Global Polycarbonate Panels Market Research Report by Type (Solid Panels, Multiwall Panels and Corrugated Panels), Application (Building and Construction, Electrical and Electronics, Automotive and Others), Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2024. The global polycarbonate panels market is expected to witness a CAGR of around 4.4% over the forecast period.
Polycarbonate panels are light weight and transparent materials with high strength, excellent elasticity, durability, thermal insulation, and fire-resistance. The global polycarbonate panels market is expected to witness sustainable growth during the forecast period owing to the increased demand from end-use industries, such as building and construction, electrical and electronics and automotive. The developing nations are introducing various reforms and regulations for boosting the infrastructure and real estate industries. Such reforms are expected to drive the global polycarbonate panels market.
The prominent players in the global polycarbonate panels market are SABIC (Saudi Arabia), Excelite (China), 3A Composites GmbH (Germany), Covestro AG (Germany), Ug Plast Inc (US), Plazit Polygal (US), Gallina USA (US), Trinseo (US), and Palram Industries Ltd. (Israel). Stabilit Suisse SA (Europe), Brett Martin Plastic Sheets (UK), DS Smith (UK), MITSUBISHI GAS CHEMICAL COMPANY, INC. (Japan), Evonik Industries AG (Germany), and Spartech (US) are among others.
Market Segmentation
By the mode of type, the market is split into solid panels, multiwall panels, and corrugated panels. Among which, solid panels segment had the largest market share in the market back in 2018 and is now expected to nurture at the highest CAGR in the forecast period. The inclination of consumers towards solid panels due to its better physical properties is the reason behind the market's proliferation.
By the mode of application, the market is split into building & construction, electrical & electronics, automotive, and more. The building & construction segment had the largest market share owing to the several construction projects going on in developed countries. With the mounting urbanization, there has been a consistent need for residential spaces, which has demanded the need for polycarbonate roofing sheets due to its properties of lightweight, and temperature resistance. These lead to the demand for polycarbonate panels inevitably over the years and will continue to remain the same in the forecast
Regional Analysis
The global polycarbonate panels market has been segmented into regions of North America, Europe, Asia-Pacific and Rest of the world (RoW). Asia-Pacific held the largest share in the global polycarbonate panels market, followed by North America and Europe in 2018. Asia-Pacific will continue with its dominance until 2024. This is attributed to the increase in the number of construction projects backed by investments in both, commercial and residential construction in the countries such as China and India. Moreover, in the year 2018, Asia-Pacific was one of the important regions for automotive industry and held a high share of global vehicle sales, which is expected to continue over the forecast period. Growth of automotive and construction industry in the region is expected to raise the demand for polycarbonate panels in Asia-Pacific during the forecast period.
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