North America Polycarbonate Sheets Market Size Expected to Reach $263.61 million by 2030

According to a new report published by Allied Market Research, titled, "Polycarbonate Sheets Market By Type and End-Use Industry: Regional Opportunity Analysis and Industry Forecast, 2021-2030," the North America Polycarbonate Sheets market was valued at $185.98 million in 2020, and is projected to reach $263.61 million by 2030, registering a CAGR of 3.82% from 2021 to 2030.

Polycarbonate sheets are the thermoplastic sheets that offer exceptional dimensional stability & optical clarity; excellent impact resistance; and excellent thermal resistance. These high-performance attributes make them ideal for different applications, which require impact resistance and high thermal resistance. Polycarbonate sheets are widely used in roofing application owing to their strength and design flexibility.

The demand for polycarbonate sheets is expected to increase in the near future owing to increased demand for the product roofing system. In addition, the growth in automotive industry is expected to help boost the market growth. There is increased use of polycarbonate sheets for producing headlamps, mirrors, and vehicle body parts in the region. However, negative environmental impacts of polycarbonate sheets may hamper the steady growth of the market. Nonetheless, the growth of agriculture industry along with increased demand from the sector is anticipated to create lucrative opportunities for the growth of the polycarbonate sheets market. 

The North America polycarbonate sheets market is segmented on the basis of type, end-use industry, and region. By type, the market is classified into solid, multiwall, corrugated, and others. By end user-industry, the market is categorized into building & construction, electrical & electronics, automotive & transportation, aerospace & defense, packaging, and others. The electrical & electronics segment dominated the North America polycarbonate sheets market in terms of revenue, in 2020, owing to growth of electronics industry along with growing inclination towards smart homes and smart offices environment in the region. Polycarbonate sheets are a promising material for building sensor components, LCD pieces, switching relays, laptops, mobile phones, cables, CDs, and DVDs, owing to its lightweight and high impact properties. Country wise, the market is analyzed across U.S., Canada, and Mexico. Among the North American countries, the U.S. holds the highest share of the North America polycarbonate sheets market owing to rise in demand for electric vehicles coupled with the growth in construction and electronics industries.

The key players profiled in the report include COVESTRO AG; Emco Industrial Plastics; Gallina USA; H&F Manufacturing Corp.; PALRAM INDUSTRIES LTD.; SABIC; Sirius Plastics LLC; Spartech; TEIJIN LIMITED; and Ug Plast, Inc. These players compete for the share of the market through product launch, joint venture, partnership, and expansion of production capabilities to meet the demand for polycarbonate sheets market during the forecast period. For instance, in 2021, CartierWilson LLC, a manufacturers’ representative agency in the Performance Plastics industry, announced its partnership with Gallina USA. With this partnership, CartierWilson LLC is aiming to add representation to Gallina USA’s existing coverage in the U.S. and Canadian markets. Also, with its combined industry as well as product knowledge, CartierWilson is poised to support the current customer base and discover new growth opportunities for the business.

IMPACT OF COVID-19 ON NORTH AMERICA POLYCARBONATE SHEETS MARKET

Emergence of COVID-19 outbreak negatively impacted the North America polycarbonate sheets market. This impact is mostly attributed to significant disruptions in raw material transportation and shutdown of the end-use industries, such as electrical & electronics, building & construction, automotive & transportation, and other industries; thereby resulting in decline in demand for polycarbonate sheets during this period. For instance, the COVID-19 pandemic has brought unprecedented effects on the U.S. building & construction industry. The impacts of the pandemic and the policies in order to curb its spread include cancellation and suspension of projects/contracts; shortages in the materials, workforce, and supplies; and drop in productivity rates. As per a national survey conducted by the Associated General Contractors of America in October 2020, of 1,077 respondents, 840 contractors experienced project delays or disruptions.

Key Findings of Study

• By country, the U.S.  accounted for the largest North America polycarbonate sheets market share in 2020.
• By type, the solid segment is projected to grow at the highest CAGR during the forecast period.
• By end-use industry, the electrical & electronics segment is expected to dominate the North America polycarbonate sheets industry during the forecast period.