The Asia Pacific Polycarbonate Sheets Market would witness market growth of 5.7% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 1,17,039.84 thousand square meters, showcasing a growth of 20.3% (2020-2023).
Multiwall polycarbonate sheets are highly versatile and find numerous applications across different industries. In construction, they are commonly used for roofing, skylights, and walls in both residential and commercial buildings. The multiwall structure provides excellent thermal insulation properties, helping to regulate indoor temperatures and reduce heating and cooling costs. Therefore, the China market consumes 15,196.98 thousand square meters of multiwall segment in 2023.
The China market dominated the Asia Pacific Polycarbonate Sheets Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $299.3 million by 2031. The Japan market is registering a CAGR of 5% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 6.3% during (2024 - 2031).
The adoption of sheets is driven by their superior properties, versatility, and suitability for various industry applications. They can withstand harsh environmental conditions, including extreme temperatures, sunlight exposure, and chemicals, without deteriorating or losing their properties. This durability makes them ideal for applications where longevity and reliability are essential, such as roofing, skylights, and protective barriers.
Polycarbonates are lightweight yet strong, making them easier to handle, transport, and install than traditional materials such as glass or metal. This lightweight construction reduces material costs, labor requirements, and structural support needs, making sheets a cost-effective choice for various applications.
The Indian packaging industry is predicted by the National Investment Promotion and Facilitation Agency to reach $204.81 billion by 2025, with a growth rate of 26.7% from 2020 to 2025. Packaging is currently the 5th largest sector of the Indian economy. As the packaging industry in India expands to meet the growing needs of various sectors, such as food and beverage, pharmaceuticals, consumer goods, and e-commerce, there will be a higher demand for innovative and durable packaging materials. Moreover, As per the International Trade Administration (ITA), China will continue to hold its position as the worldwide leader in both annual vehicle sales and manufacturing output, and it is projected that domestic production will reach 35 million vehicles by 2025. Vehicle sales in 2021 were over 26 million. Among these, passenger vehicles accounted for 21.48 million, reflecting a 7.1% growth compared to the previous year. Hence, the increasing packaging industry and rising vehicle production in the region drive the market’s growth.
Free Valuable Insights: The Global Polycarbonate Sheets Market is Predict to reach USD 2.3 Billion by 2031, at a CAGR of 5.6%
Based on Type, the market is segmented into Multiwall, Solid, Corrugated and Others. Based on End-Use Industry, the market is segmented into Electrical & Electronics, Building & Construction, Automotive & Transportation, Aerospace & Defense, Packaging, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Type (Volume, Thousand square meters, USD Billion, 2020-2031)
By End-Use (Volume, Thousand square meters, USD Billion, 2020-2031)
By Country (Volume, Thousand square meters, USD Billion, 2020-2031)
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