PUBLISHER: IMARC | PRODUCT CODE: 1287335
PUBLISHER: IMARC | PRODUCT CODE: 1287335
The global polycarbonate market size reached US$ 10.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.
Polycarbonate is a polyester commonly used in plastic lenses of eyewear, medical devices, automotive components, protective gear, greenhouses, compact disc (CD), digital versatile disc (DVD), Blu-ray, and exterior lighting fixtures. It offers heat resistance and can be combined with flame retardant materials without significant material degradation. It also provides durability, thermal insulation, and light transmission properties. It is lightweight, easy to install, and available in multiple colors, sizes, and shapes, as compared to other polymers.
Polycarbonate is used to protect against the shattering and scratching of electronic products like computers, electrical chargers, fax machines, pagers, connectors, and battery boxes. This, in confluence with the increasing sales of electronics, represents one of the key factors bolstering the market growth. In addition, it is employed in construction materials as it offers protection from ultraviolet (UV) rays. This, in confluence with rising construction activities in industrial areas, is contributing to the market growth. Apart from this, it finds extensive application in automotive components, including lighting, headlamp lenses, interior cladding, dashboards, bumpers, and body panels. This, coupled with the rising need for passenger and driver safety equipment, is strengthening the market growth. Furthermore, polycarbonate is incorporated into medical devices to diagnose and treat various chronic ailments. This, along with the growing prevalence of chronic diseases and significant improvements in the healthcare infrastructure, is driving the market. Besides this, extensive research and development (R&D) activities to develop high-performance plastics and increasing utilization of polycarbonate in the packaging of baby bottles, furniture, water dispensers, garden equipment, and sporting products are creating a positive outlook for the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global polycarbonate market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type and application.
Sheets and films dominate the market as they are durable, lightweight, transparent, and have excellent ink adhesion.
Polycarbonate is widely employed in electrical and electronics as it is a good electrical insulator and offers heat-resistance and flame-retardant properties.
The Asia Pacific holds the majority of the global polycarbonate market share due to rising industrialization in the region.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are CHIMEI Corporation, Covestro AG, Formosa Chemicals and Fibre Corporation, Idemitsu Kosan Co., Ltd., LG Chem, LOTTE Chemical Corporation, Mitsubishi Engineering Plastics Corporation, Saudi Basic Industries Corporation (SABIC), Teijin Limited, and Trinseo PLC.