Acrylic Sheets Market: Substitutes for Glass Sheets

  • An acrylic sheet is a fiber sheet manufactured by utilizing two and more derivatives of acrylic acid. Polymethyl methacrylate acrylic is one of the mostly used forms of acrylic. It is used largely, owing to its unique features such as weather-ability and versatility. Acrylic sheets can be colored or tinted, mirrored or made opaque. A large number of coatings are applied onto these sheets for enhancing their finish, scratch resistance, and solar reflectivity.
  • The global acrylic sheets market is anticipated to expand at a rapid pace during the forecast period, owing to increased demand for acrylic sheets for use as an alternative for glass in various products such as sanitary ware, medical equipment, and industrial equipment and machinery.

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Key Drivers of Global Acrylic Sheets Market

  • High strength, light weight, clarity, anti-fogging property, and glare reduction are some of the important features of acrylic sheets. These are expected to be key factors driving the global acrylic sheets market during the forecast period.
  • Acrylic sheets can be molded into any shape by heating at high temperatures. This factor also fuels the demand for acrylic sheets. Moreover, growing industrialization and urbanization indirectly drive the demand for acrylic sheets. This factor is expected to fuel the global acrylic sheets market during the forecast period.
  • Companies operating in the global acrylic sheets market are investing to expand their product portfolios and improve their distribution networks. They have adopted strategies such as mergers and acquisitions, development of new products, joint ventures, and expansions to cater to the increasing demand for acrylic sheets in different regions. For instance, in 2017, Evonik began construction of a new stretching and polishing plant at its Weiterstadt site in Germany. With this move, the company aims to cover the entire value chain of cast and stretched polymethyl methacrylate sheets for the aviation industry. In 2017, Altuglas International launched a new range of acrylic sheets under the brand name of Altuglas Metallic & Iridescent.

Cast Acrylic Sheets Segment to Offer Attractive Opportunities

  • Cast acrylic sheets is a cost-effective substitute for polycarbonate sheets that are used in signage and display applications. Additionally, they are lighter than glass. Increasing use of cast acrylic sheets in points-of-purchase and displays in order to increase brand awareness, product credibility, and sales is expected to drive the global acrylic sheets market during the forecast period.
  • Cast acrylic sheets are used as a cost-efficient substitute for a diverse range of materials such as glass, wood, ceramic, and metal

Availability of Low-cost Substitutes to Hamper Market:

  • Acrylic sheets face stiff competition from polycarbonate sheets, glass, and extruded acrylic sheets. These technically advanced sheets provide excellent combination of brightness and uniformity similar to acrylic sheets. This is likely to hinder the market during the forecast period.
  • Acrylic sheets have several low-cost alternatives, such as glass, which are used in applications wherein low quality is allowable.
  • Acrylic sheets are used as cost-efficient substitutes for materials such as glass, wood, ceramic, and metal in automotive and signage & display applications. Rising focus on reducing the weight of products is driving the global acrylic sheets market.

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Asia Pacific to Hold a Major Share of Global Acrylic Sheets Market

  • Asia Pacific is a leading consumer of acrylic sheets, followed by North America and Europe.  China and India are key markets in the region. In terms of demand, the two countries account for more than 50% share of the market for acrylic sheets in the region. Increase in the demand for acrylic sheets in automotive & transportation, architecture & interior design, and sanitary ware industries in Asia Pacific can be attributed to continued urbanization and rising purchasing power of consumers in the region.
  • Rising FDIs in automotive and construction industries in developing economies of Asia Pacific are likely to fuel the market in the region during the forecast period
  • The acrylic sheets market in Middle East & Africa is estimated to expand at the most rapid pace during the forecast period, followed by North America and Europe. This can be attributed to increasing investments in construction and automotive industries in the region.
  • The Middle East & Africa region consists of countries with people having high purchasing power such as Saudi Arabia, the UAE, and Qatar. These countries are major consumers of sanitary ware products. The construction industry in the region is expected to expand in the near future, due to upcoming international events such as the Dubai Expo to be held in Dubai, the UAE in 2020 and the FIFA World Cup 2022 in Qatar. These factors are estimated to drive the demand for acrylic sheets in the region during the forecast period.

Key Players Operating in Global Market:

The global acrylic sheets market is highly concentrated with top manufacturers accounting for approximately 25%–30% of the market share. A few of the key players operating in the global acrylic sheets market are:

  • Lucite International (Mitsubishi Chemical)
  • Evonik
  • Altuglas International (Arkema Group)
  • GARY Acrylic Xishun
  • Elastin International Corp.
  • Asia Poly Industrial Sdn Bhd.
  • Ray Chung Acrylic Enterprise Co., Ltd.
  • Plaskolite
  • Jumei Acrylic
  • Guang Shun Plastic
  • Taixing Donchamp Acrylic Co., Ltd.
  • Ningbo Shen Chuen Chemical Co., Ltd

Global Acrylic Sheets Market: Research Scope

Global Acrylic Sheets Market, by Type

  • Extruded Acrylic Sheets
  • Cell Cast Acrylic Sheets
  • Continuous Cast Acrylic Sheets

Global Acrylic Sheets Market, by Application

  • Sanitary Ware
  • Visual Communication & Retail
  • Furniture & Design
  • Electronics & Energy
  • Automotive & Transport
  • Architecture & Construction
  • Others

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Acrylic Sheets Market