The global cast acrylic sheets market is expected to register a CAGR of 5.9% to reach $4.5 billion by 2023. Cast acrylic sheets possess a high molecular weight and are rigid, lightweight, easy to handle, cut and cement. The sheet is easy to shape, fabricate, and form.
Some of the key players operating in the global cast acrylic sheets market are Mitsubishi Chemical Corporation (Japan), Evonik Industries AG (Germany), Altuglass International Arkema Group (France), 3A Composites GmbH (Germany), Aristech Surfaces LLC (US), MADREPERLA Spa (Italy), Spartech (US), Astari Niagara International (Indonesia), Pyrasied Xtreme Acrylic (Netherlands), Asia Poly Industrial Sdn Bhd (Malaysia), SCG Chemicals Co., Ltd (Thailand), Shanghai Acrylic(Cast) Chemical Corporation (China), Jokema industry Co. Ltd (Taiwan), and Limacryl NV (Belgium).
By type, the global cast acrylic sheets market has been classified into cell cast acrylic sheet, continuous cast acrylic sheet, and extruded cast acrylic sheet.
Among these, the cell cast acrylic sheet was the largest and the fastest growing segment in 2018.
The segment is expected to maintain its dominance during the review period, owing to the low cost of production of cell cast acrylic sheet as compared to the other two types.
Additionally, the production process of cast acrylic and extruded cast acrylic sheets is labor intensive, which is also expected to contribute to the growth of the cell cast acrylic sheet segment.
Based on application, the global cast acrylic sheets market has been divided into sanitary ware, signage & display, architecture & interior design, automotive & transportation, furniture & design, and others.
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The signs & displays held the largest share and was the fastest growing segment in 2018, due to the increasing use of display screens and sign boards on roads, hotel lobbies, airports, and most commonly in retailing and merchandising.
Increasing marketing activities are boosting the use of signs & displays.
In addition, due to the versatile properties such as lightweight, high strength, resistance to chemicals, and low cost of production is boosting the growth of the signs & displays segment in the global cast acrylic sheets market.
The global cast acrylic sheets market has been spanned across five key regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia-Pacific held the largest share and was the fastest growing regional market in 2018, owing to the growing use of cast acrylic sheets in the automotive and transportation industry.
North America held the second-largest share of the global cast acrylic sheets market in 2018 and is projected to continue the trend during the forecast period.
The European market is expected to witness considerable growth, and the Latin American market is expected to record moderate growth during the forecast period. The Middle East & African market is projected to witness sluggish growth during the review period.