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

Report ID: SQMIG15E2343 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 69 | Figures: 75

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

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