Global Polycarbonate Sheets Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Solid, Corrugated, Multiwall), By End-User Industry (Electrical And Electronics, Automotive, Construction, Agriculture, Others), And By Geography - 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. The market for polycarbonate sheets is driven by several factors, including the increasing demand for these materials in the construction industry for applications such as roofing, skylights, and walls. 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 at a significant rate 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 an ideal material for use in automotive applications such as headlamp lenses, instrument panels, and window glazing. Compared to traditional materials such as glass, polycarbonate sheets offer better impact resistance and can help to reduce the weight of the vehicle, which in turn can improve fuel efficiency and reduce emissions, while also providing excellent impact resistance and optical clarity.

Key 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 and 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, has 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.

Based on end-user industry, the global polycarbonate sheets market is expected to witness positive growth in automotive segment.

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 further 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 accounted for a major share of the global polycarbonate sheets market, especially in India.

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

One of the primary factors driving the growth of the market in India is the growing demand for construction activities. Polycarbonate roofing has become extremely popular in India. Indian consumers are extremely dissatisfied with conventional roofing options therefore they are looking for novel roofing sheets which are 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 for them because of their strong strength and insulating qualities. Polycarbonate sheets come in a wide variety of textures and patterns and are completely weather-resistant, simple to install, and incredibly durable. They may be utilised 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 market growth in this country.

According to the data published by the Government of India, India is anticipated to become the third-largest construction market in the world by 2022. By 2025, it is anticipated that India's construction market would be worth US$1.4 Tn. 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 major six cities in India saw a net absorption of 31.9 million square feet of office space in 2020.

Global Polycarbonate Sheets Market Scope:

Key Market Segments

• 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