PUNE, India, July 11, 2024 /PRNewswire/ -- The report provides
an in-depth analysis of the strategies of the top players in the
Global Polycarbonate industry with an in-depth analysis of the
market segments and regions. A detailed analysis of market dynamics
including drivers, restraints, opportunities, and challenges is
provided region-wise and segment-wise, in the
Global Polycarbonate Market report. It also includes figures
for import/export consumption, supply and demand, price, cost,
revenue, and gross margins which makes it an investor's guide.
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The data for the Global Polycarbonate Market report was
collected using primary and secondary research methods, which were
combined to make the report authentic. The primary research
conducted includes the questionnaire distribution, surveys, and
phone interviews with Global Polycarbonate industry experts, market
leaders, marketing professionals, and entrepreneurs. The bottom-up
approach has been used to estimate the global and regional global
polycarbonate market size. SWOT analysis was used to provide the
strengths and weaknesses of polycarbonate key players in the
industry.
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The Polycarbonate Market size was valued at USD 14.17 Billion in 2023 and the total
Polycarbonate revenue is expected to grow at a CAGR of 5.41% from
2024 to 2030, reaching nearly USD 20.50
Billion by 2030. APAC is estimated to contribute 57.34% to
the growth of the global market during the forecast period. MMR's
analysts have provided extensive insight into the market
forecasting, detailing the regional trends and drivers influencing
the market's trajectory during the forecast period.
Competitive Landscape
The Polycarbonate Market includes the presence of several global
as well as regional key players. A few prominent players that offer
Polycarbonate in the market are Mitsubishi
Engineering Plastics Corporation, SABIC, Covestro AG, Ningbo
Zhetie Daphoon Chemical Co. Ltd, Chi Mei Corporation, LOTTE
Chemical Corporation, EXOLON Group GmbH, Trinseo SA, Formosa
Chemicals & Fibre Corp., LG Chem, Teijin Limited, Samyang
Corporation, Idemitsu Kosan Corporation Limited, Centroplast
Engineering Plastics GmbH, Bayer Material Science AG, Royal DSM,
Asahi Kasei Chemical Corporation) and others.
What's New: Recent Additions and Updates?
- Fluctuations in the prices of Polycarbonate.
- Demand and supply scenario for Polycarbonate covering the
production.
- Analysis and forecast of Polycarbonate market size.
- Segmentation and forecast Polycarbonate market based on end-use
and regional division.
- Competing developments such as expansion, greenfield projects/
brownfield expansion, mergers and acquisitions.
Key Player Offerings
- Bayer AG, which now operates as Covestro, continues to innovate
in polycarbonate manufacturing with a focus on sustainability. New
types of polycarbonates have been introduced that increase
sustainability and are more recyclable in line with global
sustainability goals.
- SABIC is focused on expanding its polycarbonate production
worldwide. Emphasis has also been placed on technological
advancements to meet the increasing demand for high-performance
components in the automotive, electronics and construction
industries.
- Teijin Ltd. is active in polycarbonate materials with excellent
thermal resistance and optical properties. They are also investing
in research to increase polycarbonate applications in other areas
such as healthcare and aerospace in many applications.
For more details on the key players and their offerings,
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Market Overview
Growing demand of automotive industry is driving the growth of
polycarbonate market globally. Polycarbonate market growth is
driven by growing economies and rising consumer demand, especially
in emerging economies such as India and China. Moreover, increasing consumer demand is
also fuelling the polycarbonate market growth. Polycarbonate blends
with various polymers such as ABS, thermoformed PC films and
polyester, are witnessing high demand in the industrial sector.
Growing demand for these blends is driving the polycarbonate market
growth. Industrial applications of polycarbonate are also highly
demanded by consumers, thus supporting the growth of the overall
polycarbonate market. In the medical field, polycarbonate is used
to make devices such as surgical instruments, as well as other
surgical alternatives. Other innovative and advanced technologies
in the industry, such as sensors, service robots and LED
luminaires, are further pushing the growth of the polycarbonate
market. The growing demand in North
America is driven by the growth of end-use industries such
as the automotive industry. Polycarbonate is used in automobiles
because of its weight characteristics, as well as its high impact
resistance. Growing domestic industry in Europe has driven the polycarbonate market.
The region also sees an increase in demand for
electronics.
Segment Overview
MMR has segmented the market based on by Product(Sheets/Films,
Fibers, Blends, Tubes and Other Product Types) by Grade( Injection
Molding, Extrusion, Others) by Application( Automotive and
Transportation, Electricals and Electronics, Construction
Applications, Medical, Other Applications) and Region (APAC,
Europe, North America, Middle East and Africa, and South
America).
The electronics industry is the end-use segment in the
polycarbonate market, accounting for more than 47.42% of the
polycarbonate market in 2023 (in terms of volume). China is the largest consumer of
polycarbonate, with nearly half of its demand (by volume) coming
from the country's electrical and electronics sectors. Electrical
and electromagnetic equipment slowly moves from expensive to
inexpensive materials. China
remains a strong and healthy market for electronics
manufacturers, thanks to the country's low labor costs and flexible
policies.
The demand for spike temperature resistance, high service
temperature, ductility and toughness in thin sections, and
non-flammability features in the material being used in electrical
and electronics has further increased the demand for polycarbonate,
since it is capitalized on its collective safety features. Further,
polycarbonate materials fulfil quality and safety requirements,
such as heat resistance and electrical insulation. This is expected
to drive the demand for polycarbonate in electrical and electronics
industry, further driving the growth of the polycarbonate
market.
Geography Overview
Asia-Pacific dominated the
market and accounted for over 57.0% of the global revenue in 2023.
The higher share is attributed to the availability of more raw
materials and low-cost labour, which attracts manufacturers from
various industries. This manufacturer continues to focus its
production in the Asia-Pacific
region to maximize profitability. In 2024, the value of
polycarbonate projects under construction in China is expected to reach USD 1.93 trillion. The country's central
bank could ease the use of liquidity through a less aggressive
monetary approach, providing funds for new housing start-ups. The
Italian construction sector is expected to grow due to favourable
government policies on foreign direct investment (FDI) in
manufacturing. Furthermore, government initiatives to invest in
energy, residential, commercial and construction sectors are
expected to boost the demand for polycarbonate over the forecast
period. The growing construction and real estate sector in the
country is likely to fuel the demand for furniture, thereby
boosting the market growth of polycarbonate during the forecast
period.
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Global Polycarbonate Market 2023-2027: Key Highlights
Market Size in
2023:
|
14.17 Bn
|
Market Size in
2030:
|
20.50 Bn
|
CAGR:
|
5.41 %
|
Forecast
Period:
|
2024-2030
|
Base
Year:
|
2023
|
Number of
Pages:
|
229
|
No. of
Tables:
|
138
|
No. of Charts and
Figures:
|
193
|
Regional
Scope:
|
North America, Europe,
Asia Pacific, and Africa, South America
|
Report
Coverage:
|
Market Share, Size and
Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers,
Restraints, Investment Opportunities, and Key Trends, Competitive
Landscape, Key Players Benchmarking, Competitive Analysis, MMR
Competition Matrix, Competitive Leadership Mapping, Global Key
Players' Market Ranking Analysis.
|
- Historic Market Size 2017-2023
- CAGR of the market during 2024-2030.
- Detailed information on factors that will assist Polycarbonate
market growth during the next seven years.
- An estimation of the Polycarbonate market size and the impact
of country's GDP on Polycarbonate market.
- Forecasts on upcoming trends and changes in consumer
behaviour.
- The growth of the Polycarbonate market
- Analysis of the competitive landscape and detailed information
on companies.
- Comprehensive details of factors that will impede the growth of
Polycarbonate companies.
Related Reports:
Polycarbonate Composites Market size was valued at
USD 2.34 in 2023 and the total
Polycarbonate Composites Market revenue is expected to grow at a
CAGR of 4.2 % from 2023 to 2030, reaching nearly USD 3.10 Billion in 2030.
Polycarbonate Resins Market size is expected to
reach nearly US$ 2.45 Bn. by 2030
with the CAGR of 5.18% during the forecast period.
Anti-Fog Polycarbonate Films and Sheets Market was
valued US$ 1.68 Bn in 2023 and is
expected to grow US$ 2.55 Bn by 2030,
at a CAGR of 6.1% during the forecast period.
Polycarbonate Panels Market size was valued at
US$ 1.98 Bn. in 2023 and the total
Polycarbonate Panels revenue is expected to grow at 5.1% through
2023 to 2030, reaching nearly US$ 2.81
Bn.
Polycarbonate Diols Market size is expected to reach
nearly US$ 435.92 Mn. by 2030 with
the CAGR of 5% during the forecast period.
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