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polycarbonate-sheets-market-future-looks-bright-for-market-size-with-soaring-projections
In terms of end-use industries, electrical & electronics held over one-third of the market share in 2021 and is expected to continue leading.
WILMINGTON, DELAWARE, UNITED STATES, April 18, 2024 /EINPresswire.com/ — The global polycarbonate sheets market, valued at $1.5 billion in 2021, is projected to reach $2.6 billion by 2031, with a Compound Annual Growth Rate (CAGR) of 5.7% from 2022 to 2031, according to a report by Allied Market Research. The report offers an in-depth analysis of key investment areas, successful strategies, drivers and opportunities, market size estimations, competitive landscape, and emerging trends.
Demand from various end-use sectors is driving market growth, though environmental concerns pose challenges. Nevertheless, increasing demand from developed nations is expected to present new opportunities.
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The COVID-19 pandemic disrupted industrial activities, impacting the polycarbonate sheets market. Supply chain disruptions and reduced demand from sectors like electrical & electronics, construction, automotive, and transportation worsened the situation. However, with widespread vaccination efforts underway, market recovery is anticipated.
The market is segmented by type, end-use industry, and region. Multiwall sheets accounted for the majority of market revenue in 2021 and are expected to maintain dominance. Solid sheets are projected to witness the fastest growth with a CAGR of 6.0%.
In terms of end-use industries, electrical & electronics held over one-third of the market share in 2021 and is expected to continue leading. Aerospace and defense are anticipated to experience the fastest growth with a CAGR of 6.5%.
Geographically, Asia-Pacific led the market in 2021 and is forecasted to maintain its dominance with the fastest CAGR of 6.4% from 2022 to 2031.
Key players in the market include Uvplastic Material Technology Co., Ltd., Covestro AG, Jiaxing Innovo Industries Co., Ltd., Polyvalley Technology Co., Ltd., Tuflite, Emco Industrial Plastics, Palram Industries Ltd, Exolon Group, Spolytech, and MG Polyplast Industries Pvt. Ltd. These companies have adopted various strategies such as partnerships, expansions, and collaborations to strengthen their market position.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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April 18, 2024
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