The Cast Acrylic Sheets Market to Grow Fast Till 2022

The Cast Acrylic Sheets Market to Grow Fast Till 2022“Cast Acrylic Sheets Market by Type (Cell Cast Acrylic Sheet, Continuous Cast Acrylic Sheet), Application (Sanitary Ware, Signage & Display, Architecture & Interior Design, Automotive & Transportation), and Region – Global Forecast to 2022” The cast acrylic sheets market is projected to grow from an estimated USD 3.31 Billion in 2017 to USD 4.38 Billion by 2022, at a CAGR of 5.8% during the forecast period.

Cast acrylic sheets are used in sanitary wares, signage & displays, architectural designs, interior design, automotive, and other applications. Other applications include food, medical, industrial equipment, and sports. Cast acrylic sheets are used as a cost-efficient substitute for materials such as glass, wood, ceramic, and metal in these applications. The focus on reducing the weight of products is fueling the growth of the cast acrylic sheets market.

The cell cast acrylic sheet is projected to be the largest type segment of the cast acrylic sheets market from 2017 to 2022.

Cell cast is the oldest and most expensive method of producing acrylic sheets. The cell cast acrylic sheet segment accounted for the largest share of the overall cast acrylic sheets market in 2016. Investments and the cost of equipment used for the production of cell cast acrylic sheets are less than extruded cast sheets and continuous cast sheets. However, the overall cost of cell cast acrylic sheets is higher than continuous cast acrylic sheets, as it is a labor-intensive process. This factor is responsible for the high market share of the cell cast acrylic sheet type segment.

)Signage & display is projected to be the fastest-growing application segment of the cast acrylic sheets market during the forecast period.

Signage & display is a common application of cast acrylic sheets, mostly used in retailing & merchandising. They are used in advertising displays and screens at retail stores, airports, and hotel lobbies. The usage of signage and POS displays is growing with increasing marketing activities in the retail industry. These sheets are extremely strong and provide high weather resistance and hence, are most popular in internal as well as external signage applications. Their versatility, in terms of color, the range of design, and clarity make them the most suitable option for signage & displays. In terms of cost-effectiveness, the cast acrylic sheets lead to 25% savings when compared to the polycarbonate sheets. In addition, they are lighter as compared to glass.

The Middle East & Africa is projected to be the fastest-growing market for cast acrylic sheets; the rapid growth of end-use industries in the Asia Pacific region is projected to drive the demand for cast acrylic sheets during the forecast period.

APAC is the largest market for cast acrylic sheets, and this trend is expected to continue till 2022. China and India are the key markets in the region, contributing to more than half of the total demand for cast acrylic sheets in APAC. The increase in demand for cast acrylic sheets in the automotive & transportation, architecture & interior design, and sanitary ware industries in APAC can be attributed to continued urbanization and rising purchasing power of consumers in the region.

The Middle East & Africa region includes high purchasing power countries such as Saudi Arabia, UAE, and Qatar. These are the major consumers of premium grade sanitary ware products. The architecture industry in this region is expected to grow due to upcoming international events such as the Dubai Expo in 2020 and the FIFA World Cup 2022 in Qatar. These factors are estimated to fuel the demand for cast acrylic sheets in the region during the forecast period.

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Key Players – Key companies operating in the cast acrylic sheets market are Altuglas International (France), Aristech Acrylics (US), Evonik (Germany), Mitsubishi Chemical (Japan), and 3A Composites (Germany) etc.

Cast Acrylic Sheets Market Industry Leaders Research Insight & New Revenue Pockets

The cast acrylic sheets market size is projected to reach USD 4.38 billion by 2022, at a projected CAGR of 5.8% between 2017 and 2022. Cast acrylic sheets are lightweight, have high transparency and impact resistance. They are majorly used to replace glass, ceramic, and wood in applications such as signage & display, sanitary wares, and architecture & interior design.

New product launches, expansions, and acquisitions were the key strategies adopted by the leading players to strengthen their positions in the cast acrylic sheets market between 2014 and 2017. Some of the leading players operating in the cast acrylic sheets market are Altuglas International (France), Evonik (Germany), Mitsubishi Chemical (Japan), and 3A Composites (Germany). These companies adopted strategies such as new product development, expansions, and acquisitions to expand their product portfolio and extend their reach to new markets.

Altuglas International is a subsidiary of the Arkema Group (France). The company is one of the leading producers of methyl methacrylate (MMA) and polymethyl methacrylate (PMMA) technologies and a global supplier of high-quality acrylic sheets and resins. The company launched a new range of acrylic sheets under the brand Altuglas Metallic & Iridescent in October 2017. These sheets are specially developed for point of purchase displays, shop fitting, interior architecture, and furniture. With this new product, the company has expanded its product portfolio.

Evonik is a Germany-based company, which sells cast acrylic sheets under its performance materials segment. The company has a presence in over 100 countries across the globe. Furthermore, in March 2017, it started the construction of a new stretching and polishing plant at its Weiterstadt site in Germany. With this expansion, the company aims to cover the complete value chain of the cast and stretched PMMA sheets for the aviation industry.

The strategy of expansion enables industry players to leverage the growing demand for their products in regional and foreign markets through a distribution network, while new product launches help in increasing the customer base and brand value. The Asia Pacific market is experiencing high growth due to the rising demand in emerging economies such as China and India. Several international and domestic industry players are investing in the region through expansions and acquisitions, making it one of the fastest-growing markets for cast acrylic sheets.

The cast acrylic sheets market is projected to reach USD 4.38 billion by 2022, at a CAGR of 5.8% between 2017 and 2022. Cast acrylic sheets are superior, in terms of clarity, impact resistance, and color variations, as compared to extruded acrylic sheets. They are expensive and are used in applications such as sanitary, signage & display, and glazing.

The growing trend of replacing conventional materials such as metal, wood, and glass with lightweight materials is fueling the demand for cast acrylic sheets in various applications. Cast acrylic sheets are 2 to 3 times lighter than glass. A cast acrylic sheet of 8 to 10 mm thickness has a weight equal to that of a glass of 3 to 4 mm. This has increased its demand in the architecture & interior design industry. The growing demand for lightweight materials in the automotive, aerospace, and infrastructure & interior design industries is expected to drive the demand for cast acrylic sheets.

Cell cast is the oldest and most expensive method of producing acrylic sheets. Investments and cost of equipment required for the production of cell cast acrylic sheets are less than those used for the production of extruded cast sheets and continuous cast sheets. However, the cell cast acrylic sheet production process is more labor-intensive than others are. Cell cast acrylic sheets are the most widely used cast acrylic sheet grade globally. These sheets are used in signage, lighting, display cabinets, glazing, aquariums, and automotive parts, including headlight protectors and bonnet protectors.

Signage & display is estimated to be the fastest-growing application of cast acrylic sheets during the forecast period. They are used in advertising displays and screens at retail stores, airports, and hotel lobbies. The use of signage and POS displays is growing nowadays with increased marketing activities in the retail industry. Cast acrylic sheets are extremely strong and provide high weather resistance, and hence, are most popular in internal as well as external signage applications. Their versatility, in terms of color, the range of design, and clarity make them the most suitable option for signage and displays.

The cast acrylic sheets are preferred by end users, as they provide a solution to a trade-off between quality and cost factors of materials used in sanitary ware, signage & display, architecture & interior design, and automotive & transportation. Low-cost substitutes such as glass and extruded cast acrylic sheets have a significant gap between performance characteristics; while the high-quality substitutes; polycarbonate is costlier than cast acrylic sheets. Growing construction and advertising industries in the Asia Pacific and the Middle East & Africa are estimated to fuel the demand for cast acrylic sheets during the forecast period.

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The Cast Acrylic Sheets Market to Grow Fast Till 2022
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