Global Polycarbonate Market

Polycarbonate Market Size, Share, Growth Analysis, By Product Type(Films, Sheets, Fibres, Blends), By Application(Electrical, Electronics, Automotive, Construction), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15E2343 | Region: Global | Published Date: July, 2001
Pages: 157 | Tables: 69 | Figures: 75

Polycarbonate Market Insights

Polycarbonate Market size was valued at USD 21936.02 million in 2019 and is poised to grow from USD 22594.1 million in 2023 to USD 29480.18 million by 2031, growing at a CAGR of 3% in the forecast period (2024-2031).

Growing demand for polycarbonate from a wide range of industries including construction, packaging, automotive, consumer goods, and medical devices across the globe are major driving factor for the global polycarbonate market. In the recent years, polycarbonate market has seen an extensive rise in the demand from the automotive manufacturers due to the regulations regarding reducing vehicle weight and plastic usage from several regulatory bodies. This increase has resulted in the boost of demand for polycarbonate in the production process across the world.

Furthermore, polycarbonates are widely utilized in the building & construction industry, as architectural designers prefer polycarbonate as building materials over other alternatives available in the market due to the features like take less construction time, lower construction cost, and enable for the execution of creative and innovative structural ideas. According to Oxford Economics, the global construction output in the year 2020 was USD 10.7 trillion and is expected to reach a value of USD 15.2 trillion by 2031.

In addition, polycarbonate is extensively used in the automotive industry because of its remarkable properties as it mixes with bisphenol and carbonyl chloride. The automotive sector is growing at a high rate due to the increase in demand for passenger vehicles, and rapid growth in the transportation sector. According to the International Organization of Motor Vehicle Manufacturers, the production of passenger cars globally rose from 55834456 units in 2023 to 57054295 units in 2019. With the increase in the production of vehicles, the demand for polycarbonate is growing for several products like films, sheets, and others. Thus, the global polycarbonate market is expected to grow at a significant pace during the forecast period.

US Polycarbonate Market  is poised to grow at a sustainable CAGR for the next forecast year.

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Polycarbonate Market size was valued at USD 21936.02 million in 2019 and is poised to grow from USD 22594.1 million in 2023 to USD 29480.18 million by 2031, growing at a CAGR of 3% in the forecast period (2024-2031).

The global polycarbonate market is moderately competitive in nature with the presence of few large players across the globe. The top five key players of the global polycarbonate market including Covestro AG, SABIC, Mitsubishi Engineering-Plastics, LOTTE Chemical Corporation, and TEIJIN Ltd. accounted for more than 70% of the market share in terms of production capacities. New product launches, acquisition & mergers, technology development, and increasing investments are the key strategies of the major market players. 'SABIC', 'Covestro AG', 'Mitsubishi Chemical Corporation', 'Teijin Limited', 'LG Chem Ltd.', 'Trinseo S.A.', 'Sumitomo Chemical Co., Ltd.', 'Formosa Chemicals & Fibre Corporation', 'Chi Mei Corporation', 'Idemitsu Kosan Co., Ltd.', 'Samyang Corporation', 'LOTTE Chemical CORPORATION', 'Plazit-Polygal Group', 'Brett Martin Ltd.', 'Spartech LLC', 'E-Polymers Co., Ltd.', 'Excelite Plastics Ltd.', 'Evonik Industries AG', 'Sichuan Blue Sword Chemical (Group) Co., Ltd.', 'Kotec Corporation'

Rising demand for polycarbonate plastic due to the surge in demand for the lighting applications, which has features of high temperature resistance along with the efficient light transparency and impact resistance across the world is the major factor expected to drive the market during the forecast period. According to the India Brand Equity Foundation, around 11.2 million dwellings have been sanctioned in India under the Pradhan Mantri Aawas Yojana, as a result the demand for polycarbonate transparent sheets have increased in the nation.

Increase in the number of applications of polycarbonate in the electrical and electronics industry including sensor parts, connectors, LCD sections, cell phones, switching relay, and others wing to their light weight, stability, and high impact power. In addition, hollow polycarbonates are perfect thermal insulators, which makes them a great choice for most wire insulation applications in the electronics and electrical industry. As a result, the global polycarbonate market has seen a tremendous growth in the last few years and expected to continue this is the next few as well.

Asia Pacific dominated the global polycarbonate market in 2021 and accounted for over 45% of market share owing to growing demand for polycarbonate in various industries along with the technological advancement and development in the region. According to the People’s Republic of China, in 2021, the electronics industry has grown by 15.7%, with an increase of 8% from the last year. Similarly, according to the India Brand Equity Foundation, the Indian electronics industry is expected to be worth USD 520 billion by 2025, up from USD 33 billion in 2020. India is anticipated to be the world’s fifth largest consumer electronics and appliances market by 2025. With the increasing electronics market, the demand for polycarbonate is also likely to increase during the forecast period.

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Global Polycarbonate Market

Report ID: SQMIG15E2343

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