Corrugated Polycarbonate Panels Market Size was valued at USD 0.38 billion in 2023. The Corrugated Polycarbonate Panels Industry is projected to grow from USD 0.40 billion in 2024 to USD 0.64 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.00% during the forecast period (2024 - 2032). The rising construction industry and growing adoption of renovation & remodeling are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The construction industry benefits from using sustainable practices because corrugated polycarbonate panels are recyclable. The ability of these panels to be recycled is consistent with the growing demand for environmentally friendly building materials. Panels made of corrugated polycarbonate have superior thermal insulation qualities. These panels complement sustainability goals by assisting in temperature regulation and lowering the demand for excessive heating or cooling in buildings. Buildings can let in natural light because corrugated polycarbonate panels are transparent. Reducing the need for artificial lighting throughout the day, this feature known as daylighting, leads to energy savings and a more environmentally friendly method of building design.
The PM Gati Shakti Master Plan for Highways will be put into effect in 2022–2023, enabling quicker transit. At a cost of INR 20,000 crore (USD 2417670), the National Highway network would be extended by 25,000 kilometres in 2022–2023.
At an estimated cost of USD 338 million, the Airports Authority of India (AAI) intends to build new airports as well as extend and renovate several existing airports over the next four to five years. This includes building new terminals, enlarging and modifying existing ones, and bolstering or expanding runways, technical blocks, aprons, and control towers for airport navigation services. Furthermore, three Public-Private Partnership (PPP) airports in Hyderabad, Bengaluru, and Delhi will have spent INR 30,000 crore in expansion plans by the year 2025.
Panels made of corrugated polycarbonate are frequently lightweight and quick to install. They appeal to do-it-yourselfers who want projects they can finish without help from a professional because of this. Corrugated polycarbonate panel manufacturers might provide DIY-friendly forms, such as pre-cut sizes or kits, that make installation easier for people without specialized knowledge or equipment. Because of their versatility, corrugated polycarbonate panels can be used for a wide range of do-it-yourself projects, such as building skylights, wall cladding, greenhouses, and outdoor constructions like sheds and pergolas. Their adaptability makes them more appealing to do-it-yourselfers with a variety of project ideas.
Corrugated polycarbonate panels can have smart technologies built into them to maximize energy efficiency. This comprises elements that enhance energy efficiency and climate management in buildings, such as sensors for automated lighting and shading adjustments. Corrugated polycarbonate panels can be remotely monitored and controlled by incorporating Internet of Things (IoT) devices. Users have convenience and control as they can adjust settings, keep an eye on the surroundings, and get real-time updates. Thus driving the Corrugated Polycarbonate Panels Market revenue.
The Corrugated Polycarbonate Panels Market segmentation, based on type, includes clear polycarbonate panels and colored/tinted polycarbonate panels. The clear polycarbonate panels segment dominated the market. Construction greenhouses frequently use clear corrugated polycarbonate panels. Plants thrive in environments that are best created by letting sunlight through them. Clear panels are projected to be in high demand for greenhouse applications as interest in efficient and sustainable farming methods grows.
The colored/tinted polycarbonate panels segment is expected to be the fastest-growing segment of the Corrugated Polycarbonate Panels Market during the forecast period. Polycarbonate panels that are colored or tinted are frequently utilized in architectural settings where aesthetics are important. With the use of these panels, architects can improve the facades, structures, and buildings' aesthetic appeal. Companies and commercial buildings can choose colored polycarbonate panels to complement their branding colors. With this customization option, buildings that are aesthetically consistent and branded can be created.
Figure 1: Corrugated Polycarbonate Panels Market, by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Corrugated Polycarbonate Panels Market segmentation, based on application, includes construction material, automotive, industry, electrical & electronics, and others. The construction material segment has the largest market share. Corrugated polycarbonate panels are less heavy than conventional materials like metal or glass. Because of this feature, they are less difficult to handle during installation, carry less structural weight and may result in cost savings for building projects.
Throughout the forecast period, the corrugated polycarbonate panels market’s automotive segment is anticipated to grow at the quickest rate. Headlamp coverings made of polycarbonate are used in automobiles. It offers good clarity, good resilience to impacts, and the capacity to mold intricate designs. Polycarbonate's lightweight nature enhances fuel efficiency.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Corrugated Polycarbonate Panels Market area will dominate this market, owing to buildings increasingly aiming to optimize natural light for energy efficiency and well-being. Corrugated polycarbonate panels are anticipated to become more popular in North America, where energy-efficient building methods are highly prized due to their ability to provide workable daylighting options. It is anticipated that the development of greenhouses using corrugated polycarbonate panels will increase in the agriculture industry. The agricultural sector in North America, which includes both small-scale horticulture and large-scale commercial farming, may increase demand for these panels in greenhouse applications.
Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CORRUGATED POLYCARBONATE PANELS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Corrugated Polycarbonate Panels Market accounts for the second-largest market share because weather-resistant and long-lasting materials are in demand as renewable energy initiatives, including solar panel installations, gain more attention. The market can increase by using corrugated polycarbonate panels as protective coverings or in conjunction with solar panels. Further, the Germany Corrugated Polycarbonate Panels Marke the ld the largest market share, and the UK Corrugated Polycarbonate Panels Market was the fastest-growing market in the European region.
The Asia-Pacific Corrugated Polycarbonate Panels Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the creation of public buildings, roadways, and airports, which are among the many infrastructure development projects in which Asia Pacific countries are actively engaged. For these projects, corrugated polycarbonate panels could be used for skylight installations, cladding, and roofing. Moreover, China’s Corrugated Polycarbonate Panels Market held the largest market share, and the Indian Corrugated Polycarbonate Panels Market was the fastest-growing market in the Asia-Pacific region.
The Corrugated Polycarbonate Panels Market is continuing to grow as a result of major players investing heavily in R&D to expand their product offerings. Market participants are also taking part in a number of strategic initiatives in an effort to strengthen their global footprint. The industry has seen significant developments with the launch of new goods, agreements, mergers and acquisitions, higher investment, and collaboration with other companies. For the corrugated polycarbonate panels industry to expand and prosper in a market that is becoming more competitive and expanding, it must offer reasonably priced products.
Manufacturing locally to save operating costs is one of the main business tactics utilized by manufacturers in the worldwide corrugated polycarbonate panels industry to support clients and expand the market sector. Some of the greatest advances in medicine in recent years have come from the corrugated polycarbonate panel industry. Major players in the corrugated polycarbonate panels market, including Sabic, Covestro, Palram Industries, UG-Plast, Plazit Polygal, Gallina, Verzatec Group, Brett Martin, Carboglass, SafPlast, Arla Plast AB, Giplast, Corplex, Isik Plastik, Aoci Decoration Material, Jiasida Sunsheet, Polycasa, and others, are attempting to increase market demand by investing in research and development operations.
Covestro is a company that supplies advanced polymers. It creates and produces polycarbonates, specialty chemicals, coatings, adhesives, and other specialties using raw ingredients for polyurethanes and their derivatives. In addition, the company makes and markets chlorine and its byproducts, such as styrene. The company offers its products and services to a wide range of industries, including furniture, wood processing, automotive, electronics, fashion, sportswear, health, and chemicals. It runs technical support centers, sales offices, and research labs throughout the world. In October 2023, the first-ever mechanical recycling (MCR) compounding line for polycarbonates started up at Covestro's integrated plant in Shanghai, China. In response to the growing demand for post-consumer-recycled (PCR) plastics, particularly in applications within the automotive, consumer goods, and electrical and electronic product sectors, this line is set to produce over 25,000 tonnes of premium-quality polycarbonates and blends containing mechanically recycled materials annually.
Palram Industries is a prominent global producer of panel systems, semi-finished extruded thermoplastic sheets, and completed products. Palram sheets are made mostly of PVC and polycarbonate. They are intended for a wide range of uses in a variety of areas, including construction, DIY, glazing, agriculture, architectural projects, and manufacturing. The panel systems are provided to the architectural and construction industries as a part of a sophisticated services package. DIY chain stores are used globally to promote a wide range of finished products.
April 2023: The opening of Trinseo's polycarbonate (PC) dissolving pilot plant in Terneuzen, the Netherlands, was announced. This is a significant step towards a sustainable future because it will allow them to extract 100% recycled polycarbonate for the creation of new materials.
January 2021: Nusaned Investment, a self-governing investment business under SABIC ownership, held a ceremony in Riyadh to introduce a new brand identity and open a new office building. Increasing its local presence in order to meet market demand was the goal of this growth.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 0.38 billion |
| Market Size 2024 | USD 0.40 billion |
| Market Size 2032 | USD 0.64 billion |
| Compound Annual Growth Rate (CAGR) | 6.00% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Sabic, Covestro, Palram Industries, UG-Plast, Plazit Polygal, Gallina, Verzatec Group, Brett Martin, Carboglass, SafPlast, Arla Plast AB, Giplast, Corplex, Isik Plastik, Aoci Decoration Material, Jiasida Sunsheet, Polycasa, and others |
| Key Market Opportunities | · Growing uses in agriculture and increasing need for energy-saving solutions |
| Key Market Dynamics | · The rising construction industry and growing adoption of renovation & remodeling |
Corrugated Polycarbonate Panels Market Highlights:
Frequently Asked Questions (FAQ) :
The Corrugated Polycarbonate Panels Market size was valued at significant value in 2023.
The global market is projected to grow at a CAGR of 6.00% during the forecast period, 2024-2032.
North America had the largest share of the global market
The key players in the market are Sabic, Covestro, Palram Industries, UG-Plast, Plazit Polygal, Gallina, Verzatec Group, Brett Martin, Carboglass, SafPlast, Arla Plast AB, Giplast, Corplex, Isik Plastik, Aoci Decoration Material, Jiasida Sunsheet, Polycasa, and others.
The clear polycarbonate panels category dominated the market in 2023.
The construction material had the largest share in the global market.
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Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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