Polycarbonate Market
Report ID: SQMIG15E2343
Polycarbonate Market Size, Share, Growth Analysis Technology (Extrusion, and Molding). End User (Automotive & Transportation, Electrical & Electronics), By Region- Industry Forecast 2025-2032
Report ID:
SQMIG15E2343 |
Region:
Global |
Published Date: November, 2024
Pages:
157
|Tables:
69
|Figures:
75
Polycarbonate Market Insights
Polycarbonate Market size was valued at USD 22.7 Billion in 2023 and is poised to grow from USD 23.38 Billion in 2024 to USD 29.66 Billion by 2032, growing at a CAGR of 3.0% during the forecast period (2025-2032).
Growing demand for polycarbonate from a wide range of industries including construction, packaging, automotive, consumer goods, and medical devices across the globe are major driving factor for the global polycarbonate market. In the recent years, polycarbonate market has seen an extensive rise in the demand from the automotive manufacturers due to the regulations regarding reducing vehicle weight and plastic usage from several regulatory bodies. This increase has resulted in the boost of demand for polycarbonate in the production process across the world.
Furthermore, polycarbonates are widely utilized in the building & construction industry, as architectural designers prefer polycarbonate as building materials over other alternatives available in the market due to the features like take less construction time, lower construction cost, and enable for the execution of creative and innovative structural ideas. According to Oxford Economics, the global construction output in the year 2020 was USD 10.7 trillion and is expected to reach a value of USD 15.2 trillion by 2031.
In addition, polycarbonate is extensively used in the automotive industry because of its remarkable properties as it mixes with bisphenol and carbonyl chloride. The automotive sector is growing at a high rate due to the increase in demand for passenger vehicles, and rapid growth in the transportation sector. According to the International Organization of Motor Vehicle Manufacturers, the production of passenger cars globally rose from 55834456 units in 2023 to 57054295 units in 2019. With the increase in the production of vehicles, the demand for polycarbonate is growing for several products like films, sheets, and others. Thus, the global polycarbonate market is expected to grow at a significant pace during the forecast period.
US Polycarbonate Market is poised to grow at a sustainable CAGR for the next forecast year.
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Polycarbonate Market Segmental Analysis
The Global Polycarbonate Market is segmented by Technology, End User, and Region. By Technology, the market is divided into Extrusion, and Molding. By End User, the market is segmented into Automotive & Transportation, Electrical & Electronics, Construction, Packaging, Consumer Goods, Optical Media, Medical Devices, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Polycarbonate Market Analysis by Product Type
By product type, the sheets and films segment held the largest Polycarbonate market share in 2021 at a CAGR of 4.9%. Properties of polycarbonate sheets and films such as flexibility for design, low cost, and temperature resistant are the key factors expected to drive segment growth during the forecast period. Polycarbonate has replaced the use of standard glass and acrylic available in the market due to its numerous advantages coupled with the variety of thickness and grades. For instance, in July 2021, SABIC a leading player of global polycarbonate market launched sustainable polycarbonate sheet and new film products, that will connect to company’s existing TRUCIRCLE initiative and respond to world’s growing demand for sustainable products solutions.
Polycarbonate Market Analysis by Application
By application, the electrical and electronics segment dominated the Polycarbonate Market with a significant share in 2021 at a CAGR of 6.3%. Polycarbonates are a type of thermoplastic polymer which is largely utilized in the electrical and electronics industry for the manufacturing of several types of equipment such as sensor, connectors, switching relay, and computers are most common parts due to their lightweight and high impact strength. Due to the emergence of polycarbonate in electrical and electronics industry, the market is expected to grow significantly during the forecast period.
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Polycarbonate Market Regional Insights
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.
Furthermore, North America is expected to witness a considerable growth rate during the forecast period. The growth rate witnesses in the region is simply attributed to the expansion of automotive sector, healthcare sector, and also rising demand for consumer electronics that are supporting the growth and expansion of the industry in the region.
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Polycarbonate Market Dynamics
Polycarbonate Market Drivers
- 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.
Polycarbonate Market Restraint
- High availability of close substitutes in the global Polycarbonate Market is expected to hinder growth of the polycarbonate over the forecast period. In addition, stringent regulations and complicated approval process from the regulatory bodies are also expected to restrain the market growth in the near future.
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Polycarbonate Market Competitive Landscape
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.
Top Players in the Global Polycarbonate Market
- Covestro
- SABIC
- Lotte Chem
- Teijin Industries
- Mitsubishi Engineering Plastics Corp
- Trinseo
- Idemitsu Kosan Co. Ltd.
- Lone Star Chemical
- Chi Mei Corporation
- Entec Polymers
Polycarbonate Market Recent Developments
- In November 2021, Covestro AG, a prominent player in polymer production has announced the launch of their latest durable material Makroblend® M5005 FR, a medical polycarbonate blend, and Makrolon® M6011 FR, another medical polycarbonate, for the use in medical devices housing and hardware.
- In October 2021, M. Holland Company, a leading distributor of thermoplastics resins and a prominent player in polymer materials, announced the signing of a contract for the extension of polycarbonate distribution into Mexico. The contract enables the company to run their operations in Mexico, as well as in the U.S.
Polycarbonate Key Market Trends
- 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.
Polycarbonate Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global polycarbonate market is witnessing a significant growth during the forecast period owing to the increase in population, technology development, expansion of various industries, and increased prevalence of lightweight applications across the globe. The growth in the various industries such as automotive, electronics, construction, and packaging industry are directly attributed for the rise in the demand of polycarbonate in the coming years. However, easy availability of the substitutes for polycarbonate such as acrylic in the market can hamper the growth of the global polycarbonate market over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 22.7 Billion |
| Market size value in 2032 | USD 29.66 Billion |
| Growth Rate | 3.0% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Polycarbonate Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Polycarbonate Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Polycarbonate Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Polycarbonate Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Polycarbonate Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Polycarbonate Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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