According to ChemAnalyst report, “Global Polycarbonate Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2032”, The Polycarbonate market will likely experience a significant rise in the historic period of 2015-22 and is expected to grow at a CAGR of 4.28% during the forecast period by 2032. The rising demand from into Electrical & Electronics, Automotive, and Construction end-use industries, is expected to swell up the demand for the Polycarbonate market in the forecast period.
Polycarbonate is a thermoplastic polymer with organic functional groups connected by carbonate groups (-O-(C=O)-O-). Due to its unique properties, which include high durability, mouldability, and heat and thermal insulation, this high-performance polymer is frequently utilized as an engineering plastic. Polycarbonate is a versatile polymer with applications in numerous sectors such as automotive, construction, electronics, etc. Several corresponding pieces of equipment for the electrical and electronic industries are made of polycarbonates. Switching relays, sensor components, connectors, cell phones, LCD panels, and computers are some of the parts manufactured using polycarbonate due to its low weight and high impact resistance.
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The primary driver of the Polycarbonate global market is the Automotive sector. In the automotive industry, Polycarbonate is used for the production of lightweight exterior and interior parts. Due to its unique properties, PC enable automobile manufacturers to incorporate sleek curves and desirable designs for automobiles while reducing the weight of its components by up to half. The major exterior automotive applications served by polycarbonates and polycarbonate blends include automotive glazing, panoramic roof panels, backlights, and side windows. Rapidly growing consumer demand for stylish automotive designs formulated with component functionality besides maintaining its luxurious appearance would boost the demand for Polycarbonate in the forecast period. Due to its high impact and shatter resistance, Polycarbonate finds uses in electronic devices such as cell phones, computers, electrical chargers, gaming boxes, battery covers, and others. Growing demand for more innovative and technologically advanced gadgets is anticipated to further support the market growth in the upcoming years. Additionally, in the medical sector polycarbonate is used as a replacement for steel and glass for manufacturing instrumentation used in surgery, hemodialysis, drug delivery systems, blood reservoirs, blood filters, etc., that contributes to the polycarbonate market.
The global Polycarbonate market is segmented based on end-use, sales channel, and region. Based on the end-user industry, the global Polycarbonate market is segmented into Electrical & Electronics, Automotive, Construction, and Others. Among these, the Electrical & Electronics sector is dominating the Polycarbonate market. In 2022, this sector held about 60% of the market share and will most likely stay so in the forthcoming years due to production of advanced and innovative electronic gadgets every year.
Regionally, the Asia Pacific region is dominating the Polycarbonate market. This region held a market share of approximately 65% in 2022 followed by Europe. Rapidly growing electrical & electronics industry coupled with the increased consumer spending on electronic goods coupled with the multiplying population in developing countries like India, Japan, and China are imposing a higher demand for Polycarbonate for fabricating these goods. Based on production, Asia Pacific region is dominating the Polycarbonate market with China being the key player.
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“Global Polycarbonate Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2032” Major players in the production of Global Polycarbonate are Covestro AG, SABIC, Mitsubishi Engineering-Plastics Corporation, Lotte Chemical Corporation, LG Chem, Formosa Chemicals & Fibre Corp., Teijin Limited, Chi Mei Corporation, Idemitsu Kosan Co. Ltd. (Japan), Zhongsha (Tianjin) Petrochemical, SABIC-Sinopc JV, SHELL-CNOOC, LG Dow polycarbonate, Lutianhua Zhonglan New Materials, Wanhua Chemical, and Others.
“Being linked to the Automotive, Construction, Electrical and Electronics industry, the global Polycarbonate industry has shown a robust growth alongside growing population across the globe. Due to its unique properties such as light-weight nature, high resilience, chemical & electrical resistance, it is likely that the Polycarbonate market will most likely witness an expansion in the forecast period. With rise in urbanization, the rise in demand of new and trendy electronic gadgets and increase in the sale of vehicles is anticipated to rise, creating a demand for Polycarbonate in the forecast period by 2032. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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