by Foam core acrylic sheets are commonly used as two thin sheets of acrylic bonded with a lightweight and durable foam core within. These sheets are highly versatile and offer excellent rigidity and impact resistance along with transparency. They find widespread application in the construction industry for interior decoration and exterior cladding along with automotive and transportation sectors for vehicle interiors, signage and displays.
The global Foam Core Acrylic Market is estimated to be valued at US$ 97.1 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand from the construction and automotive industries has been a key trend propelling the foam core acrylic market forward. Foam core acrylic sheets are increasingly being used in architectural applications such as interior decoration, facades, partitions and signage due to their unique combination of thermal insulation and durability properties compared to traditional materials. In the automotive sector as well, these lightweight yet strong sheets are gaining traction for vehicle interiors, rear compartments, displays and signage. Their shatter-resistant and rigid nature makes them suitable for transportation applications that undergo frequent impact and vibrations. Rising infrastructure development and automotive production across developing regions are expected to boost the consumption of foam core acrylic sheets over the forecast period.
SWOT Analysis
Strength: Foam core acrylic provides high resistance to damage and shock. It is lightweight, durable and easy to fabricate compared to glass.
Weakness: Foam core acrylic sheets have lower rigidity and strength compared to solid acrylic sheets. They also require special handling during fabrication and installation.
Opportunity: Rising construction of commercial buildings and retail outlets is driving the demand for illuminated signage, displays and architectural structures made from foam core acrylic. Rapid urbanization in developing economies is opening new growth avenues.
Threats: Volatility in raw material prices especially of crude oil can squeeze profit margins of foam core acrylic manufacturers. Strong competition from alternative materials like polycarbonate and expanded PVC sheets pose a threat.
Key Takeaways
The Global Foam Core Acrylic Market Size is expected to witness high growth on account of rising commercial construction and renovation activities. The global Foam Core Acrylic Market is estimated to be valued at US$ 97.1 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the market and is expected to maintain its lead position over the forecast period backed by strong growth in China, India and other Southeast Asian countries. Rapid infrastructure development and growing consumerism are driving the replacement and renovation activities thus augmenting the market growth. North America and Europe are other major regional markets propelled by recovering construction spending.
Key players operating in the foam core acrylic market are 3A Composites GmbH, Multi-Pak USA, Inc., Laird Plastics, United Industries Group, Inc., Acrylitec Displays, Ray Chung Acrylic Enterprise Co., Ltd., Mitsubishi Chemical Corporation, Plaskolite, LLC, Lucite International, Evonik Industries AG. These companies are focusing on capacity expansions and new product launches catering to the evolving design trends in signage, displays and architectural applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
