Global Polycarbonate Market Size, Share, Growth Analysis, By Product Type(Films, Sheets), By Application(Electrical, Electronics) - Industry Forecast 2024-2031

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.