Polycarbonate Market Overview
Polycarbonate Market is projected to be worth USD 30.18 Billion by 2030, registering a CAGR of 6% during the forecast period (2022 - 2030), The market was valued at USD 17.86 billion in 2021.
PC or Polycarbonates are formed with the cluster of thermoplastic polymers that contains carbonate groups in their basic chemical structure. It offers a variety of properties, such as moisture resistance, good heat absorption, and chemical as well as electrical resistance. It also provides oxidative and thermal stability to a substance. In the polymerization process, PC resins are formed which are then converted to pellets. It can be further processed by using injection molding and other extrusion techniques. This material is popularly used in making electronic devices, products used by the automotive industry, and construction materials. Its process of manufacturing is completely eco-friendly and recyclable.
COVID 19 Analysis
People across the globe are being affected by Coronavirus, the global pandemic. It has negatively impacted the operations of all the industries, except for the pharmaceutical industry. There has been a complete lockdown situation in almost every part of the world and people are forced to stay at their homes. Every nation has sealed their borders which mean no international travel will be possible shortly. The businesses are also being shut down due to which many people were laid off from their workplaces. This has affected the Polycarbonate Market Growth as well.
It is being anticipated that post the Covid19 situation, Global Polycarbonate Market Share will grow tremendously. Polycarbonates are highly demanded in the medical and healthcare industry for the production of several devices. It can also be used as a substitute for traditional materials, such as glass and acrylic. Global manufacturers of medical devices are developing products made up of polycarbonates to fulfill the shortage of medical equipment required to fight the Covid19 situation.
The list of major Global Polycarbonate Market Key Players is as follows:
These companies form joint ventures or come together in partnerships for certain projects, mergers, and acquisitions to make technological advancements. They strive to develop end-products and services that are unique, cost-effective, and proficient in working and can deliver accurate solutions to the respective problems.
Innovative productions in the electrical industry such as switching relays and connectors, sensor parts and lights, LCD and LED sections, smartphones, and computers are also driving the polycarbonates market. These are also used in the manufacturing of wire insulation and coverings as polycarbonates can act as good thermal insulators.
The increased production and commercialization of bio-based polycarbonates has led to the growth of its market. Polycarbonate sheets are highly demanded by the construction industry. These are also utilized in the production of hardware gadgets and optical equipment. It is highly demanded by the automotive industry owing to its lightweight.
There are many close substitutes for Polycarbonates available in the market. This may hinder the growth of the global polycarbonate industry. The rules and regulations of production and usability of polycarbonates are also very stringent.
Value Chain Analysis
The demand for such a material that has high-temperature resistance, high service temperature, ductility as well as toughness is very high. Polycarbonates can be converted into thin sheets and sections that are inflammable. Furthermore, this material fulfills the benchmark set by various authorities regarding quality and safety control. It provides complete heat resistance and is a good material for electrical insulation. Owing to its lightweight and shatter-resistant characteristics, polycarbonates are highly used in housing material, production of cell phones & computers, and other electronic devices. This material can efficiently withstand a collision or breakage with a hard surface and is scratch-proof.
According to the global Polycarbonate Market Analysis, its market can be divided into various segments. These are based on processing technology and based on end-users.
Based on processing technology
Based on end-users
The end-user industries of the polycarbonates market are Electrical & Electronics, Optical Media, films, and sheets, Consumer goods and home appliances, Packaging material, Medical and healthcare, automotive, construction, and others.
The Global Polycarbonate Market Value is increasing rapidly. It is leaving a huge impression in every part of the world owing to its specialization and advancements. The regions of the operation of its Global market include regions of America, Europe, Asia-pacific, and the rest of the world.
American region, which includes the area of North America (the US and Canada) and Latin America, provides a good market share of the polycarbonate industry. This owns to the rise in demand for electronic products.
The European region, which includes Germany, UK, France, Russia, and Italy, is also expanding and holds the second-largest market share of the polycarbonates industry. This owns the robust automotive sector and well as growth in the production of high-end electronic goods. The medical and healthcare, IT and communications, and defense sector is also pushing its market.
The Asia-Pacific region includes countries such as China, Japan, India, Australia, and South Korea, which is growing tremendously throughout the forecasted period. The developing countries are providing a promising market. This owns to a rise in the electronic industry in countries like India and China. The governmental policies are not very stringent and the cost of labor is also very cheap in these nations.
The rest of the world, which includes the region of the Middle East and Africa, is growing at a slower but constant rate. The automotive industry is at a boom in the areas such as UAE, Saudi Arabia, and Egypt which is driving the polycarbonates market.
The various recent activities found in the Global Polycarbonate Market Forecast are as follows:
This report about the global Polycarbonate Market Trends includes the following elements:
This research report provides a comprehensive study about the global Polycarbonate Market Outlook. It includes a thorough analysis of its market trends and the areas of new advancements. The tremendous increase in the production and selling activities of the automotive industry has pushed the Polycarbonate market as well.
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Processing Technology, End-User|
|Key Market Opportunities||Increasing consciousness about safety|
|Key Market Drivers||
The global PC market was valued at USD 17.86 billion in 2021.
The market is expected to exhibit a solid 6% CAGR over the forecast period from 2022 to 2030.
Asahi Kasei Chemical Corporation (Japan), Idemitsu Kosan Co. Ltd. (Japan), Covestro (Germany), Teijin Limited (Japan), Mitsubishi Engineering Plastics Corp. (Japan), LG Chemicals (South Korea), EVONIK INDUSTRIES AG (Germany), Formosa (U.S.), SABIC (Saudi Arabia), and Bayer AG (Germany), among others.
The easy availability of substitutes and environmental restrictions on the production of polycarbonate are the major restraints on the global PC market.
The Asia-Pacific is growing tremendously throughout the forecasted period. This owns to a rise in the electronic industry in countries like India and China. The governmental policies are not very stringent and the cost of labor is also very cheap in these nations.
Polycarbonates are produced by extrusion and molding processes. The molding process can further be divided into injection molding, blow molding, and many others.
The growing demand for PC in the electronics and automotive industries is the leading driver for the global polycarbonate market.