapid evolution of manufacturing technologies for polycarbonate sheets has significantly improved efficiency and output, leading to the development of sustainable material solutions. A noteworthy example is SABIC's launch of sustainable polycarbonate sheet products in July 2021. These new film and sheet products, connected with the company's TRUCIRCLE initiative, address the global demand for sustainable material solutions within an increasingly circular plastics economy.

Major companies in the polycarbonate sheets market are actively innovating by introducing new products, such as bio-based polycarbonate sheets, to gain a competitive edge. Bio-based polycarbonate sheets are derived from renewable sources, such as plant-based feedstocks or industrial by-products such as used cooking oil, in contrast to traditional polycarbonate sheets typically produced from fossil fuels. An illustration of this trend is seen in the August 2023 launch of BioBase polycarbonate sheets by Palram Industries, an Israel-based plastics manufacturing company. These sustainable sheets offer an eco-friendly alternative for roofing and cladding, significantly reducing carbon footprint. With properties comparable to traditional polycarbonate products, BioBase sheets are versatile for various applications while contributing to environmental goals. Certified by the International Sustainability and Carbon Certification (ISCC), these sheets align with sustainability objectives and provide a greener choice for construction projects.

In December 2021, Palram Industries Ltd., an Israel-based company specializing in polycarbonate and PVC sheets, acquired Tuflite Polymers Limited, an India-based company, for an undisclosed amount. This strategic acquisition is part of Palram's marketing strategy to enhance its presence in geographic markets with growth potential, including the Indian market. Tuflite Polymers Ltd. is recognized for its manufacturing of polycarbonate sheets.

Major companies operating in the polycarbonate sheets market report are Nippon Steel Corporation, SABIC (Saudi Arabia), Covestro AG, Evonik Industries AG, Exolon Group, DS Smit PLC, Teijin Limited (Japan), Mitsubishi Gas Chemical Company Inc., Trinseo S.A., 3A Composites GmbH, SK Chemical Co. Ltd., Palram Industries Ltd., Brett Martin Ltd., Impack Pratama, S polytech, Arla Plast AB, Jiaxing Innovo Industries Co. Ltd., Isik Plastik, Plazit Polygal Group, Emco Industrial Plastics, Excelite, Polygal, Gallina India, MG Polyplast Industries Pvt. Ltd., Uvplastic Material Technology Co. Ltd., Suzhou Omay Optical Materials Co. Ltd., Koscon Industrial, Spartech LLC, Polyvalley Technology Co. Ltd., SafPlast Innovative.

Asia-Pacific was the largest region in the polycarbonate sheets market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the polycarbonate sheets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the polycarbonate sheets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Concerning polycarbonate sheets, the main types comprise multiwall, corrugated, solid, and other textured variations. Multiwall refers to a panel composed of multiple layers, known for its strength and durability, making it suitable for roofing, siding, and greenhouse panels due to its shatter-resistant properties. Techniques employed in the production of polycarbonate sheets include extrusion, injection molding, blow molding, fabrication, and thermoforming. End-users of polycarbonate sheets span various industries, including building and construction, electrical and electronics, automotive and transportation, aerospace and defense, and packaging.

The polycarbonate sheets research report is one of a series of new reports that provides polycarbonate sheets statistics, including polycarbonate sheets industry global market size, regional shares, competitors with polycarbonate sheets share, detailed polycarbonate sheets segments, market trends and opportunities, and any further data you may need to thrive in the polycarbonate sheets industry. This polycarbonate sheets research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The polycarbonate sheets market consists of sales of injection moulding, structural foam molding, abrasion-resistant polycarbonate, and mirrored polycarbonate. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.