Polycarbonate Market - Forecast(2024 - 2030)

Report Code: CMR 95264 Report Format: PDF + Excel

Polycarbonate Market Overview

The Polycarbonate market size is estimated to reach US$13.3 billion by 2027, after growing at a CAGR of 6.1% during the forecast period 2022-2027. Polycarbonates are a type of transparent amorphous polymer and thermoplastic polymers that is easy to produce and can be molded or thermoformed. Polycarbonate includes engineering plastics, bisphenol and carbonyl chloride. Polycarbonate is used in a wide range of products requiring strong impact resistance, high-temperature resistance and optical transparency. The increasing use of polycarbonates in automotive applications is projected to boost the market during the forecast period. The superior physical and chemical qualities of polycarbonate sheets are a key factor driving the market's rising demand from end-use industries. The covid-19 pandemic majorly impacted the polycarbonate market due to restricted production, supply chain disruption, logistics restrictions and a fall in demand. However, with robust growth and flourishing applications across major industries such as automotive, electrical & electronics and others, the polycarbonate market size is anticipated to grow rapidly during the forecast period.

Polycarbonate Report Coverage

The “Polycarbonate Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the polycarbonate industry.

By Product Type: Plates, Sheets, Films, Foils, Strips and Others.
By Processing Technology: Injection Molding and Extrusion.
By End-use Industry - Transportation (Automotive, Aerospace, Marine and Locomotive), Building & Construction (Residential, Commercial and Industrial), Electrical & Electronics, Packaging, Optical Media, Consumer Goods and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Belgium and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World [Middle East (Saudi Arabia, UAE, Israel and Rest of the Middle East) and Africa (South Africa, Nigeria and Rest of Africa)].

Key Takeaways

  • Asia-Pacific dominates the Polycarbonate market size and the increase in demand from end-user sectors, such as automotive, building& construction and others, is the main factor driving the region's growth.
  • Regulations encouraging the use of plastics and reducing vehicle weight have led to a huge increase in demand from automotive manufacturers for the sector, which is promoting the market expansion of polycarbonate.
  • Furthermore, the increased production and commercialization of bio-based Polycarbonates has resulted in market expansion.
  • However, fluctuation in raw material prices such as crude oil could hamper the Polycarbonate market size.

Figure: Polycarbonate Market Revenue Share, By Geography, 2021 (%)Polycarbonate Market
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Polycarbonate Market Segment Analysis – by Type

The Sheets held a significant share in the Polycarbonate market share in 2021 and is projected to grow at a CAGR of 5.9% during the forecast period 2022-2027, owing to the increasing demand from various end-use industries. Due to its exceptional flexibility, polycarbonate sheet is becoming more and more used in a variety of industries, including building construction, electrical & electronics, automotive and aerospace. Polycarbonate sheet is extensively used for panel roofing due to its high optical clarity, flammability resistance and heat resistance. As a result, rising demand for residential construction is driving up demand for polycarbonate sheets. According to the "India Brand Equity Foundation (IBEF)," 1.12 crore dwellings have been sanctioned in India under the Pradhan Mantri Aawas Yojana (Urban), boosting demand for sheets. Thus, rising demand for transparent sheets and corrugated multiwall sheets from the construction, transportation and automotive industries would propel the polycarbonate industry forward.

Polycarbonate Market Segment Analysis – by End-use Industry

Electrical & Electronics held a significant share in the Polycarbonate market share in 2021 and is projected to grow at a CAGR of 6.4% during the forecast period 2022-2027. Polycarbonates are thermoplastic polymers which is widely utilized in the electrical and electronics industries to manufacture a wide range of corresponding equipment. Switching relays, sensor parts, LCD sections, connectors, cell phones and computers are some of the most frequent parts due to their lightweight and great impact strength. Hollow polycarbonates are excellent thermal insulators, making them a popular choice for wire insulation in the electrical and electronics industries. According to the Japan Electronics and Information Technology Industries Association, computer and information terminal manufacturing in Japan was worth 1,041,122 million yen in 2017 which was increased to 1,251,283 million yen in 2019. With the increasing electrical & electronics production, the demand for polycarbonate will also likely increase, as a result of which the polycarbonate market will be flourished over the forecast period.

Polycarbonate Market Segment Analysis – by Geography

The Asia-Pacific held a significant share in the Polycarbonate market share in 2021 up to 45%. The flourishing growth of polycarbonate is influenced by its major applications across major industries, along with growing development in electronics production and developed the base for polycarbonate in APAC. According to the People’s Republic of China, in 2021, the electronics industry grew by 15.7 percent, an increase of 8 percentage points year over year. According to the India Brand Equity Foundation, by 2025, India's electronics manufacturing industry is expected to be worth US$520 billion, Electronics consumption will increase to US$400 billion by 2025, up from US$33 billion in FY20. By 2025, India is predicted to be the world's fifth-largest consumer electronics and appliances market. With the increasing electrical & electronics production, the demand for polycarbonate will also likely increase, as a result of which the polycarbonate market share will be flourished over the forecast period.

Polycarbonate Market Drivers

Bolstering Growth of the Building & Construction:

Polycarbonate is widely used in the building & construction industry. Architectural designers prefer polycarbonate as building materials over other alternatives because they save construction time, lower overall construction costs and allow for the execution of creative structural ideas. The building and construction sector is flourishing due to increasing investment and urbanization, the development of architectural sites and residential housing plans. For instance, according to the U.S Census Bureau, the seasonally adjusted annual rate of construction in the United States increased from US$1,553,547 in April 2021 to US$1,744,801 in April 2022. According to Oxford Economics, the global construction output in 2020 was US$10.7 trillion 2020 and is expected to grow by 42% or US$4.5 trillion between 2020 and 2030 to reach US$15.2 trillion. With the rise in building and construction projects across the globe, the demand for polycarbonate is anticipated to rise for various applications in film, sheets and others, which is projected to boost the market growth in the building and construction industry during the forecast period.

Growing Automotive Production:

Polycarbonate is extensively employed in the automobile industry due to its remarkable physical and chemical qualities as it mixes with bisphenol a and carbonyl chloride. The automotive sector is rapidly growing due to factors such as the high demand for passenger vehicles among the middle class, urbanization and flourishing growth in fuel-efficient vehicle technologies. For illustration, according to the report from India Energy Storage Alliance, the EV market in India is expected to increase at a CAGR of 36% until 2026. Furthermore, the National Automobile Dealers Association (NADA) anticipates that the new light-vehicle sales in 2022 will show an increase of 3.4% compared to 2020. According to the International Organization of Motor Vehicle Manufacturers (OICA), the global production of passenger cars rose from 55834456 units in 2020 to 57054295 units in 2021. With the increase in automotive vehicle production and growth prospects, the demand for polycarbonate is rising for various products such as films, sheets and others. Thus, with flourishing demand in automotive, polycarbonate is driving and growing rapidly.

Polycarbonate Market Challenge

Fluctuating Raw Material Prices:

Price fluctuations in raw materials used to make polycarbonate are a significant concern for the global polycarbonate market. One of the primary raw materials used in the production of polycarbonate is crude oil. In recent years, unpredictable crude oil prices have influenced polycarbonate prices and the ongoing conflict between Russia and Ukraine has exacerbated the situation. Polycarbonate sheet suppliers are affected by price-sensitive clients and import threats. These variables present a significant challenge to polycarbonate sheet makers. According to the BP Statistical Review of World Energy 2021 report, crude oil prices have fluctuated in recent years. For instance, the Brent crude oil price decreased from US$52.39/bbl in 2015 to US$43.73/bbl in 2016, then increased from US$54.19/bbl in 2017 to US$71.31/bbl in 2018 and then decreased to US$41.84/bbl in 2020. Moreover, bisphenol and carbonyl chloride is harmful to the environment. This results in a considerable increase in prices, which drives up manufacturing costs and reduces manufacturers' profit margins, thereby limiting the polycarbonate market growth.

Polycarbonate Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Polycarbonate market. The top 10 companies in the Polycarbonate market are:

  1. SABIC Innovative Plastics
  2. Teijin Limited
  3. Chi Mei Corporation
  4. Idemitsu Kosan Co. Ltd.
  5. Mitsubishi Engineering-Plastics Corporation
  6. Trinseo (Styron)
  7. Centroplast Engineering Plastics GmbH
  8. Bayer MaterialScience AG
  9. Royal DSM
  10. Asahi Kasei Chemical Corporation

Recent Developments

  • In August 2021, Sabic launched certified circular polycarbonate, touting it as an industry first based on enhanced recycling. When compared to incumbent polycarbonate, the company claims a possible reduction of up to 23% in greenhouse gas footprint.
  • In July 2021, SABIC introduced ISCC-certified polycarbonate film and sheets made from sustainable feedstock.
  • In January 2020, Covestro introduced three new medical-grade polycarbonates that suit demanding low-friction requirements: Makrolon® M204 LF, Makrolon® M402 LF and Makrolon® M404 LF.

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1. Polycarbonate Market - Market Overview
    1.1 Definitions and Scope
2. Polycarbonate Market - Executive Summary
    2.1 Key Trends by Product Type
    2.2 Key Trends by Processing Technology
    2.3 Key Trends by End-use Industry
    2.4 Key Trends by Geography
3. Polycarbonate Market – Comparative analysis
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis - Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Polycarbonate Market - Startup companies Scenario Premium io Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Polycarbonate Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Polycarbonate Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter's Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Polycarbonate Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Polycarbonate Market - by Product Type (Market Size - US$ Million/Billion)
    8.1 Plates
    8.2 Sheets
    8.3 Films
    8.4 Foils
    8.5 Strips
    8.6 Others
9. Polycarbonate Market - by Processing Technology (Market Size - US$ Million/Billion)
    9.1 Injection Molding
    9.2 Extrusion
10. Polycarbonate Market - by End-use Industry (Market Size - US$ Million/Billion)
    10.1 Transportation
        10.1.1 Automotive
   Passenger Vehicles (PV)
   Light Commercial Vehicles (LCV)
   Heavy Commercial Vehicles (HCV)
        10.1.2 Aerospace
        10.1.3 Locomotive
        10.1.4 Marine
    10.2 Building & Construction
        10.2.1 Residential
        10.2.2 Commercial
        10.2.3 Industrial
    10.3 Electrical & Electronics
    10.4 Packaging
    10.5 Optical Media
    10.6 Consumer Goods
    10.7 Others
11. Polycarbonate Market - by Geography (Market Size - US$ Million/Billion)
    11.1 North America
        11.1.1 the USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 the UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 the Netherlands
        11.2.6 Spain
        11.2.7 Belgium
        11.2.8 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 the Middle East
   Saudi Arabia
   Rest of the Middle East
        11.5.2 Africa
   South Africa
   Rest of Africa
12. Polycarbonate Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Polycarbonate Market – Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking Matrix – Major Companies
    13.2 Market Share at Global Level - Major companies
    13.3 Market Share by Key Region - Major companies
    13.4 Market Share by Key Country - Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product Type/Product category - Major companies
14. Polycarbonate Market – Key Company List by Country Premium Premium
15. Polycarbonate MarketCompany Analysis - Business Overview, Product Portfolio, Financials and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
* "Financials would be provided to private companies on best-efforts basis."
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