Cast Acrylic Sheet Market Size & Share, by Type (Continuous, Cell); Application (Signage & Display, Architecture & Interior Design, Sanitary Wave, Medical, Transportation, Food & Catering) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5086
  • Published Date: Jul 14, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Cast Acrylic Sheet Market size is set to surpass USD 5 Billion by the end of 2035, witnessing around 5% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of cast acrylic sheet was around USD 3 Billion. The growing deployment of solar panels for sufficing the need for growing electricity is the main driving factor for the market growth. By the end of 2023, it is expected that more than 350 GW of PV systems will be installed. The increase would be approximately a 53% rise over 2022 when new worldwide solar installations reached nearly 229 GW. In recent years, there has been a shift toward using cast acrylic sheets as the protective cover of the solar panel. Their transparency is crucial for capturing sunlight and maximizing energy generation.

Besides this, the growing requirement for the manufacturing of medical equipment and devices has also boosted the requirement for cast acrylic sheets thus contributing to the cast acrylic sheet market expansion. They can be forged to create components, such as equipment enclosures, instrument covers, display screens, and panels. Moreover, acrylic sheet is also used for manufacturing protective eyewear, such as safety goggles and face shields, for medical professionals.


Cast Acrylic Sheet Market
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Cast Acrylic Sheet Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Use of Touchscreen Devices – The world's smartphone users will total 7 billion in 2023, representing around 86% of the global population. Furthermore, a study shows that smartphone users touch, tap, or swipe their smartphones an average of 2,617 times every day. The use of touchscreens, such as smartphones, tablets, and interactive displays has boosted the demand for cast acrylic sheets. Since, their clarity ensures sharp and vibrant visuals, enhancing the overall user experience.
  • Improving the Fuel Efficiency of Vehicle– According to the Department of Energy, lowering the weight of a vehicle by 10% can improve fuel efficiency by 6 to 8%. With the rising expenditure on fuel, it has become imperative to manufacture fuel-efficient vehicles. Acrylic sheets are used as lightweight alternatives to glass in automotive windshields and windows. Their high optical clarity allows for excellent visibility while driving and it also improves aerodynamics, reducing air resistance, thereby enhancing the fuel efficiency of the vehicle.
  • Rising Popularity of LCD and LED Screens – In 2019, smart TV technology, one of the most recent advancements in the television business, accounted for more than 200 million unit sales worldwide. Estimates imply that by 2025, this yearly total could reach 266 million units. Acrylic sheets are lightweight and can be, manufactured in thin dimensions, making them suitable for the slim and compact designs of modern LCD and LED screens.

Challenges

  • Competition from Alternative Materials - Cast acrylic sheets face competition from alternative materials such as glass, polycarbonate, and specialized films. Various materials have their own unique properties and advantages, making them viable alternatives for certain applications. Manufacturers and customers often evaluate factors such as cost, durability, optical properties, and environmental consideration when selecting material. The presence of competitive materials can limit the growth potential of the cast acrylic sheet market.
  • Volatile Prices of Raw Materials
  • Regional Variation of Cast Acrylic Sheet

Cast Acrylic Sheet Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~5%

Base Year Market Size (2022)

~ USD 3 Billion

Forecast Year Market Size (2035)

~ USD 5 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Cast Acrylic Sheet Segmentation

Type (Continuous, Cell)

The cell type of cast acrylic sheet segment is estimated to hold 60% share of the global cast acrylic sheet market during the forecast period. Cell sheet has a greater molecular weight and better surface hardness, this is the primary factor that increased the demand for the cell type of cast acrylic sheet. Moreover, the cell type has more options for customization and exceptional effects, which makes it even more lucrative than the continuous type. Furthermore, cell-cast acrylic sheets can be easily fabricated and shaped into various forms, including complex geometrics and intricate designs. They can be thermoformed, machined, engraved, and bonded, enabling a wide range of uses, such as aerospace, retail, medical, and majorly in automotive components. As per recent data, consumer spending on auto parts reached more than USD 45,000 million in January 2022 across the world.

Application (Signage & Display, Architecture & Interior Design, Sanitary Wave, Medical, Transportation, Food & Catering)

In the year 2035, the signage & display segment in the cast acrylic sheet market is predicted to have a considerable share of around 46%. The growth of the segment is primarily attributed to the rising demand for cover panels, smart display, and touchscreens. Moreover, the growing trend of advertisement through huge displays and LED screens will significantly push the segment’s growth. It is estimated, that every year all across the world, the total spending on outdoor advertising was nearly USD 29 billion. Cast acrylic sheets are commonly used as the face material for illuminated signs. They offer superior light transmission, allowing for vibrant and evenly distributed illumination. The sheets can be fabricated with various finishes, such as glossy, matte, or textured, to achieve different visual effects. The optical clarity of cast acrylic enhances the visibility of the sign, making it ideal for outdoor advertisements.

Our in-depth analysis of the global cast acrylic sheet market includes the following segments:

            Type

  • Continuous
  • Cell

           Application

  • Signage & Display
  • Architecture & Interior Design
  • Sanitary Wave
  • Medical
  • Transportation
  • Food & Catering
 

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Cast Acrylic Sheet Market - Regional Synopsis

APAC Market Forecast

The cast acrylic sheet market in Asia Pacific is anticipated to expand at the greatest CAGR in the near future, with a share of approximately 34% by the end of 2035. The growth of the market can be attributed majorly to the increasing urbanization and higher development of smart cities.  In the next 20 years, the Asia Pacific’s cities will house an additional 1.1 billion people. Over fifty-five percent of Asia's population will be urban by 2030. Furthermore, many countries in the region are experiencing favorable economic growth, resulting in consumer spending on products made up of cast acrylic sheets, such as home furnishings, retail displays, and other consumer goods.

The region's need for fuel is increasing, indicating the rise of the automobile and aerospace industries, which in turn boosts the region's usage of cast acrylic sheets for manufacturing components. Fuel demand in India is expected to rise 5.5% in the upcoming fiscal year, which begins on April 1, 2023.

North American Market Statistics

The North America cast acrylic sheet market will grow and will secure a significant revenue of around 27% of the total by the end of 2035. The rising development of new infrastructures is the primary growth factor region’s market growth. Based on data from the US Census Bureau and the US Department of Housing and Urban Development, 1,524,000 permits for construction were issued in February 2023. Moreover, 1,45,000 residential projects were started and 1,557,000 house constructions have been finished.

Research Nester
Cast Acrylic Sheet Market Size
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Companies Dominating the Cast Acrylic Sheet Market

top-features-companies
    • Spartech LLC
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Gevacril Srl
    • Arkema
    • Trinseo
    • BASF SE
    • Evonik Industries AG
    • 3A Composites GmbH
    • Mitsubishi Chemical Corporation
    • PT Astari Niagara Internasional
    • PyraSied Xtreme Acrylic

In-the-news

In The News

  • Trinseo in collaboration with Falcon Private Holdings and SK AA Holdings, LLC announced the acquisition of Arsitech Surfaces LLC for expanding their acrylic solution application in the wellness and architecture sector in Asia.
  •  Arkema announced the launch of Incellion, for expanding its waterborne acrylic solution “inside the cell” for anodes with high capacity, cathode primers, and ceramic-coated separators are all available. It will bring more opportunities and innovation for ESS and electric vehicle batteries.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5086
  • Published Date: Jul 14, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for lightweight vehicles, growing demand for medical equipment, and rising use of solar panels are the major factors driving the market growth.

Acrylic, commonly known as plexiglass or lucite, is a popular replacement for glass since it is lighter in weight and has better transparency. On the other hand, cast Acrylic is created by combining liquid materials in glass molds.

The market size of cast acrylic sheet is anticipated to attain a CAGR of around 5% over the forecast period, i.e., 2023 – 2035.

The thickness of cast acrylic sheet ranges from 2.5 mm to 6.0 mm.

The major players in the market are Arkema, BASF SE, Evonik Industries AG, 3A Composites GmbH, Mitsubishi Chemical Corporation, PT Astari Niagara Internasional, PyraSied Xtreme Acrylic, Spartech LLC, Trinseo, and others
Cast Acrylic Sheet Market Report Scope
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