Polycarbonate Market Research Report: Information by Processing Technology, End-Use and Region - Forecast till 2030
New York, United States of America - February 10, 2022 /MarketersMedia/ —
Polycarbonate Market Overview:
Polycarbonate, a thermoplastic polymer, has features like high impact strength and extraordinary toughness at mild temperatures. It commonly appears in a transparent crystalline state and finds a lot of application across industries. 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.
Several industries like construction, aerospace, automotive, electronics, railways, and medical are expected to take the onus of furthering the global polycarbonate market by fetching in notable revenue. Its features like lightweight, better durability, high heat & tear resistance, and easy processability are triggering its popularity.
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.
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Competitive Analysis
Several companies are investing substantially in the growth of the polycarbonate market. MRFR profiled a few like
Covestro (Germany),
Teijin Limited (Japan),
Mitsubishi Engineering Plastics Corp. (Japan),
LG Chemicals (South Korea),
EVONIK INDUSTRIES AG (Germany),
Formosa (U.S.),
Asahi Kasei Chemical Corporation (Japan),
Idemitsu Kosan Co. Ltd. (Japan),
SABIC (Saudi Arabia), and
Bayer AG (Germany),
among others to get a comprehensive market picture.
Drivers
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.
Opportunities
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.
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Polycarbonate Market Segmentation:
MRFR has made a detailed study of the global polycarbonate market by segmenting the market on the basis of application. Such a segmentation relies heavily on volume-wise and value-wise market analysis and their factors and figures. This allows a closer perspective of the micro and macro factors.
Based on the application, the global polycarbonate market comprises building & construction, automotive, electrical & electronics, packaging, medical devices, consumer goods, and others. Among these, the automotive segment is expected to gain some strong tailwind as the use of polycarbonate for various designs and aesthetic upliftment in cars is quite prolific. The electrical & electronics segment is also expected to benefit from growth of the polycarbonate industry.
Regional Overview
The global polycarbonate market in MRFR reports has been studied with five major regions in sight. These regions are North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America. Such a review of the market aims at the identification of growth pockets, which the major market players can explore for better profitability.
The APAC market has the lion’s share in the market and it is on a growth curve as several industries are popping up to capitalize on the cost-affordable labor and easy access to resources. This regional growth can be assessed by the rapid urbanization and industrialization rates. This has posed favorable conditions for the market to consider various expansion opportunities. Government initiatives are also favoring the regional mapping of the growth chart. Their policies and funding for infrastructure are benefiting regions like India, Japan, South Korea, Malaysia, and China. Transportation is also having a remarkable change, along with other factors like changing lifestyles, rising disposable incomes, and transforming consumer trends. The automotive sector is witnessing substantial growth, which is expected to ensure strong rise in demand for polycarbonates.
The market of North America is Expected to retain its second position by garnering substantial revenue from the construction and automotive sectors. The packaging industry, in the region, is also registering remarkable transformation. Europe’s market is getting tractions from countries like the U.K., France, Germany, Italy, and Belgium. Robust automotive industry is providing the maximum market share. Other industrial applications are also expected to play a pivotal role in transforming the regional market. The MEA market and Latin American region are expected to register a small share of the global market. This is due to lack in industrial growth. However, the scene is expected to change with countries like Qatar, Saudi Arabia, Brazil, Israel, Dubai, and others initiating various steps to transform both these regional markets.
Recent Developments
November 2021-A prominent leader in polymer production, Covestro, announced the launch of the latest durable materials named Makroblend® M5005 FR, a medical polycarbonate/polyester blend, and Makrolon® M6011 FR, a medical polycarbonate, for medical devices housings and hardware. The latest products provide a distinguished configuration of properties that enhance chemical resistance as we use the next-generation flame retardants.
Table of Content
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Assumptions & Limitations
2.4 Market Structure
2.5 Key Takeaways
3 Market Insights
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
5 Market Dynamics
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Challenges
5.6 Trends
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