The latest report by IMARC Group, titled “Polycarbonate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global polycarbonate market reached a value of US$ 9.57 Billion in 2021. Polycarbonates are a group of transparent amorphous polymers that provide oxidative and thermal stability. They also offer a variety of properties such as moisture resistance, enhanced heat absorption, and resistance to chemicals and electricity. In comparison to thermoplastic polymers, polycarbonates can be readily bent at room temperature through localized heating to reduce stress fracturing. As a result, they find applications in electronic devices, automotive components, construction materials, and household appliances like TV, power housing, connectors, and battery boxes.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Polycarbonate Market Trends:
The market is primarily driven by the significant growth of the electrical and electronics industry. Polycarbonates act as good thermal insulators, due to which they are widely used in the manufacturing of wire insulation and coverings. In the construction industry, polycarbonate sheets are utilized in the production of optical equipment, which, in turn, is fueling the growth of the market. Besides this, the market is positively impacted by the usage of plastics by automotive OEMs to reduce vehicular weight and improve fuel efficiency in automobiles. They can also be easily processed and blended with other resins such as styrene copolymers and PBT to manufacture headlamp lenses, lighting systems, and exterior and interior components. In addition, the recyclable nature of polycarbonates makes them suitable for utilization in medical devices. Furthermore, technological innovations in the electrical industry, coupled with the increasing production and commercialization of bio-based polycarbonates, are significantly impacting the growth of the market. Looking forward, the market is expected to reach a value of US$ 13.28 Billion by 2027, exhibiting a CAGR of 6.02% during the forecast period (2022-2027).
- Based on the product type, the market has been segmented into sheets and films, fibers, blends, tubes, and others.
- On the basis of application, the market has been classified into automotive, electrical and electronics, construction, sports and recreational, optical media, appliances and housewares, packaging, medical and ophthalmic, and others.
- The report also covers import trends, import breakup by country, export trends, and export breakup by country.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Chi Mei Corporation, Covestro AG, Formosa Chemicals & Fibre Corporation, Idemitsu Kosan Corporation Limited, LG Chem, Lotte Chemical Corporation, Mitsubishi Engineering Plastics Corp., SABIC, Teijin Limited, and Trinseo PLC.
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