Cast Acrylic Sheets Market: Substitute for Polycarbonate Sheets
- Cast acrylic sheets are manufactured by pumping methyl methacrylate monomer liquid into a mold made from two sheets of glass. The mold is then submerged in warm water, and the process of polymerization takes place.
- Cast acrylic sheets are utilized as a cost-efficient substitute for diverse materials such as glass, wood, ceramic, and metal.
Key Drivers of Cast Acrylic Sheets Market
- Cast acrylic sheets are a cost-effective substitute for polycarbonate sheets that are used in signage & display applications. Additionally, they are lighter than glass. Increasing use of cast acrylic sheets in point of purchase and displays, in order to increase brand awareness, product credibility, and sales, is expected to drive the cast acrylic sheets market during the forecast period.
- Companies operating in the cast acrylic sheets market are investing to expand their product portfolios and improve their distribution networks. They adopt strategies such as mergers & acquisitions, new product developments, joint ventures, and expansions to cater to the increasing demand for cast acrylic sheets from different regions. For instance, in 2017, Evonik began 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 Polymethyl methacrylate sheets for the aviation industry. In 2017, Altuglas International launched a new range of acrylic sheets under the brand name, Altuglas Metallic & Iridescent.
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Signage & Display Segment to Offer Attractive Opportunities
- Signage & display is a common application of cast acrylic sheets, which are mostly used in retailing & merchandising. These sheets are used in advertising displays and screens at retail stores, airports, and hotel lobbies. They are extremely strong and provide high weather resistance and hence, are highly popular in internal as well as external signage applications.
- Cast acrylic sheets are a cost-effective substitute for polycarbonate sheets used in signage & display applications. In addition, they are lighter as compared to glass. The increasing use of cast acrylic sheets in point of purchase and displays to increase brand awareness, product credibility, and sales are expected to drive the cast acrylic sheets market in APAC and the Middle East & Africa.
- Increased advertising spend and significant growth of the retail industry is expected to fuel the demand for cast acrylic sheets market in signage & display segment.
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Availability of Low-Cost Substitutes to Hamper Market:
- Cast acrylic sheets faces stiff competition from counterparts such as polycarbonate sheets, glass, and extruded acrylic sheets. This technically advanced sheets provide excellent combination of brightness and uniformity as of cast acrylic sheets which may hinder market’s growth during the forecast period
- Cast acrylic sheets have several low-cost alternatives such as glass and extruded acrylic sheets, which are used where low quality is acceptable. However, the recent exponential rise in the price of the cast of acrylic sheets due to a shortage of raw materials has further increased the gap of raw material cost.
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- Cast acrylic sheets are used as a cost-efficient substitute for materials such as glass, wood, ceramic, and metal in automotive, signage & display applications. The focus on reducing the weight of products is driving the growth of the cast acrylic sheets market.
Asia Pacific expected to hold Major Share in the Global Cast Acrylic Sheets Market
- Geographically, the demand for cast acrylic sheets can be split across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- Asia Pacific is a leading consumer of cast acrylic sheets followed by North America and Europe. China and India are key markets in the region, and account for more than half of the total demand for cast acrylic sheets in the region. Increase in demand for cast acrylic sheets in automotive & transportation, architecture & interior design, and sanitary ware industries in Asia Pacific can be attributed to continued urbanization and rising purchasing power of consumers in the region.
- Rising FDI investment in automotive and construction industry in developing economies of Asia Pacific are some of the other factors likely to fuel the market in the region during the forecast period.
- The cast acrylic sheets market in Middle East & Africa is estimated to expand at a rapid pace during the forecast period, followed by the North America and Europe. This expansion can be attributed to increasing investments in construction and automotive industries in the region.
- The Middle East & Africa region includes high purchasing power countries such as Saudi Arabia, United Arab Emirates, and Qatar, these countries are the major consumers of sanitary ware products. The construction industry in this region is expected to grow due to upcoming international events such as the Dubai Expo in 2024 and the FIFA World Cup 2024 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 Operating in the Cast Acrylic Sheets Market:
Demand within cast acrylic sheets market is highly concentrated with top manufacturers accounting approximately 25-30% of the market. Few of the key players operating in the cast acrylic sheets market include:
- Altuglas International
- Aristech Acrylics
- Evonik
- Mitsubishi Chemical Corporation
- 3A Composites
- Madreperla
- Gevacril
- Spartech
- Astari Niagara
- Pyrasied Xtreme Acrylic
- Others
