The growth of the construction and consumer electronics industries are having a positive impact on the polycarbonate market and evidentially so when the companies are observing a substantial demand influx and striving to expand their production capacities in order to gain maximum traction from the end-use industries. For instance, in August 2018, KBR, Inc. decided to build two polycarbonate production plants in China – Kaifeng, and Pingdingshan in the Henan Province, thereby enhancing its production capacity to 800ktpa. Additionally, in October 2018, Covestro AG also envisioned to expand its polycarbonate business in China within the next four years. The prospects to prosper for players in the polycarbonate market are in abundance as there is a significant demand from the automotive industry, which is only going to increase in the upcoming years. Additionally, the growing concern about CO2 emissions and the increasing usage of lightweight materials like polycarbonate are also generating demand in the market. Furthermore, the surge in demand for the medical devices in the healthcare industry is also going to reflect positively in the polycarbonate market growth, because the polymer continues to be the most preferred material for medical applications.

The trend of biodegradable materials is also influencing the polycarbonate market and inspiring a gamut of innovations. For instance, in January 2019, Teysha Technologies developed a natural polycarbonate platform that can create a variety of polymers with tunable properties and a broad spectrum of applications. This is a progressive step in the growing market for sustainable plastics and will be helping serve various industries that are experiencing an increasing demand for polycarbonate.

The growing demand for polycarbonate across sectors can be further fathomed by the upsurge in the trade value of the parent industry that includes plates, sheets, non-cellular plastics, and polycarbonate. According to the International Trade Centre (ITC), the trade value in this parent industry of polycarbonate market was measured to be $61.45 billion as of 2018, and the value witnessed a year on year growth at 8%. A substantial fraction of this trade value is attributable to the trade of polycarbonate across the globe, and it resonates with the impressive polycarbonate market size that was evaluated to be $19.8 Billion in 2018. Furthermore, the market is poised to grow at a CAGR of 4.1% during the forecast period 2019-2025.

APAC Polycarbonate Market and the Demand Analysis from the End-Use Industries:

APAC had the maximum polycarbonate market share with 60% in the global revenues. The growth opportunities in the APAC polycarbonate marketplace are aplenty, predominantly because of the construction industry, which is making strides across countries in the region. Furthermore, the automotive industry is also on the path of progress, especially in China and India, which is leading to a greater demand influx in the APAC polycarbonate market. Here are some factors that are imparting growth in the APAC polycarbonate market –

· The Construction Industry in APAC Positively Influencing the Polycarbonate Marketplace –

The International Trade Centre assessed the Chinese construction industry at $893.58 billion in 2018. Furthermore, the industry is poised to attain a valuation of 1.12 trillion by the end of 2021. This is going to bring ample opportunities to the polycarbonate market players because polycarbonate is a high-performance thermoplastic which is used in building and construction products that include windows, wall panels, and skylights. Furthermore, the Indian construction industry observed an investment of 1 trillion between 2012 and 2017, and the rapid urban development will be leading to 100 smart cities by 2020, which will include many construction activities. This is creating revenues sources in India for the polycarbonate market companies.

The post-2011 earthquake scenario in Japan has also led to a surge in construction activities, which also includes some renovation projects. This is quite evident when the contribution of the Japanese construction industry has substantially increased over the years from 26.748% in 2012 to 29.144% in 2017, according to the findings by the World Bank. The progress of the construction industry is increasing the polycarbonate market demand. 

· APAC Automotive Industry Increasing the Polycarbonate Market Demand –

According to the China Association of Automobile Manufacturers, there were sales of more than 27 million vehicles in 2018. Furthermore, the Chinese government claims that the automobile output will reach as much as 30 million units by the end of 2020 and 35 million by 2025. Polycarbonate sheets are lightweight, and therefore, they are preferred for use in automobile vehicles. The growth of the Chinese automotive industry will lead to an expansion of the APAC polycarbonate market.

The India Brand Equity Foundation has assessed the FDI inflows in the Indian automotive industry to be $20.85 billion from 2000 to the end of 2018. Furthermore, India is also envisioning to be one of the leading markets for electric and autonomous vehicles, which will produce profitable prospects for the polycarbonate market players in the Indian automotive industry.

The polycarbonate market also thrives on the demand created by the Japanese automobile industry. According to the Japan Automobile Manufacturers Association (JAMA), in 2018, over 5 million vehicles were sold in Japan, and already more than 2.5 million vehicles are sold in 2019. The consistent sales of vehicles in Japan offers opportunities to a gamut of the associated markets, and the polycarbonate market is reaping revenues through it.

The aforementioned factors are creating a significant demand upsurge in the APAC polycarbonate market, and this resonates with the growing import of the materials from the parent industry in various countries of the region –

Table 1 – 2018 Import Value Corresponding to the Parent Industry

Sr. No.


Import Value Corresponding to the Parent Industry (USD)

Year on Year Change (%)



$7.31 billion




$1.13 billion




$1.68 billion




 $594.66 million




$771.05 million




$313.32 million


With the envisioned growth of the end-use industries, the upcoming years will witness a further increase in the trade, and the APAC polycarbonate marketplace will prove to be lucrative for the players.

Polycarbonate Market – Global Scenario and Growth Drivers:

· The Key End-User Industry for the Polycarbonate Market: Construction –

The construction industry is found to be the key end-user industry which will generate substantial revenue sources for the polycarbonate market players. This application segment is poised to grow at a CAGR of 3.8% through to 2025. This is attributable to the fact that sustainable development goals (SDGs) by the United Nations (UN) will catapult the building and construction activities to create infrastructure for the foreseeable increasing the global population. According to the findings by the Global Construction Perspectives and Oxford Economics, the global construction industry will attain a valuation of $8 trillion by 2030. Furthermore, the construction industry will be predominantly driven by the US, China, and India. The global growth of the construction industry will create a demand for polycarbonate sheets that are used in the buildings, and this will increase the polycarbonate market size.

· The Rise of the Consumer Electronics Sector to Bring Opportunities for the Polycarbonate Market Players –

The growth of the consumer electronics industry is discernible in the rising number of mobile users worldwide. According to the Global System for Mobile Communications (GSMA), the number of mobile users will increase from 5.1 billion in 2018 to 5.8 billion in 2025. Furthermore, the growth is poised to translate to other products such as tablet and phablet. The high resistance, suitable temperature threshold, and flexibility makes polycarbonate the most preferred polymer for consumer electronic applications, and therefore, the growth of the consumer electronics industry is augmenting the polycarbonate market demand.

· The Global Automotive Industry Also Creating Prospects in the Polycarbonate Market –

According to the European Automobile Manufacturers Association (EAMA), the total number of vehicles produced around the world was 98.1 million in 2018. This production is only going to escalate with the advent of electric vehicles (EVs) and semi-autonomous & autonomous vehicles, and this will increase the polycarbonate market demand. Another factor which is widening the polycarbonate market scope in the automotive industry is the need for the reduction of CO2 emissions. A substantial amount of CO2 emissions is attributable to the fuel consumption in the transportation sector. In 2016, global CO2 emission from fuel combustion was evaluated at 33.31 GtCO2, and the figure has increased by 40% as compared to that in 2000, according to the International Energy Association (IEA). The concern pertaining to CO2 emission is creating a further need to reduce the weight of the automobile vehicles, and polycarbonate is a lightweight material. The upcoming years will witness more use of lightweight materials in automobile vehicles, and the polycarbonate market players will be capitalizing on the demand.

· The Demand Inflow from the Medical Industry Increasing the Polycarbonate Market Size –

Polycarbonate is commonplace in the medical devices, and the demand influx for the polymer in the medical industry resonates with the healthcare equipment market growth. The wearable medical device market had witnessed a valuation of $29.56 billion in 2017, and it is projected to grow at a CAGR of 21.30% during the forecast period 2018-2023. This will lead to a lot of scope for the polycarbonate market players in the healthcare industry.

Polycarbonate Market – Competitive Landscape:

The polycarbonate market companies that are expanding across geographies in order to capitalize on the rising demand are Covestro AG, Teijin Limited, Mitsubishi Engineering Plastics Corporation, LG Chemicals Limited, Evonik Industries AG, Formosa Plastics, Asahi Kasei Corporation, Idemitsu Kosan Co. Ltd., and SABIC.

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