by The foam core acrylic sheets are lightweight and durable composite materials used across various end-use industries such as construction, transportation, and consumer goods. They offer high rigidity, impact resistance, and are excellent insulators. The global foam core acrylic market demand is rising owing to increasing concerns regarding energy conservation and adoption of eco-friendly materials in the construction sector. The global foam core acrylic market is estimated to be valued at US$22 billion in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Sustainability focus in the construction industry has positively influenced the foam core acrylic market growth. Foam core acrylic sheets are estimated to reduce the overall carbon footprint of buildings as they provide better insulation and reduce energy consumption for heating and cooling. Their lightweight property also decreases transportation cost and fuel usage. Both public and private construction players are giving more importance to green building codes and sustainability ratings. This growing emphasis on eco-friendly materials is expected to drive the demand for foam core acrylics at a significant rate over the forecast period.
SWOT Analysis
Strength: Foam core acrylic sheets offer excellent thermal insulation which helps reduce energy costs. They are lightweight and easy to fabricate.
Weakness: Foam core acrylic sheets have low resistance to impact loads and surface damage compared to other materials. Proper handling is required during transportation and installation.
Opportunity: Growing construction industry in Asia Pacific is driving the demand for affordable and lightweight construction materials like foam core acrylic sheets. There is also a rise in infrastructure projects worldwide.
Threats: Volatility in raw material prices can increase the overall costs. Strict environmental regulations around plastic waste disposal can impact the market.
Key Takeaways
The global foam core acrylic market demand is expected to witness high growth.
Regional analysis:
The Asia Pacific region currently dominates the global foam core acrylic market share due to rapid industrialization and infrastructure development activities. China, India, Indonesia, and Vietnam are witnessing a boom in the construction sector which is driving the need for versatile building materials like foam core acrylic sheets. Countries in Europe and North America are also adopting foam core acrylic for various commercial and industrial applications owing to advantages over alternatives.
Key players
operating in the foam core acrylic market are 3A Composites, Armacell, Eurocomposites, Gill Corporation, Diab Group (Ratos), Changzhou Tiansheng New Materials Co., Ltd, Plastronics, CoreLite, and NORCO. These companies have been focusing on new product launches, expansion into emerging regions, and collaborations to cater to the growing construction and manufacturing end-use industries globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
