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North America Polycarbonate Sheets Market is expected to reach US$ 513.82 million by 2030

North America Polycarbonate Sheets Market is growing at a CAGR of 4.9% to reach US$ 513.82 million by 2030 from US$ 350.71 million in 2022 by Product Type.

By The Insight Partners

Increasing Demand from Residential and Nonresidential Sectors Drives North America Polycarbonate Sheets Market Growth

The North America polycarbonate sheets market is expected to grow from US$ 350.71 million in 2022 to US$ 513.82 million by 2030; it is expected to register a CAGR of 4.9% from 2022 to 2030.

Polycarbonate sheets are known for their high impact resistance, transparency, UV resistance, durability, and versatility. Thus, homeowners and builders are increasingly turning to polycarbonate sheets for applications such as roofing, skylights, and wall claddings. Furthermore, the growing emphasis on energy efficiency and sustainability in residential construction propels the demand for polycarbonate sheets. These sheets are often used in energy-efficient building designs to enhance natural lighting while maintaining insulation properties. This reduces energy consumption and aligns with the environmental goals of many construction projects, contributing to the market's growth. Residential building construction is the largest segment of the US construction market. The market for this segment is fueled by increasing government spending on residential construction and rising demand for new homes and building improvements. The new government spending from the Infrastructure Bill and budget earmarks to promote energy-efficient construction, which generates additional demand for residential projects. Further, since the COVID-19 pandemic, the growth in the total value of newly built homes in North America has accelerated. The growth in new home values came amid a period of historically low-interest rates as the US Federal Reserve attempted to stimulate the economy during the COVID-19 pandemic. Furthermore, the pandemic created a demand for housing in areas away from crowded cities, and many home-bound workers decided to invest in home improvement projects. According to researchers at Freddie Mac, in 2020, the US had a 3.8-million-unit deficit in housing supply. These 3.8 million units are needed to meet the demand from the growing number of households and maintain a target vacancy rate 13%. Owing to all these factors, the growing residential construction sector drives the North America polycarbonate sheets market growth.

North America Polycarbonate Sheets Market Breakdown – by Region

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In the solar panel manufacturing industry, polycarbonate sheets are used as the front and back cover of solar modules to safeguard the delicate photovoltaic cells from environmental elements such as dust, moisture, and UV radiation. Polycarbonate sheets are chosen for this role due to their excellent impact resistance, high optical clarity, and UV stability, which are crucial for ensuring solar panels' long-term efficiency and durability. Moreover, the lightweight nature of polycarbonate sheets is advantageous in the context of solar panels. Lightweight covers reduce the overall weight of solar modules, making them easier to handle during installation. Additionally, lightweight materials help improve the portability of solar panels, which can be beneficial for off-grid or mobile applications. The growing solar energy sector in North America due to rising emphasis on renewable energy sources bolsters the demand for solar panels. The versatility of polycarbonate sheets also allows them to be used in concentrating solar power (CSP) systems, which require durable and heat-resistant materials for their reflectors and protective components. Owing to the growing emphasis on renewable energy generation, governments and major players in the solar power manufacturing industry invest in solar projects. Furthermore, the recyclability of polycarbonate sheets aligns with the sustainability goals of the solar power industry, where environmental responsibility is a priority. Recycling these sheets at the end of their lifecycle contributes to the eco-friendliness of solar panel manufacturing, making polycarbonate an attractive choice for environmentally conscious consumers and businesses. Therefore, the rising use of polycarbonate sheets in the solar power industry would offer lucrative opportunities for the polycarbonate sheets market in North America during the forecast period. Therefore, the rising use of these sheets in the solar power industry would offer lucrative opportunities for the polycarbonate sheets market in North America from 2022 to 2030.  

Plaskolite Inc, Palram Americas Inc, Gallina USA LLC, AmeriLux International LLC, A&C Plastics Inc, United States Plastic Corp, Saudi Basic Industries Corp, TAP Plastics Inc, Brett Martin Ltd, and Arla Plast AB are among the key players operating in the North America polycarbonate sheets market.

Impact of COVID-19 Pandemic on North America Polycarbonate Sheets Market Growth

The North America polycarbonate sheets market witnessed growth before the onset of the COVID-19 pandemic due to the increased use of polycarbonate sheets from the residential & nonresidential construction, automotive, and agriculture industries. The COVID-19 pandemic adversely impacted the economy of North America and slowed down the growth of various industries in 2020. The pandemic adversely affected the manufacturing industry. It resulted in the shutdown of manufacturing facilities, created challenges in procurement of raw materials, and put restrictions on logistic operations. The unprecedented rise in the number of COVID-19 cases across the region and the subsequent lockdown of numerous manufacturing facilities negatively influenced the market growth. Further, the overall disruptions in manufacturing processes, research, and development activities restrained the North America polycarbonate sheets market growth. The severely decreased automotive manufacturing activities reduced the demand for polycarbonate sheets in North America.

The North America polycarbonate sheets market is reviving due to the government's significant measures, such as vaccination drives. The growing demand for polycarbonate sheets from the manufacturing sector is also fueling the market growth. Moreover, various players in the region seek investment opportunities as businesses gain confidence in stabilizing economies and increasing demand, thereby providing the impetus for the North America polycarbonate sheets market share.

The "North America Polycarbonate Sheets Market Forecast Analysis to 2030" is a specialized and in-depth study of the chemicals & materials industry, focusing on the North America polycarbonate sheets market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The North America polycarbonate sheets market is segmented on the basis of product type. In terms of product type, the market is segmented into general purpose grade and flame retardant grade. In 2022, the flame retardant grade segment dominated the market and is expected to be the fastest-growing segment from 2022 to 2030. Flame retardant grade polycarbonate sheets are specialized materials designed to meet strict safety requirements, especially in applications where fire safety is a primary concern. These sheets are engineered with additives that enhance their combustion resistance and reduce the ignition risk. The ability of flame-retardant polycarbonate sheets to self-extinguish when exposed to an open flame is a significant feature of these sheets. This characteristic is crucial for applications where fire hazards exist, such as electrical panels, control cabinets, and public transportation interiors. By preventing or delaying the spread of flames, these sheets contribute to overall safety. Flame-retardant polycarbonate sheets also maintain the desirable properties of standard polycarbonate, including high impact resistance and optical clarity. Therefore, they are suitable for use in environments where safety and visibility are paramount, such as emergency exit signs, safety glazing, and protective enclosures. Additionally, these sheets are often used in the construction of aircraft interiors, where strict fire-retardant properties provide an added layer of protection in case of emergencies. All these factors boost the North America polycarbonate sheets market growth for the flame retardant grade segment.

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