The Polycarbonate Resins Market is estimated to hit $ 18.918 billion by 2023
By Application (Packaging, Automotive, Building & Construction, Paints & Coatings, Electronics & Electrical (Incl. Optical Media & Lighting), Medical & Laboratory, Consumer Goods, Others); By Geography - Forecast (2018-2023)”, the market is driven by rising use of polycarbonate resins in various industries such as Packaging and Automotive.
Polycarbonate Resin Market (2015 - 2023)”
Asia-pacific continues to lead the market share and growth during 2018-2023
Asia-Pacific is dominating the Polycarbonate Resins market in terms of both revenue and growth, followed by North America and Europe. APAC was estimated to register $8.333 billion in 2017, and expected to reach $12.033 billion by 2023 at a highest CAGR of 5.39%. APAC, with increased concentration of industrial clusters, accounted for 58.90% of the global market, and is forecast to maintain its dominance in the coming five years. Strengthening transformation from mechanical equipment to electrical devices like motors, transformers in factories to increase productivity fuels the use of these resins. Increasing focus on durability of devices, machinery and components in harsh and high temperature conditions also provide impetus to the use of PC resins as they have high-temperature resistance.
Selected / Sample Analysis done in the full Report:
- Polycarbonate automotive glazing is gaining momentum as it is much versatile, lighter than glass and has no shape limitations. However, recently developed laminated glass is more lightweight and durable, and is considered as an alternative to polycarbonate glass, but is in its R&D state.
- Polycarbonate finds application in sheets/films, automotive (window and non-window), housewares, electronics/electrical appliances, medical equipment, ophthalmic, construction, sports, recreational, packaging, etc.
- The manufacturers of this product ensure the quality of the process and the finished products. Research is underway to develop and establish low cost manufacturing platforms that support mass production of industrial grade polycarbonate resins with best qualities.
- The immense growth in packaging industry, which is used in every sector, allowing the market of polycarbonate resin market to grow. Good quality, lightweight and durable plastics for packaging is replacing the old-fashioned and heavy packaging materials. Moreover, in the food industry, polycarbonate resins offers shatter-resistant plastics which provides a clear view of food in durable and heat resistant storage containers.
- Asia-Pacific and America are the established markets for polycarbonate resins, both in terms of production as well as consumption. Europe is an emerging market for polycarbonate resins, owing to the rapid automobile production in countries like China and India. In the European region, U.K. and Germany are the growing market for polycarbonate resins.
- The growing interest towards automotive sector using polycarbonate materials as a solution for weight reduction is helping the market to expand at a significant pace. Moreover, some of the major properties of polycarbonate like clarity, high strength, easiness to sterilize and impact resistance have led to its use in various critical medical devices like renal dialysis, cardiac surgery products and surgical instruments.
Excerpts on Market Growth Factors Mentioned in the Full Report:
- Continuous industrialization and growth in electronic as well as construction sector across the globe has led to the increasing consumption of polycarbonate resins. This in turn results in driving the market growth.
- Rapid development in the automotive sector, which uses polycarbonate materials as a solution for weight reduction, is a major growth driving factor for the Polycarbonate Resins Market.
- The growth in the packaging industry which uses polycarbonate packaging solutions for durability is giving a positive impact on the Polycarbonate Resins Market and is projected to drive market growth in the next coming years.
- Polycarbonate resins serve as alternatives for the existing materials used in medicine as they provide better performance characteristics than conventionally used materials. This factor is escalating the market growth since 2017 and is projected to continue the same throughout the forecast period.
- The growth of electronics sector is expected to increase the market for polycarbonate resins, as they are used in many consumer electronic devices.
Key Players of the Polycarbonate Resins Market:
Covestro AG and SABIC are amongst the key market players in Polycarbonate Resins market. Teijin Ltd. is one of the major players in the Polycarbonate Resins market in Japan, operating mainly in the fields of carbon fibres, polycarbonate resin and polycarbonate plastic processing and polyester fibres. Covestro AG is one of the world leading suppliers of highly advanced and efficient polymer materials and resins. It’s a subsidiary of Bayer AG and deals mainly in polyurethanes and polycarbonates. The company supplies a wide range of polycarbonate Resins products globally.
Browse Related Reports:
Waterborne Coatings Market:By Type ( Acrylic, Alkyd, Urethane, Epoxy and Others); By Formulation (Water, Solvent and Powder); By Component; By End User (General Water Borne, Automotive, Coil & Extrusion, Heavy Duty Equipment and Others); By Geography (North America, Europe, APAC and Row) - Forecast(2018-2023)
Engineering Resins Market:By type (Polyethylene, Polypropylene, Polycarbonate, ABS, PVC, PBT, PET, Nylon), By Application (Automotive, Engineering, Packaging and others) & By Geography - Forecast(2018 - 2023)