Polycarbonate Market Dynamics, Growth Prospect and Consumption Analysis till 2024

Posted on 2021-03-17 by researchinsights in Chemicals // 0 Comments

Felton, Calif., USA, Mar. 17, 2021 — /EPR Network/ —

Global Polycarbonate Market is anticipated to reach USD 25.37 billion by 2024 owing to the regulation policies that encourage the use of plastics by automotive OEMs for improving fuel efficiency and reducing vehicle’s weight. Polycarbonate are naturally translucent amorphous thermoplastic plastics. Owing to this feature, polycarbonates can internally transmit light as effectively as glass to sustain greater impacts as compared to other commonly used plastics.

Moreover, the flexibility of polycarbonates enables the manufacturing process at the room temperature with no cracks or breaks to convert without heat application. Despite the material known for its flexibility and strength, the transparency makes them ideal for use for a variety of applications that similar materials cannot offer.

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Focusing on the low emissions by the environmental authorities, the automobile manufacturers are emphasizing on developing light weight automobiles. The extensive use of polycarbonate in manufacturing light weight automobiles is one of the major driving factors of the market. Also, the speedy expansion of consumer electronics segment is playing major role in the growth of polycarbonate industry.

Currently, polycarbonate holds considerable share of plastic market and the dominance is predicted to increase in the forecast period. This can be attributed to the growing demand from key end use industries like electronics, consumer goods and automotive. Polycarbonate is widely used for applications across verticals such as packaging, construction, medical devices, which is propelling the growth of polycarbonate market.

On a global scale, polycarbonate material is also used in several structural, safety and aesthetic applications, especially in the automobile industry. The material is used in automotive components and other internal parts like front-end body panels, glazing, and bumper fascia.

The major players of polycarbonate industry include EVONIK INDUSTRIES AG, Covestro, Mitsubishi Engineering Plastics Corp., Asahi Kasei Chemical Corporation, Bayer AG, LG Chemicals, Formosa, Idemitsu Kosan Co. Ltd., SABIC, and Teijin Limited, among others.

Global Polycarbonate Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2024)

Transportation
Electrical & Electronics
Construction
Packaging
Consumer Goods
Optical Media
Medical Devices
Others

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Key questions answered in the report include:

What will be the market size in 2024?
What are the growth opportunities of Polycarbonate market in upcoming period?
What strategies are the market players adopting to ensure sustainability?
Which region or country driving the demand of Polycarbonate market?
How and where market players should focus to gain maximum ROI?

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