Polycarbonate Market is estimated to be US$ 7643.71 Kiloton by 2030 with a CAGR of 4.50% during the forecast period
Polycarbonate Market accounted for US$ 4953.56 kiloton in 2020 and is estimated to be US$ 7643.71 kiloton by 2030 and is anticipated to register a CAGR of 4.50% Polycarbonates (PC) are a group of thermoplastic polymers containing carbonate groups in their chemical structures. Polycarbonates used in engineering because it is strong, tough materials, and some grades are optically transparent. They are easily molded, transformed and easy to work on it. Polycarbonate is a durable material, high impact- resistance and low scratch-resistance.
The report "Global Polycarbonate Market, By Product Type (Sheets and Flims, Fibers, Blends, Tubes, and Other Product Types), By End- User Industry (Automotive and Transportation, Electrical and Electronics, Construction, Medical, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030.
Key Highlights:
· In 2018, SABIC introduced new LEXAN CRT resins which gives advantages such as high flow, high-temperature resistance, and high refractive index properties in order to usage in optical application
Analyst View:
The rising demand for the construction industry is the major propelling factor for the growth of the global market. For instance, are per the European Construction Industry Federation (FIEC), the construction sector in Europe region is anticipated to witness an overall turnover growth of 4% in 2018. Additionally, the increasing demand for polycarbonates from the automotive industry is another driving factor for the target market. Moreover, the rapid growth in the electronics industries is fueling factor for the growth of the global market. Furthermore, the rise in popularity of the polycarbonates against conventional materials is the boosting factor for the growth of the global market. However, the volatility in the raw material prices may act as a restraining factor for the growth of the target market.
Key Market Insights from the report:
Global Polycarbonate Market accounted for US$ 4953.56 kiloton in 2020 and is estimated to be US$ 7643.71 kiloton by 2030 and is anticipated to register a CAGR of 4.50%.. The market report has been segmented on the basis of product type, end-user industry, and region.
· By product type, the global market is classified into sheets and films, fibres, blends, tubes, and other product types.
· By end-user industry, the target market is bifurcated into automotive and transportation, electrical and electronics, construction, medical, and others
· By region, Asia Pacific region is expecting to dominate the global market over the forecast period due to the more developing countries are in this region, therefore, the building new infrastructure the polycarbonate is used widely.
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Competitive Landscape:
The prominent player operating in the global polycarbonate market includes Chi Mei Corp., Covestro AG, Formosa Plastics, Idemitsu Kosan, LG Chem Ltd., Lotte Chemical Corporation, Mitsubishi Engineering Plastics Corporation (Mitsubishi Chemical Corporation), Saudi Basic Industries Corp. (SABIC), Samyang, and Teijin Limited.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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