January 06, 2021
According to a recent study titled ‘Global Polycarbonate Market Analysis, 2020’, available with Market Study Report LLC, worldwide polycarbonate market size is projected to expand at an annual growth rate of 7% over 2020-2025.
As per the findings of the report, escalating demand from various end-user industries like electronics & electrical, construction, automotive, medical devices, and consumer goods is fueling global polycarbonate market growth.
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For the uninitiated, a polycarbonate is made up of crystalline thermoplastic molecules. It is produced by blending of different polymers such as polyester and ABS. With technological innovations in processing techniques and availability of several methods such as foam molding, injection molding, and extrusion, the application scope of polycarbonate is widening across different industry verticals.
The automotive sector is expected to significantly boost the growth of global polycarbonate market in the forthcoming years. This is largely ascribed to improving economic conditions and living standards in APAC, along with revisions of regulatory frameworks of production of lightweight automotive which is encouraging the application of hydro plastic polymers over glass. Moreover, characteristics like flexibility, lightweight, high resistance to heat and chemical will continue to favor the use of polycarbonates in designing interior and exterior components of automobiles.
Geographically, global polycarbonate market size spans across North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific will continue to be a major growth promoter for the industry, attributable to low labor cost and abundance of raw inputs which is compelling manufacturers to expand their base and operations across the region, especially in emerging economies like India and China.
Leading players influencing global polycarbonate market trends are Entec Polymers LLC, Formosa Chemicals & Fibre Corp., Chi-Mei Corp., LG Chem Ltd., Trinseo S.A., Teijin Ltd., Lotte Chemical Corp., Covestro AG, Mitsubishi Engineering Plastics Corp., and SABIC.