Polycarbonate Market (By Application: Automotive & Transportation, Construction, Packaging, Consumer Goods, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030.

Published Date : Jun 2022 | No. of Pages : 150+ Pages | Category : Chemical and Material

The global polycarbonate market was surpassed at USD 21.9 billion in 2021 and is expected to hit around USD 35.6 billion by 2030, growing at a CAGR of 5.55% from 2022 to 2030.

Polycarbonate Market Size 2021 to 2030

Regulatory policies are encouraging automotive OEMs to utilize plastics as a means of reducing vehicular weight & improving fuel efficiency. This is anticipated to play a prominent role in driving market growth.

 Polycarbonate is a completely recyclable polymer and is therefore favored as a substitute for PVC, particularly in medical devices. In comparison, PC resins offer greater tensile strength & flexural modulus, meaning that they can be easily processed and even blended with other resins such as styrene copolymers and PBT. In the recent past, regulations aimed at reducing plastic wastage highlighted the importance of recycling. PC resins being completely recyclable are expected to benefit from such regulations, and in turn, ease up global supply constraints. 

The electrical & electronics segment remained the dominant application area, accounting for more than 24.0% share of the overall consumption in 2021. In the electronics sector, polycarbonate is widely used for producing power housings, connectors, household appliances, and battery boxes. On the other hand, the resin’s optical clarity has led to its increasing usage in headlamps, face shields, laminates, and windshields in the automotive and transportation sector. 

Scope of The Report

Report Coverage Details
Market Size in 2021 USD 21.9 billion
Revenue Forecast by 2030 USD 35.6 billion
Growth rate from 2022 to 2030 CAGR of 5.55%
Base Year 2021
Forecast Period 2022 to 2030
Segmentation Application, region
Companies Covered Covestro; SABIC; Lotte Chem; Teijin Industries; Mitsubishi Engineering Plastics Corp.; Trinseo; Idemitsu Kosan Co. Ltd.; Lone Star Chemical; Chi Mei Corporation; Entec Polymers; RTP Company; LG Chem

 

Application Insights

The electrical & electronics application segment led the market and accounted for more than 24% share of the global revenue in 2021. Polycarbonate resins, blended with other polymers such as PBT and ABS, help to improve the final compound’s impact resistance and high-temperature performance. These compounds are further processed to be used in the fabrication of lighting systems, headlamp lenses, exterior parts, and interior components by automotive OEMs.

Over the recent past, Asian markets that include China, India, Indonesia, Thailand, and Korea have established themselves as regional manufacturing hubs for passenger cars and two-wheelers. High demand for premium passenger vehicles in the region has attracted investments from American and European companies that include Ford, General Motors, Volkswagen.

Polycarbonate demand in electrical and automotive applications has increased tremendously in the recent past. The product is easily moldable and flexible, thus making it ideal for thermoforming applications. Some grades of plastic compounds are tough and strong, whereas others are optically transparent, which makes them easy to be engineered. Furthermore, investments in public infrastructure, particularly in metro-rail projects and greenfield airports, will give rise to the demand for PC resins in construction as well as mass transit systems. 

Regional Insights

Asia Pacific dominated the market and accounted for more than 56.0% share of global revenue in 2021. The high share is attributable to the availability of raw materials in abundance and the availability of low-cost labor, which is attracting manufacturers from various industries to set up their production facilities in the Asia Pacific region to derive increased benefits.

In China, the polycarbonate market value in construction is expected to reach USD 1.93 billion by 2024. A non-aggressive monetary stance by the country’s central bank is likely to ease up liquidity, thereby favoring investments in new housing starts.

The Italian construction industry is expected to grow on account of favorable government policies for foreign direct investment (FDI) in the manufacturing sector. Furthermore, government initiatives for investments in energy and residential & commercial construction projects are expected to fuel the demand for polycarbonate during the forecast period. The growth of construction and real estate sectors in the country is likely to augment the demand for furniture, thereby propelling the market growth for polycarbonate during the projection period.

Key Players

  • Covestro
  • SABIC
  • Lotte Chem
  • Teijin Industries
  • Mitsubishi Engineering Plastics Corp.
  • Trinseo
  • Idemitsu Kosan Co. Ltd.
  • Lone Star Chemical
  • Chi Mei Corporation
  • Entec Polymers
  • RTP Company
  • LG Chem

Market Segmentation

  • By Application Outlook
    • Automotive & Transportation
    • Electrical & Electronics
    • Construction
    • Packaging
    • Consumer Goods
    • Optical Media
    • Medical Devices
    • Others
  • By Regional Outlook
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • France
      • Italy
      • Russia
      • Spain
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Taiwan
    • Central & South America
      • Brazil
      • Mexico
    • Middle East & Africa
      • Saudi Arabia

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