by Foam core acrylic panels find widespread application across various end-use industries owing to their lightweight and durable characteristics. Foam core acrylic panels consist of a solid acrylic skin bonded to both sides of a low-density core, usually made from polyethylene foam. These panels offer high impact resistance, weatherability, insulation, and easy fabrication.
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 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
The growing construction industry, particularly in developing economies of Asia Pacific and Latin America has been a key growth driver for the foam core acrylic market. Foam core acrylic panels are extensively used in architectural applications such as interior and exterior cladding, signage, and displays owing to their lightweight, durable and weather resistant properties. They do not warp,crack or corrode and have a low maintenance cost. Moreover, foam core acrylic can be easily cut, sawed, routed, drilled or formed according to any shape or design using standard woodworking tools. This has increased their adoption over wood, plastic and metal in various construction applications. The ability of foam core acrylic to withstand harsh outdoor conditions make them suitable for applications in the transportation industry as well.
SWOT Analysis
Strength: Foam core acrylic has high strength, shock resistance and durability which makes it suitable for various heavy duty industrial and commercial applications. It offers high strength to weight ratio which reduces transportation and handling costs.
Weakness: Foam core acrylic requires specialized manufacturing process which increases manufacturing costs. Significant R&D investments are required to develop new products using this material.
Opportunity: Growing construction and automotive industries offer huge opportunities for applications of foam core acrylic panels in interior construction, facade construction and automotive interiors. Increasing adoption of ecofriendly materials will boost the demand for foam core acrylic as it uses recycled content.
Threats: Availability of cheaper substitute materials like foam boards pose threat to foam core acrylic market. Stringent environmental regulations around VOCs emissions can increase manufacturong costs.
Key Takeaways
The global Foam Core Acrylic Market Size is expected to witness high growth during the forecast period of 2023 to 2030 supported by growing end use industries. The market size is projected to reach US$ 97.1 Mn in 2023.
Regional analysis – North America dominates the global market currently due to widespread applications of foam core acrylic in the commercial construction industry in the region. The Asia Pacific foam core acrylic market is expected to witness the fastest growth during the forecast period supported by rapidly growing construction and infrastructure development activities in countries like China and India.
Key players – Key players operating in the foam core acrylic market are 3M, Arkema Group (Bostik SA), H.B. Fuller Company, Henkel AG & Co. KGaA, Master Bond Inc., Nexus Adhesives, Permabond LLC, Pidilite Industries Ltd, Sika AG, and Threebond International Inc. The players are focused on strengthening their distribution networks and launching new range of foam core acrylic products to capitalize on emerging opportunities in Asia Pacific and Middle East regions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
