Surge demand from the end-use industries fuels the growth of the global polycarbonate sheets market. By end-use industry, the electrical & electronics segment accounted for the major share in 2021. By region, on the other hand, the market across Asia-Pacific would remain lucrative by 2031.
Portland, OR, July 04, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global polycarbonate sheets market was estimated at $1.5 billion in 2021 and is expected to hit $2.6 billion by 2031, registering a CAGR of 5.7% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.
Surge demand from the end-use industries fuels the growth of the global polycarbonate sheets market. On the other hand, environmental impacts of polycarbonate sheets impede the growth to some extent. However, rising call from the developed nations is projected to create multiple opportunities in the industry.
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COVID-19 scenario-
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The outbreak of COVID-19 gave way to halted industrial activities, which in turn impacted the global polycarbonate sheets market. The value chain disruptions aggravated the market condition even more.
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The pandemic also led to a sharp decline in demand from myriad end-use industries such as electrical & electronics, building & construction, automotive & transportation, and others.
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However, the mass rollout of vaccination in most countries is expected to amend the global situation and the polycarbonate sheets market is projected to revive soon.
The global polycarbonate sheets market is analyzed across type, end-use industry, and region. Based on type, the multiwall segment garnered nearly two-fifths of the total market revenue in 2021, and is anticipated to rule the roost by the end of 2031. The solid segment, on the other hand, would cite the fastest CAGR of 6.0% throughout the forecast period.
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Based on end-use industry, the electrical & electronics segment contributed to more than one-third of the total market share in 2021, and is expected to lead the trail by 2031. Simultaneously, the aerospace and defense segment would showcase the fastest CAGR of 6.5% during the forecast period.
Based on region, the market across Asia-Pacific held the major share in 2021, garnering more than three-fifths of the global market. The region is also expected to cite the fastest CAGR of 6.4% from 2022 to 2031. The other two provinces covered in the report include North America, Europe, and LAMEA.