Acrylic Sheets Market to Experience Substantial Growth of USD 4.91 billion by 2029, at a 5.25% CAGR

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14 Apr, 2023, 15:30 BST

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The acrylic sheets market growth is driven by the surge in demand for high gloss acrylic sheets and decorative sheets in furniture and construction industries

PUNE, India, April 14, 2023 /PRNewswire/ -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Acrylic Sheets Market.

Acrylic sheets market size was valued at USD 3.1 billion in 2022 and is projected to reach USD 4.91 billion by 2029, growing at a CAGR of 5.25% from 2023 to 2029.

Acrylic sheet is a fiber/plastic sheet manufactured by utilizing two and more derivatives of acrylic acid. PMMA (Polymethyl Methacrylate acrylic) is one of the mostly used forms of acrylic, owing to its unique features such as weather ability and versatility. Acrylic sheet can be colored or tinted, mirrored or made opaque and numbers of coating are applied to sheet for enhancing its finishing, scratch resistance and solar reflectivity. Acrylic sheet is available in different variant in the market according to the need and demand of consumer such as various level of heat resistance capacity sheet, flow rates and release capacity.

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Recent Developments

APAC's most important markets are China, India, and Japan, which together accounted 38% Market Share.

In applications such as medical, food & catering, sanitaryware, architectural & interior design, and signage & display, rising per capita income, rising purchasing power, and increasing urbanisation are likely to drive the acrylic sheet market. Significant retail expansion and rising advertising spending in India, Indonesia, China, and other countries are expected to drive the signs and display application segment market in APAC.

Benefits of using Acrylic Sheeting to build a Greenhouse

1. Higher Efficiency

Plants need around 70-75% of light to grow optimally and acrylic sheets offer light transmission up to 92%. Since diffused light is vital for a greenhouse, acrylic sheets are designed to be used as light diffusers for greenhouses. Moreover, acrylic sheets are thicker than standard glass, which makes them better for diffusing light.

2. Greater Durability

Greenhouses are prone to a lot of damage and glass isn't exactly known for its durability. Being outdoors, greenhouses are exposed to not just the harsh weather, but also potential vandalism and incidental contact. Acrylic sheets have an impact resistance 6-7 times greater than that of glass. This allows your greenhouse to be a lot more durable.

3. Faster Construction

Since glass becomes very heavy if it is over a certain thickness, it needs proper support to hold in place safely. The foundation for glass greenhouses needs to be deep in order to carry the heavy load, making the process more expensive. Acrylic, however, is extremely lightweight. In fact, it weighs less than half of what glass does. This makes greenhouses faster and less expensive to build.

4. Reduction in Cost

Earlier, using acrylic sheets would not only be more expensive but also go against the traditional style followed by greenhouses. Due to the advancements made in the refining process for manufacturing plastic, the prices of acrylic sheets have reduced greatly. As a result, using acrylic has become a lot more cost-effective.

5. Extended Plant Growth

Acrylic sheeting is not just great for convenience and your wallet. They also have a significant impact on the overall performance of the greenhouse. These sheets make way for extensive plant growth, allowing you to grow your choice of fruits and vegetables throughout the year.

Acrylic sheet's easy moulding feature allows it to be moulded into any desired shape when heated to a high temperature. This reason is also driving up the demand for acrylic sheets on the market.

Owing to the increased demand for acrylic sheets for use as an alternative for glass in various products such as sanitary ware, medical equipment, and industrial equipment and machinery the market is rapidly growing. Acrylic sheets are a less expensive alternative to polycarbonate sheets, which are commonly used in signage and displays. Furthermore, they are less dense than glass. The global acrylic sheets market is likely to be driven by increased use of acrylic sheets in points-of-purchase and displays in order to boost brand awareness, product credibility, and sales during the forecast period.

Key Drivers of Acrylic Sheets Market

Availability of Low-cost Substitutes to Hamper Market:

Acrylic Sheets Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 3.1 billion in 2022

Revenue forecast in 2029

USD 4.91 billion by 2029

Growth rate

CAGR of 5.25% from 2023 to 2029

Base year for estimation

2022

Historical data

2018 - 2022

Forecast period

2023 - 2029

Quantitative units

Volume in kilo tons, revenue in USD million and CAGR from 2023 to 2029

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; China; Asia; Pacific; Central & South America; MEA

Key Market Drivers

· High demand for strong, compact and lightweight components in automotive industry Increasing demand for manufacturing of various everyday commercial goods

· Environment-friendly acryclic sheets

Acrylic Sheet Market: Market participants

Examples of some of the market participants identified across the value chain of the global Temporary Fencing Panels market includes:

Browse In-depth Market Research Report (110pages) on Acrylic Sheets Market

https://exactitudeconsultancy.com/reports/4636/acrylic-sheets-market/

Segment Overview

Acrylic Sheet Market is segmented by Type, by Applications, and by Regions.

by Type

by Applications

by Regions

· Cell

· Continuous

· Sanitary Ware

· Signage & Display

· Architecture & Interior Design

· Transportation

· Medical

· Food & Catering

· North America

· Asia Pacific

· Europe

· Latin America

· Middle East and Africa

Market Dynamics

Drivers

Increasing demand for manufacturing of various everyday commercial goods: as compared to glass, acrylic sheets offer several advantages, such as higher durability, lighter in weight, and high cost-effectiveness. As a result, manufacturers have been preferring acrylic sheets over glass for various everyday products used in businesses and households. Acrylic sheets are increasingly being used for various conventional, including production of windows, wall partitions, lighting fixtures, acrylic mirrors, shelves, pole signs, screen protectors for tv screens, as well as unconventional applications, including handcrafts, aquariums, and helmets

Restraints

Volatility in prices of raw materials: Acrylic sheets are made from raw materials such as methyl methacrylate. The first step in making acrylic sheets is the polymerization of the raw materials, resulting in a product called a monomer. Polymethyl methacrylate and other acrylic plastic polymers are formed using methyl methacrylate monomer. Acrylic sheets are primarily petroleum-based thermoplastic products. Thus, the fluctuations in the crude oil prices are likely to have a corresponding impact on the price of acrylic sheets, which are made by bulk polymerization process.

Opportunity

Environment-friendly acryclic sheets: Unlike traditional acrylic sheets which are made from virgin oil-based raw materials. The environment-friendly acrylic sheets are wholly or partially produced using recycled industrial materials. These acrylic sheets are also transparent and resistant to ultraviolet (UV) rays, similar to their traditional counterparts. Moreover, these can be reused and recycled multiple times. Green Cast and Ecocrylic are some of the examples of environment-friendly acrylic sheets. Most of these environment-friendly recyclable acrylic sheets are produced using extrusion of industrial and commercial waste, such as LCD screens.

Challenges

Environmental impact and recyclability issue: acrylic sheets cause considerable environmental impact, including environmental acidification, eutrophication, carcinogenic effects, environmental toxicity, amongst others. For the production of one kg of polymethyl methacrylate (PMMA), nearly two kg of crude oil is used while releasing roughly 5.5 kg of carbon dioxide in the environment.

Key Question Answered

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