Cast Acrylic Sheets Market:
Cast Acrylic Sheets Market Value and Growth:
The Global cast acrylic sheet market size is projected to reach from USD 3.4 billion in 2020 to USD 4.4 billion in 2025 at a CAGR of 6.5% during the period 2020 to 2025.
Cast acrylic sheet is a kind of polymethyl methacrylate and is known as Perspex and Plexiglas. They are produced from monomers by cell casting and continuous casting processes. The product has exceptional transparency and is widely used in signage, museum buildings, exhibits, and aircraft windshields. Furthermore, the cast acrylic sheet has a high molecular weight and can be easily manufactured in a myriad of shapes and forms. Cast acrylic sheets are used in a wide range of applications, including building and construction, structural and commercial glazing, exhibitions, trade shows, conventional displays and displays, hobby, metal fabrication and manufacturing plastic, etc. The building and construction segment has the highest growth potential for cast acrylic sheets. In the minds of designers and architects, cast acrylic sheets are the top priority for elegant building designs due to their excellent weather resistance, light weight, easy fabrication, colors and high transparency. In addition, the cast plates are quite strong, which makes them better for use in structural glazing applications.
Impact of Covid-19 on the Global Cast Acrylic Sheets Market:
There is hardly any place in the world that has not been affected by the brutality of the Covid-19 pandemic; almost all manufacturing companies are suffering from the relentless disease of the novel coronavirus. To encompass the pandemic, many countries and governments around the world have imposed a blockade, restricting gatherings and the movement of people. The lockdown has multiple consequences, further exacerbating the problems for various sectors, such as reverse migration, disruption of supply chains and the manufacturing sector. As the government has closed stores, businesses and malls, this is helping to curb the spread of the virus, which is the main factor affecting the industry.
Cast Acrylic Sheets Market drivers and restraints:
Cast acrylic sheets are used as a substitute for materials such as glass, ceramics and wood in sanitary, architectural, signage and display industries due to their superior characteristics such as high strength, clarity, lightness and reduced glare. Cast acrylic sheets are safer than glass because they will not shatter. Therefore, they can be used as an alternative to the glass panel acting as a driver of the forecast period. Massive product penetration in interior design, healthcare and automotive industries will drive market growth. Apart from this, the digitization of large-scale products, as well as their demand, will drive business trends. The growing demand for cast acrylic sheets in the construction industry, along with increasing urbanization, will increase the size of the market in the coming years. The advantageous characteristics of the product such as tensile strength, glare reduction, clarity, flexibility, anti-fog, light weight and water resistance will stimulate the expansion of the industry in the world during the planned period. However, the easy availability of cost effective alternatives will hamper the commercial space for years to come. In addition, the product is used in a variety of commercial, residential and industrial applications and is therefore expected to make a lavish contribution to the overall profits of the market in the years to come. Additionally, cast acrylic sheets have the ability to produce bulletproof and weatherproof windows as well as durable skylights. Cast acrylic sheets are high quality products and are expensive, the manufacturing process takes time and labor. Since substitute materials which are equally effective in nature are also available at lower prices, the consumer may not prefer cast acrylic sheets. This factor can act as a brake on market growth.
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Report segmented as:
Based on Process Type:
- Cell cast acrylic sheet
- Continuous cast acrylic sheet
Based on Application
- Signage & display
- Sanitary ware
- Architecture & Interior Design
- Food &Catering
Asia-Pacific holds the largest cast acrylic sheet market share in 2020, up to 35%, due to increasing infrastructure development and disposable income. The adoption of green building technologies in countries like China, India and Japan is increasing, influencing the demand for cast acrylic sheets as this sheet material provides construction and building professionals with a signaling and advanced properties light energy transmission, easy manufacturing and attractive exhibition facilities. It is expected to stimulate the cast acrylic sheet market. Significant growth in construction industry and increased advertising spending in India, Indonesia, China and other countries is expected to boost the cast acrylic sheet market in APAC region.
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