What is the global market size of Polycarbonate Market?

Polycarbonate Market size was valued at USD 21936.02 million in 2021 and is poised to grow from USD 22594.1 million in 2022 to USD 29480.18 million by 2030, growing at a CAGR of 3% in the forecast period (2023-2030).

Polycarbonate Market Size, Share, Growth Analysis Technology (Extrusion, and Molding). End User (Automotive & Transportation, Electrical & Electronics), By Region- Industry Forecast 2024-2031

Report ID: SQMIG15E2343 | Region: Global | Published Date: November, 2024
Pages: 157 | Tables: 69 | Figures: 75

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 for polycarbonates in the global 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.

Polycarbonate Market Report Snapshots

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Global Polycarbonate Market size was valued at USD 22.1 billion in 2022 and is poised to grow from USD 22.7 billion in 2023 to USD 28.8 billion by 2031, growing at a CAGR of 3.0% during the forecast period (2024-2031).

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. 'Covestro ', 'SABIC ', 'Lotte Chem ', 'Teijin Industries ', 'Mitsubishi Engineering Plastics Corp ', 'Trinseo ', 'Idemitsu Kosan Co. Ltd. ', 'Lone Star Chemical ', 'Chi Mei Corporation ', 'Entec Polymers '

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.

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.

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.

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Polycarbonate Market Size, Share, Growth Analysis Technology (Extrusion, and Molding). End User (Automotive & Transportation, Electrical & Electronics), By Region- Industry Forecast 2024-2031

Polycarbonate Market Dynamics

Polycarbonate Market Report Snapshots

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