Increasing demand from the end-use industries drives the growth of the global polycarbonate sheets market.
PORTLAND, Ore., June 23, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Polycarbonate Sheets Market by Type (Solid, Multiwall, Corrugated, and Others) and End-use Industry (Building & Construction, Electrical & Electronics, Automotive & Transportation, Aerospace & Defense, Packaging, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2028." According to the report, the global polycarbonate sheets industry was estimated at $1.4 billion in 2020, and is anticipated to hit $2.1 billion by 2028, registering a CAGR of 5.7% from 2021 to 2028.
Drivers, restraints, and opportunities-
Increasing demand from the end-use industries drives the growth of the global polycarbonate sheets market. On the other hand, environmental impacts of polycarbonate sheets restrain the growth to some extent. However, rising call from the developed nations is expected to create multiple opportunities in the industry.
The outbreak of the pandemic led to disrupted industrial activities, which in turn hampered the global polycarbonate sheets market, especially in the first phase of the lockdown.
Nevertheless, the mass rollout of vaccination in most countries is projected to ameliorate the global situation and the polycarbonate sheets market is expected to get back on track soon.
The multiwall segment to dominate by 2028-
Based on type, the multiwall segment accounted for around two-fifths of the total market revenue in 2020, and is anticipated to rule the roost by the end of 2028. The fact that it is highly resistant to harsh weather drives the segment growth. The solid segment, on the other hand, would cite the fastest CAGR of 6.0% throughout the forecast period. This is attributed to its rising usage for numerous applications such as lighting applications, lamp boxes, hood lighting, and industrial shops
The electrical & electronics segment to maintain the dominant share-
Based on end-use industry, the electrical & electronics segment contributed to more than one-third of the total market share in 2020, and is expected to lead the trail by 2028, owing to its major applications such as optical plates, hardware gadgets, electrical accessories, switching relays, sensor parts, LCD sections, and others. Simultaneously, the building & construction segment would exhibit the fastest CAGR of 6.2% during the forecast period.
Asia-Pacific, followed by Europe and North America, garnered the major share in 2020-
Based on region, the market across Asia-Pacific, followed by Europe and North America, held the major share in 2020, garnering nearly two-thirds of the global market. The same market is also projected to cite the fastest CAGR of 6.5% from 2021 to 2028, owing to the presence of established sectors such as electronic, electrical, construction, and others in the region. The other two provinces covered in the report include North America, Europe, and LAMEA.
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