Polycarbonate Market Size to Grow at a CAGR of 3.4% in the Forecast Period of 2023-2028

The 'Global Polycarbonate Market Price Report and Forecast 2023-2028' by Expert Market Research gives an extensive outlook of the global polycarbonate market, assessing the market on the basis of its segments like application and major regions.

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.

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The key highlights of the report include:

Market Overview (2018-2028)

• Forecast CAGR (2023-2028): 3.4%

The global polycarbonate market is expected to register growth during the forecast period on account of the increasing demand from industries like construction, automotive and transportation, consumer goods, medical devices, and packaging, among others.

With the growing automotive industry, the demand for polycarbonate is likely to enhance among vehicle manufacturers over the coming years. The growing focus of manufacturers to improve their vehicles and the rising demand for innovative material is expected to increase the market growth of polycarbonate as it offers a highly safe and invisible joining method while also supporting visually appealing interiors.

The surging demand for lightweight automotive components is further expected to boost the demand for polycarbonate materials. This is because polycarbonate is a lightweight and strong material. Polycarbonate plastic in utilised in automotive industry lighting applications like headlamp bezels, headlamp lenses, and light housings. The growing adoption of electric cars is likely to support the polycarbonate market growth as such vehicles require less weight, high toughness, and high heat resistance, among other qualities.

Polycarbonate material producers are extensively investing in product development which is expected to aid the market growth of polycarbonate across the globe. For example, employing special coatings to attain high scratch-resistance durability.

Polycarbonate Industry Definition and Major Segments

Polycarbonate, also called bisphenol A, is a transparent plastic. It is a category of carbonates that has thermoplastic polymers in its chemical structures. It is used in engineering and numerous other industries and applications, in the form of hard and solid materials, and optically transparent grades. This type of plastic is also employed to create light eyeglass lenses and shatter-resistant frames, among other products.

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Based on application, the market is classified into:

• Electrical and Electronics
• Automotive
• Construction
• Optical Media
• Packaging
• Consumer
• Medical

Based on region, the market is divided into:

• North America
• Latin America
• Asia Pacific
• Europe
• Middle East and Africa

Polycarbonate Market Trends

The increasing consumption of electrical and electronic devices is a key trend in the market that is likely to boost the polycarbonate market demand over the upcoming years. This is due to the lightweight and high-impact strength of polycarbonate material. It is generally employed to create enclosures like light housings and pipes for both outdoor and indoor use in electronics and is further expected to push forward the market demand across the globe over the coming time frame.

Geographically, the Asia Pacific region is expected to gain momentum in the polycarbonate market share over the coming years on account of the rising industrialization. This is due to the rapid expansion of economies like China and India and the increase in demand for electronics and mobile phones. The Asia Pacific region is expected to provide significant opportunities for companies, as polycarbonate demand from the construction and automotive industries has grown.

The increasing investments in electric vehicle charging infrastructure by the Indian government, growing production of passenger cars, and improved public infrastructure are likely to propel the demand for polycarbonate materials in the country. Going further, China is expected to hold the market growth of polycarbonate on account of the robust consumer manufacturing industry.

Key Market Players

The major players in the global polycarbonate market report are:

Covestro AG (OTCMKTS: COVTY)
SABIC
Teijin Limited
Mitsubishi Chemical Corporation
Formosa Chemicals & Fibre Corporation
Trinseo S.A.
Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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