Sarasota, FL -- (SBWire) -- 02/15/2019 --Zion Market Research has published a new report titled "Polycarbonate Panels Market by Type (Multi-Wall Panels, Corrugated Panels, and Solid Panels) and by Application (Building & Construction, Automotive, Electrical & Electronics, Medical, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2025". According to the report, the global polycarbonate panels market was valued at USD 1.77 billion in 2018 and is expected to reach USD 2.43 billion by 2025, at a CAGR of 4.6% between 2019 and 2025.
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Polycarbonate is one of the finest plastic materials available globally. It is durable, moldable, flame resistant, lightweight, shatterproof, and energy-efficient. Polycarbonate panels are extremely tough and absorb minimal moisture apart from being damage and water resistant.
The global polycarbonate panels market is expected to grow rapidly in the years ahead owing to the rising product application in several end-user industries, such as automotive, construction, and electronics. Due to the versatile properties of polycarbonate panels, such as excellent elasticity, lightweightness, high impact strength, and high functionality at a wide range of temperatures, they are extensively used in the automotive industry. Moreover, the growing demand for polycarbonate panels by the construction industry is likely to be another major factor driving this global market in the upcoming years. However, the high environmental impacts of polycarbonate panels might hamper polycarbonate panels market growth over the estimated timeframe. Alternatively, the rising application of polycarbonate panels in the medical industry is projected to offer new growth opportunities in the future.
The global polycarbonate panels market is classified based on type and application. The type segment includes multi-wall panels, corrugated panels, and solid panels. Solid panels are expected to register the highest CAGR over the estimated time period, owing to the increasing product use in various end-user industries. Moreover, solid polycarbonate panels are widely used in fabrication structures for porticos, roofing sheds, gardens, terraces, and swimming pools. By application, the polycarbonate panels market includes building and construction, automotive, electrical and electronics, medical, and others. The medical sector is projected to register the fastest rate of growth in the years ahead, owing to the rising use of polycarbonate panels for cardiac surgery products, intravenous connection components, and surgical instruments.
By region, the global polycarbonate panels market includes North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. The Asia Pacific region was the largest contributor to the global polycarbonate panels market in 2018 and is expected to dominate the market in the future. The emerging construction activities and the rising population are likely to be the key factors driving this regional market. North America and Latin America are estimated to grow considerably over the forecast time period owing to the flourishing automotive industry.
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Some key players of the global polycarbonate panels market are SABIC, Palram Industries, Covestro, Plazit, UG-Plast, Gallina, Polygal, Brett Martin, Koscon Industrial, SafPlast, Carboglass, Arla Plast AB, DS Smith, IsikPlastik, Aoci Decoration Material, Gi Plast, JiasidaSunsheet, and Quinn, among others.
The report segments the global polycarbonate panels market into:
Global Polycarbonate Panels market: Type Analysis
Multi-Wall Panels
Corrugated Panels
Solid Panels
Global Polycarbonate Panels market: Application Analysis
Building and Construction
Automotive
Electrical and Electronics
Medical
Others
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Global Polycarbonate Panels market: Regional Analysis
North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
Global Polycarbonate Panels Market Is Expected to Reach Around USD 2.43 Billion by 2025
Global polycarbonate panels market expected to reach USD 2.43 billion by 2025, at a CAGR of 4.6% between 2019 and 2025. The global polycarbonate panels market is expected to grow rapidly in the years ahead owing to the rising product application in several end-user industries, such as automotive, construction, and electronics