Polycarbonate Sheets Market - Forecasts from 2023 to 2028

The global polycarbonate sheets market is expected to grow at a CAGR of 4.24% from an estimated market size of US$1.724 billion in 2021 to reach US$2.306 billion in 2028.

Polycarbonate sheets are known for their durability, transparency, and resistance to impact, heat, and weathering. Several factors, including the increasing demand for these materials in the construction industry for applications such as roofing, skylights, and walls, are driving the need for polycarbonate sheets. They are also used in the automotive, electronics, and packaging industries, among others. The growth of these industries, particularly in emerging markets, is expected to drive the demand for polycarbonate sheets. Moreover, the market is segmented into solid, corrugated, and multiwall polycarbonate sheets. The solid vehicle segment is expected to hold a larger market share due to their wide usage in applications such as glazing, safety shields, and machine guards due to their impact resistance and high transparency. The corrugated and multiwall segment is also expected to grow significantly due to its lightweight, durability, and weather resistance.

The global polycarbonate sheets market is driven by growing demand in automotive and transportation.

The prime factor that is predicted to drive the growth of the global polycarbonate sheets market is the growing demand for polycarbonate sheets in the automotive and transportation industries due to their unique properties and the increasing demand for lightweight and fuel-efficient vehicles. Polycarbonate sheets are highly impact-resistant and lightweight, making them ideal materials for automotive applications such as headlamp lenses, instrument panels, and window glazing. In addition, polycarbonate sheets offer better impact resistance than traditional materials such as glass. As a result, they can help reduce the vehicle's weight, improving fuel efficiency and lowering emissions while also providing excellent impact resistance and optical clarity.

Market Developments:

• In 2020, Covestro launched a new grade of solid ultra-durable polycarbonate sheet, Makrolon® 3638 polycarbonate, which is chemical resistant, food contact compliant, and of limited medical grade, engineered to be used in medical applications and life sciences and also contributing to the lower carbon footprint.
• In 2021, Palram Industries launched a new line of corrugated polycarbonate sheets called SUNLITE® Plus. These sheets are designed with built-in condensation control for roofing and cladding applications and feature a unique profile that provides improved strength and durability.
• In April 2023, Advent International, backed by German manufacturer Roehm, a private equity firm, completed its negotiations to acquire SABIC's polycarbonate sheets business at a price of approximately $300 million. SABIC, which is 70% owned by Saudi Aramco.

The need for lightweight vehicles is driving the demand for polycarbonate sheets in the automotive sector.

Polycarbonate sheets offer advantages such as weight reduction, improved fuel efficiency, design flexibility, and enhanced safety features, which have led to their growing adoption in the automotive sector. Additionally, the trend towards electric and hybrid vehicles, which require lighter materials for improved efficiency, has fueled the demand for polycarbonate sheets in the global automotive market. Moreover, increasing regulations for fuel efficiency, emission reduction, and vehicle safety have also influenced the use of polycarbonate sheets in the automotive industry, as they offer solutions that help meet these requirements.

For instance, stringent regulations aimed at improving fuel efficiency and reducing emissions from vehicles, such as Corporate Average Fuel Economy (CAFE) standards in the United States, Euro emissions standards in Europe, and China VI emissions standards in China, are pushing automakers to seek lightweight materials, including polycarbonate sheets, to reduce the overall weight of vehicles and improve fuel efficiency. As a result, the growth of the automotive industry has played a significant role in driving the global polycarbonate sheets market.

Asia Pacific is the major market global polycarbonate sheets market in 2021.

The global polycarbonate sheets market has been segmented by geography into North America, South America, Europe, Middle East and Africa, and Asia Pacific.

A primary factor driving India's market growth is the growing construction activity. As a result, polycarbonate roofing has become extremely popular in India. Indian consumers are extremely dissatisfied with conventional roofing options, creating higher demand for polycarbonate sheets.

In India, polycarbonate roofing sheets are widely used for industrial and large-scale commercial building projects such as hotels, offices, etc. These applications are a good fit because of their strength and insulating qualities. Polycarbonate sheets come in various textures and patterns and are completely weather-resistant, simple to install, and incredibly durable. In addition, they may be utilized as excellent roofing solutions in areas like swimming pool areas, sky lighting, pathways, and display signboards and have extremely minimal maintenance costs. Therefore, increasing infrastructure & construction activities are driving the market growth.

According to the data published by the Government of India, in 2022, the country became the third-largest construction market in the world. By 2025, it is anticipated that India's construction market will be worth US$1.4 trillion. Between April 2000 and December 2022, FDI in the construction development sector and construction activities totaled US$26.30 billion and US$29.20 billion, respectively. Construction of commercial buildings such as office buildings, hotels, retail stores, and entertainment facilities has seen a rise in the country. The six major cities in India saw a net absorption of 31.9 million square feet of office space in 2020.

Market Segmentation:

BY TYPE

• Solid
• Corrugated
• Multiwall

BY END-USER INDUSTRY

• Electrical and Electronics
• Automotive
• Construction
• Agriculture
• Others

BY GEOGRAPHY

• North America
• United States
• Canada
• Mexico
• South America
• Argentina
• Brazil
• Others
• Europe
• Germany
• France
• United Kingdom
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Taiwan
• Thailand
• Others