April 15, 2020
According to the research report titled ‘Polycarbonate Composites Market Size By Reinforcement By End-user Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, polycarbonate composites market is expected to surpass USD 3.2 billion by the year 2025.
Growing automobile industry owing to rapid urbanization and increasing disposable income is a major factor driving the growth of polycarbonate composites market. Rising adoption of smartphones has amplified the consumer electronics industry, which in turn is creating lucrative opportunities for the overall market. Advancements in polycarbonate composites in order to comply with the consumer electronics industry is further fueling the market expansion. However, strict regulatory scenario regarding the use of plastics and increasing awareness pertaining to environmental conservation may act as a restraining factor for polycarbonate composites market growth.
As per reinforcement scope, glass fiber based polycarbonate composites segment is likely to showcase significant growth in the forthcoming years. These composites are cost-effective, lightweight and are less brittle. They offer superior creep, corrosion and oxidation resistance, low density and high strength. Aforementioned features and flourishing automotive industry in Asia Pacific is aiding the product adoption.
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Citing the end-user landscape, market share from electrical & electronics industry is presumed to expand substantially during the forecast period. Polycarbonate composites provide superior electrical insulation, high strength and better temperature resistance. Proliferating sales of smart electronic devices, evolving lifestyle and growing middle-class population are favoring the market outlook.
The report cites that Asia-Pacific polycarbonate composites industry is slated to witness lucrative growth in the subsequent years, primarily due to growing end-use industries. Increasing automobile production and rising medical tourism in China and India due to cost effectiveness will promote the business scenario in APAC region.
The established companies in polycarbonate composites market are Covestro, Innovative Plastics, Chi Mei Corp., Mitsubishi Chemical Corp., LG Chem and SABIC among others.
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