June 23, 2024
Foam Core Acrylic Market

Foam Core Acrylic Market is Expected to be Flourished by Growing Demand from Signage industry

Foam core acrylic sheets are lightweight, durable composite sheets made of two thin acrylic skins sandwiching a lightweight foam core. The acrylic skins provide scratch and impact resistance while the inner foam layer adds rigidity and insulation. These lightweight yet durable sheets find widespread application in signage, advertising boards, Point of Purchase (POP) displays and exhibition displays due to their high clarity, weather resistance and low maintenance properties. The demand for foam core acrylic sheets has witnessed robust growth from the signage industry over the years owing to increasing branding and advertisement activities across industries. Foam core acrylic sheets are ideal for outdoor signage applications as they are weather resistant and can withstand extreme temperatures without degradation. Their lightweight yet rigid properties allow easy installation and transportation of large format signs 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 Dynamics:
The growth of the foam core acrylic market is primarily driven by the growing demand from the signage industry. Rapid urbanization and increasing commercial activities have augmented branding and advertisement activities across industries globally. This has spurred the demand for durable, lightweight and weather resistant signage materials like foam core acrylic sheets. Another key driver for the market growth is rising infrastructure development projects like malls, commercial complexes, airports etc. which utilizes foam core acrylic for interior and exterior architectural applications owing to their rigidity, aesthetics and maintenance-free properties.
Segment Analysis
Foam core acrylic market can be segmented into three segments based on form- sheet, block and other forms. The sheet segment holds the largest market share owing to extensive usage in applications like signages, fabrication and interiors. It is easy to fabricate and cut into desired shapes for end-use. The block form finds use in fabrication of thick displays and panels. Other forms include tubing and rods which have specialized applications.

PEST Analysis
Political: Regulations regarding usage of VOCs and other toxic materials during acrylic production impact the market. Export-import duties also affect international trade.
Economic: Rise in economic activities boosts construction and manufacturing sectors driving demand. However, inflation and economic slowdowns impact market sentiments.
Social: Increasing digitalization and focus on interactive displays are key trends. Rapid urbanization augments infrastructure development spurring market growth.
Technological: Advances in machining techniques aid mass customized production. Development of lightweight, durable and transparent acrylic sheets boosts their adoption.

Key Takeaways
The Global Foam Core Acrylic Market Size is expected to witness high growth over the forecast period of 2023 to 2030. 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.

Regional analysis: Asia Pacific holds the largest share mainly due to rapid infrastructure development and industrial growth in China and India. Presence of key acrylic sheet manufacturers also contributes to regional dominance.

Key players: 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. 3A Composites GmbH is a dominant player owing to its vast product portfolio and global distribution network.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it