Global Polycarbonate Market Insights Forecasts to 2030

• The global polycarbonate market was valued at USD 21.8 Billion in 2021.
• The market is growing at a CAGR of 5.7% from 2022 to 2030
• The global polycarbonate market is expected to reach USD 35.90 Billion by 2030
• Asia Pacific is expected to grow the fastest during the forecast period

The global polycarbonate market is expected to reach USD 35.90 Billion by 2030, at a CAGR of 5.7% during the forecast period 2022 to 2030. The polycarbonate market has grown due to the increasing demand for sustainable polymers with excellent impact and temperature resistance properties in various industries like medical devices, packaging, automotive etc.

Market Overview

Polycarbonates are amorphous polymers that can be molded easily. Polycarbonates are extensively used in various sectors such as electronics and electrical, construction, medical device etc. Polycarbonates posse’s excellent characteristic properties, which are responsible for the increasing demand for polycarbonates in various sectors. In addition to being strong, stiff, hard, tough, transparent, and tough as well as rigid up to 140°C, polycarbonates are also tough down to -20°C with special grades maintaining their toughness at even lower temperatures. The excellent impact, temperature resistance, and light transmission properties of polycarbonates make them a perfect polymer to be used in the automotive sector in lighting applications. The COVID-19 outbreak affects the market's growth, with rising cases and complete lockdowns across the world, resulting in low production in various industries like electronics and electrical, automotive etc., which consequently affects the growth of the polycarbonate market. But the increased demand for polycarbonates in the medical sector increased during the pandemic. The demand for efficient and innovative medical instruments increases during the pandemic, which helps the polycarbonate market maintain a sustainable position. Post-COVID-19, the market growth propelled as all the sectors affected during the pandemic started their production processes. Moreover, the ability of polycarbonates to act as barriers for sound waves will also propel the market's growth in upcoming years, mainly in the corporate areas in meetings and conference halls etc.

Market Dynamic:

Drivers:

•  Increased demand in the electronics and electrical sector

The demand for polycarbonate in the electronics and electrical sector is driving the growth of the polycarbonate market.The unobstructed transmission of wireless and radio frequencies is the advantage of polycarbonate enclosures for protecting wireless technology. Moreover, polycarbonate is a good conductor of electricity, due to which it is widely used in the electrical and electronic industry.

Restraints:

• Polycarbonate sheets impact on environment

Polycarbonates are not environmentally-friendly which is a major restraining factor hampering the growth of the market. Polycarbonate is a petroleum product due to which it does not degrade easily. In addition, when the chemicals leached out from polycarbonates get mixed with water it affects marine life. Moreover, rising awareness about the use of environment-friendly resources is also affecting the market growth.

Opportunities:

• Rising demand from the construction sector

Polycarbonate is a thermoplastic highly suited to construction and building products, including windows, skylights, wall panels, roof domes, and exterior lighting elements.Unlike glass, acrylic, or GRP, polycarbonate does not deteriorate over time when installed as the building is used. Additionally, unlike GRP, polycarbonate does not become brittle over time.

Challenges:

• High cost

The rising demand for polycarbonates in various end-user industries is driving the market growth. But the market is facing so many challenges due to the high cost of polycarbonate. A combination of rising feedstock prices and a demand for polycarbonate in the downstream sector has led to a rise in global polycarbonate prices. Due to rising prices, consumers are shifting towards other alternatives present in the market.

Report Coverage

This research report categorizes the market for global polycarbonate based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global polycarbonate market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global polycarbonate market sub-segments.

Segmentation Analysis

• In 2021, the sheets segment accounted for the largest share of the market, with 18.10% and market revenue of 3.9 billion.

Based on type, the polycarbonate market is categorized into foil, strips, sheets, film, plates, tubes, fibres and others. In 2021, the sheets segment accounted for the largest share of the market, with 18.10% and a market revenue of 3.9 billion. The increased demand for polycarbonate sheets is due to their numerous advantages, like lightweight, durability, crack resistance etc. Polycarbonate sheets have replaced glass and acrylic in various applications, which accounts for the largest share in the growth of the polycarbonate market.

• In 2021, the extrusion segment accounted for the largest share of the market, with 55% and market revenue of 11.99 billion.

Based on the processing technology, the polycarbonate market is categorized into molding and extrusion. In 2021, the extrusion segment accounted for the largest share of the market, with 55% and a market revenue of 11.99 billion. The demand for extruded polycarbonates is increasing in the electronics and electrical industry due to of its temperature and impact resistance properties. Its outstanding light transmission property makes it a good fit for various light applications.

• In 2021, the construction segment dominated the market with the largest market share of 17.8% and market revenue of 3.88 billion.

Based on the end user, the polycarbonate market is categorized into construction, medical devices, electronics and electrical, optical media, packaging, automotive and others. In 2021, the construction segment dominated the market with the largest market share of 17.8% and market revenue of 3.88 billion. The demand for polycarbonate sheets is rising in the construction segment because of the physical properties of the sheet. Polycarbonate sheets are lightweight, can be used easily in the construction processes, highly ductile and have great strength, which results in the increased demand for polycarbonate in the construction segment.

Regional Segment Analysis of the Polycarbonate Market

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America emerged as the largest market for the global polycarbonate market, with a market share of around 38.20% and 2.7 billion of the market revenue in 2021.

• In 2021, North America emerged as the largest market for the global polycarbonate market, with a market share of around 38.20% and 2.7 billion of the market revenue. North America is expected to be the largest market. The expansion in the electronics and electrical and construction segment accounts for the largest part in the growth of polycarbonate market which will keep on increasing in future also.

• Asia Pacific market is expected to grow at the fastest CAGR between 2021 and 2030. The increased demand for polycarbonate sheets in the construction segment is responsible for the propelled growth of polycarbonate market in the region.

Competitive Landscape

The report offers the appropriate analysis of the key organizations/companies involved within the global polycarbonate market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Market Players:

• L G Chem
• Lone Star Chemical
• Entec Polymers
• Chi Mei Corporation
• Mitsubishi Engineering Plastics Corp.
• SAMYANG CORPORATION
• Teijin Limited
• Bayer Material Science AG
• Royal DSM
• Asahi Kasei Chemical Corporation
• Excelite
• Arla Plast AB
• Suzhou Omay Optical Materials Co., Ltd.
• Lotte Chemical Corporation
• SABIC
• Plazit -Polygal Group
• Formosa Chemicals and Fiber Corporation
• RTP Company

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Third-party knowledge providers
• Value-Added Resellers (VARs)

Some of the Key Developments:

• In July 2019, A large-scale petrochemical business will be developed between Lotte Chemical and GS Energy for about KRW 800 billion. The deal was intended to maintain a steady supply of polycarbonate materials and to grow the business of C4 oil.
• In March 2022, Covestro started two new polycarbonate compounding manufacturing lines to deal with the rising demands for polycarbonate in the electronics, and automotive sectors.

Market Segment

This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global polycarbonate market based on the below-mentioned segments:

Global Polycarbonate Market, By Type

• Foil
• Strips
• Sheets
• Film
• Plates
• Tubes
• Fibers
• Others

Global Polycarbonate Market, By Processing Technology

• Molding
• Extrusion

Global Polycarbonate Market, By End User

• Construction
• Medical Devices
• Electronics and Electrical
• Optical Media
• Packaging
• Automotive 
• Others

Global Polycarbonate Market, Regional Analysis

• North America
  • THE US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• The Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa