Global Cast Acrylic Sheets Market 2019-2023 | Rising Demand for Signage and Display to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 8, 2019--
The global cast acrylic sheets market is expected to post a CAGR of about 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global cast acrylic sheets market 2019-2023. (Graphic: Business Wire)
Cast acrylic sheets are increasingly being deployed in the automotive sector as they are scratch-resistant, lightweight, and environment-friendly. Various automotive glazing applications such as decorative trimming, ambient lighting, and door entry stripping are using the acrylic plastic sheets, known as PMMA. Also, cast acrylic sheets are being preferred over thermoplastics and polycarbonates as they exhibit superior gloss and enhance the appearance of the vehicles. Furthermore, these sheets also offer exceptional clarity under fluctuating and unstable temperatures, allowing manufacturers to provide shine, glaze, and scratch resistance for exterior parts of the automobiles. Thus, increasing demand for cast acrylic sheets in the automotive industry will drive the market growth during the forecast period.
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As per Technavio, the rising demand for signage and displays will have a positive impact on the market, contributing to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global Cast Acrylic Sheets Market: Rising Demand for Signage and Displays
Signage and displays are increasingly being used for retailing and merchandising purposes, eventually finding applications in advertising, mainly in retail stores, airports, and hotel lobbies. Also, there has been a surge in marketing initiatives taken by the key stakeholders in the retail sector. This has further increased the deployment of digital signage and displays. Cast acrylic sheets are increasingly being used in the internal and external signage applications as they exhibit superior strength and offer excellent weather resistance. In addition, these sheets are available in a wide range of colors, designs, and optical clarity. Their cost-effectiveness and lighter weight make them a viable solution over conventional materials such as polycarbonates and glass, for developing signage and displays.
“Increasing investments in the residential sector, strategic initiatives undertaken by leading market participants, increasing demand for cell cast acrylic sheets, and superior properties of cast acrylic sheets are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Cast Acrylic Sheets Market: Segmentation Analysis
This market report segments the global cast acrylic sheets market by application (sanitary ware, automotive and transportation, signage and display, and architecture and interior design) and geography (APAC, North America, Europe, MEA, and South America).
APAC led the market in 2018, followed by North America, Europe, MEA, and South America, respectively. A large number of building and construction activities undertaken by the government for infrastructural development in the APAC will drive the regional cast acrylic sheets market. Also, the growing adoption of ceramic tile flooring owing to its low cost and availability of a large number of distributors and retailers will drive the cast acrylic sheets market growth in APAC during the forecast period.
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Some of the key topics covered in the report include:
Five Forces Analysis
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SOURCE: Technavio Research
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PUB: 11/08/2019 02:30 PM/DISC: 11/08/2019 02:30 PM