Cast Acrylic Sheets Market Worth 4.38 Billion USD by 2022 – Report by MarketsandMarkets™

“Cast Acrylic Sheets Market”
Cast Acrylic Sheets Market by Type (Cell, and Continuous), Application (Sanitary Ware, Signage & Display, Architecture & Interior Design, Automotive & Transportation), and Region (APAC, EU, NA, MEA, and SA)

The cast acrylic sheets market size is projected to reach USD 4.38 billion by 2022, at a projected CAGR of 5.8% between 2017 and 2022. Cast acrylic sheets are lightweight, have high transparency and impact resistance. They are majorly used to replace glass, ceramic, and wood in applications such as signage & display, sanitary wares, and architecture & interior design.

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New product launches, expansions, and acquisitions were the key strategies adopted by the leading players to strengthen their positions in the cast acrylic sheets market between 2014 and 2017. Some of the leading players operating in the cast acrylic sheets market are Altuglas International (France), Evonik (Germany), Mitsubishi Chemical (Japan), and 3A Composites (Germany). These companies adopted strategies such as new product development, expansions, and acquisitions to expand their product portfolio and extend their reach to new markets.

Altuglas International is a subsidiary of the Arkema Group (France). The company is one of the leading producers of methyl methacrylate (MMA) and polymethyl methacrylate (PMMA) technologies and a global supplier of high-quality acrylic sheets and resins. The company launched a new range of acrylic sheets under the brand Altuglas Metallic & Iridescent in October 2017. These sheets are specially developed for point of purchase displays, shop fitting, interior architecture, and furniture. With this new product, the company has expanded its product portfolio.  

Evonik is a Germany-based company, which sells cast acrylic sheets under its performance materials segment. The company has a presence in over 100 countries across the globe. Furthermore, in March 2017, it started the 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 PMMA sheets for the aviation industry.

The strategy of expansion enables industry players to leverage the growing demand for their products in regional and foreign markets through a distribution network, while new product launches help in increasing the customer base and brand value. The Asia Pacific market is experiencing high growth due to the rising demand in emerging economies such as China and India. Several international and domestic industry players are investing in the region through expansions and acquisitions, making it one of the fastest-growing markets for cast acrylic sheets.

The cast acrylic sheets market is projected to reach USD 4.38 billion by 2022, at a CAGR of 5.8% between 2017 and 2022. Cast acrylic sheets are superior, in terms of clarity, impact resistance, and color variations, as compared to extruded acrylic sheets. They are expensive and are used in applications such as sanitary, signage & display, and glazing.

The growing trend of replacing conventional materials such as metal, wood, and glass with lightweight materials is fueling the demand for cast acrylic sheets in various applications. Cast acrylic sheets are 2 to 3 times lighter than glass. A cast acrylic sheet of 8 to 10 mm thickness has a weight equal to that of a glass of 3 to 4 mm. This has increased its demand in the architecture & interior design industry. The growing demand for lightweight materials in the automotive, aerospace, and infrastructure & interior design industries is expected to drive the demand for cast acrylic sheets.    

Cell cast is the oldest and most expensive method of producing acrylic sheets. Investments and cost of equipment required for the production of cell cast acrylic sheets are less than those used for the production of extruded cast sheets and continuous cast sheets. However, the cell cast acrylic sheet production process is more labor-intensive than others are. Cell cast acrylic sheets are the most widely used cast acrylic sheet grade globally. These sheets are used in signage, lighting, display cabinets, glazing, aquariums, and automotive parts, including headlight protectors and bonnet protectors.

Signage & display is estimated to be the fastest-growing application of cast acrylic sheets during the forecast period. They are used in advertising displays and screens at retail stores, airports, and hotel lobbies. The use of signage and POS displays is growing nowadays with increased marketing activities in the retail industry. Cast acrylic sheets are extremely strong and provide high weather resistance, and hence, are most popular in internal as well as external signage applications. Their versatility, in terms of color, the range of design, and clarity make them the most suitable option for signage and displays.       

The cast acrylic sheets are preferred by end users, as they provide a solution to a trade-off between quality and cost factors of materials used in sanitary ware, signage & display, architecture & interior design, and automotive & transportation. Low-cost substitutes such as glass and extruded cast acrylic sheets have a significant gap between performance characteristics; while the high-quality substitutes; polycarbonate is costlier than cast acrylic sheets. Growing construction and advertising industries in the Asia Pacific and the Middle East & Africa are estimated to fuel the demand for cast acrylic sheets during the forecast period.  

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